Education
Education is the key to successful day trading and there are many training options available online. Whether you’re looking for specific forex, futures, or cryptocurrency training for advanced traders or free ebooks for beginners, we’ll explain how to find the training course that best suits you and your needs.
Day trading is a vast subject that can seem overwhelming to potential traders. The truth is, trading is complicated. There are no shortcuts or rich plans, and don’t trust anyone who tells you otherwise.
Trading experience
But that doesn’t mean you can’t make money from day trading. It means that if you want to profit from trading, you also benefit from the experience and expertise of others. Investing in the best trading education will equip you with the essential knowledge, an invaluable support network, to pave the way for trading success.
Here, we are going to give you some pointers to help you choose the right online day trading education for you. None of the available services are a substitute for what you ‘learn on the job’ (trade and building experience), but you can improve and improve your skills by working alongside your own trades.
Specific course
If you haven’t traded yet and are looking for the best trading education, it’s a good idea to think about what kind of trading you want to do. Are you interested in trading options or futures? Do you want simple stocks or complex indices? There are many options available:
Stock/stock trading
The most well-known form of trading. This includes buying and selling shares of other companies through the stock exchange. Ultimately, you can describe which of our stocks are best suited for day trading – volume and volatility.
Most stock trading educational materials are about ‘buying’, a long-term strategy based on a company’s fundamentals and values. Day trading stocks are more dependent on price action. Therefore, learning about technical analysis is more important than company analysis.
Forex trading
Forex is a very popular form of trading, with billions of transactions being made every day. Short for ‘foreign exchange’, forex trading speculates whether one currency will be worth more than another. We have a separate article on forex education training here.
Commodity trade
Commodity trading is where you trade things like precious metals or raw materials from which you make other commodities. Products are divided into two groups. Hard commodities are those that are mined (gold, oil, etc.).
Cryptocurrency
Cryptocurrency currently requires a lesser level of education than most products. Of the things you may have heard of, Bitcoin is the most famous example of a cryptocurrency. Bitcoin and other banks like Litecoin and Ripple are digital currencies that operate independently of banks. Cryptocurrency transactions use digital wallets, blockchains, and complex cryptographic methods.
However, you can speculate on price movement without owning the cryptocurrency. This simplifies the process and makes it much more accessible.
Futures trading
Futures involve predicting whether the price of a commodity or stock will increase or decrease within a given period of time.
Options trading
Options are one of the more complex forms of daily trading and will certainly require some form of trading education. Basically, it involves the purchase of an ‘option’ to buy or sell a stock over a period of time or later, depending on what the stock will be priced at. fall down
Binary options trading
A binary option is a simplified form of options trading that predicts whether the price of a stock or commodity will rise or fall over a set period of time. Your investment ‘stake’ is fixed, so potential losses are offset. Because the payout is known in advance, it is often referred to as a ‘fixed risk’ trade. Traders will know how much they win or lose, regardless of the size of the underlying asset’s price movement.
Binaries are a high-risk trade and training options are limited. They have been banned in Europe due to the proliferation of scammers. Paying for training is equally risky, and free websites or forums are excellent options along with demo accounts.
Index trading
Traded indices contain trades for a group of stocks related to a particular area. For example, the FTSE 100 is a collection of the 100 largest companies quoted on the London Stock Exchange. The S&P 500 and NASDAQ are similar groups of stocks traded in the United States.
You can trade these index prices, and learning how to trade them revolves around analyzing the price action and economics of the market as a whole.
Social/copy trading
Social or copy trading involves setting up a trading account and linking it with the accounts of other, more experienced traders. Whatever trades they trade, your account also means your profits and losses are ‘copied’ with respect to the amount you invested.
Sing trading
Although swings are not a form of day trading, many day trading educational sites offer courses. Swing trading is a form stock trade where you hold a stock for 2 days to 2 weeks in order to profit from ‘swings’ in price.
Free vs Paid Training
Cost comparison
One of the main things to consider if you are researching trading education is cost. The first thing to point out is that there is no such thing as a free lunch. Almost any platform or course that promises free trading education or tips will at some point make you want to pay for more in-depth services.
The goal is to find reputable, high-quality courses that offer value for money. What constitutes value for money depends on your own ambitions and circumstances. Things to consider include:
- Know what you want: There are tons of trading education opportunities out there. Before you enter your card details on the first website that helps you achieve financial freedom, you should know what you’re getting into. Do you want to trade futures or forex? Looking for a little investment? Do you learn best by reading or watching? Would you like someone to walk you through the basics, or can you crack some by investing in some indicators? Knowing these things can save you a lot of wasted money that you can better invest in successful trades.
- Doing the Assignment: Some websites do some research beforehand about how much they will charge for a course or training package, while others require further research. If a course offers ‘free’ instruction, you’ll probably have to pay for it after many lessons. Read the fine print or cut costs if necessary, as these costs are not always advertised or obvious.
- Budget: Course and indicator prices can vary greatly, from $20 to $9000. There are also subscriptions ranging from $10 to $200 per month. Spending top bucks is a big deal, so if you think a premium course is right for you, make sure you can afford it and get your money’s worth.
Find level
Online trading courses are often beginner, intermediate, pro or similar. Expect prices to be on a sliding scale, with beginner courses being the cheapest and going more expensive.
When searching for the best trading education, realistically evaluate what level of trader you become. If you don’t know FTSE at your elbow, you can’t become a premium trader straight away from the gold member trading room if you sign up for premium.
On the other hand, if you want to invest a bit in stocks and take your trading to the next level, or if you want to engage in a different kind of trading, the intermediate course is for you.
Advanced trading education should only be considered by those who have been trading full-time for a while, and I think some mentoring wants to work with trading and keep their strategies fresh.
No matter what level you are at, remember that education works best as an aid to trading. All tips and books that money can buy and demo accounts are no substitute for real live trading.
Pay for quality
Day trading education varies greatly in the quality and type of resources offered. Also, beware of trading school founders who say they started offering courses because of the difficulty of spending money on non-tradable systems and indicators. An expensive course does not necessarily equal a reliable course.
The types of services or resources you can expect to receive as part of your trading education package include:
- Indicator: A program that analyzes and indicates the direction of stock prices using various calculations
- Demo account: You can practice trading using a simulation platform and simulated money
- Webinars / Tutorials / Live Lectures: Online lessons or tutorials with experienced traders
- Mentoring: One-on-one support from expert traders
- Downloadable Material: This can be explained in more depth with a PDF booklet or interactive quiz-like deal.
- Weekly/Daily Email: Can provide insight on a specific trader or advice on the market for the day.
- eBook: eBooks are sometimes offered for free to draw attention to more detailed paid courses.
A major indicator of the quality of a course or package is how much traders trust it. Invest money only if:
The traders behind the training have at least 10 years of experience and demonstrable success. Only through direct experience can you become an expert trader. Anyone who doesn’t have a substantial amount isn’t worth spending the money on.
This course teaches you how to trade on your own. Any true trading teacher or mentor will empower students to trade on their own. Any course or platform that requires ongoing payments to maintain a site is less likely to put you in the right headspace to become a successful independent trader.
Education website review
Now we know what we are looking for and what we can offer. Let’s take a look at the best trading education websites there and get an overview of what they offer.
Day Trading Academy
Day Trading Academy is the brainchild of Marcello Arrambide, a trader with over 17 years of experience. Having lost a ton of money on bad software and indicators, he built his own hands-on experience and made Day Trading Academy an “organic approach” to trading education.
His theory is that people who learn through day trading academies teach others what they learn. Not a company. “Merchant Community”.
So far inspired, but what does this actually mean? Day Trading Academy focuses on futures trading. Specifically, it uses the E-Mini S&P, a US futures index derived from the S&P 500. Day Trading Academy focuses on teaching you to use indicators but trade for yourself by instructing you to use a system called the Congressive Trading Strategy. .
The Day Trading Academy is open to traders of all experience levels (categorized as Beginner, Intermediate, Advanced and Pro). When you sign up for our newsletter, we give you a free 41-page PDF booklet and a free web class.
If you want the full four-part course, it currently costs $2997. To do this, you can get feedback and advice on videos, exercises and progress in your knowledge.
Warrior deal
Warrior Trading provides trading education in various areas including Options, Swing and Cryptocurrencies. Like Day Trading Academy, Warrior prides itself on being a trading community.
The difference is that Day Trading Academy focused on the personal journeys of its founders, whereas Warriors focused on the testimonies of successful warrior students. This makes up for the fact that only one of Warrior’s five mentors has quite a bit of trading experience.
In fact, one of Warrior Trading’s main selling points is its live, members-only chat room, which includes commentary from other traders, Q&As, and watchlists. The strength of the trading philosophy is that it teaches the trading system through a 15-chapter course.
In terms of trading education, Warrior offers three packages: Starter, Pro, and Inner Circle dedicated to applications. Among the contents of this course are access to chat rooms and trading simulators. In-depth courses and group mentoring start with the Pro package. Exclusive access to main traders and one-on-one mentoring is only available with the Inner Circle package.
The Warrior Starter package costs $997 per month. Pro Bundle packages range from $4299 to $5299 for 90 days to 1 year. Both packages include a Warrior subscription for $197 per month. The Inner Circle package is $9997 per year.
Bilateral transaction
Quantum Trading is the brainchild of Anna Coulling, an experienced trader who has written some of the best selling educational books on trading. Quantum Trading training covers a wide range of trading types including stocks, forex, cryptocurrencies and binary options.
Quantum’s approach to trading education is to sell indicators and platforms. Unlike Day Trading Academy and Warrior, there are no courses or strategies offered here, but there are free video tutorials and articles on how to use the products on offer.
The indicator packages offered by Quantum are mostly forex-based, but range in price from $20 to $900 covering some other territories.
IG Academy
IG Academy is an award-winning trading education website with over 40 years of experience in the trading sector. With a focus on trading with leverage, spread betting and CFDs, IG helps you trade in a variety of styles such as indices, forex, stocks and commodities.
IG Academy offers several free courses including video tutorials, interactive exercises and quizzes.
We also offer a free demo account for those who sign up for our live trading webinars and website. It also has a free chat room with over 30,000 members (although you must be a member to post).
In the long run, what IG Academy recommends is that you sign up to use the trading platform. Unlike the companies described so far, IG makes money by charging transaction fees. If your trading volume falls below a set amount, you will be charged $30 per month.
In Bestopia
Investopedia is a US-based company founded in 1999 with the goal of “empowering people with accurate and unbiased financial education.” They offer a range of finance courses at Investopedia Academy covering everything from day trading to personal finance.
Investopedia’s trading types include options, forex, cryptocurrencies, penny stocks, binary options, and more.
All Investopedia courses are $199, and various bundles are available at various prices. The payment is one-time, there is no subscription, and once you buy a course, you must keep it. Lecture content generally tends to include videos, exercises, and downloadable materials. The website also provides access to past free webinars.
Investopedia has a different academic approach than many other educational websites we are looking at. Use it to buy courses, learn, and advance your trade. We do not sell the platform or set of indicators.
Online Trading Academy
Not to be confused with the day trading academy, the USP of the online trading academy is a “patented core strategy” that can be applied to trading stocks, forex, futures and options.
They have more than 130 tutors, many of whom are experienced in real trading. To join OTA’s paid courses, potential traders must first take a free half-day class.
The Core Strategies course has two levels: Core Strategies and XLT Core Strategies (XLT stands for Extended Learning Track). The Core Strategy course is a two-part course that costs $7,000 and takes seven days in a class of 22 or fewer students. In addition to teaching OTA core strategies, it provides access to a real-time trading platform and includes an exam at the end.
The XLT course is $8500 for 3 months and you can either subscribe for $625 the following month or pay $12500 for 3 months and get lifetime access. The XLT course is a mentoring situation for real trading. Real-time trading is possible using OTA’s trading tools and talking to investors.
Stock whispers
As the name suggests, Stock Whisperer is a stock-focused trading education site, but comes with swing and options education packages.
Stock Whisperer is Stefanie Kammerman, a famous name in trading circles that has been trading since 1994. Kammerman is known as the Stock Whisperer due to her sixth sense when it comes to stock market movements.
The Stock Whisperer website is a treasure trove of stock educational resources. Her subscription-only trading room, The Java Pit, allows traders to view their screens pre- and live trading.
The focus of many course packages is to coach you to trade for yourself. Her one-on-one equity coaching with Stefanie herself is available for between $299 and $1249.
Stock Whisperer also offers ‘boot camp’ packages of varying lengths. This is an intensive online course that will educate you about trading and allow you to engage in simulated trading.
Boot camps cost up to $3499. There are also downloadable workshops that look at other aspects of trading. This is better for traders who already have trading experience and retail between $99 and $999.
TRADEPRO Academy
TRADEPRO Academy was founded in 2012 by George Papazov, a Canadian with almost 20 years of trading experience despite his youthful appearance. TRADEPRO offers to ‘certify’ potential traders in stocks, options and forex trading (you do not need to be certified to trade stocks in your broker account here).
TRADEPRO has 3 levels of trading courses: Swing, Pro and Elite. All access the same courses and webinars and daily tips in trading foundation, options and forex. The Pro and Elite packages provide access to additional courses, additional support, mentoring and more trading software.
One of the attractive aspects of TRADEPRO courses is that they are purely monthly subscriptions, as opposed to prepaid payments and subscriptions. Swing packages are $99, Pro $129 and Elite $169.
Trade net
“Tradenet is the world’s leading daily trading academy” announces on their homepage. Tradenet focuses on training in Forex, commodities and EU stock trading. The brains behind the company belong to professional trader and market guru Meir Barak, who founded the site in 2004.
Tradenet offers a variety of daily trading courses and resources. There are self-study courses, lecture courses, weekly mentoring sessions, and training packages, which range from a few hundred dollars to around $5,000. You can download the resources yourself or have a one-on-one session with one of Tradenet’s expert educators. All of these materials are based on Meir Barak’s Personal Trading Strategies.
Tradenet sells four trading education programs: Intro, Student, Expert, and Expert. These prices rise from $500 to $9000 and include access to some of the sessions and resources mentioned above as well as a demo trading account.
Online educational trading videos
One thing not covered in this article is the role of YouTube trading training videos. The first thing I have to say about this is that while they have a place, they are a potential minefield. If you are looking for free trading training on YouTube, you should apply the same level of research as trading training courses.
Before relying on videos because they have impressive graphics or great titles; You should consider whether the presenter of the video has significant experience as a trader. Are they truly teaching you something for free or tempting you to buy something you don’t need?
Can a job as complex as a day trade be distilled into a 5- or 10-minute YouTube tutorial?
As a basic guide to daily basic trading for beginners, YouTube is hard to beat. However, it is questionable how many traders worth their salt will provide their trading education completely free of charge.
