Back in 2016 the UK’s Financial Services regulator, the FCA, reviewed retail trading and found that 82% of traders lost money – or to put it another way 18% (about 1 in every 5) traders made money or broke even.
Trading is a zero-sum game so you’re going to get winners and losers but it need not be this one-sided.
The fundamental truth is: Too many new private traders come into trading unprepared and under-skilled.
With decades of experience training and working in brokerages in the retail derivatives industry, we saw an opportunity to offer a service to help solve this very real problem.
We’re not the only trading education provider but we strive to be different in a few ways:
- We aren’t just focused on a single strategy – we teach an approach to trading – our aim, in time, is to develop your skills to a point where you’re forming your own strategies, within this approach.
- We don’t sell the quick fix. Trading is like any skill, it takes time, effort, and commitment to get good enough at it to deliver the outcomes new traders want. We can cut your learning curve by teaching the right things at the right time, but it still needs commitment.
- We’re prudent. The biggest risk to a new trader isn’t being wrong, it is being overleveraged and wrong. The theme that runs throughout is to control your leverage.
- We want to make it accessible, we do this through technology so we can reach more people, and by keeping the prices down – we’ve seen competitors selling for thousands what we give away for free – don’t confuse price with value (that’s trading 101).
So with these values front of mind, My Trading Skills was formed in 2017 and we have been helping private traders ever since.