I'm new to this forum and new to trading stocks. Can anyone recommend a course or program that teaches a newbie how to trade stocks? I've checked out a few of them such as Online Trading Academy. Most of these courses cost over $2000. Seems like a lot. Is there cheaper alternatives out there?
Looking For a Good Stock Trading Course/Program
- Thread starter Werm
- Start date
Don't waste your time and money on some scammers like OTA. You can learn most if not all of what you need to learn for free or very little costs.
https://www.khanacademy.org/economics-finance-domain/core-finance/stock-and-bonds
www.investopedia.com
Use extensively the search page here and at other sites like traderslaboratory.com
http://www.amazon.com/Trading-Dummies-Michael-Griffis/dp/1118681185/
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Richard Wyckoff
When I started I asked pretty much the same question on another forum. One of the senior members said take $500 and buy a few books, and save the rest for trading capital.
I did that. Started with introductory material like Elder's Trading for a Living and a couple by Van Tharp which helped with risk management and position sizing. Then moved on to stuff with more depth.
Began trading really small (no sim accounts here at that time) and analysed the heck out of every trade to develop entry, trade management and exit skills.
I still say that the advice I was given was the best I have ever received. So, keep most of your money in your pocket and spend the rest wisely.
Good luck on your journey.
I did that. Started with introductory material like Elder's Trading for a Living and a couple by Van Tharp which helped with risk management and position sizing. Then moved on to stuff with more depth.
Began trading really small (no sim accounts here at that time) and analysed the heck out of every trade to develop entry, trade management and exit skills.
I still say that the advice I was given was the best I have ever received. So, keep most of your money in your pocket and spend the rest wisely.
Good luck on your journey.
Read books/join courses and start trading with a small account ($5000 and no more). First learn how to trade successfully with atleast 10-20% returns "consistently" for a few months. OTA got too much bad press; they do teach you enough that gives you a perspective on what is going on at the other end of your trade. Through learning you will eventually develop your own strategy.... thats how I did it. You biggest issue is not about education, its discipline and psychology. If you know programming, develop your own program that helps you identify where to enter and exit automatically... that way you can overcome discipline and psychology barriers. .
The biggest problem any beginner faces is which path you choose to develop a strategy. Technical analysis is very different from fundamental analysis. OTA's demand supply strategy is very different from momentum strategies. Swing styles are very different from intra day & long term strategies. As a beginer, you will have to really understand your personality and see what suites you best... again not letting greed during this process is the key. IMHO, you should be able to develop a strategy if you keep observing the price action... without letting greed enter your mind. Hope this helps...
The biggest problem any beginner faces is which path you choose to develop a strategy. Technical analysis is very different from fundamental analysis. OTA's demand supply strategy is very different from momentum strategies. Swing styles are very different from intra day & long term strategies. As a beginer, you will have to really understand your personality and see what suites you best... again not letting greed during this process is the key. IMHO, you should be able to develop a strategy if you keep observing the price action... without letting greed enter your mind. Hope this helps...
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I've posted elsewhere on this forum the details of the Online Trading Scam along with the pricing lists and sales methods. They are ultra psychologically sophisticated, using targeted persuasion techniques.
If you get too close to them, you will not be able to resist turning over close to $100,000. Don't have it, no problem - they will finance at 17%.
I used to work for them so I know all about it. Also, their "supply/demand" Sam Seiden trading method does not work and the "big trader" instructors do not trade - they just say they do. If you see any statements or testimonials or trades, they're all fake, designed to take your money, which they do - $100,000,000 from wannabe traders every year.