I had an interesting conversation with a client in my office yesterday. He had just paid $5,000.00 for trading education (in foreign exchange in particular) and had come to me (not the education provider) for some clarity on the techniques he was being taught. This article is a paraphrased editorial of the conversation that we had.In trading education there are two sorts of providers; external education providers (no ties to a brokerage house) or education firms that are an internal or external unit of a broker. Each has positives and negatives and this article will discuss some of this and seek to make recommendations.External education firms are generally work this way; “come to us for trading education – we will charge you X amount and teach you certain things, which we will not discuss now, but here are some testimonials.Broking firms generally work differently. Education (or frequently “coaching”) is provided for free and the broker then expects you to trade with him.Recently, several firms have bridged the gap and are external education firms, owned by a brokerage, that charge for the education, but still push you to trade with them.Education firms have the benefit that they only make residual income (by selling further “advanced” trading courses) if their students are satisfied. The risk for these firms is that the education they provide is of not a “value for money” which would encourage their students to buy the back end courses. The weakness in these firms is that they usually teach within a bubble and do not often have educators with real world trading experience. It is the old adage, those who can do, those who can not teach.Brokers who educate on the other hand generally have brokers doing their education. The lessons may not be as structured, but they are coming from experienced market professionals who are in the market day in testing their methods. The negative with this sort of education is that the broker may be encouraged to educate on “high frequency trading” which enhances his or her personal revenue, through the client over trading their account.In the middle, the hybrid strategy, you obviously get the best and worst of both worlds. Hybrid educator customers have the luxury of paying quite significant funds to learn from a market professional who still may be encouraging the client to over trade their account.So, what is the answer?First, a bigger question is whether the client wishes to actually learn how to trade, or instead wishes to invest in the market. If the client wishes to invest, they should try a managed or mutual fund, or else seek out a good broker who they trust.If the client really does intend on learning how to trade, I would suggest that the best strategy is to find, again, a broker that they trust and open an account with them, using the money they would have spent on education. Make it clear that this is the relationship that you wish to have so the broker is under no uncertain terms that education from him or her is required.And as when finding any other professional service (Doctor, Lawyer, Accountant), nothing will ever beat a referral.
The Indian education system is probably one of the largest in the world. In fact, the higher education system of the country indeed ranks third in the world, after US and China. Furthermore, it’s even expected to leave US behind in just around 5 years, and China in around 20 years.Some statistics suggest that the country’s college-age group population will only keep rising, which is again something very positive for the country’s education system.However, as good as the future prospects look for the Indian education system, there’s also just as interesting history of the education in India. We will be learning more about that below.An overviewThe education system was started in South Asia with teaching many traditional educational elements such as Indian mathematics, Indian religions, and Indian logic. There may be many other things, too, that were thought of during the period, but these three seem to be the most common ones.The learning centers were built in Taxila, which is now a part of the modern-day Pakistan, and Nalanda, which is still a part of India.Things changed rather rapidly after the British invaded India. The western education system was brought in at this point, and apparently, is still followed to a significant extent in the country.Early historyWhen education was started in India, it usually used to be under the supervision of a “guru”, or in a more modern sense, a teacher. However, back then, education was attained at learning things that would help one achieve Moksha, or attain liberation.Soon after that, though, the education system in India witnessed many changes, including the emergence of “caste-wide” education. The Brahmans were made to learn about religion and scriptures, while the kshatriya would learn about warfare activities. The Vaishyas would be taught mathematics and commerce activities, while the shudras, believed to be of the lowest caste, were denied education altogether.How was the education provided?Also, the way education was provided to students used to be very different to what it is now. Back then, students were made to stay at “ashrams”, which usually used to be far away from their home. Furthermore, they were made to follow strict guidelines laid down by their guru.The changes beginning to set inHowever, the population started increasing at a rather tremendous pace after the beginning of the Gupta empire period, and hence, learning centers were set up in cities such as Varanasi and Nalanda. This obviously also led to many changes in the then education system of India.However, religion still used to be a major factor while providing students with education. Apart from religious teachings, however, students were also taught various different things such as arts and science, politics, economics, philosophy, and so on. Needless to mention, back then, all these different educational elements were called by different names.More informationIf you are looking to learn more about the Indian education system, you can visit SearchAllIndia.com, a blog dedicated to the modern Indian education system.