Education is the key to successful day trading, and there are many online education options available. Whether you want specific forex, futures or cryptocurrency training for advanced traders or a free ebook for beginners, we explain how to find the best educational course for you and your needs. your request.
Day trading is a vast topic that can seem overwhelming to potential traders. The truth is that trading is complicated; There are no shortcuts or get-rich-quick schemes – and don’t believe anyone who tells you otherwise.
Trading experience
However, that doesn’t mean you can’t make money from day trading. It just means that in order to profit from trading, you should also profit from the experience and expertise of others. Investing in the best day trading education can equip you with the necessary knowledge, valuable support network and can set you on the path to trading success.
Here, we will provide some suggestions that will help you choose the right online trading education for you. No service can replace you learning ‘on the job’ – trade and build experience on your own – but they can work alongside your own trading to help inspire and improve skills your.
Specific course
If you are not already trading and are looking for the best day trading education, then think about the type of trade you want to make. Are you interested in trading options or futures? Do you want to share simple or complex indicator? There are many options available:
Stocks / Securities Trading
The most famous form of trading. This involves buying and selling shares of different companies through a stock exchange. Our stocks page can help explain which stocks are best for day trading – ultimately, your volume and volatility.
Most stock trading education materials will revolve around ‘buy and hold’, a longer-term strategy – based on fundamentals and company values. Day trading stocks are more dependent on price action. Therefore, learning about technical analysis is more important than that of company analysis.
Forex trading
Forex is an extremely popular form of trading, with billions of transactions daily. Short for ‘foreign exchange’, forex trading is speculating on whether one currency will become more or less valuable than another. We have a separate article on forex education training here .
Commodity Exchange
Commodity trading is where you trade things like precious metals or raw materials that make up other commodities. Commodities are divided into two groups: Hard goods are things that are mined (gold, oil, etc.) Soft goods tend to be agricultural things or grown things (wheat, sugar, etc.)
Electronic money
Cryptocurrencies require a higher level of education than most currently, purely because the product is so immature. You will hear about Bitcoin , which is the most famous example of cryptocurrency. Bitcoin and others like Litecoin and Ripple are digital currencies that operate independently of banks. Trading cryptocurrency involves the use of digital wallets, blockchains, and complex cryptographic methods.
However, it is possible to speculate on the price movements of cryptocurrencies without owning them. This simplifies the process and makes it more accessible.
Futures trading
Futures involve predicting whether the price of a commodity or stock will rise or fall over a certain period of time.
Trading options
Options are one of the more complex forms of day trading and will certainly require some form of trading education: It basically involves buying an ‘option’ to buy or sell a stock in the future. or after a period of time depending on whether you think the stock price will go down or up.
Binary options trading
A binary option is a simplified form of options trading in which you predict whether the price of a stock or commodity will rise or fall within a set period of time. ‘Stock’ investments are fixed, so potential losses are limited. Since the payout is also known in advance, these are often referred to as ‘fixed risk’ trades. A trader will know exactly how much they will win or lose, regardless of the size of the price movement on the underlying asset.
Binaries are high-risk professions, and education options are limited. They are currently banned in Europe due to the rise of fraudulent operators. Paying for education is equally high-risk, and free websites or forums are a superior option, alongside demo accounts.
Trading Indicators
Trading indices involve trading on a group of stocks related to a particular sector. For example, the FTSE 100 is a collection of the top 100 companies listed on the London Stock Exchange. The S&P 500 and Nasdaq are similar groups of stocks traded in the US.
It is possible to trade these index prices and learn how to trade them around price action and economic analysis for the market as a whole.
Social trading / copying
Social or copy trading involves setting up a trading account and linking it to the account of another more experienced trader. No matter what trades they make, your account means your profits and losses are ‘copied’ against the money you have invested.
Swing trading
Swing is not a form of day trading, but you will find multi-day trading educational websites that offer courses in it. Swing trading is a form of share trading where you hold your shares for anything from 2 days to 2 weeks to profit from any ‘swing’ in their price.
Free Education vs Paid Education
Compare costs
If you are researching trading education, one of the main things you will consider is cost. The first thing to point out is that there is no such thing as a free lunch; Almost every platform or course that promises free trading education or tips will, at times, want you to pay for more in-depth services.
The goal is to find a reputable, high-quality course that offers value for money. What constitutes value for money depends on your own ambitions and circumstances. Here are a few things to consider:
- Know What You Want : There are many trading education opportunities out there. Before you enter your card details on the first website that offers to help you achieve financial freedom, make sure you know what you are after. Do you want to trade futures or forex? Do you want to invest a little or can you afford more? Do you learn best by reading or watching? Do you want someone to teach you the basics or are you happy to invest in some indicators and get cracked? Knowing these things will save you a lot of wasted costs that could be better invested in successful trading.
- Do your homework : Some sites pay upfront about how much they charge for a course or educational package, others require more investigation. If a course offers ‘free’ education, maybe after many lessons you will have to start paying. These costs are not always advertised or made clear, so be sure to read the small print or ask ahead of time what, if any, costs may be claimed down the line.
- Budget : Course and metric prices can vary widely from $20 to $9000. There are also subscriptions that can range from $10 per month to almost $200. Top spending money is a cam. Great deals, so if you feel a premium course is for you, make sure you can afford it and you’ll get your money’s worth from it.
Find your level
Online trading courses usually have different levels, usually Beginner, Intermediate, Pro or similar. As you’d expect prices are on a sliding scale, with beginner courses being the cheapest and advanced being more expensive.
When browsing for the best trading education, evaluate your actual trading level. If you don’t know your FTSE from your elbows, signing up for a premium gold membership trading room won’t instantly make you a premium trader.
On the other hand, if you have invested a bit in stocks and want to take your trading to the next level or maybe get into a different type of trading, then an intermediate course is for you.
Advanced trading education should only be considered by those who have been trading full time for a while and feel that they would like some advisors to work with their trading and keep their strategies in the loop. new.
Whatever your level, remember that education works best as an auxiliary tool to your trading. All the tips and books and demo accounts money can buy are no substitute for real money, real time, real money trading.
Pay for quality
Day trading education varies greatly in the quality and type of resources offered. Also, be wary of trading school founders who say they started offering courses because they were tired of spending money on systems and indicators that didn’t work, an expensive course doesn’t necessarily equal A reliable course.
The type of service or resource you may find offered as part of a trading education package may include:
- Indices : Programs that use various calculations to analyze and indicate the direction of stock prices
- Demo Accounts : These accounts allow you to practice trading using simulated platforms and simulated money Webinars / Tutorials / Classes live: Online lessons or tutorials with experienced traders
- Mentoring : Live support from a trading expert
- Documents downloadable : These can be things like PDF booklets or interactive quizzes that explain the transaction in more depth
- Weekly/daily emails : These can give you certain insights about traders or advice on the markets of the day
- E-books : E-books sometimes freely available to generate interest in a more detailed, paid course
The main indication of the quality of any course or package is how trustworthy the trader behind it is. Only consider investing your money if:
The trader behind the education has at least ten years of experience and clear success. You can only become an expert trader through direct experience; Anyone without a substantial amount of that money is not worth your money.
The course teaches you how to trade on your own. Any genuine trading teacher or advisor will empower their students to trade for themselves. Any course or platform that requires ongoing payments to keep you on their site is less likely to land you in the right space to become a successful independent trader.
Educational site review
Now that we know what we’re looking for and what it’s capable of offering, let’s take a look at a few of the best trading education websites out there and give an overview of what they have to offer:
Day Trading Academy
Day Trading Academy is the brainchild of Marcello Arrambide, a trader with over 17 years of experience. Losing a lot of money on bad software and indicators, he built his own hands-on experience and then created the Day Trading Academy as an online organic approach to trading education .
His theory is that people who learn through the Day Trading Academy then teach others what they have learned. It’s not a company; it was a trading community of Vikings .
So far so inspiring, but what does this mean in practice? Day Trading Academy focuses on futures trading; especially it uses the E-Mini S&P, an American futures index derived from the S&P 500. By teaching you to use a system called the Congressional Trading Strategy, the Trading Academy day trading uses a number of indicators but focuses on teaching you to trade on your own.
Day Trading Academy is open to traders of all experience levels (divided into Beginner, Intermediate, Advanced and Professional). They offer a free 41-page PDF booklet and free web class if you sign up for their newsletter.
If you want the full four part course, it currently costs $ 2997. For this you get videos, exercises and the opportunity to receive feedback and advice on your growing knowledge.
Trading warrior
Warrior Trading offers trading tutorials in a number of different areas, including Options, Swing, and Cryptocurrencies. Like the Day Trading Academy, Warrior also prides itself on being a trading community.
The difference is that while Day Trade Academy focuses on the founder’s personal journey, Warrior focuses on testimonials from successful Warrior students. This makes up for the fact that only one in five Warrior advisors has a significant number of years of trading experience.
In practical terms, one of Warrior Trading’s main selling points is its members-only, live chat room, which includes comments, Q&A, and watchlists from other traders. The impetus of their trading philosophy is to teach their trading system in a 15-chapter course.
In terms of trading education, Warrior offers three packages: Starter, Pro, and App-only Inside Circle. Among the contents of these courses are chat room access and trading simulators. Intensive courses and group counseling start with the Pro plan. Exclusive access to key traders and live advisors is only available with the Inner Circle plan.
The Warrior Starter plan is $997 for a month. Pro Bundle plans range from $4299 to $5299 for periods ranging from 90 days to 1 year. Both plans then enroll you in Warrior for $197 per month. The Inside Circle plan is $9997 per year.
Quantum Transaction
Quantum trading is the brainchild of Anna Coulling, an experienced trader who has written many bestselling trading education books. Quantum trading education covers a large number of trading types including stocks, forex, cryptocurrencies and binary options.
The approach to quantum education is to sell indicators and platforms. Unlike Day Trading Academy and Warrior, there are no courses or strategies offered here, but there are tutorials and free video articles on how to use the products provided.
Indices packages available from Quantum – mainly forex-based but covering several other sectors – range in price from $20 to $900.
IG . Academy
IG Academy is an award-winning trading education website that claims more than 40 years of experience in the trading field. With a focus on trading through leverage, staking and CFDs, IG helps you trade in a number of styles such as indices, forex, stocks and commodities.
IG Academy offers several free courses including video tutorials, interactive exercises, and quizzes.
They also offer live trading webinars and free demo accounts for those who sign up to their site. They also have a free chat room (although you must be a member to post) with over 30,000 members.
In the long run, what IG Academy encourages is that you sign up for their trading platform, which continues to provide you with support and education as you trade for yourself. Unlike the companies discussed so far, IG makes money by charging a commission on your transactions. If your trading volume falls below a set amount, they also charge a subscription fee of $30 per month.
Invest
Investopedia is a US based company, founded in 1999 with the aim of empowering people with accurate and unbiased financial education . They offer a wide range of finance courses at their Investopedia Academy, covering everything from day trading to personal finance.
Trading Types Investopedia offers courses including options, forex, cryptocurrencies, penny stocks, binary options and more.
All Investopedia courses cost $199, with different plans available at various price points. Payment is one time, there is no registration and once you have purchased the course, it is yours to keep. Course content tends to involve videos, assignments, and downloadable materials. The site also provides access to previously free webinars.
Investopedia is different from a lot of other educational sites we’re reviewing here because it’s a more academic approach: You buy the course, learn from it, and use it to continue your trading. only you; you must not sell a platform or an indicator set.
Online Trading Academy
Not to be confused with the Day Trading Academy, the Online Trading Academy USP is a patented core strategy that can be applied to stocks, forex, futures and options trading .
They have over 130 tutors, many of whom have extensive real world trading experience. To participate in any of the OTA’s paid courses, potential traders must first join the free half-day class.
The Core Strategy course has two levels: Core Strategy and XLT Core Strategy (XLT stands for Extended Learning Track). The Core Strategy class is a two-part course that costs $7000 and takes 7 days to complete in classes of no more than 22 students. As well as teaching the core strategy of the OTA, it provides access to a real-time trading platform and includes a test at the end.
The XLT course is $8500 for three months followed by a $625 per month subscription, or you can pay $12500 for three months and get lifetime access. The XLT course is a mentoring situation for your actual trading. You can trade live while being able to use OTA’s trading tools and talk to their investors.
Whisperer
As the name suggests, The Stock Whisperer is a trading education website with a focus on stocks, although there are a number of swing and option education packages available.
Stock Whisperer is Stefanie Kammerman, a famous name in the trading world who has been trading since 1994. Kammerman is known as the Stock Whisperer because of her clear sixth sense when it comes to market movements. stock market.
The Stock Whisperer website is a treasure trove of stock education resources. Her subscription-only trading room, The Java Pit, allows traders to see her screen during pre and live trading.
The focus of many course packages is on training you to trade for yourself. One-on-one stock training with Stefanie himself can be purchased for between $299 and $1249.
Stock Whisperer also offers ‘Boot Camp’ packs of varying lengths. These are intensive, online courses that educate you about trading and allow you to participate in simulated trading.
Boot Camps costs up to $3499. There are also downloadable webinars available that look at different aspects of trading. This is probably better for traders who already have some trading experience and retail between $99 and $999.
Commerce Academy
TRADEPRO Academy was founded in 2012 by George Papazov, a Canadian who, despite his youthful appearance, has almost 20 years of trading experience. TRADEPRO offers to ‘certify’ potential traders in stocks, options and forex trading (it’s worth noting here that you don’t need to be certified just to trade stocks from a brokerage account) .
There are three levels of trading courses at TRADEPRO: Swing, Pro and Elite. They all involve similar courses on Trading Facility, Options and Forex and access to Webinars and daily tips. The Pro and Elite plans offer further courses, more support, advice and access to more trading software.
One attractive aspect of TRADEPRO courses is that they are entirely monthly subscriptions – as opposed to upfront payments and subscriptions. The Swing plan is $99, the Pro $129, and the Elite $169.
Injury
“ TradeNet is the world’s best day trading academy ” announces their website. Tradenet focuses on teaching forex, commodities and EU stock trading. The brains behind the company belong to Meir Barak, a professional trader and market expert who founded the website in 2004.
There are many day trading courses and resources available from Tradenet: There are self-study courses, taught courses, weekly mentoring sessions and educational packages, they range from a few hundred dollars to about 5000 dollars. You can download the resources yourself or get 1-on-1 sessions with a professional Tradenet educator. All these resources are built on Meir Barak’s personal trading strategy.
Tradenet sells four different trading education programs: Introductory, Student, Expert, and Expert. They range in price from $500 to $9000 and include access to some of the sessions and resources mentioned above as well as a demo trading account.
Online educational trading videos
One thing we haven’t discussed in this section is the role of YouTube trading educational videos. The first thing to say about these is that, while there is a place for them, it is a potential minefield. If you are looking for free trading education on YouTube, you should apply the same study standards to any trading education course.
Before you rely on video for its impressive graphics or snappy titles; remember to consider whether the presenter has significant experience as a trader. Are they really teaching you something for free or just enticing you to buy something you don’t need?
Can a profession as complex as day trading be distilled into a five or ten minute YouTube tutorial?
As a guide to the absolute basics of day trading for beginners, YouTube is hard to beat. However, it’s also worth questioning how many traders worth their salt will give away worthwhile trading education absolutely free.