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Are there any recommended trading courses?

Discussion in 'Trading/Investing Resources' started by LinSA, Jun 1, 2018.

  1. LinSA

    LinSA

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    I want to learn how to trade stocks (or whatever it is called, I am so new I am in Kindy!). As an absolute total beginner, I need a way to learn that isn't going to be too overwhelming. Sure I can go on youtube, google, books, but goodness knows what mis information may end up whirling in my head and eventually whirling down my bank account.

    I had hoped I could find an organisation to train me. But I can't see any of them recommended in here. I have been researching several, most have very dubious backgrounds and absolutely no good reviews from students who have been using their methods for a period of time, well not legitimate ones anyway. As I previously spent a lot on property training of that kind I am more careful now. However one that I found Terry Tran - Freedom Traders, seems to have good reviews with people earning good annual profits. Plus I contacted some of the students and found that they have continued to go well. This has given me hope.

    However I see in this forum that nobody really recommends any of these expensive courses. But if I don't go to one of them.... where do I learn in a safe way that doesn't chew up my learning while learning the hard way?
     
    maddvaliant likes this.
  2. tech/a

    tech/a No Ordinary Duck

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    This is a good question and one seen many times before worded in different ways.

    This is what took my eye

    Truth is you just never know who in the field of training in trading the stock market is reputable.
    The old ---if they were that good why would they not just trade.

    So in answer to your question---at least the quoted part above.

    (1) Any course is part of your training and the cost of it is simply part of the cost of doing business the business of trading. If you could buy a profitable trading business what would you pay?
    If it made $250,000 a year after tax then you'd expect around $750,000 to $1.2 million.
    So investing a few k in your training is not a biggie. You will have to invest both time and money.
    Lots of time! You'll just have to do your due diligence and choose what you want to learn and go and learn it.
    (2) Safety and your bank account.
    Simply trade a demo account using what you've learned. Trade with your own $s when you have learnt all you can on controlling RISK.

    Start with the search function here on topics you'd like to cover.
    Look at Pete 2 threads he actually shows you HOW to trade profitably for NOTHING.

    There is NO silver bullet.
    Just like all businesses.
    Some succeed and some (Most fail) in exactly the same business.

    Enjoy
    Its worth the time and effort.
     
    maddvaliant, Triathlete and Faramir like this.
  3. dutchie

    dutchie

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    Hi LinSA
    Welcome to ASF.
    There is a lot of useful information in here that can start you on your journey.
    My personal advise would be not to buy any course (admittedly I am biased as I have never done a course). But you do need to invest in a lot of time.
    It's a business/profession and it takes time to run/learn it. It is possible to educate yourself on the internet (including this forum), as you become more educated you are able to be more selective as to what you read and who to trust.
    You would do a lot worse if you read some of the threads and some of the posters (including tech/a) here.
    ASF is very welcoming and members are generous with their time - just ask a question.
    Good luck with your journey.
     
  4. tech/a

    tech/a No Ordinary Duck

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    So here is a serious question to all who come to this thread.

    What would you pay for

    Would you pay for a method which showed wether your idea was profitable (For example).
    Would you pay to have Can Oz show you how he trades Market profile.
    Would you pay for Peter 2 to show you how to trade.
    Would you pay for me to teach you VSA. (Volume spread analysis ) and Risk mitigation.
    Would you pay T/H to walk you through reading depth.

    What would you pay for?

    Next question.

    What would you pay in $$s.

    If any of the above or all of the above had a potential of pointing you in the direction
    (Subject to available capital) of making $1000 to $100,000 to Multiple times that consistently.

    Is this the ONLY field where participants either cant find or think that they can become expert enough to become proficient without paid education.

    Yet this area of expertise is where we put our hard earned---its more important than any other--financially. We wouldn't put our hard earned in the hands of a novice financial planner---we would want him to get some education----yet we are happy to take control of our own finances but not pay for education cant get more novice than that.!
     
  5. peter2

    peter2

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    @LinSA It's really hard to provide you with suitable information because your initial query is too vague.

    If you want to learn the mechanics of buying and selling stocks, the ASX provides courses/lectures regularly. They also have presentations demonstrating a variety of analytical techniques. Not for profit organisations like the Aust Investors Assoc (AIA) and Aust Technical Analysts Assoc (ATAA) have monthly presentations from a variety of people involved in the financial industry. I would encourage you attend a few presentations and consider joining one of them. You should also read as much as you can about trading/investing.

    While you're doing this research you should take note of the methods that appeal to you. If you have an accounting/economics background you may prefer to research companies and their financial reports in some detail. If you have a science or engineering background then you may prefer to base your analysis on the price charts. Or you may decide you like a bit of each.

    It can get quite overwhelming realising that there's thousands of analytical techniques available to you. I can't recommend any one source for you because I don't know what might suit you.

    Another aspect that you should consider carefully is your own circumstances. Why are you doing this? What have you got to start with?
    (Knowledge = nil, business plan = no, money = maybe, time to do this = how much can you spare)
    This is a serious business if you want to do it profitably.

    There's no rush. Take your time. The markets will be there when you're ready to start.
     
    maddvaliant, Redbeard and tmstu like this.
  6. LinSA

    LinSA

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    That is true tech/a... I could spend $5,000 in making mistakes, or I could pay $5,000 for somebody to teach me all the tricks, and save me tons of time, and it is an investment. Good way to look at it. And it isn't tens of thousands like we spent on property courses!!!!
     
  7. Mr Bear

    Mr Bear Businesses don’t change often, perception does..

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    Plenty of advice but no-one mentioned what they spent time or money..

    Some of this is embarrasing but hopefully a confessional will make me feel better..

    I spent the following: ( originally I had an obsession trading the SPI )

    Losses
    Trading Tigers $8,800, total scam, my biggest regret and still pisses me off today.

    Frank Dilernia - Not sure how much maybe $500 but not for me, I'm sure he's profitable but effectively a glorified moving average.

    Camron Systems - $3,000, conflicted on this as well, didn't make a single dollar out of this, possible it was profitable at some point, I did learn but it was irrelevant, I reckon I spent over 2,000 hours working on this and two years of effort which looking back with my current strategy could have been the most profitable time of my life. Biggest waste of my time not $$ but in aggregate the most expensive thing I wasted my time/money on.

    And my very first waste of money was straight out of school and spent $200 on some website that backdated charts to make it look like they were picking the tops and bottoms of trends, years later I read about the guy that ran it, it was a well known scam.

    Profits
    Masters of Applied Finance - $30,000, best investment I made, obviously very costly and not for everyone but I'm passionate about investing and wanted to make finance my life. I learnt things that allowed me to piece everything I learnt prior together, it was that moment of the fog rising and I could see clearly. Out of this is the basis of what I trade today which is back in stocks and not trading SPI contracts.

    Bloomberg licence - $30,000 a year, I admit this is extreme but I couldn't trade without it, I reckon I've spent over 10,000 hours researching different strategies on this system, they have almost every piece of information you could possibly think of and various ways to splice it, the data and information is worth every penny.

    Plenty of investment books, can't list them all but just read and keep reading, whether it be on this blog or elsewhere, just keep reading and researching is my advice. SSRN is a favourite of mine for academic research and highlights how slim some of the edges are.
     
  8. LinSA

    LinSA

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    peter2 yes it is a minefield, so confusing, that is why I thought it might be clever to pay somebody to teach me a method that seems to work for many. I do have time at home, and am very excited and serious about treating this like a job to work at every day. I had wanted to do property, but circumstances prevent that for a few years, but this I could do right now once I learn how, even if to just get a little ahead in the beginning and when I get really good make a proper living from it I hope. I just didn't want to get caught up with any more sharks, I have enough bite marks already :)
     
  9. luutzu

    luutzu

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    No relation to Terry Tran? :D

    Would that someone teaching us all the tricks for a measly $5K be a Mr Tran?
     
  10. LinSA

    LinSA

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    Huh, I don't understand your question luutzu?
     
  11. LinSA

    LinSA

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    ooooh now I understand. Yes Terry Tran. How did you guess that? There would be a few different ones out there I'd imagine who would all charge a similar amount? Have you worked with him?
     
  12. tech/a

    tech/a No Ordinary Duck

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    You spent $10s of 000s on property courses.

    What did you learn?
     
  13. LinSA

    LinSA

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    Nothing I can use. I did the wrong courses, they sounded good at the time. But now I realise they didn't disclose all of the details and the only way to make it work would not suit us anyway. Don't want to do that again so am extra cautious.
     
  14. luutzu

    luutzu

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    No. But I might just met someone who does :D
     
  15. LinSA

    LinSA

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    oh ok, that would be good. Just doing my due diligence now. I have spoken to a couple of people who have done his course who seem happy.
     
  16. luutzu

    luutzu

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    You have his website handy? ;)
     
  17. LinSA

    LinSA

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  18. Wysiwyg

    Wysiwyg Everyone wants money

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    Don't forget Tim Sykes. :laugh: (just joking)
     
  19. cynic

    cynic

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    Out of interest, have you tried verifying the efficacy of your "due diligence" process, via examination of those educators whom disappointed you in the past?
     
  20. LinSA

    LinSA

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    What do you mean? Do you mean I should examine the people I have spent money with before to compare to who I am looking at going with this time? They are worlds apart in the what they offer and what I can find on them.
     
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