This review has been a long time coming, but today I am reviewing Chris Lori's Pro Trader Complete FX Course. I heard about this course a couple years ago from a friend and decided to pick it up.
I just have to start by saying that this is one of the best currency trading training programs that I have ever gone through. There are a ton of videos to illustrate each teaching point so it is really easy to follow along.
If you are new to forex trading, then the first couple of CDs are a good introduction to forex. Chris goes over pips, leverage, rollover, basic things like that. For me that was all review so I fast forwarded through those disks.
Then around the third CD, things started to get interesting. Chris' primary method of trading is called price action. Where can you get this Metatrader indicator? Sorry, this is not an indicator but in my opinion, it is a thousand times more useful.
Price action is the study of how price reacts to different price levels such as trendlines, support and resistance, Fibonacci levels and other key levels. Up until that point, I thought I knew everything about support and resistance, but I was very wrong.
Who is Chris Lori and why should you get his currency trading training?
Let me take a step back here. You are probably wondering who this guy Chris Lori is. Here is a quote from his website:
Chris Lori is a registered CTA and fund manager for Seaview Capital Inc where he manages funds on behalf of private and institutional clients worldwide. Chris offers private consulting services to individuals and institutions looking to diversify their portfolio relating to foreign exchange holdings and risk. He also manages a currency fund for clients booked in London and Singapore.
Previous to his career as a fund manager, Chris competed in four Olympic Winter Games and won the prestigious Overall World Cup Championship in the sport of bobsleigh. Chris totaled nine Crystal Globes for Overall World Cup final standings and accumulated twenty-two World Cup Medals during an outstanding bobsledding career. Chris was a model athlete in Canada where his success brought him celebrity status and high demand for appearances and endorsements.
Would you learn from someone who didn't actually trade for a living? No, I hope not!
Before I start reading any book about forex trading, I always flip to the back cover. Why?
Because I read the biography of the author before anything else. If they say that they are an analyst, journalist or television personality, I put the book back.
I only look for people who actually trade professionally.
The same thing goes for currency trading training courses. If the teacher really trades for a living, then you will usually learn at least one or two useful tips to improve your trading.
Disclosure: This post contains affiliate links and I do make a small commission if you purchase through these links. This helps keep this blog going and does not cost you anything extra. I promote this course because I believe in it…period.
A wealth of information
In the case of Chris' course however, I learned a TON of valuable information. It was one of the very few times that I have studied a method and as soon as I finished, I started to see patterns in the charts that I never saw before.
Logical levels, dealing ranges, fractals, support and resistance suddenly appeared and as I looked back on losing trades I did in the past, I started to see my errors.
I know this sounds like a bunch of mumbo jumbo, but you actually have to experience it to believe it. Once you understand how price moves, it becomes that much easier to tell if you should stay in a trade or get out.
I use it with other methods and in other markets
Even if I am using a particular technique that I have learned from another trader, it all comes down to price action telling me if I should suck it up or bail. It sounds crazy, but many times the market will “tip it's hand” and price action will give you hints as to what will happen next.
Of course, this is not a holy grail by any means, nothing is, but I believe that it is one of the essential tools in a trader's toolbox. In fact, I would suggest that all currency traders take this course first because price action is the foundation of good trading.
Price action has also helped me in the stock market. Since the stock market reports volume numbers, combining volume with price action gives a pretty good picture of what the stock will do next. Again, there are no guarantees, but it does increase my odds.
Nothing is perfect and this course is no exception. If there is a weakness in this course, it is that there is just so much information that it may be overwhelming when you start out.
Don't get me wrong, Chris is a good teacher. He speaks clearly and is good at explaining complicated concepts so anyone one can understand.
However, just the fact that there are so many lessons available may discourage some people.
My suggestion would be to watch each lesson a couple of times until you understand the concepts before you move on to the next one. Don't feel like you have to digest it all at once.
In addition, Chris includes two months free in his Pro Trader's Club (PTC) market analysis service when you purchase this course. This is done 2-3 times a week where you can literally watch over Chris' shoulder to see how he is trading the market.
The PTC website has an archive section where you can watch videos from years past to see how his analysis actually worked out. There are literally hundreds of hours of recordings at your disposal.
This is invaluable to his currency trading training package but may also contribute to a feeling of being overwhelmed.
In order to get the most out of the Pro Trader's Club videos, I would suggest watching the first 3 CD's before even logging into the PTC site. These CD's will give you the minimum knowledge necessary to start to learn from his videos.
In conclusion, as a person who has actually gone through this course AND subscribed to Pro Traders Club for a year, I wholeheartedly suggest this course and any of his currency trading training.
In addition, I have actually contacted Chris personally several times and he always responded in a timely manner and was very helpful. This shows that he also stands behind his product.
It is one course that I believe is really worth much more than it costs.
For more information, click here to check it out.
Hope that helps,
P.S. – If you didn't notice, Chris Lori is one of my Trading Heroes.