Getting the Right Education: Choosing The Right Webinars to Help Meet Your Trading Goals
The right education is extremely important because if you learn the wrong methodology in trading, you’re going to lose your entire trading account. Here is some solid advice you can use when it comes time to choose the right trading webinar to teach you how to trade (whether it be through webinars, books, courses, events, or telecasts.)
Most traders, years ago at least, started out by going to the local library and reading stacks of books and training materials on trading. Some went to college. But learning the many hundreds of different systems and methods on trading is a lot to weed through and to do it alone is overwhelming.
In fact, there’s so much literature written out there about trading, that the problem is no longer “How do I trade”, but “What source or book can I trust?” You’ll be asking yourself, what system works and what the right system is for you and your goals, and it quickly becomes an information overload.
So while turning to libraries and bookstores as the primary source of your information is a worthwhile activity, the most effective and efficient way you’re going to find the best trading webinar educational series available is through recommendations. Many companies, online and in person, offer trading courses, schools, and programs, and many are useful. A good way to start comparing trading schools and webinars to each other is by evaluating how they teach.
Look for companies that utilize video capturing software to capture their computer screens in an effort to instruct their students in a step-by-step manner how to trade and the trading methodology behind their instructions.
When learning how to trade, you’ll want to be taken through the entire process of screening, analyzing, executing and closing a trade on video. Because trading is done online, you’ll need to be comfortable with working charts, analytical software, and your broker’s online trading platform. Learning how to actually execute a trade is an entirely different level of education, and the reason is because every broker has their own proprietary execution system or trading platform.
What’s The Worst Case Trading Scenario?
Your education should be focused on teaching you to weight the best case scenario from the worst case scenario. Every time you put a trade on, it needs to be done with the knowledge of not only how much money can be made, but how much can be lost. You can be taught this mentality as a new trader, but stay away from trading webinars and educational programs that primarily focus on how much money can be made. That’s an unrealistic approach that will create unrealistic expectations.
Some of the biggest trading schools out there preach fake truisms to hook your ambitions by telling you that you’ll make 300% on your money and that you broker trading account will double every two and three months. That’s not realistic!
You want an educational trading company that is going to show you the right way to get into a trade, when to get out of a trade, and how to analyze the risk. It’s dangerous to join a program that is impractically ignoring the risk of trading, because we all know, even the market’s greatest and most prolific traders are wrong, at the very least, some of the time.