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New trader, confused about courses


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New trader, confused about courses

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  #11 (permalink)
 kevinkdog   is a Vendor
 
 
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bavan666 View Post
Thank you for your insights, I'm currently a 2nd-year finance student, I was originally thinking of pursuing a CFA, but then after going through the course contents I realized that it won't directly help my trading as it seems to be more investment-oriented, the same issue with preparing for CAT and going for an MBA, they don't teach what I want to learn, so I was thinking that rather than spending money over there, I could spend it on trading education which would directly be in line with my goals, but I guess the real education lies in just getting comfortable with the charts and spending a lot of time with them, since I have my classes in the morning and can't observe the markets live, I mostly observe and paper trade the emini on tradingview in the evening (morning in the US).
I had a question, when you say working in the industry, where exactly do you think I should apply?
As a derivatives dealer or something else?

Yes, an MBA will not help with actual trading. I took graduate level courses in futures and options as part of my MBA (after I had been trading for a while), and I easily had more practical market experience than the textbook and the instructor. An MBA would be useful for the management side of a trading firm, but not actual trading.

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  #12 (permalink)
 Fonz 
Miami, Fl
 
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Hello Bavan666 new Trader, I suggest the https://www.cmegroup.com/education.html
It is free and they have a lot of interesting courses.
Wish you the best.

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  #13 (permalink)
bavan666
Mumbai, India
 
 
Posts: 18 since Dec 2021
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bobwest View Post
Let me help you with this: don't spend any money on any courses. At all. Ever.

They are not all bad -- although probably most are -- but whether good or bad, they will not give you what you need, which is enough familiarity with what markets do to be able to put good ideas to use. (Assuming their ideas are in fact good ones, which usually they are not.)

What you need is to get some understanding of some reasonable-sounding method, that makes sense to you and that appeals to you, and start to put it to use, for yourself, and make adjustments as you go. You may just completely toss it out in favor of some other ideas, which is fine. But work with them yourself, see what they offer, understand them in a very basic, hands-on way.

With enough screen time, you will find that some things work well for you and other do not, and you will be on your way. You can use group resources such as internet forums (like this one ), and you can learn from others, their successes and failures, and take their suggestions (cautiously, validating them for your yourself.) You could take a free charting service like TradingView and simulate trading. But find a way to be as hands-on as possible.

There are many ways you can put the time in to learn what works for you, but it is what works for you that matters, not what someone tells you will work.

I will say that I have given this advice to many new and not so new traders, and I think that generally it is not taken, which is too bad. I hope you will think hard about it before you send your money to anyone who tells you they will teach you how to trade.

And good luck.

Bob.

Wow, thank you for the detailed answer, guess it's really going to be a long journey huh

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  #14 (permalink)
 bobwest 
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bavan666 View Post
Wow, thank you for the detailed answer, guess it's really going to be a long journey huh

Yes.



Bob.

When one door closes, another opens.
-- Cervantes, Don Quixote
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  #15 (permalink)
Symple
Zuerich / Switzerland
 
 
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bavan666 View Post
Hi, I'm new to this platform and this is my first post,
I'm 19 and I want to be a full-time trader, I started last year and have spent a lot of time going through all the free resources on the internet, like babypips, varsity, and have read a ton of books on technical analysis.

I want to spend money now on a course because I feel the free resources don't really give you the complete picture and don't tell you what you need to do from start to finish, I was initially considering working for a prop trading firm but unfortunately, in my country, there aren't a lot of them, and the few good ones that exist only hire traders that are already profitable.

So my only options are learning online, but the thing is, no matter which course I look at, I always find some review out there on some forum saying that the course is a scam and a waste of money, it seems like there isn't a single good course out there that gives you professional training, for all the profitable traders out there, how did you learn how to trade? what were the resources that really helped you, are there any good courses out there that aren't a scam?

@bavan666

I have been seeing you here in this forum for a few days now and I am wondering what you are doing here. You are from Mumbai, you are 19 years old and you make big talk that you want to become a full time trader. So far, so good. I have in my younger and even older years also always knocked time to time big sayings and that's ok from my point of view. So never mind. But nevertheless:

May I ask how you have earned your money in India until today?

May I ask you why you ask for the most expensive and mostly only the cheapest trading rates in the USA?

There are excellent traders in India. There are also excellent platforms in India where, if you are lucky, you can get in touch with such people if you ask the right questions.

Have you ever steered your musings in this direction, as Nifty and Banknifty are also great markets to trade? When I was living in Asia, analyzes on those markets where done daily and so I can assure you the great quality to make money in this markets.

I wish you only the best when it comes to solutions that help you.

I wish you further a nice weekend.

Symple

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  #16 (permalink)
bavan666
Mumbai, India
 
 
Posts: 18 since Dec 2021
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Symple View Post
@bavan666

I have been seeing you here in this forum for a few days now and I am wondering what you are doing here. You are from Mumbai, you are 19 years old and you make big talk that you want to become a full time trader. So far, so good. I have in my younger and even older years also always knocked time to time big sayings and that's ok from my point of view. So never mind. But nevertheless:

May I ask how you have earned your money in India until today?

May I ask you why you ask for the most expensive and mostly only the cheapest trading rates in the USA?

There are excellent traders in India. There are also excellent platforms in India where, if you are lucky, you can get in touch with such people if you ask the right questions.

Have you ever steered your musings in this direction, as Nifty and Banknifty are also great markets to trade? When I was living in Asia, analyzes on those markets where done daily and so I can assure you the great quality to make money in this markets.

I wish you only the best when it comes to solutions that help you.

I wish you further a nice weekend.

Symple

Well, I do trade nifty and banknifty as well on sim accounts, but I'm a student so I have my classes in the morning so I don't really get to trade the markets live, to get that live market experience, I started sim trading the s&p emini as it's evening here when the US markets open which is also how I found this forum.

As for looking for traders in India, there are very few day traders here (who are also good educators), most of the people I've seen focus more on swing and positional trading, which is nice, but not what I'm looking for, I really want to study trading using market profiles and footprint charts and don't see a lot of people who use these methods for trading in India, I made some money by buying good companies on dips during the initial covid crash, so I was thinking of using that money plus some money I've saved on my own get proper day trading education.

I've been studying the free resources too but I guess my mind is having a tough time accepting it, as usually, you don't really get anything good for free.
Now I didn't mean to make "big talk" about becoming a day trader, as statistically, I'm definitely more likely to fail than succeed, but even if a few people out there can do it, I don't see why I can't if I put in the efforts, so far I'm really enjoying observing the markets, and it would be a great thing if I can get good enough to do it full time as well, I've spent the past 1 year studying a lot about trading, and I know I'm not even 1% of the way through, but I don't mind it, since I'm having fun doing it.

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  #17 (permalink)
Symple
Zuerich / Switzerland
 
 
Posts: 267 since Sep 2021
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@bavan666

You wrote: "But I don't mind it, since I'm having fun doing it".

Well, this is a good approach to keep on moving on the topic. Keep it going on as long as you can and then make the change to what you wish.

Symple

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  #18 (permalink)
Mozart2112
Minoqua Wi USA
 
 
Posts: 113 since Sep 2019
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GFIs1 View Post
Well - hello to India
Don't waste your money on courses...
Trading is a "get a feeling of your instrument!". This takes of course TIME. Much of it.
Look into the most visited webinars here on fio.
If you start today and watch every interesting webinar 24 on 24 - you will not finish before new year.
Nothing to worry about - the successful traders are investing a lot of time to KNOW their INSTRUMENT -
by heart! Such said - welcome aboard!

GFIs1

I completely agree, you have to learn the animal and what makes it tick...

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  #19 (permalink)
 Nasdaq1517 
Honolulu Hawaii
 
 
Posts: 27 since Oct 2021
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Stay away from all courses... books and resources are plenty and much less expensive. I would recommend picking one instrument (stock,futures contract, currency pair) and learn everything about it put the screen time in pick a time frame that you can make sound decisions and not feel rushed and trade small. And do that everyday for a year with a strategy that suits your personality (plenty of free strategies available) at the end of the year you will have gained more experience and knowledge than any course could have taught you. Also I would recommend just trading tiny amounts instead of paper trading feeling the real emotion will help you see if trading is really for you.

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  #20 (permalink)
 forgiven 
Market Wizard
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most trading educators just teach trading . they can not do any . they are just playing trader . software vendors as well . you can find almost every book every written on trading free on file sharing sights . there are thousands of free webinars on this sight and online . there is more content already created than you can go through in your lifetime . there is no reason to pay for it .

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