Choosing a Trading Course
There are many trading courses out there, each with a different spin on how they teach and what they teach you. Some trading courses might be very broad, while other trading courses might specialise in trading psychology or technical analysis for example. In order to help you choose the best course for you, we are going to dive a little deeper on exactly what it is that you might be looking for.
Market Specialty
Different markets have different characteristics, and while they all go up and down in price, they all have different reactions to news, price levels, key dates, events and more which can really make it confusing when jumping from one market to another. Even if you are sticking with FX, the currency pairs involved will behave differently. Some are seasonal pairs, while some are driven by politics more than the core economy and so on. Gaining an understanding for market characteristics is a great start in working out what makes more sense to you and more importantly, what market might be more profitable for your trading. Check out our Market Characteristics series to gain more of an understanding of what this all means.
Understanding your preferred trading style
Your preferred trading style could be anything from trading at night, trading in the daytime, being in the market for a long time or being in and out of the market quickly. Sometimes these styles are given names such as day trader, swing trader, scalper or even high frequency trader (which is a little more technical than the others, but still a trading style). If you are a trader that wants to be in and out of the market quickly, then you probably wouldn’t want a course that deals with swing trades and vice versa for swing traders getting a scalping course.
Understanding your trading style will help to identify what your needs are as a trader and where you need to improve.
Understanding your limitations
When trying to improve yourself as a trader, it is great to be able to identify your weaknesses so that you can work on them. If you know what weaknesses you have, you can use this knowledge to target your needs and improve yourself. Selecting a course that specialises in your needs is critical to your success. Many courses cover similar topics, but some offer specialised input into specific areas of expertise. Find the course that works best for your needs.
Do your research, and be smart about it
Trading involves huge dollars, each candle you see on the FX market could be hundreds of thousands of dollars in movement, maybe more. See what customers enjoyed about the course, and if they talk about the topics you need to work on, then this is a great sign. With great reward, also brings a lot of scepticism and some haters to go with it. Do your research on each program you want to do, knowing full well that almost every forex, index and even stock market has someone claiming scam, when if you look deeper, it is often because they have missed a major point in the training or have not been bothered to put in the time. Try to find out what actual customers are saying, read into what their comments are and make a logical assessment. If they are saying they have lost all their money doing xyz, they skipped over the part about risk management. The big concern in finance with scams is where you put your money, so read here to protect yourself.
Look carefully at the features of the program, and assess if the deliverables are what you need. If you have a preferred learning style, such as via video or audio, this would be important when selecting a course. Many people would prefer one on one sessions however to find someone good willing to put in the time, it will likely be very costly over time.
Multiple Sources of Knowledge
Selecting a course might be a big step, but keep in mind, one course is unlikely to provide everything you need to become very successful. If you have big dreams, you will likely need to follow a few programs to get several professionals insights and work that into your own trading style. Your first course will be a huge learning curve, but as you gain more confidence, you will be able to absorb much more high-quality information over time.
Trading is also about ideas and concepts that will make money in the future. Having multiple memberships, education providers and content/idea providers can really help to broaden your horizons and have a bird’s eye view of many markets and how they function together. Specialising in one thing but being very aware of the environment can help to avoid mistakes.
Still unsure?
If you are a bit uncertain about trading still, or perhaps like to be more data oriented, perhaps automating the process of trading is your ideal cup of tea. It’s a great way to learn about the markets without stressing about placing orders or watching charts. Below, we explain more about our automated trading course as it could be the perfect fit for your needs.
Automated Trading Course
There isn’t too much out there on automated trading, possibly because many of the dodgy players find it too hard to understanding.
After spending thousands of dollars on coding education, with no access to easy features and so on, this course has been developed to save you years on your learning curve and get you up to a point where you can bring your strategies to life. To start your training and level up faster than all others (for a very reasonable price tag), check out the Automated Trading Course we have put together for you.