Training Courses

[mintoze]

Has anyone any recomendations for Day Trading training courses?

There seems to me plenty of "offerings" from downloadable e-books, through Audio & CD-Roms, one-day Workshops & Seminars.

"Rome was not built in a Day" and some pros have taken years for training through their sponsoring financial institutions; so where if anywhere are the quality courses covering the business?

 

[Helenqu]

I think it depends a bit on the type of trading you want to do as to what people would suggest. Are you talking US/ UK/ Intraday/ Swing?

For a general and basic TA course grounding check that will start you off with a good foundation check out the one of the front page here (TA in a Nutshell) - it's the only one I have done (apart form freebies). I must admit I prefer to spend my money on books

 

[bgregus]

Yes I agree Helen.

Have spent most money on books.

However, did look at the Champion Trader book with I thought was awful. Any opinions?

B

 

[Naz]

From the t/a and level 2 thread.
----------------------------------------------------------
"I Have seen the Light

I Know T2Win board is not for advertising on but as it does promote his course and I think he is worth seeing just a quick bit on Alan's course.

Last Friday I spent the day with Naz on his T/A course, and what an eye opener.

Naz knows his stuff and has opened my eyes to trading NASDAQ stocks.

He spent the first hour and a half talking to me about my style and trading psychology and my mind set.

We then went through risk management and finding potential stocks to trade on the NASDAQ.

Naz then showed me little bit of Level 2 and the basics of how it works.

The one thing that sticks out more than anything else is keep it simple.

I have read loads of trading books and tried to take in everything they all say but I think I just suffered from information overload. Seeing Naz has straighten a lot of things out and and he has shown that there is light at the end of the tunnel.

I think the fee for the course is fair given what I have learned and once I have practiced and put into place what I learned from Naz I will definitely be going back to learn Level2 with him.


Lawman: No need to worry, you will love it and Naz is a very relaxed guy.

Thanks Naz for a Great Day".

---------------------------------------------
and

http://www.trade2win.co.uk/boards/showthread.php?s=&threadid=3560

 

[bartlett4america]

Hi Mintoze,

I joined t2w today and think I'm in a similar position to you in that I'm trying to find a decent place to get some trading education.

I recently went on one of Tom Hougaard's free seminars with City Index and thoroughly enjoyed it. I'd often seen him on Bloomberg and it was nice to see someone so passionate about their subject

I spoke with him and was pleased to hear he will be doing some more detailed seminars (not for free though) for both beginners and more advanced traders in the near future.

If you're interested I'm on his mailing list and will let you know more when it comes through.

 

[maser]

I saw Tom about a year ago and he was excellent - a bit like Naz who is mentioned in other threads- he is a real trader who shares what he does with enthusiasm and without unecessary hype and polish.

Count me in when you find out more Bartlett - I could do with a boost.

 

[mmillar]

If you want to learn about trading spend a few days with Naz.

He is a professional, career trader who makes money and knows what he is doing. You do need to read books and go to seminars - but to get ahead you need to spend time with a real trader. Naz does one-to-one sessions so you learn specifics, not just generalities as in a seminar.

There is a lot of 'hard school of knocks' rubbish on this board but if you want to learn quickly and get ahead of the pack just spend some time with Naz.

Cheers

 

[Bigbusiness]

"There is a lot of 'hard school of knocks' rubbish on this board but if you want to learn quickly and get ahead of the pack just spend some time with Naz."

I wonder if Naz was instantly a good trader or if he lost money to start with and developed his trading style after the experience? From my experience, loosing some money is the best way to learn.

 

[TBS]

Just remember to make sure that the course fits what you want to do - or are physically capable of doing!

Nasdaq stocks and L2 trading may well be great, but it may not suit you either in terms of personality, time or fiscal constraints.

 

[Naz]

Yes i lost money first of all because i traded the UK market and traded like the books and seminars would have you do.Funny how when i watched the Market makers on the Nasdaq level 2 screen and watched them do the opposite to how the public were taught to trade my trading turned around!

I also turned around my trading when i realized that the US led everything and that that is where i needed to trade and be ahead of the game instead of behind it.

I also did better when i traded a market like the Nasdaq that moved,giving me better opportunities with a trading platform which gave me the instant fills,allowed me to capture spreads instead of paying them and showed me what was truly happening,rather than the chart which showed me after wards.

I still smile at others who dont understand level 2 Nasdaq trading yet caution against it.I smile again when i can take a raw beginner who cant trade and have him taking live intra day Nasdaq trades and making them profitable.

 

[mmillar]

Bigbusiness,

Are you also saying the best way to learn to build a bridge is to have a few of them fall down on you first?

What's going to make someone good as a trader (as it will in any profession) is having a good teacher, reading books, and then gaining experience. My 'comment' is about the people who don't think the 'good teacher' bit is necessary.

Cheers

mmillar

 

[Trader333]

From my experience it is very much the case that those who are successful traders have, in most cases, lost a lot of money before they became successful. But whether this was needed to be successful I would doubt. If you have a good coach I am certain that it is possible to be a profitable trader and not have to lose large amounts of money.

The key here is "Good Coach" as they are few and far between. You only need to scan the webpages to find everyone under the Sun offering systems, methods, software, personal advice etc to everyone. It is generally accepted that 90% to 95% of traders lose money so most of these must be of little value. I think we all know where to find the "Good Coaches" and it is important to recognize in yourself that benefit can be had by taking a course with them.

I have successfully traded futures for over 2 years but I was always unhappy at the speed in which a futures market can move and with no warning. I remember friends of mine trading around March 2001 when the Fed announced an unexpected interest rate cut. Within 10 seconds one futures market rose by over 350 points. One guy was short on this market with a stop set 10 points away and got filled over 200 points away from his stop for a loss of over $4500.

Since that day I have always been looking for another way of trading that would give me advance notice of what is happening such as Nasdaq Level II. More recently I have stopped trading and I am currently getting myself ready to start trading US shares. Personally I am not too proud to think that I know it all and I am more than willing to learn from those traders who are successful in trading these markets. As such if I think I would benefit from taking a course or engage in personal coaching I would do so without reservation.

Cheers


Paul

 

[oatman]

The point is that he could probably handle a loss of $4500. I was told of someone trading derivatives who made £28000. But he couldn't have taken the loss!

 

[Skimbleshanks]

When one starts out on this long and winding road to trading glory, one is often naive, gullible, and desperate for success. That means that you will invariably grasp at straws and believe when vendors of trading systems say they can offer you the Holy Grail. A few thousand pounds down the road (by paying for your black-box system, or via trading losses) you are more doubting, more enlightened, and hopefully more realistic.

I think that by keeping an open mind continually, and being prepared to listen and observe, you can often save yourself a lot of heart ache and losses. Sometimes you just 'feel' that something is right for you, whether it is listening to someone, being mentored, reading oddball trading articles, or just by being inquisitive when someone makes a seemingly odd statement.

An open mind is a good thing to have in trading.

 

[Trader333]

Hi Oatman,

This guy doesnt trade anymore as the impact of the loss shattered his confidence. But it was me that learned from his loss that I didnt wish to be in a position where this could happen to me as well. Hence my decision to move away from trading futures.

Cheers


Paul

 

[mintoze]

Since my original post there has been some digression so I can only presume there is no suitable professional courses to be recommended.
Day Trading has a bad press and experience both sides of the Atlantic due entirely to lack of formal education and mentoring.
Professional education takes between 3 to 5 years - 7 in the case of vets. Trading can be no different; there are no short cuts.
To date there are no official courses within any higher education establishments either here in the UK or indeed in the US designed to teach trading exclusively.
To those traders who can and have survived there must be a better way.
How about a group of like minded aspiring traders combining under an arrangement to appoint professional trainers and mentors on a rolling contract to educate and support the group and pass on our experience to others?
It is a win-win situation for all.

 

[del]

Hi mintoze,

Nice idea. I suspect most of the experienced traders have found their own balance between work and play i.e. trading and teaching, family, lifestlyles etc.

Del.

 

[Trader333]

Mintoze,

There are people who train others to become successful professional intra-day traders. It doesnt take 5 years either, if you have the aptitude for this it can be achieved relatively quickly.

Paul

 

[mintoze]

Paul

Possibly the people to whom you refer might be considered for prospective trainers and/or mentors to the Group under review?

mintoze

 

[bartlett4america]

I hope you don't mind me replying back on this old topic.

I got an email from Tom Hougaard yesterday about his seminars (which i mentioned earlier) - he's starting next month and will be teaching the techniques he uses so it should be good.

He has a website (if its not ok to post a link here I apologise) www.tradeforyourlife.com

I'm hoping to get to one of the Saturday dates, just got to make sure I'm allowed to go


Have a good day everyone!