Whether you are a complete beginner in trading or a seasoned trader looking to sharpen your trading skills, choosing the right share trading school can make a profound impact on your bottom line.
But, with hundreds of courses available at your fingertips, how can you choose the right one?
Here, we’ll cover some important points to look for when enrolling in a share trading school.
What are Share Trading Schools?
Share trading schools are programs and courses that are developed to help you become a better share trader. A good and well-round trading school should help you understand the basics of trading, the markets you’re going to trade, cover high-quality trading strategies, risk management rules, and introduce you to other important trading concepts.
Some share trading schools go a step further and offer additional perks, like expert support, live workshops and webinars, to name a few, check out our Trading for Beginners course for more details. Expert support is a welcome feature, as it helps you reinforce your trading foundations and apply them in a live market environment.
Share trading schools that are worth their money can become one of your best investments. It’s hard to learn a new skill on your own, and trading is no exception. For most traders, it may take months of practice and screen-time before you start to reap the rewards of your efforts.
What to Look for in Share Trading Schools
Here are some important points to consider when choosing your next share trading school or course.
Whether you want to improve your risk management, trading psychology, fundamental trading, or price-action patterns, there are specific trading schools for almost any problem traders face. However, the key is to find a trading school that does a good job of covering a topic in-depth.
Before enrolling in a share trading school, make sure to go through the school’s curriculum.
Also, bear in mind that some share trading schools that cover a wide range of trading topics might provide more bang for your buck in the long run.
At My Trading Skills, we have created a detailed Live Trading Foundations Programme that builds the basis of all advanced trading concepts. If you’re new to trading or want to reinforce your trading foundations, you might be interested in what the course has to offer.
The Live Trading Foundations Programme introduces you to a high-probability trend-following system that is based on a combination of technical, fundamental, and sentiment tools.
The course also covers price patterns, candlestick patterns, trade confirmations, risk and money management, how to prepare a trading plan, and shows you how to apply your new knowledge in a live trading environment.
Although there is no prerequisite to take the course, it might help if you’ve taken our Trading for Beginners course first.
Another great benefit of some share trading schools is mentoring and 1-on-1 coaching. Although having access to experienced trading mentors can make or break a trader, many schools don’t offer this perk because of the higher costs involved.
Most new traders have difficulties to apply their new knowledge in live trading, which is why 1-on-1 coaching is so important. Although you cannot just copy your mentor’s trading strategy and hope to be profitable (you need to develop a strategy that works for you), a mentor can help you reinforce your trading knowledge, highlight your trading mistakes, and show you the path to consistent profits.
Feedback and reviews of previous students can also help you in choosing the right share trading school for you. You can get valuable insight into the most useful parts of the programme as reviewed by other students, as well as get to know the major disadvantages of a specific course. Reviews are also great when comparing courses that made it to your shortlist.
When picking a share trading school, make sure it has got expert support. Whether via live chats of e-mail, having the head trader of the course answering your trading questions is invaluable for your learning curve and future trading performance.
Besides expert support, make sure that your share trading school of choice also offers regular student support, including support for technical questions. You should be able to reach your trading school around the clock, either via e-mail or phone.
Just like with mentoring, many trading schools don’t offer expert support, so filter through the courses that do.
Live webinars are live online sessions attended by a group of students where a mentor goes through the course’s topics and reinforces your knowledge. Some webinars also use live markets to teach their students how to apply their knowledge in a real market environment. This feature is only offered by high-quality courses and can make wonders to your learning curve.
Live webinars and 1-on-1 sessions would likely be one of my first priorities when choosing a share trading school. The ability to ask any questions you want and get immediate feedback from your mentor is priceless for new traders. There are many complex trading concepts that you might not understand by solely taking a pre-recorded video course, which is why live sessions are so important.
Again, filter through the courses that offer live webinars as part of the programme. Most of the time, those webinars are held regularly and cover the most recent topics taught by the course.
Last but not least, the price of a share trading school should also be a major consideration of prospective students – but not the only one. While there are scams and overpriced courses all over the internet, in most cases, you get what you pay for.
Investing in your trading education is probably one of the smartest investments you can make towards financial freedom.
It isn’t easy to become a consistently profitable trader, so if you encounter a course that makes unrealistic claims, try to avoid it at all costs. Chances are that its content is below average, and that the unrealistic claims are the course’s only selling point.
Successful trading requires studying the markets, months of screen time, and discipline to stick to your trading goals. If you’re prepared to put in the hard work, then you’re already halfway there to become your best trader.
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