Hello, there!
Time after time I receiving messages from guys who calling themselves professional binary or forex traders and offering me management service, mentoring course etc.
Couple of this guys
Really?
Newbies can fall into that but let me clear something to you, this is only my opinion you can agree or not but this is the last time I answering that question.
Who is professional forex trader?
First of all professional means profession so forex trading – chart analyzing – risk management – portfolio investments – macro economics – financial management should be their job. Yes, JOB. This is requires education and qualification in other words – Financial degree, MBA, FCA, FRM certification should be in the portfolio of the person if he providing financial fund management services and calling himself a PRO.
I will be honest with you due to my five years retail forex trading experience the pro traders I only met in financial departments of investing companies.
This is simple and clear – try to describe professional doctor, would you call professional neurosurgeon a person which doesn’t have a medical degree, a certificate and didn’t complete internship but he did 5 cerebral surgery in a garage?..
This is it, doesn’t matter how long a person in this industry, how many pips he put in his pocket or his client’s accounts, without qualification he can’t be a pro trader. Why? Well certification of FRM for example means the person did studied professional risk management methodology and financial management some of this guys from screenshots even doesn’t know what is it risk management at all you can ask them a question about RM but this is would be only words. dot
Any questions?
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How crucial is certification in risk management and financial methodologies for validating expertise, especially when so me individuals may lack practical knowledge despite their experience in trading? Regard Telkom University
Unless you hire a professional trader at a bank or other financial company, you are not dealing with professionals. The difference is in the regulation of risks and liability in breach of contract. Since we are talking about trading, no matter how you look at it, this is a high-risk income by default. Certification is becoming critically important for running a business and institutional asset management, I have not seen professional qualified traders in individual fund management and this is understandable.