There are short 3-day courses which charge thousands of dollars for teaching you how to manage money. At these prices, they are even more expensive than the most expensive college in the U.S on a daily rate. Will learning trading through free books borrowed from libraries and free websites and forums such as this one be just as effective? I am highly doubtful how much a person can learn within 3 days. How can one absorb so much knowledge within 3 days? Wouldn't taking time to absorb the knowledge through books and forums be more effective? Do elitetraders agree that books and internet are more effective than expensive courses? It is definitely more cost-effective.
Iv seen some really messed up courses, i won't mention the names, but one guy was increasing his shorts position, 1 min chart, whenever the grean candle forms + 1000 shares short, at some point he was down -$4000 , eventualy he made 1000 bucks, and that was a ,,good day" for him and to qoute him : ,,This is how you do it guys !". His RRR was 4/1. Most of the time his equal or down, but newbies buy his courses, so hes ,,profitable". Another ,, Best Trader In The World" , is advertising CFD's via brokarage firm, where he owns 50% of that firm, meanwhile it's registeted in Cyprus. No conflict of interest ,,at all". Iv read over 10 books on trading ( 8 of them had no value ) , watched >1000 videos on trading/investing, had 2000 hrs of screen time and made >5000 trades with 10 different demos, during the luch brakes at work i check 100~ stocks, and only then pick up 1/3 with the best edge imo,. 10 months like this so far, and still developing my own system and approach, reinventing perspective every 2 months. All of it costs nothing but my time. And only now i could see ( although im looking for none ), which courses seems to be ,,legit". As for channels you can start on youtube with : UKSpeadBetting Trading212 DuomoFinancialEducation P.S Wish there was a data for how many people ,,made it" without the courses, compered to those who took them. In some sense, course fans reminds me of ,,new year resolution guys", in gym on January. ,,3 days courses" vs ,,5 mins abs/a day" They want it fast and the only fast thing is 90/90/90. ( no envy/discrespect intended )
answer: NONE of the above. But then, if you don't learn from books and internet and expensive courses, you will have difficulty starting up. We have to develop our own holy grail. If you have close relative or very good friend who can teach you, that will be great.
Trading is a very personal thing. You and only you know what type of trading suits you, however it may take you some time to determine that. Like art, we have our own unique tastes. Paying megabucks for a trading course is a waste of money if what they teach will not apply to the direction you wish to take, for example the course may major on scalping intraday when you prefer an investing style. Determine first what and time frame, then focus on the detail. Create a workbook and begin to list which subjects interest you. Add questions to the workbook, then over time answer them yourself via research. Therefore; "learning trading through free books borrowed from libraries and free websites and forums such as this one will be just as effective." What I used to do in my early learning years was go to free trading spruiking seminars that were held in hotel conference rooms where they were attempting to flog off courses. I kept my wallet at home and went for the free spruiking along with free coffee and cake, always picked up some free knowledge that way plus it was entertainment. From libraries you can often order books which are trading classics.
Little piece of info from one place, then some insights from there or there, then some grinding, reflecting back on mistakes & repeating. + some entertainment. Beautiful way of learning. Small pieces of brush strokes until you got the portrait, of your own self, as a traider. All about the process, fulfilling life. Any of those momments brings smile to you in particular, with those free cakes, must something funny happened at least once, given the fact wallet was at home?
Bingo! Usually, mostly the seminars were in the city so made a day or night of it. (Sometimes weekends, sometimes weekday evenings) They would go for an hour or so, finalizing in a hard sell. Sometimes a doorman who didn't want you to leave early, LOL. I had every intention of never shelling out one brass razoo. Hahaha.
A 3 day course that charge thousands of dollars for teaching you how to manage money...the course more expensive (your words) than the most expensive college in the U.S. https://www.foxbusiness.com/personal-finance/americas-most-expensive-colleges Surely you can't be serious...what's the cost of that 3 day course ? Now throw in the cost of living near those universities...you're either rich (from a wealthy family), super smart (academic scholarship) or you'll be heavily in debt in which you will still be living with mom & pop another 10 years after graduation to dig into your student loans. There's free seminars in most major cities about how to manage money. Most financial TV networks (e.g. Bloomberg, CNBC) have guest speakers promoting their books about "money management" and depending upon which university or city library...many of them you can get the book for free or get your local library to request the book from another library. Heck, I remember some years back while visiting a close military friend at the VA hospital...there was a guest speaker (some guy from a nearby university) giving a free seminar on "money management". My point, money management seminars is every where...not stuck only in books or forums. As for this forum, I don't ever believe I've seen anyone teach a "money management" course here...there's no seminars, no webinars, no podcasts...just some traders that say that "money management" is extremely important. This forum use to have a "book" section that members recommended specific books but that section was removed and I don't remember any books being recommended on "money management". Just get money management books from your library...its free. wrbtrader
lol, i didn't pay attention to that at first place, it's not even about the trading itself, but how to ,,manage" money. Irational red flag at it's best.