Which trading courses are best for trading?

The trading world is incredibly dynamic, and trading courses have become an increasingly popular avenue for people to generate wealth.

Retail brokers provide a large variety of assets, including stocks, forex, indices, and futures, making the opportunity very appealing to a range of traders.

However, it must be said that trading comes with significant risk. So much so that reportedly upward of 90% of traders are unable to sustain profitability in the long run.

There are many reasons for such a high rate of failure, one of which is a lack of education. This makes trading courses considerably important.

For somebody new to trading or for those looking to boost existing skills, tailored trading courses can offer significant value. They not only impart knowledge, they also instil discipline and consistency.

However, research is required to ensure the course you sign up for is credible and delivered by a reputable trading expert. Sites like Coursera offer a catalogue of trading courses, as do Udemy and Skillshare.  

But rather than focus on a particular course, of which there are infinite across the internet, let’s rather look at which types of trading courses will ensure you are informed of the most critical trading fundamentals.

1. Understanding the financial markets with trading courses

A course worth doing is one that will teach you about the financial markets. The markets are not some stagnant realm. They are dynamic, fast-moving and incredibly volatile.

Knowing how to navigate their complexities and the factors impacting those markets is vital. A course of this nature should introduce the concepts of supply and demand which underpin all markets.

It will help you understand how shifts in supply and demand influence price movements, and how this drives market and price trends. The course will also seek to differentiate between the characteristics of each market, i.e. how forex differs from commodities, or how indices differ from stocks, and so forth.

2. Applying technical analysis

Courses on how to conduct technical analysis are probably some of the most important courses to undertake. Technical analysis is a key skill that every investor needs to make trading decisions.

Without this knowledge, you’re likely to execute transactions based on emotions or guesswork – both of which are very likely to lead to large losses.

A course on technical analysis will teach about technical indicators, which are essential tools for analyzing price movements and forecasting future market trends. These include:

• Bollinger Bands
• Simple Moving Average
• Exponential Moving Average
• Relative Strength Index
• Moving Average Convergence Divergence
• Stochastic Oscillator
• Fibonacci Retracement
• Average True Range
• Parabolic SAR (stop and reverse)
• Ichimoku Cloud

While not an exhaustive list, these are some of the most popular technical indicators.

They are commonly used in combination with each other to provide traders with insights into market trends, price momentum, etc.

However, technical indicators are guarantees and must be used cautiously with risk management measures in place.

3. Effective risk management

This brings us to probably the most pivotal course one can take to safeguard their funds.

As we stated in our introduction, investing, regardless of the asset, is inherently risky. Yes, there are trading strategies that are likely to be less volatile than others, but the risk is still there.

So, knowing how to protect your capital is paramount. A course on risk management should include essential information on:

• Stop-loss orders. A widely used technique for limiting losses. This is implemented by setting predefined price levels, which, when reached, trigger the transaction to be exited.
• Take–profit orders. Orders like these are used to lock in profits. It is a preestablished instruction for a transaction to be automatically closed when the asset reaches a specified price. This is done to secure profits without the need for manual intervention.
• Position sizing. This refers to how much of your capital you should invest in a single transaction to avoid wiping out your entire account.
• Portfolio diversification. Another risk management technique whereby a trader will spread their capital across multiple assets as opposed to just one.This mitigates a losing trade impacting one’s entire portfolio.
• Not overtrading. Opening more trades than you can manage, or frequently entering and exiting unnecessary positions will inevitably lead to a loss of money. Ensure then that you don’t open more positions than you can handle.
• Trading journal. Recording your transactions is a great way to generate and look back on historical data to identify patterns in your trading behavior and decision-making processes. This will help you refine your investment plan and improve financial outcomes.
• Trading education. An important component of risk management is ensuring your trading-related knowledge remains updated. There are several ways to do this, and they include consuming resources like videos, blogs, webinars, podcasts, and e-books. Online trading communities offer practical insights and joining one can widen your scope of information. Furthermore, regularly reading up-to-date market analysis and following the news will further enhance your learning and trading skills.

4. Trading courses about Trading Psychology

Trading courses play a significant role in addressing the often overlooked psychological aspects of trading. Ideally, they will teach you how to better handle your emotions, andhow to remain calm when faced with losing trades.

Learning how to manage feelings like fear, greed, stress and anxiety is crucial for avoiding emotional trading, and key to increasing your potential for long-term success.

Trading courses will also highlight the merits of building and sticking to an investment plan to keep focused and disciplined when faced with volatile markets.

IronFX Academy trading courses

The IronFX Academy is a great online portal for traders to access a variety of courses. Available for both beginners and more advanced traders, the courses cover a range of topics.

From forex market terminology, economic indicators, introduction to technical analysis, charting analysis, trading strategy, and more,every course has been designed to help you acquire an in-depth understanding of each concept.

At the end, you will also obtain a Certificate of Completion to demonstrate your skills.

Free weekly educational webinars

To complement the IronFX courses, you can also sign up and register for some of the best forex webinars to help you kickstart your trading journey.

The webinars have been developed for all levels, and each one focuses on core aspects of investing. They are also delivered in English, Spanish, French, Mandarin and Farsi.

Other trading-related resources

IronFX also offers blogs, podcasts, e-books, a useful glossary of key trading terms, and how-to videos.

If you want to practice becoming a skilled investor, consider signing up for a demo account. A demo account gives you access to a simulated trading environment where you can exchange using virtual funds.

This will enable you to obtain much-needed experience without the risk of losing your money.

Trading with IronFX

Register with award-winning IronFX and enjoy a high quality, flexible trading experience, a range of tradable assets, multiple account types, and quick and easy trade execution.

You’ll also be able to enjoy fast withdrawals and deposits, and market access via the MetaTrader 4 (MT4) trading platform, the world’s most popular trading system.

The IronFX Academy also offers an abundance of educational resources to boost one’s skills and acquire fundamental trading insights.

Disclaimer: This information is not considered investment advice or an investment recommendation, but instead a marketing communication. IronFX is not responsible for any data or information provided by third parties referenced, or hyperlinked, in this communication.