- Personal Finance
So You’ve Been Interested In Trading For A Long Time?
The idea of making lots of money from trading has crossed your mind several times and you feel the urge to get started but procrastination stops you in your tracks?
The procrastination is not just brought on by laziness and fear of losing money, but also from the uncertainty of where to actually get started. Back when I started to learn how to trade there weren’t that many sources to go to learn. Nowadays we are inundated with spam emails and companies advertising their services on social media. We are absolutely swamped with so many choices, and too many choices can be a hurdle to getting things off the ground and we can be left feeling a little confused.
There are 3 main points to tick off when choosing a trading education company. These pointers will help you separate the good companies from the bad ones and get you on the right track to choosing the best place to learn the art of trading.
Reasons to Trade
Why did you want to learn how to trade?
Before choosing my mentor I watched how he traded for a while, I just stood back and observed his choice of trades which he regularly placed on his website. What struck me was how consistent his strategy was. It worked over and over again and it became very obvious to me that I had found something special. If you come across trading sites that prefer to show off luxury items such as jewellery and clothes (which is very common nowadays) then your best option is to stay clear, because more than likely they’re enticing you so they can make money selling you a worthless course. Choosing the right course just requires common sense and you’d be able to spot the authentic ones by observing their trades and analysis and seeing how their analysis plays out.
2. Quality of Information
Really take the time to think about the quality of information you’re being provided. When learning, the information should be easy to understand and follow. If you don’t understand anything then someone should be able to give you clear and concise answers before you decide to join the course.
Avoid sites that show after the fact results of what could have been made if trades were taken. Anyone can show old charts of stocks which have done well. The best teachers are confident that their analysis will do well in the future and won’t be afraid to make themselves accountable for their analysis. If they’re able to show current stocks and update you to show if the trades have made or lost money then you can rest assured you have found a genuine mentor that you can trust.
Last but not least, find out what you get from the course you are planning to choose. If all you’re being offered is a booklet which will teach you how to trade and nothing else then run a mile. You want a company that will continue to provide ongoing support even after you have completed the course. A course will teach you how to trade but the support you get following the course is what will teach you how to make money with all the information. Trading is 80% psychology and the after care is what helps with the psychological aspect. You need a mentor that will be there for you when trading may not be going well so they can steer you on the right track.
I know of people that have bought cheap courses on discount sites, offering no ongoing support and not surprisingly they haven’t been able to make money from trading. Like I mentioned earlier, you just have to make some common sense decisions when choosing a course because the best ones will stand right out. The bad ones also stand out but for all the wrong reasons so don’t be swayed by get rich quick promises.
Now Time to Relax
Relax, Unwind and Enjoy
Now that you know how to get started choosing the right company to learn from, you can relax and unwind. I hope you feel a lot of weight off your shoulder because it's important to go through the choices with a clear head.
What you don't want to do is make a forced decision and choose the wrong course, losing your money in the process. Like with everything out there, companies can be misleading so do your due diligence first.
I remember looking at different courses when I was first starting and all I could think about was what if the course was not right. And because I had little money at the time I wasn't prepared to just depart with my cash so easily. This forced me to think about a lot of things but when the time was right I was ready to make that leap. I watched my mentor's site closely and made sure I was confident in the method he was teaching before going on the course.
My goal is to help everyone reading to avoid the common mistakes made by a lot of people. They jump onto the first course promising to turn £500 into £4,000 in a month and they show off fancy cars (like that has anything to do with trading). If you're trying to buy a course for £20 then prepare to get your money's worth. Value does come at a price so don't be afraid to pay more for something with great value.
Follow my 3 simple steps above and I’m sure you will find a company right for you so you can be on your way to finding success as a trader. Remember that there are good companies out there so don’t procrastinate and start today because trading is changing a lot of lives and it can change yours too.