Learn how to trade online
Before you learn how to trade online, you need to consider the following 6 points:
Firstly, you need to think about your current career:
How much time you have to commit to trading the markets?
For example, day traders place trades (or positions) multiple times per day. Swing traders leave positions open for longer time periods. You’ll need to consider which suits you best.
Secondly, before you start to trade online, you’ll need to determine your end goal:
- Do you intend to learn to trade as a primary income source?
- Are you looking to leave your current employment?
- How much budget can you commit to learning how to trade?
Answers to these questions are personal to you but, will help you to choose the right trading path.
Consider your options carefully.
- Trading courses can range from a half day, to a 12-month programme – so make sure you’re buying the right level for your needs and ability.
- You may wish to meet the coach before buying. Look for a qualified technical analyst to coach you.
- Courses should also be CPD certified (or equivalent).
Without a doubt, a decision to learn how to trade online means a lesson in trading jargon! This should be incorporated into your beginner trading course.
Learning how to trade is like learning to drive, how to cook a new recipe or arriving at a new train station… for a few moments you are lost, and then it all becomes clear!
Learning the language of trading is straight forward, but don’t be surprised if when tuning into your first webinar on how to trade, you feel a little lost at first – don’t worry, it soon passes!
To get you started, you can download our trading jargon guide here.
What equipment & software do I need to trade the markets effectively?
Our in-house technical team will be happy to help with free and no obligation advice.
Our professional traders have significant power in their PCs, with multi screens, and all the bells and whistles. But, most beginners start with a decent laptop with good memory, and a decent graphics card. For a detailed specification, please give us a call, we’d be happy to help.
Choosing a broker
How do I choose the right broker to start trading online?
We highly recommend setting up with a broker who offers a demo (demonstration) account. This is critical for those wishing to learn how to trade in a protected environment.
You’ll see live buy and sell prices, and you can start to put your training into practice. Trading using your demo account eliminates the risk, until you are confident to start trading live.
What questions should you ask a broker?
- What’s the minimum deposit needed to open an account?
- How many trades do I need to place each month?
- What are the costs?
- Software compatibility (if you need this)
- What are the spreads and margins (the cost of trading)
At Trading College we teach technical analysis – which means reading the charts.
To trade, you will need charts to analysis. Charts are graphs that display the movement of price within a particular market and time frame. Most charts display Japanese Candlesticks, which will be explained in your beginner’s course.
There are external websites offering comparison tools of charting packages, and these may help you to determine your needs. Not all chart packages will support the software that you may wish to use, so make sure you ask for advice if you need it.
To conclude, do your research and know your goals. This will lead you into the right course or programme for you. Ultimately, this better prepares you for when you are trading the live markets.
Here at Trading College we offer low cost options for beginner traders with courses starting from £34.80. You can call us to discover what your options are or click here to read more about beginner traders.