I believe there are a lot of people here who have taken some trading courses, just as I did, to start trading. After some years of trading now, when I have another look at them, I see there are a lot of things missing in them. My question is, do you ever been there when yo watch a trading education course? what is the missing part you usually wish was discussed further?
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Hi Phonix
I’m still wading my way through courses so can’t really answer this. However, can you tell us what you feel was missing from the courses and education you took and where we can find information to help fill these training gaps?
The element missing from the trading I had many many moons ago was the profitable exit. This knowledge gap was missed out because the syllabus covered short-term buying only of company shares, so no forex, indices or commodities etc… Of course there is no limit to how high a share price can rise and share prices are not mean-reverting in the way that forex pair prices are. Also the share-holder receives dividends as a reward for just continuing to hold, something else which obviously doesn’t happen in forex.
When I moved on from buying shares I had a big black hole in my trading skills. And the exit is the toughest decision you’ll ever make.
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I have noticed that most training focuses on entry points and not on potential exits. A good strategy will include when to get in and when to get out even if the get outs are simply the take profit and stop loss levels or trailing stop distance.
Take profit orders are Level 1 solutions to the exit question. Trailing stops are Level 2.
The course I did was good for what it covered but we didn’t even get to Level 1 on exit tactics.
Hi mate, tbh what I feel is really missing is a good definition of risk management, they mostly just make general notes on that.
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Just wanted to say this when started reading your message. the exit point, even for long term holding is essential, ive learned it the hard way when i didnt sell my BTC on 60-70 k and had to sell in o 30k
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I think they do generally mention risk management, as in how much you should risk. Which is normally 1% of you account. But what they don’t do is tell you how to do this as I think a lot of people think that means you should only open a position of 1%, but in fact it means your SL should be set at 1% and it has nothing to do with your actual position size.
Did you know that there are very complex formulas that traders use for their risk management? I am talking about very complex mathematics that they use, what I really want to be included is an example of them, irts not only about how much you should risk, you should know ur winning ratio, ur R/R and your intial funds, then you can calculate everything
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I think a few sites do have calculators to help you work these out. But I think your right about actually know the formulas etc.
I would probably just stick those formulas in a spreadsheet so they work out automatically for me anyway.
I think traders often need real-life examples and case studies that showcase both successful and unsuccessful traders . I think these examples can provide valuable insights into the practical of trading strategies and risk management techniques.
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I think one of the things that should be remind traders more is encouraging traders to engage with trading communities, forums, and networking events to share experiences and learn from others can be a valuable aspect of education that’s sometimes overlooked.
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What I have notice to be lacking in courses and YouTube content are:
- Entries (confirmation to enter and entry signals)
- Exits (indication to manually close at trade or reduce risk)
- Scaling in and taking partials
- In depth market structure
I swear some of these course teachers either don’t know or are holding back information for the upsell later. I’m confident that they do this on YouTube. Most YouTube traders will teach you just enough to blow your account.
The worst part for beginners is that they don’t have a point of reference to know that what they are learning is lacking important details.
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I agree on the pbject of teachers of trading and here’s why.
The reasoning is simple. A trading course has 4 possible outcomes for the graduates -
- get rich quick
- get rich slowly
- get poor slowly
- blow the account immediately
Get rich quick schemes are avoided by many potential customers. Few teachers suggest this as an outcome anyway - it is so unlikely that they would definitely receive bad reputations and possibly litigation very soon.
Get rich slowly education is the ideal outcome for the students but where is the repeat business from them for the teacher?
Blow the account outcomes are generally not liked by teachers - again, very bad reputation and possibly litigation will follow very quickly.
The outcome of getting poor slowly keeps the interest, effort ambition and importantly the accounts alive, so these clients are incentivised to come back for more. They already believe from their schooling and academic histories that more knowledge equals more success and their first dabblings with trading education confirms this mantra. Repeat business is the goldmine for the trading teachers, authors etc. and for that the traders need to be losing money, but slowly. Making traders rich is not the objective at all.
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About five years ago I decided to read ALL the No Nonsense Forex videos and podcasts - all 130 or so of them. I documented the subject titles and links. Try this one on exits
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I really liked the idea, I had never thought about it to be honest. This really is helpful for all traders, regardless of their level.
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I would add remain poor longer while giving hope of future profitability…
I agree that the money isn’t in the cure, it’s in prescriptions and treatments to make the symptoms tolerable.
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I also think the same, and considering that I am still involved in increasing my experience in trading, I have not yet seen clear examples of risk management.
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I wish you luck and success in your education journey as well as in your trading 
thanks for your idea.
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On the medical theme, its the dream of many major pharmas to have products aimed at chronic, non-fatal, life-long diseases / conditions - diabetes is ideal.
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