Hi - I think it is really difficult for anyone to recommend anything. It all depends on what you want to trade and how you want to trade it. There is no course that is right for everyone otherwise we would all be pro traders.
You need to understand yourself and your personality - ie are you patient and can wait for the perfect set up using indicators or like me want quick in and out and scalp? So different.
If you are into Day trading indices I would recommend Trader Tom. Amazingly successful - he doesn’t offer courses or sell anything - this is important as there are scammers who pretend to be him and do charge. He has a great website full of great resources and has a free telegram channel which really helped me understand the pyschology of trading. Worth checking out
I explained it on here the other day but it was lost on everyone, the world has been at war 92% of the past 3,000yrs, if you do not approach trading to be in the top 8% you will lose, however you also need to be in the top 8% only 8% of the time, this is where everyone fails as that drives you in to the top 0.2% which is where true success is.
The only way it works to succeed is by the few people telling you what not to do, for example paper trading will do nothing to help you whatsoever, however who are those few, well if you haven’t heard it before then it’s a good start as most ‘correct’ information will be pulled simply because it looks like wrong.
Are there any trading courses you can afford that will help you, no, but you will spend 10,000hrs (a decade) buying them and to try and achieve the same result probably spending $1,000s or more not just in capital (which can be recovered), but in time (which cannot be recovered).
If you approach buying a course as an incremental step like buying a book over a multi year timeframe then you pick the least worst and try, if you want something that works within months then these are very few and far between, do they exist, they do but that comes down to who you know and whether you say the right things from the start, rarely do these combinations combine.
I highly recommend the course on Babypips here since Babypips is referenced by many people and reputable sites. As a supplement or additional learning, I would check out the many great forex courses on Udemy. I have an annual membership and a lot of them come free with that membership. As far as book learning there are many books I would recommend.
Anna Coulling’s Forex for Beginners and Volume Price Analysis are also very good.
Naked Forex is absolutely excellent, both the sections on Support and Resistance zones and the psychology of trading. Pay special attention to the section where they talk about the ‘Cycle of Doom’.
The Art of Currency Trading by Brent Donnelly is very good as well, though his tone can come off a bit eh… well I’ll let you decide on that. Anyhow, his section on risk management with the Kelly Criterion is very good!
I’ve read all those books and many more, am working through a few of the Udemy courses and then will jump into this Babypips course. After that it’s going to be buckling down and practicing at least 1+ hours every day. Also, consider checking out Forex Tester as a great program for practicing your trading and testing your strategies. It was recommended in the Naked Forex book and I think it’s worth it. But that’s up to the individual, so ask me again in a year if I think it was worth the money.
I shy away from recommending forex trading training courses. Apart from some simple TA there isn’t a great deal to absorb which is highly productive. The TA is not complicated and is well explained in numerous free resources, including babypips.
Many traders feel they need a degree-equivalent training in trading to succeed, so the more they know the more they will earn. This just isn’t true intrading. It isn’t even true in the real world.
Do a course only if you need to evaluate trading within an imminent deadline.
Honestly not using any strategy just yet, since I’m still studying. In about 3 weeks I’ll be starting 1-4 hours a day practice using MT4 and Forex Tester. My initial goal for that practice is to use the candlestick patterns explained in Naked Forex coupled with support and resistance zones I’ve marked and support/supplement that with volume price analysis.
I want to use the volume as a kind of evaluation or confirmation that the pattern I’m seeing on the S&R zone is supported by the big players.
Anna Coulling does a good book on VPA, but if you want to dig into the origins of the method, check out Richard Wyckoff’s books. I’ve yet to read them, but they’re on my wish list.
Before you buy any courses, please make sure the mentor of the course is able to give you a good foundation of why does price moves. And in his/her trading strategy, he/she able to explain why do you need to do so. By explaining I mean, not something that this crossing this before crossing that and then you enter etc. Rather, something that is logical and understandable like a business man would’ve done in any deal. After all, trading is a business and you should treat like one. This is not a drawing contest.
I think this works for those seeking external validation, kind of like proof that they did the work and gives them that confidence. Maybe that’s how it works.
eSignal GET (no affiliation), it’s the closest you will get to something that works as it’s built on the Advanced GET system which they bought years ago, and as close to institutional as retail will find, after that you are in a different world.
For example we have over 2million words of in-house content and access to a hedge fund platform with built-in algos that do the work of 250 analysts, but rarely anyone gets to use it because the markets work differently than how everyone believes they work.
Your benchmark using anything you can find publicly is 5,000hrs to breakeven, and 10,000s to profitability, where you will have 92% probability of loss 92% of the time (making the intersection 0.64%), if you want to succeed you need to target between 0.64% (materially profitable) and 8% (breakeven).
I think there are many great Youtube channels for trading out there, but I personally love and recommend to check Warrior Trading, Adam Khoo, and Rayner Teo.
You have 92% probability of loss 92% of the time making 0.64% as meaningful profitability, if you take it that each course will provide you 0.64% of the knowledge to get there you have to take 155courses, although breakeven is 8% so only 143courses, funny how it works.
First let me tell you that no course will give you complete trading knowledge but they will definitely strengthen your basic and then you can navigate further. In this case, babypips School of Pipsology can help you develop your trading basic.