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Your best bet is to get every book you can on trading from your local library (for free). Read everything for free that you can on the Internet. Just read and observe - don't jump to conclusions or close your mind to anything. Just soak up everything you can.
Do this for about 6 months. During this time, avoid any sales pitches, or anyone offering an easy way out. Avoid all trading rooms. The secret: THERE IS NO EASY WAY OUT. NO ONE IS GOING TO INEXPENSIVELY SELL YOU SOME MIRACLE MONEY MAKING APPROACH TO THE MARKETS. THE REAL WAY TO MAKE MONEY IS TO DEVELOP YOUR OWN UNIQUE APPROACH. BUT IT TAKES AWHILE BEFORE YOU CAN DO THIS.
Make no judgment at first about what you read - believe that anyone and everyone providing free info is honestly trying to help you. After a while, it will become clear to you:
1. What is "good" knowledge and what is "bad" knowledge - vendors with an agenda will become ovious
2. What type of trading you may like, or not like
3. Steps to take next will become obvious
At this point, you'll be in pretty good shape for your next step, which is creating your own approach. Now is an appropriate time (if and only if needed) to get/pay for the advice/systems/methods of others, if you find something you like. You'll be smart enough to avoid most sleazy vendors, and you'll hopefully be realistic about how tough trading is.
My golden rule with vendors, trading systems, promises from pros in the business, etc. - IF IT SEEMS TOO GOOD TO BE TRUE, IT PROBABLY IS!
Good Luck!
Can you help answer these questions from other members on NexusFi?
I disagree, to a point. There are systems you can buy, advisors you can follow, and professionals you can invest with that can make you money with trading systems.
I agree though, the majority of stuff out there is worthless junk.
I would add TastyTrade to the list of reliable vendors. Their content is top notch and totally FREE. It is primarily options education but I leave it on all morning when I trade and pick up nuggets here and there.
I agree and all of it's guests are traders, not advisors....huge difference.
As far as vendors, my belief is that if they are teaching/selling a methodology vs. selling a magical indicator they are in it for good reason. Bonus points if they discuss psychology and risk management in the material.
Every "registered" profession requires continuing education. As traders, we should not have a problem learning something new. I've been a plumber for over 16 yrs, and am still required by the state to take classes to keep my credential current.
Nothing wrong with buying a book on market profile, or paying a few bucks to learn about xyz method or to see a webinar by a well know successful trader.
There are good vendors out there that sell good tools. The problem is most traders want the food on the plate, they just want to make money and are not willing to work hard towards that end.
It's kind of funny, No full time trader I've ever encountered has ever used a vended system long term. In fact, most traders I know don't even use indicators at all and the ones that do will only have 1 or 2.
R.I.P. Joseph Bach (Itchymoku), 1987-2018.
Please visit this thread for more information.
short answer .... no .... but use this forum you can learn a lot and weed out the really bad vendors.... i never meet a education vendor that could really trade and was green week in week out. if you find one ... e-mail me s.a.p.