Best Share Trading Courses... What Do You Recommend?

Vicki said:

Hi Kav,
A friend of mine has just completed his mentorship course with Louise & Chris,
A lot of good info & ethics as far as I could tell [risk no more than 2% of your bank] at least when trading with cfd's or similar methods.

My friend is still hashing-out his own tailored trading program on meta-stock.
I'll keep you posted on his progress.
He also gave me a book to read, by Chris Tate.
A good read.

Speaking of courses & strategies, have you looked at the thread titled Bill Stacy?

He teaches his own method for day-trading options.
And there's a chance that he might walk us through a few of his upcoming trades as an example, for us to observe.

Regards,
Vicki

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WTF!!! My thoughts are the same as you Julia.

If Bill showed his statements do you then just expect him to turn the other cheek and teach you his trading method. Then again, it's $5000 in his pocket.

Vicki, I thought you already knew about Bills trading method as you've stated you lost 2 homes and 150k doing it? I wouldn't have thought after reading such your posts on the Bill Stacey thread that you'd be trying to get others to look into him?

You could buy a mountain of books with 5-7k!

Hi guys,
I was being very polite & diplomatic.

Have you had a quick look at all the posts [old ones especially] & read the comments by your fellow forum members, in regards to the 'show' Bill is running now?

To be blunt builder, I think it's still just a terd, but now he's just spray-painted it gold, & tied a ribbon around it.

Be patient, and lets run with it.
This time round, If some "spin king" is going to sell people 5k+ for a system that he addamently claims will return 2-5k per/week off 20k...

Alright, but he can sodding-well prove it here, under the watchful eye of people like yourself, where all B.S. will get the red card. [which I think he knows!]....And so will probably avoid the spotlight, incase somebody scratches beneath that 'gold paint'.

Unlike the newb' factory prayer-group that would best describe his site!

Regards,
Vicki

Thanks, Vicki. Obviously my misinterpretation. Sorry.

Spend $1000 on 12 recommended books on Stocks or FX or whatever it is you want to trade. Spend the next 12 months reading them, watching the market, and making notes.

THEN, you will know more about the markets, yourself as a trader, and the questions that are still unanswered for you. And I highly doubt you'll need to pay anyone even close to $8,000 for a trading course.

I have paid for a couple of trading courses, bought a lot of books, attended seminars and paid my dues trading in the market.

I have spent years reading, talking to traders, doing courses, testing theories in the market and found the more I knew the less I could do with it. With so many patterns, indicators and ideas to choose from, I was convinced I would never get the hang of trading.

The first course I did was the W*althWithin trading course. In summary it dealt with a number of large trading possibilities (too many with too many complexities) and was in the main based around Gann Theory. It might work for some, but knowing what I do now, the best trading concepts are really simple and that would definitely not describe their methodology.

The bottom line was for $7K it got me out of the 2007 crash earlier than I probably would have, but really did nothing much for what I use for trading now. It provided a good reference point as to what I did not like about trading courses in that they try to introduce you too many things and strategies with unnecessary complexities. They had mentoring, but I never got the impression that the mentors at that time had the required depth of trading experience.

Then I tripped over a crew called Trade With Precision via CMC when they ran a free training session. They debunked a huge amount of share trading complexity manure in fairly quick time.

I found their course info confronting initially as I had spent a lot of time and money on all sorts of patterns, indicators and strategies that I thought useful and sacrosanct, but by keeping an open mind I relearnt what I knew (read; I had to discard large lumps of complex undertandings). It dawned on me fairly quickly though that the info they were providing was simple and logical compared to everything I had generally read or been taught previously and that trading could be made reasonably simple.

They had 4 courses available when I did it ranging from longer term trading to Forex trading. You can pay separately for each module and they have good mentoring from real traders and have bods from Australia, NZ in their team, but are based in the UK.

In a nutshell, they literally throw out the compexities and frightening array of patterns and indicators and get it down to really sensible trading ideas that work. Compared to other trading methodologies, the Trade With Precision crew (in my view) deliver a very logical, no-nonsense, simple set of trading strategies that I wish I had found much earlier. There are several real traders running the operation who can provide sound mentoring when required, which is critical. Maybe I had to do it the hard way so I knew the difference when I discovered trading competence.

There are a number of authors like Guppy and I subscribed to his newsletter for a few years, but once again you get some info that is of use, but possibly too many clever ideas, patterns and indicators with no clear perception about which ones to use successfully.

For what it is worth, I have a high respect for Colin Nicholson's (Australia) and Alexander Elder's (USA) thinking and books when it comes to trading ideas as well.

They say it takes about 10,000 hours to learn a new skill (essentially the time it takes to learn a trade or profession) like share trading. I truly believe them.

The biggest cost of your share trading education are your real experiences using money in the market. Selecting the trading course and mentoring that is right for you, and applied dilligently, probably over a considerable period of time, will save you from too many inital stupid mistakes and trading strategy confusion and should eventually deliver rewards.

Why would you pay for a share trading course ?
The money you are prepared to spend, go and buy a couple of shares with it, and learn by experience. Money may not be wasted then.
If someone had a method of making money regularly in the share market, why would they tell you about it ? What, they can't make that sort of money in the market ?
Should be a piece of cake to make $5000 or $8000 or so, if they know that much about it.
If you wanted to play a guitar, would you go to a seminar or buy a book ? Well maybe you'd buy a book.
But there's no holy graille. You'll only learn, if at all, by experience and using you own money.
And how can anyone give you a guarantee, they're here today, gone tomorrow.
In this life, no one can guarantee us anything, other than we'll all die one day.

So, Noddy, you appear to be advocating just putting some money out there without acquiring any education?

Noddy said:

Why would you pay for a share trading course ?
The money you are prepared to spend, go and buy a couple of shares with it, and learn by experience. Money may not be wasted then.
If someone had a method of making money regularly in the share market, why would they tell you about it ? What, they can't make that sort of money in the market ?
Should be a piece of cake to make $5000 or $8000 or so, if they know that much about it.
If you wanted to play a guitar, would you go to a seminar or buy a book ? Well maybe you'd buy a book.
But there's no holy graille. You'll only learn, if at all, by experience and using you own money.
And how can anyone give you a guarantee, they're here today, gone tomorrow.
In this life, no one can guarantee us anything, other than we'll all die one day.

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Hi Noddy

Your response is logical, but I, like every other beginning trader has tried that strategy early in the learning process and it was probably the first education course I took and I know I paid more for the experience than all the other courses and training I have formally undertaken since.

All those things that you read about money management, market psychology, entry strategies, exit strategies, stops, trading logs, probability, profit loss ratios, and numerous other things unfortunately are not innate. You can read all you like, or just hop into the market like we all have done, but you will pay for your education one way or the other - and usually in many different ways if you survive in the market for long enough.

To use your own analogy, I would consider a good trading course and the associated traders a bit like a good music teacher; you have read all the books on music and think you can read it, you know something about the notes and chords, you have practised on your own with mixed success, but at some point you realise that you need help to bring all your understanding together so that you can play an instrument successfully. You have seen the music teacher play for you and you therefore know their credentials are good, but they can't play for you - it is up to you to go away and practice and become an expert, which takes many years. They are there to mentor you when you need it, the rest is up to you.

There are plenty of black-box rip-off's out there and would be traders running courses. You have to do your due diligence and like me, you may make mistakes if you do the wrong courses that are out there when you first start seeking help.

If you can learn and successfully trade by buying books and teaching yourself, that is great. I tried that method and it did not work for me.

I completely understand your cynicism about why someone will teach you to trade if they can do it as they should just be making money and keeping their ideas to themselves. I think that many successful traders do just that, but others probably see a way of getting further cash flow through running courses and actually enjoy teaching others at the same time.

I have learnt that you need to do a lot of background digging on a company and the people who run it to establish their credentials. Once you have done that you still might not like the end result, but if the course is not an outlandish cost, you usually get something out of it and move on.

The Trade with Precision course I mentioned is actually split into 4 parts and you can pay for them that way. I bought all 4 modules on bulk discount for about $A2800 when I did it, but I think it has gone up since. I can blow that much in one bad trade, and then some, so I am realistic about what a course will cost against what it will cost by learning a harder way. The good thing is you can just do one module and if it is not your style you have minimised your outlay. Included in any course they also provide live mentoring for 3 months where you can send trades in for discussion in a monthly webinar. They also run something called Precision Perspectives which you can pay for and they do live trades here where you can check their credentials. This is what I did intially as they give you access for a couple of weeks and you can cancel the subscription within that timeframe and get your money back without questions. To do my due dilligence, I thought this was a pretty good chance to see who they really were (traders or spin merchants) and what they had to offer.

I have no affiliation with this company, but they assisted me enormously to distill out what I knew into useful strategies, debunked a lot of meaningless clap-trap about trading I thought I needed to know and use, but didn't, and to start trading successfully. It worked well for me, it may not suit others.

I am sure they make no guarantees of success in trading just like a music teacher wouldn't or possibly could to get anyone to play an instrument, but I found by doing my due dilligence on the company it worked for me. I am still learning new things all the time about trading and to remain successful will continue to do so; and where necessary pay someone to assist if that is what is required.

Everything in life is a risk, and none more so than when share trading. Managing the probability of your likely success with trading outcomes, or those that you choose to assist you in that endeavour, is for me an important key to that success.

Cheers

Here we go, joined in March 2011 and two (2) posts under the belt and the theme of the post is...Best Share Trading Courses...What do you recommend?

Reasons said:

I have paid for a couple of trading courses........Then I tripped over a crew called Trade With Precision via CMC when they ran a free training session......They had 4 courses available when I did it ranging from longer term trading to Forex trading. You can pay separately for each module and they have good mentoring from real traders and have bods from Australia, NZ in their team, but are based in the UK.......the Trade With Precision crew (in my view) deliver a very logical, no-nonsense, simple set of trading strategies that I wish I had found much earlier.....

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No offence but to me this sounds like a sales speil, sounds like a 30 second add that should run on late night television. IMO your mob would receive more hits if they did the professional thing and organised with Joe Blow to run an add on the site rather than sneaking in under the pretence of a poster contributing to a thread.

I think it does help to getting some sort of education on trading to help you begin but it really comes up to the individual in choosing a style of trading that suits them. Jumping from system to system is useless in my opinion.

These courses that people charge thousands and thousands of dollars for are ridiculous and when people say you are better off buying some books, this couldn't be further from the truth because all these courses do is teach you basic information about trading which is free online and they come up with some stupid "signal" or system to follow like a moving average crossover or hanging man candle etc. The masses get sucked into this BS because the presenters use clever marketing to promote this garbage and add "guarantees" or money back guarantees which they never honour straight away.

You can actually get so many of these courses for free online through torrent and uploading sites and save yourself the waste of your money. I think I have downloaded terabytes and terabytes of these courses and hundreds of books. I have seen all the videos but will never read all the books and I have to say that 99.5% of all the courses are the same useless garbage.

Although, as previously mentioned, your post does seem spammy and coming on this site, you have buckley's chance of getting anyone to give positive comments about a way overpriced bunch of free information disguised as a 'trading course'. You have less of a chance trying to sucker in a newbie trader too because the majority of them end up coming to this site once they have been ripped off.

Julia said:

So, Noddy, you appear to be advocating just putting some money out there without acquiring any education?

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Well that's how I started. Opened a commsec account and bought some shares in the Commonwealth Bank with the money I transferred into it. Still have the shares.

Can learn about share trading free from internet.
The ASX runs share trading courses on line.
Also Investopedia run quite a good web site.
Nearly all other paid sites will offer a free trial.
Morningstar, intelligent investor, eureka report, southern cross, etc. etc. There's loads of them.
Some shares they recommend go up, some go down. No better than picking with a dart board. But they only publicise the ones that go up.

Thing is, all newbies think there is some holy graille of share trading secrets that the people who run seminars have access to. There isn''t.

Need to develop your own way of investing/trading to suit yourself.

The only thing of value I've learnt over the years is to cut losses short(because you're going to have them) and let winners run. And don't buy falling shares because you think they are cheap. All new people fall for that.

How you do that will determine whether you win or lose on the stock market.
Unfortunately most people lose.

Noddy said:

Well that's how I started. Opened a commsec account and bought some shares in the Commonwealth Bank with the money I transferred into it. Still have the shares.

Can learn about share trading free from internet.
The ASX runs share trading courses on line.
Also Investopedia run quite a good web site.
Nearly all other paid sites will offer a free trial.
Morningstar, intelligent investor, eureka report, southern cross, etc. etc. There's loads of them.
Some shares they recommend go up, some go down. No better than picking with a dart board. But they only publicise the ones that go up.

Thing is, all newbies think there is some holy graille of share trading secrets that the people who run seminars have access to. There isn''t.

Need to develop your own way of investing/trading to suit yourself.

The only thing of value I've learnt over the years is to cut losses short(because you're going to have them) and let winners run. And don't buy falling shares because you think they are cheap. All new people fall for that.

How you do that will determine whether you win or lose on the stock market.
Unfortunately most people lose.

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Good post noddy. I think you will find that a lot of people started off with an online account like commsec and learnt along the way by joining forums like ASF and/or chat sites like those included in the comsec a/c.

Seperating the wheat from the chaff takes time and the level of success you get out of trading is more often than not linked to the time and effort you put in and not the amount you invest in magic courses.

There is a succinct article on this topic in the Sydney Morning Herald today by Marcus Padley. Here is the link.

http://www.smh.com.au/business/inve...ds-how-much-time-you-have-20110319-1c0u8.html

Mind you, I am not promoting Mr Padley as a be all and end all guru. He has his subsriber newsletter etc (I don't subscribe) but his weekly articles are probably of more benefit than a $5,000.00 course and they only cost the price of the newspaper (unless you read it online in which case it is free).

nulla nulla said:

Good post noddy. I think you will find that a lot of people started off with an online account like commsec and learnt along the way by joining forums like ASF and/or chat sites like those included in the comsec a/c.

Seperating the wheat from the chaff takes time and the level of success you get out of trading is more often than not linked to the time and effort you put in and not the amount you invest in magic courses.

There is a succinct article on this topic in the Sydney Morning Herald today by Marcus Padley. Here is the link.

http://www.smh.com.au/business/inve...ds-how-much-time-you-have-20110319-1c0u8.html

Mind you, I am not promoting Mr Padley as a be all and end all guru. He has his subsriber newsletter etc (I don't subscribe) but his weekly articles are probably of more benefit than a $5,000.00 course and they only cost the price of the newspaper (unless you read it online in which case it is free).

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Thanks for your interest nulla nulla.
I've heard Marcus Padley speak on several occasions and always found him to be entertaining and informative. Always read his articles and watch him on TV when I can.
Agree with the acticle you've posted the link to 100%.

builder2818 said:

You can actually get so many of these courses for free online through torrent and uploading sites and save yourself the waste of your money. I think I have downloaded terabytes and terabytes of these courses and hundreds of books. I have seen all the videos but will never read all the books and I have to say that 99.5% of all the courses are the same useless garbage.

Although, as previously mentioned, your post does seem spammy and coming on this site, you have buckley's chance of getting anyone to give positive comments about a way overpriced bunch of free information disguised as a 'trading course'. You have less of a chance trying to sucker in a newbie trader too because the majority of them end up coming to this site once they have been ripped off.

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Hi Builder

This forum is about share trading courses and what people recommend based on their personal experiences and I have contributed accordingly. I have no pecuniary or other interest in this company past the fact that I found the material and people behind it genuine and useful to my own trading. I have absolutely no interest in their survival or otherwise, except that I think they probably will as I know others like myself are using their expertise to assist improving their personal trading skills.

I am as cynical about share trading courses and those that operate them as the next person (probably more so than many people as I am prepared to take calculated risks and try some out and risk getting burnt).

I trade share on a short to medium term basis (days to weeks), but found I could not day trade successfully in Forex and indicies past a slow bleed in cash. By getting help I am now starting to get an acceptable win/loss ratio in the Forex market and as a bonus am now share trading far more confidently and successfully than I was before.

I have been seriously learning about share trading for 9 years (and have a mentor who is 72 and he is still learning after 40 years in the market) and I keep discovering that the more I learn about trading, the less I realise I really know. As a technical trader, this crew enabled me to chuck away a lot of useless analysis crap and simplified my thinking and strategies. I totally concur it may not work for everyone (maybe no-one else except me). It is based on simple, sensible trading ideas and probability of success and money management. As it is not a blackbox system, you still have to think for yourself, find your own trades and live or die by your own decisions.

The info I posted is totally independent and offered in good faith based on my own experience and capital outlay and in the spirit of the forum; ignore or action it as the reader sees fit, I (nicely) don't care.

Cheers

I too have read every book out there, attended seminars and tried a variety of different trading strategies.
The most useful trading product i found was a trading course written by Dave Limburg, winner of CMC markets $100k trading comp. The course is called TheEverydayTrader - it is straight forward, easy to understand trading techniques based on relatively simple trading methods, but outlined in a susinct way that is easy to implement.
At the end of the day its all about finding out what trading style works for your personality. Educate yourself and ease into the market....and dont paper trade, it doesnt work.

I don't think anybody mentioned Smart Trading by Justine Pollard.
No bad press about her that I could find.