Top 5 Ways to Learn Trading
First of all, I would like to congratulate you for choosing TRADING as a career. you are going to rock in this field, trust me if you have the patience to learn Trading, you are going to be the next millionaire,
The Bad thing is Trading is not an easy way to earn because it tests your patience level every second,
but the good thing is it is the best way to earn easy money, if you master the skill.
In this article, I'll talk about the cheapest way to the costliest way to learn to trade also I am going to talk about all sources of Advantages and disadvantages so that a complete beginner can understand if he is going to learn from particular sources, Then what should he have to expect and what should be avoided and what should be the focus.
Number one and the cheapest way are YOUTUBE
1. YOUTUBE
So as you know YouTube is Obviously free, but Technically, it is not you have to pay with your attention and also you have to watch ADVERTISEMENTS, But YouTube is something that does not charge money directly from you, it is one of the best ways to learn trading free of cost.
When you are learning trading from YouTube, what you have to avoid, and what disadvantages of YouTube we will talk about this
Personally, when I start trading, I also started learning from YouTube, but I realize On YouTube there are few channels that have posted whole Trading videos in a constructive way from where you can learn a to z about trading, and apart from that all channels have posted videos but randomly topics, they have not posted videos from Basic to Advanced level step by step.
There are only a few channels where they have posted videos in a structured way.
So the Disadvantage is that there are a number of YouTubers who exits... They actually did not trade properly and also there are a few traders who show their big profits to you to make you greedy the sad fact is Beginner traders get motivated by seeing this.
So the Number 1 thing to avoid while you are learning to trade from YouTube is
AVOID GETTING EXCITED SEEING HUGE PROFITS
If Some Trader is showing their big flashy profits That means that is not the result of 1 trade they have done really very hard work and their profit is the result of 4-5 years of hard work and experience
So when you start Trading You should not expect a profit like that because it is very unrealistic and next to impossible, You may get a profit once - twice, but that is your beginner's luck that thing is not going to be consistent.
So you have to understand if there is showing a big profit also you can lose big, So please keep this in mind.
As long as you want to learn from YouTube, keep this one thing in mind whatever YouTuber, you are watching and learning you have to make sure you have to pick one particular special thing from that YouTuber,
You have to understand every trader or YouTuber who teaches about trading they have their own particular speciality, so for example, there is some trader who has a speciality in option selling, others have maybe option Buying, Some have Forex, and Some have a speciality in Psychological topic.
So you can also categorize as per your need I have to watch this channel for this particular video and this channel, for example, psychological video If you are aware of that thing YouTube is the best way to learn Trading in the stock market.
So make sure you categories some YouTube channels and decide from this channel ever to watch this content and that have to watch this type of content
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2. Books and E-Books
Books are something that people are misunderstanding people do not use the right way, My personal experience about books is when it comes to trading.
So books is Now Contradictory thing when it comes to learning from books because books do not teach you Practical things Technically
In general, You will not teach practically by books unless and until you do.
As long as Books are concerned If you want to understand technical theory or concepts or let's say trading psychology then Books are very very Good
But the question is by reading Books only, you can learn to trade and become a successful trader??
The answer is NO, not at all you will only learn trading when you actually start doing it.
From books, I would like to say you will get an idea but you cannot expect by reading books you will start earning and getting profits. Ideally, it is not possible because from books you will get only theory and ideas so do not expect by learning from books you will start earning and become a successful trader.
Yes, Books play a major role definitely, I'm not saying that books are completely useless books are very, very useful unless and until you want to understand a concept or theory.
Personally, I read only psychological books when it comes to trading and conceptual books, but it is best when we are talking about technical analysis, patterns, and practical charts, it is best you watch YouTube videos for that is the better alternative
so when you read trading books this is something you should make sure you avoid and that is something you should expect from books,
If you decided to read trading books, make sure it is either about trading psychology or about a trading concept.
So that is the second cheapest option you can learn trading
Number 3 and my favorite which is the cheapest and one of the most helpful options is COMMUNITY
3. COMMUNITY
Yes, So No matter how new you are or how advanced you are make sure you are a part of the Trading Community
Because just imagine by paying a small fee just to be a part of the trading community you can get the experience of all the traders that are in the community.
If you want to avoid making lots of mistakes in your trading career the best thing to do is to join a community
First of all, Trading is a very, very lonely journey, so when you are alone, you cannot decide what is right and what is wrong and if you are going to do the wrong thing then there is no one to stop you.
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So make sure you are part of a community if you want to grow yourself fast. Do not forget to join any community, because the community is one of the cheapest options where you get lots of experience and leverage, and resources so that you can boost your trading career.
so the community is one of my favorites and that will always be my favorite
4. TRADING COURSES
Trading courses are something that, I would prefer you take when there is extra money in your pocket.
If there is no extra money in your pocket, then you make sure you do not buy any trading courses.
No, I'm not saying that Trading courses are completely useless, they are very useful, but it is possible to learn trading without buying, trading courses unless and until you have the extra money in your pocket and you want to cut out all the hard work of figuring out how to do this, how to find that thing, how to find this that, see if you choose to go for free learning then you have to do hard work of figuring out like first learn candlesticks, patterns, technicals, risk management, money management, global market, psychology, etc.
So unless and until you have extra money and you want to learn trading in a structured manner, then you should go for Trading courses. But trust me never pay more than 15k -20k rupees
Be very careful when you are buying, or trading courses because there are lots of people who just want to sell their courses and even they do not trade in real life.
So the first thing that you should do is obviously from starting a trading career you don't have to take trading courses, first try to learn for free as much as possible.
so first learn free of cost and understand the basics, then when you start getting to understand and you are watching a YouTube who is actually doing very well and his words make sense and his content is good, Now I can go ahead and buy his Particular course
So this is very important to build the basic knowledge and you will start getting who is talking right and who is the fake person who just wants to sell their courses.
So it is very, very important if you are just getting started do not buy a course, first develop basic knowledge and when you feel you have taken almost maximum free content observe then only you should go for the trading courses. If you have extra money, if you do not have extra money do not go for the trading course.
5. One to One Mentorship
You Can take one-one mentorship from a person that you know personally, personally saying means choose a person that has at least 3-4 years of experience in the market,
If you hire one-to-one mentorship that cost very high, so if you have money in your pocket then choose this decision,
most ROI gives you is One to one mentorship, you learn more as compared to others in terms of your time...means in less time you get more and more experience in market
If you Hire Mentorship It cost very very expensive, because mentors give you a personal experience and time to teach you, and they charge very high for that.
That is the reason one-to-one mentorship cost you very high, so decides as per your situation.
My suggestion is to not invest your money in this because in starting or beginning you don't have enough money to trade, so use your money wisely.
This is up to you.
CONCLUSION
So these are the best way to learn Trading,
1. YouTube
2. Books
3. Community
4. Trading Courses
5. One-to-One Mentorship
Hope you get value from this content or my blog, this blog will help you most to choose and help you to take decisions.
Kindly check more blogs ...if you want more then please drop a comment
Thank you for Reading this blog.
