Online trading is currently one of the most accessible options for generating an additional income. Millions of migrant workers regularly send money online back to their home countries. Many of them do so for investment or business purposes, sometimes via online trading. Anyone with a smartphone can access the financial markets from the comfort of home. However, a thorough understanding of the markets is a prerequisite for profitable trading. Online courses can help aspiring traders get started. Yet, there are so many of them that deciding on the course itself can be a challenge. Here are some thoughts on how to pick an effective online trading course.
Online trading can take many forms. One can trade in the short or long term, with high or low volumes, in stocks or commodities, and so on. A course must match the learner’s objectives. Most courses specify some form of accomplishment upon completion. Some even come with a certification. Beware of courses that promise the moon. Effective courses clearly outline the learning expectations in a realistic manner. They specify what the student is expected to learn and how. Keep in mind that good courses are designed by seasoned professionals, and are usually not free. They are better structured and offer many advantages over free courses.
It is preferable to take a course offered by an expert trader with a proven record of success. For example, the Accelerated Trading Course by Bulls on Wall Street is taught by stock trading guru Kunal Desai. The trainer’s credentials count for a lot, and can be quickly verified by a simple search on platforms like LinkedIn and Facebook. Reviews are also helpful. Try to connect with someone who has taken the course previously, and get their opinion.
Pay as you learn
Online trading courses can be priced in various ways. For example, The Complete Foundation Stock Trading Course by Udemy is designed for newbies and is offered for $135. Another course called Warrior Pro offered by Warrior Trading is priced at $4,297 for 90 days, or $5,997 for 1 year. It is clearly targeted at more experienced traders. The two pricing options give access to different levels of online learning content.
Courses that are priced higher may not necessarily be the better options. Every learner has a unique set of needs that depend on the knowledge, skill, availability of time, aptitude, and many other factors. For this reason it is preferable to take a subscription course. Paying in instalments allows you to take more time to absorb the course content. If you decide not to continue with the course for any reason, you can opt out without spending too much.
Stock trading does require a hands-on approach at some point. The better online trading schools categorize their courses for levels of learners, such as beginners, intermediates, and advanced. Beginner-level courses generally emphasize foundation topics like chart reading, strategies for making profitable trades, trading psychology, selecting brokers, studying prices, and taking losses. Udemy offers some good courses for novice traders. The online academy’s most successful trading course is Stock Market From Scratch, which costs $195 for a full lifetime access. The student gets 7 hours of on-demand video and a certificate upon completion. Cheaper course options are available for those seeking only a basic understanding of stock trading. One can subscribe to modular courses for about $70 a month and get access to pre-recorded video content.
Courses with interactive sessions are usually 3 times more expensive. They really help students learn the complexities of trading. Programs such as Investors Underground allow students to interact amongst themselves and with the tutors. Intermediate-level courses offer more in-depth content. They also include features such as one-on-one mentoring and live chats. Such courses cover topics such as financial models, algorithms, and cryptocurrency trading.
Courses for experienced traders
Students who have ample trading experience can sharpen their skills further by taking advanced programs. A typical advanced course teaches trading psychology and probability patterns. Some programs let students watch professional stockbrokers in action. Dark Pool Secrets is a course offered by The Stock Whisperer at $9.95 for the first month followed by $69.95 for following months. TradePro Academy offers a course for $219 a month while Investors Underground offers Cutting-edge trading techniques at $1,497.
Professional stock trading comes with no guarantees. One can be a self-taught success or a very qualified failure. Having a professional certification in trading is necessary however, for those who seek careers within larger financial corporations.
Some certifications do stand apart from the crowd. The International Federation of Technical Analysts (IFTA) offers certification courses such as Certified Financial Technician (CFTe) and Master of Financial Technical Analysis (MFTA) for career-oriented individuals. The Chartered Market Technician (CMT) Association offers a comprehensive accreditation for professionals that want to sharpen their technical analysis skills.
About the author:
Hemant G is a contributing writer at Sparkwebs LLC, a Digital and Content Marketing Agency. When he’s not writing, he loves to travel, scuba dive, and watch documentaries.