ecoexplorer
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Does anyone has any inputs about the online trading academy....Im planning to sign up ...its an investment of $5K so I will like to know before hand....please ...THANKS!!!!
online trading academy
- Thread starter ecoexplorer
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I don't know how good they are but please, please, don't part with that much money for learning what is obtainable here and in many good books.
I know that this is not the answer to your question but 5k, with low stakes, represents an awful lot of learning capacity.
Take care and Good Trading.
Split
ecoexplorer
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Its just that they say is so expensive because you get everything so organized...where as with the net its all scattered and takes time to organize...please advice....
Before spending that much money, though, at least have a look around.
Here's a link on this site for reading advice. You should get to know the posters there, too. Ask questions, there's a lot of help available.
http://www.trade2win.com/boards/trading-faq/30637-books-should-beginner-read.html
Here's a link on this site for reading advice. You should get to know the posters there, too. Ask questions, there's a lot of help available.
http://www.trade2win.com/boards/trading-faq/30637-books-should-beginner-read.html
trader_dante
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I'll do you a favour and save you 5k.
Here is how to setup as a full time, professional, (and profitable) trader from home in a few easy steps.
1. First get yourself a decent computer. A good setup is important don't scrimp. Get yourself 4 monitors. You can get two graphics cards and run two monitors off each one or you can get two computers. You can search around on the net and find companies that will build them for you if you want the really pro setup but it will be a litle more. One screen will be for your broker platform. The second and third will be for your charting. Final one will be for a news service and you can also use this for the internet (research purposes naturally). As far as a paying service I can recommend Ransquawk who will squawk you all the news and figures including commentary and analysis, in real time. It has a monthly fee but is very good value.
2. Decide whether you want to trade direct market or spreadbet (or both). There is a huge list of advantages and disadvantages for both. I'll put it in a nutshell. If you have less than £1,000 to trade with you will need to spreadbet as margins are lower. There are a few exception to this (e.g. Oanda are direct market FX but you don't have to trade full lots). If money is not a major issue there is one other consideration: If you want to hold trades longer term (days or weeks) then spreadbet. In the UK it's tax free. If you want to day trade (holding for minutes) go direct market where you will get tighter spreads and better execution.
3. Open a demo account with your chosen broker.
4. Source information from the web. This can be found for free. Don't pay for tuition - you will simply be paying to be taught what someone else is good at. It doesn't mean you will be. It is important to develop your own edge. I've taught trading both for free and for money so I know what I am talking about. If you want to day trade, look at the principles of day trading and demo them. If you want to swing trade its the same process. You can read my thread "Making Money Trading" and also the J16 thread which will teach you price action and how to read it for profitable trading.
5. Wait until you have 3 months back to back consistent profitability.
6. Split the total amount of money you have to trade into 3. So if you have $3,000 then you will have $1,000 in each section.
7. Put $2,000 or two thirds of the total amount into a high interest paying building society account and fund your trading account with $1,000.
8. Continue trading your edge with the $1,000. Trade minimum size and trade cautiously. Record everything you do religiously. Written records will speed up the time it takes you to make it in this game immensely.
9. When you have 3 months consistent profitability with live money, fund your account with another $1,000 (the second third of your total funds) and continue trading. This should allow you to increase your size or help with instruments that require larger margin etc.
10. If you ever lose 50% of your account, STOP trading and go back to the drawing board. You will need 3 months on demo again.
11. Always keep the last $1,000 (final third of your funds) in an interest paying account for reserves. You never know when you will need it.
Here is how to setup as a full time, professional, (and profitable) trader from home in a few easy steps.
1. First get yourself a decent computer. A good setup is important don't scrimp. Get yourself 4 monitors. You can get two graphics cards and run two monitors off each one or you can get two computers. You can search around on the net and find companies that will build them for you if you want the really pro setup but it will be a litle more. One screen will be for your broker platform. The second and third will be for your charting. Final one will be for a news service and you can also use this for the internet (research purposes naturally). As far as a paying service I can recommend Ransquawk who will squawk you all the news and figures including commentary and analysis, in real time. It has a monthly fee but is very good value.
2. Decide whether you want to trade direct market or spreadbet (or both). There is a huge list of advantages and disadvantages for both. I'll put it in a nutshell. If you have less than £1,000 to trade with you will need to spreadbet as margins are lower. There are a few exception to this (e.g. Oanda are direct market FX but you don't have to trade full lots). If money is not a major issue there is one other consideration: If you want to hold trades longer term (days or weeks) then spreadbet. In the UK it's tax free. If you want to day trade (holding for minutes) go direct market where you will get tighter spreads and better execution.
3. Open a demo account with your chosen broker.
4. Source information from the web. This can be found for free. Don't pay for tuition - you will simply be paying to be taught what someone else is good at. It doesn't mean you will be. It is important to develop your own edge. I've taught trading both for free and for money so I know what I am talking about. If you want to day trade, look at the principles of day trading and demo them. If you want to swing trade its the same process. You can read my thread "Making Money Trading" and also the J16 thread which will teach you price action and how to read it for profitable trading.
5. Wait until you have 3 months back to back consistent profitability.
6. Split the total amount of money you have to trade into 3. So if you have $3,000 then you will have $1,000 in each section.
7. Put $2,000 or two thirds of the total amount into a high interest paying building society account and fund your trading account with $1,000.
8. Continue trading your edge with the $1,000. Trade minimum size and trade cautiously. Record everything you do religiously. Written records will speed up the time it takes you to make it in this game immensely.
9. When you have 3 months consistent profitability with live money, fund your account with another $1,000 (the second third of your total funds) and continue trading. This should allow you to increase your size or help with instruments that require larger margin etc.
10. If you ever lose 50% of your account, STOP trading and go back to the drawing board. You will need 3 months on demo again.
11. Always keep the last $1,000 (final third of your funds) in an interest paying account for reserves. You never know when you will need it.
Last edited:
Gumping
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I did a course a bit like this one - although not the same one. IMO I paid ALOT of money for something that boiled down to the content of about 3 books worth less than £50 in total.
Save your cash - everything I learnt in that course is available on here - you just need the patience and desire to go through it all. Those are both traits you need to be a successful trader as well, so do yourself a favour and get cracking!
Trading is different for each individual trader, and these guys are trying to sell you something off-the-shelf, one-size-fits-all etc. You'll naturally gravitate towards certain styles by reading threads here - you wouldn't get that in a seminar.
Save your cash - everything I learnt in that course is available on here - you just need the patience and desire to go through it all. Those are both traits you need to be a successful trader as well, so do yourself a favour and get cracking!
Trading is different for each individual trader, and these guys are trying to sell you something off-the-shelf, one-size-fits-all etc. You'll naturally gravitate towards certain styles by reading threads here - you wouldn't get that in a seminar.
eagletower
Member
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trade dante great post, I wish i had read that when i first started trading ( i did the age old habit of chasing my losses
)
a friend of mine attended the Traders University course and then subscribed to the service, have to say was quite disappointed with both results. Also as the "dummy" trade book for the subscription service was based on a spread bet book, it meant you would sometimes get fills ( if you were traded DMA) and they wouldn't and vice versa.
)a friend of mine attended the Traders University course and then subscribed to the service, have to say was quite disappointed with both results. Also as the "dummy" trade book for the subscription service was based on a spread bet book, it meant you would sometimes get fills ( if you were traded DMA) and they wouldn't and vice versa.
gamma
Experienced member
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Allow me to do that for you!
A MUST READ FOR ANYONE WHO DECIDES TO COME INTO THE TRADING WORLD.
