Discussion in 'Educational Resources' started by michael21, Dec 28, 2011.
How much is fair for a good course? Good education not some stupid system.
What are you looking for? "Good education" is not specific enough. Are you looking for a turn-key trading system? An understanding of how options work? Ways to analyze volume? Methods of hedging your portfolio?
Provide some specifics and you'll get better answers.
A general answer that I can give you from my experience is that everything you need is available for free. All you have to add is about 5,000-10,000 hours of your time and you'll know what you need to know.
Good point Tom. I totally agree it's just that a lot of the information is spread out everywhere. I'm wondering about a course that will teach basics. Like what should I trade, what brokers to use, all the indicators, etc...
To be very honest, most courses out there can be a decent course. However, most of what is taught at these courses, you can find in the very many trading books available. Trading books in themselves can cause an issue as there are thousands; most of them filled with a lot of fluff, with a handful that can be real hidden gems.
It is not the courses that will make you a successful trader, but the mistakes that you make. To learn from these mistakes, you need to start applying your strategies. This application in course will show you very quickly what works and what doesn't. It will also pen out what to consider high probability trades and what not to.
NoDoji is someone you should get in touch with. I know she has gone through a lot of material and is always very helpful. She may be better able to advice you on where to start and what action to take.
Fair point but before I trade I want a solid foundation of basic knowledge so instead of as you alluded to searching thousands of which would cost thousands of hours and dollars, i've seen some courses that are decent so i'm asking what is fair? $500? $1500? is $3000 too much if it will give me a solid foundation?
If there are specific courses that you're interested in, list them here. Anyone who has experience with those courses could tell you what they think about them.
I'll give you some general advice that may be helpful. I've been trading for 20 years; starting as a stock swing trader, then trading stock options and now trading futures for the last ten years. Trading all of these things are pretty much the same for me as I apply the same basic principles formulated into a trading methodology:
1. Identifying Trends
2. Identifying support and resistence
3. Reading volume (the most subtle and challenging)
For me, these three elements describe "market context" and that's really what I'm trading -- the context. I'm not using context to "predict" anything. I'm using context to "understand" what's going on in the market and develop a point of view that allows me to trade in a way that I'm more likely to be a winner than a loser. When I let go of the idea of trying predict prices and focused on getting a deep understanding of context, my trading improved dramatically.
From my understanding of context, I create entry and exit strategies. To that I add money management.
What I've described above is a generalized version of what I learned. Then I applied it, first through testing (back then we called it "paper trading"), then with minimal real dollar risk. It's a long and challenging journey. I learned what I know through a process of repeated, and often painful, failures that eventually (two years later) lead to profitable trading strategies.
$500-$3000 is way too much;
especially since some library cards are free.Used or new books are a bit higher, but well worth it if one likes to read, or study candlecharts.
Only if you prefer to learn in a group settting; some seminars could be worth it. NodoJ is a day trader, so that may or may not help you @ all.
Hope this helps, knowledge of trends, trend study can help a lot;
but the [wisdom] part,which is [doing ]what you know is the hard part.
Buy a suit for 3K and date NoDoji.
Don't pay anything, cause it ain't for sale.
It's free if you are willing to work for a few years.
it takes some more than a few years,
because even when you get it[education] in a few years,
the bull or bear market change, changes everything.LOL
Also my library card is free;
but some areas charge for it.A good or great book can be worth some US $
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