Almost every novice trader has come across an advertisement for training courses and training on the stock market and cryptocurrencies, the creators of which promise 100% result after passing them. This is why many experts question the effectiveness of such training courses and online seminars.
Why are trading courses not working? Where is the best training course? What should you pay attention to before training? The answers to these and other questions are in this review!
Why are the training courses not working?
The problem is not in the courses themselves but in the false materials and pressure on the weak points of the beginners. Surely many have seen a similar phrase: Opened a deal and lost the entire deposit? We recommend taking our training course on successful trading, after which each trade will be closed with a profit. The saddest thing is that half of the people who came to the stock market believe this.
Of course, training is a multi-billion dollar business that, thanks to well-developed content management, is successfully developing and profitable.
Tens of thousands of people come to the securities and cryptocurrency market every day, but not every one of them becomes a successful trader. According to world statistics, only 5% of traders are able to trade and earn a stable income in the market, and 95% suffer losses or trade “to zero”. The problem of people in this 95% is the unwillingness to understand the reasons for trade failures since they are guided only by theory.
It is noteworthy that the vast majority of traders in the 20th century did not have the opportunity to undergo any training, but they became successful and made a fortune.
Before buying this or that training course, a trader needs to understand that this is just a theory. It is necessary, but it does not depend on it.
Where is the best training course?
The following are the time-tested methods of teaching trading:
- Literature (mostly foreign)
- Monitoring the work of professional traders (for example, on eToro)
- Open a demo account and try your hand at practice, based on the knowledge gained from books
The practice is the foundation of success and, when combined with theory, can guarantee a stable income. Undoubtedly, 99% of people come to the stock market even without basic knowledge, but after a while, only a few understand that trading is a profession that requires a certain concentration of attention and intellectual development.
A logical question arises: is it realistic to learn how to trade on the stock market yourself? The answer is simple: self-study is the perfect start for newbies, and it’s completely free. At the moment, there are many different articles on the topic of trading on the Internet. Any question can be answered and the so-called “secrets” simply do not exist.
Wall Street traders recommend that their students learn the basics and terminology, including moving averages, upward movement, candlestick chart, timeframe, brokerage account, and so on. The following books are also recommended for reading:
- Nassim Nicholas Taleb – Black Swan (2017)
- Jack Schwager – Technical Analysis (2016)
- Eric Nyman – The Little Trader’s Encyclopedia (2014)
- Philip Fisher – Common Stocks and Extraordinary Earnings (2002)
- Jesse Livermore – Stock Trading (2009)
- Edwin Lefebvre – Memoirs of a Stock Market Speculator (2004)
It should be understood that without practice, there will be little benefit from reading the above books. Also, all free training courses are based on the world’s books about trading. The essence is the same, only in different words and with a different presentation of the material. There are no “trading secrets” and “100% working strategy” that can make a newbie a super successful trader.
Even if a beginner still wants to purchase a training course or attend some kind of training, he must understand that all falling information is freely available. It would be preferable to attend paid courses on the psychology of trading on the stock exchange and risk management check price forecast of stocks is their cryptocurrency have Ethereum price forecast to give little bit idea to judge the market position or get level when you get entry and exit that was very important.
As soon as certain knowledge has been obtained, it is immediately necessary to work it out on your demo account. As soon as a trader learns how to make technical analysis, has his own trading style and his own risk management system, then you can open a real account and start trading with real funds.
Let’s sum up
It is safe to say that the vast majority of course creators are not interested in the results of their students. The main goal of such courses is to capitalize on the ignorance of beginners, and that is why they do not work. As has been said above many times, you can learn how to trade on your own and for free.