Training in trading is surely one of the most neglected aspects by novice traders and one that inevitably involves them making mistakes that can have serious consequences for their trading capital.
So if you want to start trading in the best possible way, then here are the best methods of trading education to maximise your chances of becoming profitable and stand out from the crowd of losing retail investors.
What are the methods to train in trading ?
- Here are the most interesting methods to train in trading:
- Discords dedicated to trading
- Devices offered by brokers
- Forums specialising in trading
- Paid training courses
- Books dedicated to trading
YouTube channels dedicated to trading are probably one of the most interesting ways to learn about financial markets for free. You can find everything on YouTube when it comes to trading, from completely wacky content, to high quality educational content.
One of the most interesting ways to distinguish between good and bad content is to look at the number of subscribers associated with the channel and the number of thumbs up that the videos generate.
There are now hundreds, if not thousands, of YouTube channels in all languages dedicated to trading, which not only provide information on trading and financial markets, but also teach fundamental concepts such as money management, technical analysis, fundamental analysis and the psychology of trading.
So don’t hesitate to take a little tour on YouTube and watch different channels dedicated to trading, some of them are even specialised in markets such as stocks, indices or even crypto-currencies, and allow you to learn the fundamentals in an efficient way.
Even beyond the content for beginners, there are many YouTube channels that are run by professional traders, which offer interesting analysis of stocks, indices, crypto currencies every day, which allows you to be able to improve your daily trading practice.
Discords groups are a great way for beginners to join trading communities and be able to interact with people who can help you and provide answers to your questions instantly. With thousands of members in some cases, this type of group is a great way to learn, but also to meet and make friends with other traders to help each other progress, and why not in the real world.
The best way to find trading Discord groups is to start by joining those linked to YouTube channels specialising in trading, in order to find serious groups with an active and moderate community. Unfortunately, there are some Discord and Telegram groups that are fraudulent and try to scam beginners. There are groups that specialise in certain markets and others that are more general about trading
An approach that was still marginal a few years ago, brokers have become aware of the importance of training their clients, most of whom are complete beginners, in the fundamentals of trading.
This is now a comparative advantage that is exploited in the competition between stockbrokers, and the least we can say is that some brokers do not skimp on the means to enhance the devices put in place to help beginner traders progress and make money.
According to our comparative analysis, the broker that currently offers the most important feature to help traders learn the fundamentals is eToro.
Indeed, the broker offers technical articles, videos (through its YouTube channel which is accessible directly from its website), an academy entirely dedicated to learning about trading (the Trading Academy).
Webinars are also regularly offered, as well as live sessions with expert analysts with whom it is possible to ask questions and get answers. The resources that are offered are categorised by level, although the bulk of the training is for beginners.
Also, a very good way to get started in the world of stock market investing is to use a demo account. This allows you to familiarise yourself with the fundamentals of investing (buying securities, selling securities, placing protective stocks…), but also to understand the different markets offered by the broker and to test strategies in order to position yourself in a real account on one of them.
Also known as social trading, copy trading is a tool offered by some online brokers that automatically copies the positions taken by the most successful traders on the platform.
It is available for most markets and can be interesting in that it allows you to consult the analysis of the trader you are copying but also to select him beforehand according to his appetite for risk and his performance over several months or even several years.
This can be interesting for beginners as the risk is limited and is based directly on the investment decisions of the trader being copied. However, this approach is not risk-free, as there is no guarantee of the trader’s performance in the future. It should therefore be understood as a temporary approach to get started in good conditions, but not as a fully-fledged investment approach that is long-term.
Although the arrival of Discord groups is beginning to affect the number of forum users, there are still many specialised forums where you can interact with individual and professional traders to exchange information and learn under the right conditions.
When choosing a trading forum, it is the length of time it has been in existence and the number of members that should be taken into account, assuming that the more members a forum has, the more likely it is to produce quality content and be properly moderated. As with the Discord groups, it is possible to meet traders physically in order to further encourage exchange and sharing.
We don’t really recommend paid trainings, insofar as with Youtube, there is everything you need to learn everything you need to start well in the financial markets.
However, in order to specialize on very specific aspects, it may be interesting to opt for paid training, in order to improve. This type of approach should be reserved for traders who already have a certain level of experience and who wish to specialise in specific aspects.
But paid training is not necessary for beginner traders with all the free training available on the Internet and available with a few clicks.
Training in trading: a continuous learning process
As you can see, social networks play an important part in learning to trade, with YouTube and Discord, knowing that we could have even added Tweeter which also allows you to get interesting information and interact more and more with traders.
Take your time to choose your YouTube channels, discussion groups, and don’t hesitate to ask questions, it’s the best way to learn. Isolation is counterproductive in learning to trade. Social networking can sometimes lead to friendships and save many months of learning, which is obviously not insignificant.