Do you need some Stock Trading Training?

Are looking for some stock trading training? I remember when I first started trading, most of the training sites out there were offering very expensive training courses. I later discovered most of these sites didn’t offer anything special and most of the information could be found without the need to pay.

I have put together a little trading course containing all the information I felt would have greatly benefited me when I started stock trading. The course consists of 7 classes, you can do one each day or choose your own time schedule.

Class 1: Learn to fully understand the risks of trading

I’m sure you are under no illusions that investing in the stock market can be risky. To be successful, it is absolutely essential that you fully understand the risks.

One of my favorite quotes on trading is from the world’s most successful investor Warren Buffet. He says “the only risk in investing is ignorance”.

It is no secret that the vast majority of traders who embark on the journey of trying to make money trading stocks, end up losing money, often a large chunk of their net worth. For this reason it is important not to go into trading half heartedly.

Class 2: Understand what you are reading

The first thing I noticed when I began my journey of learning to trade the stock market was there were many strange sounding terms that I had no idea what they meant. Are you feeling a bit overwhelmed by some of the words you keep hearing and reading about? If so, be sure to check out the stock trading terminology page.

Class 3: Learn the importance of trading discipline

All successful traders have a set of trading rules which they stick to. It’s absolutely essential to have a stock trading plan and stick to it. This is certainly one of the biggest factors in why most traders fail.

Class 4: Learn about technical analysis

Technical analysis is where a trader analyses charts and uses technical indicators and other instruments to try to predict where the market may head next. Technical traders do not pay any attention to the underlying fundamentals of a particular company.

Class 5: Yes, you guessed it, learn about fundamental analysis

Fundamental Analysis is when a trader relies on the fundamentals of a company to make trading decisions. Fundamental stock traders often refer to a company’s financial statements to make trading decisions.

Class 6: Learn about the different types of stocks and IPO’s

Blue Chip Stocks are stocks of well established companies. They are often considered to be lower risk and usually pay dividends. Growth stocks are rapidly growing companies and usually do not pay a dividend. An IPO is an initial public offering.

Class 7: Learn about the different types of stock broker

There are two main types of broker. Firstly there are full service brokers that typically charge very high fees, but offer you advice on trading, tax, retirement planning and much more.

The other type is a discount broker, these brokers simply offer you the ability to trade, without the advice offered by full service brokers.

What next?

Once you have completed your stock trading training, I recommend you read through the articles again. Once you feel you have a good grasp of everything, I recommend trying some virtual trading. Virtual trading is where you can buy and sell stocks with “dummy money”. It will give you a feel for trading without risking any real money. Marketwatch.com and Wallstreetsurvivor.com have trading virtual trading platforms for you to try.

Then…

I have put together some further stock trading education material that is worth looking at before you make the step of choosing a broker.