Where, from whom and how to learn to trade shares on the stock market? This question naturally worries novice traders. And in this review, we will see if you can learn how to make money with securities for free.
- Are there any benefits of free learning to trade stocks?
- Where to look for free stock trading training?
- What will you learn from free stock trading training?
Are there any benefits of free learning to trade stocks?
Free stock trading training has advantages and disadvantages. But for beginners, there are more of the latter. Let’s consider them.
- An opportunity to acquire basic knowledge: what is the stock market, what exchanges exist, how to access them, who is a broker and how to trade on the Internet?
- Choosing the most appropriate source of training. It is important to find the course or practicing trader whose training is most understandable to you. It is worth paying attention to the presentation of the information, the ease of self-perception, the structure of the free course, and the practical value of the information.
- Independent first steps. Free information on the Internet is enough to start trading on a demo account and try yourself in this business. In this way, a novice trader can “feel” the market and conclude if he likes this area.
Where to look for free stock trading training?
Free stock trading training can now be found in different formats:
- free online courses on YouTube, which are published by private traders or an online trading school;
- trading training from scratch with a telegram bot;
- articles offered by the exchange, merchant blogs, special thematic sites.
- online course, which is free – after it, as a rule, there is an invitation to paid training, but the first one is enough to understand whether the speaker is right for you and get some basic information.
Brokerage firms also have shareware training – replenishing an account provides access to the course.
What will you learn from free stock trading training?
Free stock trading training can be helpful if approached wisely. Human psychology is structured in such a way that free is often not appreciated. But with the right approach, you can learn how to trade stocks profitably using information that is freely available.
For trading courses to be profitable, it is necessary to correctly build a training plan. These are the basic knowledge you need to acquire:
- Characteristics of the exchange you want to trade: MOEX, NYSE or OTC platform to trade CFDs on shares.
- Rules for choosing a brokerage company to open a trading account.
- The functionality of the trading platform, with the help of which the trading will be carried out.
- Fundamentals of market analysis: fundamental, technical, if desired – indicator.
- Rules of the money management and risk management system.
After that, you need to study several trading strategies (3-5) and choose one of them that is most suitable for you personally in style (long-term, medium-term, intraday), analysis methods (technical, fundamental, indicator or some other).
Having chosen a strategy, it is important to work out a plan for entering a trade (trading plan) and exiting it. After that, the strategy should be tested in practice, working on a demo account or strategy tester. And only after the profitability of the strategy is verified and predictable, you can switch to a real trading account. You can open it with a broker that meets the reliability requirements and suits your strategy (for example, study nordfx reviews).
Forex advisors are recommended to be used only by experienced traders and that too after extensive testing and proven profitability.