Day trading schools and courses can be a valuable tool to help you achieve success, no matter if you are just starting, or you are a seasoned trader looking for useful networking connections. These programs can be organized in several different ways, such as online courses, group sessions, or one-on-one consultations, and it is important to be aware of the fact that not all schools are equal. In fact, they differ significantly, both in quality and in price.
Nowadays, there are numerous possibilities available to people looking to build or expand their day trading knowledge, and it is not always easy to choose the best program. In this article we will identify some key points to help you compare different schools and courses, as well as attempt to classify different markets that these schools focus on.
3 Key Points to Choose a Day Trading School
- Core Knowledge – the school you choose should offer you detailed insight into your chosen day trading market. Knowing your market inside out as well as having outlined strategies to maximize profitability are key elements of success in day trading. A good school should provide you with that information through futures trading, options trading, or stock trading courses, alongside freely available or affordable textbooks and literature. Many schools and day trading courses also disclose some of their key strategies free of charge as a way of encouraging more people to sign up for their paid courses, where more relevant information is revealed.
- Coaching – analyzing your own day trading performance is difficult in the same way a basketball player won’t find it easy to assess their shooting stroke. You simply lack the necessary objectivity and perspective. That is the reason why a good coach or a mentor is so important for your trading advancement. They have the sharp eye, knowledge, and the required outside point of view to evaluate your day trading style, identify any flaws, and help you correct them. Objective observers like that will provide you with honest, critical feedback and it is in your best interest to accept and learn from it.
- Support – when deciding on a day trading school or course, finding out whether they offer continuing support after you have finished the program is a wise choice, since it could be very useful to you. It is quite possible to experience slumps or develop bad habits after completing the course and a reliable support network will help you overcome your problems. Bad habits are notoriously difficult to shake on your own, that is why any outside help will be most welcome in order to adjust course and set you back on the road to success.
Our List of Best Day Trading Schools and Courses
As mentioned before, different schools choose different markets, such as stock, forex, or futures, as their primary focus. Many schools cover more than one market, but that doesn’t mean all of their programs are of equal quality. Identifying your preferred market should be one of the first steps on your way to becoming a day trader, so we decided to split our list of best day trading schools according to the market that they specialize in.
Online Trading Academy traces its roots back to the year 1997, as a training arm of one of the biggest trading floors in the country. In the early years the company’s top staff offered coaching sessions to increase profitability and consistency, and later on in 2001 they decided to solely focus on trading education by offering trading classes, workshops, and online courses and building their training center. Today, they boast a strong and thriving community with over 500.000 people having participated in one of their programs.
While their curriculum spans different markets, the focus here is stock trading. Their courses are available either online or in person and are segmented into different steps. You start with the required Half-Day Class, which serves the purpose of introduction and basic orientation, and is free of charge, before proceeding to the tuition-based main course called Core Strategy. In this course you will learn key skills and strategies and experience live trading action under the guidance of their expert personnel. Once you have finished Core Strategy you can enroll into advance stock trading courses and courses covering how to invest in stocks or try their wealth management course, which focuses on the long-term aspect. After course completion, students are able to freely retake the class at any time to brush-up on their knowledge.
DailyFX is a prominent trading news and research website, launched in 2002. Their analysts provide daily reports on the latest developments in the financial markets as well as up to date fundamental, technical, and economic analysis.
This website made our list because a significant part of the website is dedicated to education and best of all, it’s free of charge. You only need to register for some parts, while the majority of resources only require you to provide an email address.
The educational resources, found under the “Forex University” tab, comprise an online curriculum divided into four levels: forex beginner, intermediate, advanced, and expert, You can decide whether to start from the ground up, following a logical progression, or hop in at a later point, if you are already familiar with the basics.
Supporting the concepts covered during the courses, the website offers numerous extensive eBook guides and market forecasts, as well as daily webinars hosted by in-house experts, that examine current developments, key strategies and tips.
Day Trading Academy was started in 2011, the brainchild of Marcello Arrambide, a professional day trader and world traveler, who is also well-known for his popular blog called Wandering Trader.
Personal experience from his early trading days lead him to adopt a technical analysis approach to day trading that focuses on understanding the market through price action and is not reliant on certain software or trading indicators. Day Trading Academy advocates following the price of securities over an extended time period and using that to teach traders how to negotiate varying conditions in the futures market.
Whoever is interested in their program can sign up and attend a free online live class with Marcello, the owner. The course itself is available at a tuition fee and is split into four different levels, ranging from beginner to professional. This includes all online access, one-on-one mentoring, two live online classes weekly, webinars and video recaps. Live trading situations are commonly used in classes to explain concepts and enhance the learning experience. Day Trading Academy is also active on social media and YouTube, where they host useful video content.
TRADEPRO Academy was founded in 2012 by George Papazov, an experienced trader with a successful career in a major bank. Soon after launching their first technical analysis and risk management courses they added weekly live webinars and options courses focused on higher returns with less capital.
As an introduction TRADEPRO Academy offers a free six-lesson course in trading fundamentals that covers all markets. Their main courses are divided into two tiers – Pro and Elite, both available on a monthly subscription basis. The Options Course starts with the basics of derivatives and expands into options trading strategies in varying market conditions through four course levels. After you finish the options trading foundation course, there are three extra levels available at the Elite tier.