If you are brand new to the trading world, I welcome you!
Trading can be rewarding if done correctly. You can build your retirement, supplement your income, get more free time to spend with your kids, and get yourself away from a job you hate.
With all these benefits, there are the negatives that come with trading. It can be tedious, complicated, expensive, and challenging to learn.
However, that’s why I am here. My goal is to help you in your trading journey by simplifying trading and making it easier to learn.
Trading is an activity where your actions are tied to you personally, such as your risk tolerance, and your decision making will change the way you trade.
Similar to trading when you look at losing weight, there are steps, processes, and diets that work for most people, but everyone’s body type and habits are different.
Specific weight-loss programs and exercises are more effective for certain body types.
When you look at trading, there are various types like day trading, swing trading, options trading, or long-term investing. There are even multiple strategies. However, the way you execute and manage those trades will be different for each person.
When you hear about the best trading strategy, or how someone is earning $750 everyday trading, it might not work for you because it doesn’t match your risk tolerance or style.
Which one is right for you, and where do you start?
That’s the tricky part about trading… it’s difficult to learn until you try different things and see what fits your needs, personality, risk tolerance, and capital size.
You might have noticed there’s a ton of information out there!
You could read articles and watch videos to learn, but remember that these videos are not targeted toward your risk tolerance, your capital size, and your goals! They are targeted based on your interests from previous videos you’ve searched for or clicked on.
If you’ve searched for swing trading, you are probably getting a lot of videos related to swing trading even though it may not be the right fit for you.
Ideally, your goal is to find a style and strategy of trading that works for you based on your risk tolerance, age, objectives, capital, and time availability.
If those things don’t match up – you’ll never be a successful trader.
You must interpret the best plan of action to learn and move forward, get better, and put your money to work.
If you are struggling with this, it might be wise to get a one-on-one coaching session that could jump-start your education. In a private one-on-one session, we can come up with a personal study plan based on your needs, risk tolerance, goals, capital amount, and more!
Have you ever tried to learn to play the piano?
If you sat in front of all the keys as you try to fumble the keys, it’s time-consuming to learn on your own, but eventually, you will get it.
So then what’s the fastest way to learn to play the piano? The quickest way to learn to play the piano is to have a piano teacher help you as you make mistakes and show you exercises that can improve your skills.
Without a doubt, one-on-one instruction is the fastest way to learn anything, and it’s no different in stock trading.
Having a trading coach or mentor helps a lot!
A trading coach can show you the bigger picture, point out things you might be seeing, and recommend exercises for you to try to build you as a trader to reach the next level.
Remember that there is a trade-off. With personal one-on-one coaching being the fastest way to learn, it is also the most expensive because the time spent with one student can’t be duplicated or resold.
For example, searching for articles or videos takes time. You have to click through, it might not be what you wanted, or the information might be repetitive on what you already know or heard.
Mix that in with the ads you might have to watch, and you have a lot of wasted time.
Besides, because free content can’t go into full depth, they typically cover one central point at a time, which means the information you receive is surface level.
It’s not that free content is terrible. It’s just not as efficient with your time, especially if you are going to be putting up a few thousands of dollars to trade or invest.
By spending a few hundred dollars, you could save your self hours of research by going with video courses or one-on-one private coaching.
The main thing you have to determine is what asset do you have available to you?
Do you have a lot of time on your hands or do you money on your hands that you can use to invest in yourself and save time learning?
Memberships are a great compliment to other learning methods.
With membership plans, you can get insight on current market evaluations, strategies, group coaching, and more.
What’s essential when choosing a membership plan is to select a membership plan that helps you learn to trade and improve.
Membership websites that feed you trades give you little educational value. When the site goes down, you won’t know how to fish for yourself. In the end, it is best to find a membership plan that you can use to improve and grow yourself as a trader.
But learning to trade from a book is tough! Platforms change, order execution is difficult to explain, and writing technical content into a book is difficult. How do I know? Because I’ve written multiple trading books!
Using books to learn to trade is fantastic for the beginner! When you have a book, you don’t have to hunt for information online, and you don’t have to watch ads.
However, because books lack visuals, it gets challenging to study intermediate to advanced content.
Therefore, if you are using books to learn to trade, make sure you are studying beginner content, basic strategies, tips, mindsets, and trading behavior. Anything beyond that and you may want to jump onto video courses, coaching, and memberships.
If you look at the cost per teaching hour for video courses, they are often an incredible value. For example, one of our courses that sells for $499 may seem like an expensive purchase, but the course is 22+ hours!
If you break the course down into an hourly rate, it’s only $22.68 per educational hour!
When it comes to video courses, you get a powerful distribution medium that’s great for visual and auditory learners.
You don’t have to waste time watching ads or hunting for information. In the end, they are an excellent value for people that are serious and interested in learning to trade.
Using chat rooms to learn to trade is difficult because people have general conversations in chat rooms. The substance of the content is often low-quality when it comes to knowledge.
Seminars are another thing people try, but the content is focused on new traders. Also, they are expensive between the event fees, travel, and hotels, and time-consuming for little knowledge. They are great for networking, but as far as educational value goes – it is limited.
Webinars are better than seminars as you don’t have the travel time involved or expenses, but few have great educational value. Many are all about collecting your email address or selling you products you don’t need.
Without a doubt, you will eventually have to execute a trade! Gaining experience by just playing around is expensive and time-consuming.
Over the years of working with many traders, I found that a combination of multiple coaching sessions paired with video courses and books gives you the fastest results while still being cost-effective.
For example, people who are brand new to trading often wait to get a coaching session. They say they want a coaching session after they “get more knowledge.” The problem with this approach is that half the content they studied could have been skipped. In the end wasting their time, energy, and money on material that’s not right for them.
What I found works best is to immediately have a trading coach or mentor help you create a learning path and plan. It would be specific to your needs, goals, risk tolerance, and capital size.
Then your coach can give you a recommended list of videos to watch, courses you may want to seek out, and books to read. After you get through those things, have another coaching session to clear up any problem areas.
Repeat this process multiple times, and you’ll save your self a lot of time, learn to trade faster, and it will be cost-effective.