Find the Best Stock Trading Course for ME!
If you want to accelerate your trading journey it is essential to learn from another trader by taking a course and/or finding a mentor. There are so many different ways to make money in the stock market but the best online trading courses will focus on a specific type of trading or strategy. A course that claims to teach you everything will just provide lots of useless information and not give you the depth you need. Before you sign up for an online trading course you need to answer the following questions.
1. What Experience Level is The Course for?
How long have you been trading? Do you know how to read a stock chart? Are you looking for a beginner course or a more advanced course? Your experience level will be a major factor in determining the best trading course for you. Remember, a trader should always be learning so the best trading course for you will change over time as you gain experience and learn more.
2. What Trading Time Period is the Course Teaching?
Day trading is when you enter and exit a trade on the same day. Swing trading is a method of trading where you enter the trade one day and close the trade between one day and several months. Investing is a method of trading where you plan to make money off dividends. Different trading courses teach you methods that focus on different time periods. Additionally, there are day trading courses that teach methods specifically based on the 1 minute, 10 minute or 60 minute time periods. Before signing up for a course, make sure the time period that is being taught is what you want to learn.
3. What Style of Trading is the Course Teaching?
Most new traders do not realize that stocks trade differently based on the type of stock and/or company the stock is associated with (tech, retail, biotech, entertainment, utilities, etc…). The stock float and price also cause the stock to be traded differently. A catalyst such as earnings, secondary offerings, FDA news, or an analyst rating can also cause stocks to move. Due to these factors, many online trading courses only teach you how to trade a specific type of stocks and/or a specific type of catalyst.
Do you want to trade stocks, options, or foreign exchange (FOREX)? Do you want to learn about technical trading or shorting? All of these questions should be answered before you select a trading course.
4. Is the Course Worth the Cost?
Most trading courses cost between $200 and $2000, some are a one-time fee, others are part of a subscription plan. You can even find free trading courses. The main downside with free trading courses is that the person taking the course (YOU) does not value the information as much. This causes the user to not pay attention and ultimately not to understand the information.
I recommend you start with a free course or some YouTube videos (OptionAlpha.com or AwesomeCalls Trading YouTube). Although I just said you won’t get as much out of it, the reality is that you will start the process of being exposed to terms and concepts. Then when you do pay for a trading course you will understand things easier and will be able to grasp the main course content fully.
Do not pay more than $1000 for a course until after you have been trading for at least a year. The reason for this is that the more expensive courses tend to be very specific and teach a specific style and/or method of trading. Although the content is worth the cost, it is only worth the cost if you are interested in that specific style of trading. New traders do not know what they don’t know. It takes time and practice to figure out what style of trading makes sense for you. Be patient and learn slowly.
If you need a starting point for a trading course, most of the chatrooms I recommend have paid courses that you can take. See the list of Chatrooms.