I'm a beginner learning to trade. Have any of you tried taking the classes on tradingcourses.com? It's kinda expensive ($895 for six months access). I'm still learning and I hope these classes would accelerate the learning process but I don't want to pay for something if it isn't useful, which I find most of the internet to be junk.
Just use your local library, and get every book on trading you can. Most will be garbage, but after a while you'll start to get educated. You'll be able to separate wheat from chaff. Carley Garner and Brent Penfold both have written great beginner level books.
No beginner should need to pay for education.
Now, when you get more advanced, and settle in on an approach or style, then paying for education might be worthwhile. But even then, 95% of stuff out there is garbage, ore re-packaged info you can get for free.
Be careful, hold on tightly to your wallet - it is a jungle in the trading "education" world...
If you have any questions please send me a Private Message or use the futures.io "Ask Me Anything" thread
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Read about other traders approach etc. IMHO worry less about a trading "system" or method but spend your time understanding how to mange risk position sizing probability creation using Excel or something similar. Have you read any Mark Douglas books? What beliefs do you hold regarding greed fear missing out leaving money on the table being right control failure needing a sure thing. Work on training your brain to be able to have 9 losing trading in a row but still being able to take the 10th trade when it shows up as if the 9 before never happened. Just like a Navy Seal has had training to the point that he can walk into a terrorist gun battle for example and conduct himself in the appropriate way to get the job done successfully where as the average guy on the street would have an accident in his pants and be paralyzed with fear.
Doubt kills more dreams than failure ever will. Perfect: the enemy of Done. per·fec·tion·ist: ultimately one lacking self-confidence
Buy Low And Sell High (read left to right or right to left....lol)
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The information on Tradingcourses.com is very specific and not applicable to the majority of traders, IMO.
The section on personal development is very well arranged, but not anything that can't be found on FIO for free. I purchased it primarily for the DOM course and Trading drills. I found the info to be very basic & tailored specifically to a few platforms that I don't use. A major portion of the DOM course was actually just the free course from Jigsaw Trading so I didn't learn anything new there. The bulk of the drills seem geared towards trading spreads... again, not useful to me.
I found a large portion to be tailored to spreads, options and swaps. All aspects of trading that I have no interest in.
If you are interested in the topics I listed above, it may be worth the investment. But for me, I did not find it to be a good value. Part of this is due to the fact that I am a Visual/Auditory learner, so I learn best from Multimedia such as video courses. The bulk of the TC courses are text, which does not cater to my style of learning.
I agree with wyz00888, I would recommend the basic and intermediate courses from John Grady at No BS. At 1/3 the price, it is a far better value and contains information that is difficult to find elsewhere.
Last edited by Heph333; October 15th, 2016 at 08:27 PM.
If you look in the right places you will find very valuable free material out there. People who learn are looking for a "setup". There is no setup. You have to understand the markets, the players in the markets, who does what and why ans how, learn the foundations, apply and experience. Experience is something you can't learn or buy. I have trained a good number of people and nobody gets out of a training course and becomes a successful profitable Trader straight after. It very often feels like people are looking for some thing that doesn't match with the reality of the market, hence the 90/90/90 statistics that we all hear about.
I am a pure order flow trader but this applies to any other style you might choose to work with.
I did reach out to Guy and he was very accommodating. After a brief discussion of my trading style, he provided me with some extra info and drills that were more suited to my goals. A+ for customer support.
What I find interesting is that it is perfectly acceptable that it should take years to become a lawyer or a doctor or a mechanics etc, but becoming a trader should require to watch a couple of videos on YouTube or to take a course to become a fully proficient profitable Trader. And it should be free too or be very cheap. Any other business involve important costs, taxes, rules, efforts, etc, but to learn to trade, spending a couple of thousands is not acceptable. This is a real business and it should be taken as such, what is a couple of years learning curve and a few thousands in material, software, data to get going seriously..?
I couldn't agree more. I lost money for the first 6 years. Then spent 5 years spinning my wheels. I've only been consistently profitable for 2. Last year exceeded my wildest expectations. I may not be six figures in debt for a doctorate, but I can guarantee I've put in as many hours.
Had I initially taken a 10 year outlook instead of trying to do it in 2, I probably could have saved myself 4 or 5 years.