Training CourseIs It Better To Be Self-Taught Or Do Some Training Courses?

  • If you are wondering whether it would be best to deal with trading on financial markets as a self-taught or by doing professional training courses, the answer is that both routes are feasible, but training courses are definitely the best choice!

    Both at the beginning and in the advanced stage of our career, it’s always good to do training courses as they will allow you to save time, and above all avoid wasting energy unnecessarily.

    If we can afford paying paid courses, provided by high-level trainers, this is generally the easiest and fastest way to achieve a good level of knowledge.
    If we do not have the opportunity to invest on our training, the only possibility is to find some free training that we often find on brokers’ websites themselves, on industry websites, or on Youtube.
    In general, we can advise you to opt for a free training only in the very first phase of your trader's path, and pay for courses later on.


    • The skills to learn

    Online trading is one of those disciplines that require a lot of training: it’s a multidisciplinary activity consisting of technical, psychological and macroeconomic analysis skills. In addition, if we want to work with automated trading systems, it's essential to have a minimum knowledge in technology.

    We can divide the skills to acquire with the following percentages:
    - 40% trading as knowledge of technical and quantitative analysis
    - 40%psychological aspect
    - 20% trading on a fundamental basis, macroeconomics

    From this we can see that the new trader should not focus exclusively on the technical aspect, as they do in most cases, but should also do emotional management courses, or macroeconomic courses to better understand the economic news that makes the market.


    • Types of training

    Online trading, whether paid or free, can be divided into three main types
    - Individual courses

    - Online courses/Webinars

    - Video format


    Individual training courses can be provided either by experienced traders who work as paid independent trainers or by brokers who offer it free of charge to customers who open a premium or VIP account. Obviously the main difference between this type of training and the other two that we will see later, is the higher quality and depth of the topics discussed, as well as in the ability to customize the lesson according to your needs.

    Online and webinar courses are "basic courses" provided by brokers as customer support activities or training to get acquainted with the training market, in order to sell advanced courses later on. They are not individual courses, but are usually provided with a group video chat. In this way it’s obviously a bit more difficult to become confident with the matter and clarify our doubts.

    Educational videosare made and provided by brokers or informative websites and can be found both on Youtube and on their website. They analyze basic topics and do not contain any particular insights, and therefore represent just a first step for newcomers to get into this world. The quality of these videos is varied...there are high quality professional videos as well as low quality amateur videos ... how do you recognize and choose the best? And how can you create a path for correct use and organization of all topics? This is often almost impossible, resulting in a waste of time and energy.

    One of the solutions we can recommend is the website, a collection of roughly 200 videos, with all the necessary topics, divided by category and with a guided tour that shows how to use all categories step-by-step.


    • Conclusion

    It is essential to look for and follow the best training possible in order to accelerate our learning process both at an early stage of our activity and at an advanced stage: reach our goal as soon as possible...and make it become profitable.

    An extremely helpful advice is to follow forums or communities and compare the training received with that by other traders.

    Trading is an ever-evolving discipline, and even more so than in the past as new technologies come up and often offers unexplored scenarios: the right choice for our training needs has to be attentive to this trend.

    It is also important to know that not all of our needs will be provided by trainers: financial trading is a task that requires a lot of research rather than study. Research is a complex activity that consists of intuition and empirical testing. Along our way, this research activity will become our true job, even more than the active trading.

Leave a Reply