My Wealth

Sean Hyman, Head Course Instructor at  MyWealth.com

What is your professional background?

I have held a Series 63, 7, 9, > 10 and 3 licenses. Those are stock brokerage and managerial licenses as well as one for forex. I've worked for Charles Schwab in stocks and  FXCM.com in forex before coming to My Wealth. I've been a trader/investor for a total of about 16 years now.

Can you briefly highlight for us My Wealth’s involvement with the
foreign exchange market?

Yes, we educate people in this market. We're not a market maker. We do however, help people get started in live trading through www.fxedu.com .

We find that many people really are new to this market and need an inexpensive way to not only read material but more importantly, have access to real, live traders so that they can learn from them. This is why we let them do this through our 24 hour a day, online forum format...that comes with live instructor access. They answer your personalized questions there. So it's like reading a book, then being able to directly ask the author your direct questions. It's a neat model really.

Could you please describe the services your company offers for the Forex market?

Yes, while we offer courses on many things financial (personal finance courses and stock market courses), we take great  pride in our forex course because it teaches someone fundamental analysis, technical analysis and most importantly risk management.

Fundamentals form the trends in the first place and tell you where the currency should go over the long haul. However, technicals help you to hop into those fundamental trends at better times and help you to exit  them in a timely fashion as well. This is why we teach both concepts  and feel they work together and are not conflicting to each other.

So a person can take a course...anywhere around the world, in our 24 hour a day online format. Instructors are literally there from Sunday evening to Friday evening, 24 hours a day to answer your personalized questions...for a price that's cheaper than a book ($19.99). You also get to download the PDF files of the course material and the video webinars contained within the course as well. This way you can review the material at your leisure even after the course is over....AND you get 1 year's email access to the instructors afterwards. So when a question comes up, you can fire off an email to them and usually get a response back, same day.

 Who is your targeted audience?
Anyone that feels they want to learn more about this market in an inexpensive way AND get personalized  responses from guys that have been doing this for a long time. To me,  having access to actual instructors that really trade this market live  is the invaluable part of all of this. It also comes with a money back guarantee. So there's really no reason why anyone that wants to learn more about this market can't do so.

Who are your main competitors in the Forex Education market?

*Most of our competitors, aren't really competitors to us. Because you could say someone like Investools.com could be one...but they charge $219.00  a month (for 6 months). So since we have such a price difference with  them, I don't consider it to be a true competitor. Our model is to  have a ton of students around the world rather than just a small group
that we charge a fortune. That's the difference. We'd rather you put the bulk of your money into your trading account and profit from it.

What are the main advantages you have over your competitors?
Price and experience. The instructors are not young guys. They've been trading live, in markets for a long time...in stocks, bonds, currencies, etc. So they understand markets. The other main difference is price...$19.99 instead of $1,000 plus at many places. Also, the online experience means that you take this in your off time whenever that is. You don't have to be there at a certain time of day in order to get an instructor's ear. They are there 24 hours a day, Sunday evening through Friday evening.

 What are your personal thoughts on how the financial crisis is affecting the Forex market?

I think it's been great for the forex market. When the yen crosses were caving due to the credit crunch,  traders were short and making a ton of money for a very long time. However, those that wanted to be long a pair enjoyed being long the  dollar during this time. In fact, during the entire crisis, money  flowed into the dollar, yen and gold mainly. So the forex market  offered two of the three main "macro" instruments that were going up during this whole sell off of stocks and commodities all around the world. So we were positioned very well for the down draft...and its reasons like this why I feel that everyone needs to have some currency  exposure in their portfolio to some degree.

What else do you offer?

A personal finance course and stock market course. We will shortly offer advanced forex courses that have exact strategies..entries, exits, stops, etc. One course will have swing trading strategies while the other will have daytrading strategies.

These advanced courses will cost more..however, there is a way that  they will be able to get these courses for free if they open an account with www.fxedu.com with a certain initial deposit amount. We'll have more on this soon. So keep an eye out on the mywealth.com
 site for these to come in the upcoming weeks.

Is there anything exciting happening at My Wealth?

Yeah, we make daily You Tube videos on our blog that are free to anyone. They can subscribe to our written blog for free. We also offer shorter term market insights on a new blog that we run at www.forextradingblog.com too. So there are many ways that someone can learn more about this market from us. We hit the highlights in the blogs and get in great detail in the courses.