The first step is always the hardest in any endeavor and its success or failure can dictate our entire future thinking the project which can be unfortunate if the first step goes awry. Getting started trading online can be very scary for a beginner, the time and money investment with so much uncertain outcome puts many off or makes newcomers very tentative and looking for a soft start to help them along. This is not a bad idea per se but what most people will look for is some sort of training manual or an expert to tell them what to do or a simulator to practice on. Online trading course, trading seminars or online paper trading in other words.
Just to define these terms quickly for beginners.
online trading course -
Fairly simple, this is a course made some self proclaimed expert on how to trade online, quality can vary however and is often very impersonal or relies on a lot of assumed knowledge. While some can be excellent picking the good from the bad is problematic but if you find one that works for you can be less time consuming and cheaper than the next type.
Trading seminar -
Seminars can range from very large expensive shows to smaller more personal meetings usually headed by a successful trader with some sales flair. While you can usually check the pedigree of the speaker easily seminars are time consuming and often impersonal, not to mention sometimes ridiculous costs. Some people can learn this way but many can not.
Online paper trading -
Paper trading is the act of pretending to invest money and calculating the outcomes. It is a good way to practice trading without investing anything and can show you many errors you can make along the way without it affecting your bank account. The downside to paper trading is can take a very long time and you still will not learn many key points an expert may be able to teach you.
Now obviously you can do all three of but these is also so much a thing as over learning something and you may waste a huge amount of time you could be making money doing this. So for a beginner where should you start?
First I suggest you look at your life, priorities, learning trends and money of course. Pick something that is best for you, if you are already revved up and want to get straight into it you may want a course or get into the vibe at a seminar, for those who are more cautious by nature a trial run with paper trading might get you into it more but I would not focus too much on that. IF money is an issue the seminars may be right out of the question however as they can be prohibitively expensive. The course has the advantage that you can always reference it again however but quality issues.
Most people getting started trading online in my opinion would benefit from an online trading course and doing a limited amount of paper trading to practice the things learned in their course. While trading seminars will work for some people the downsides to them can be off putting and the learning style is an acquired taste to many. Just remember a wise man learns from mistakes ... but a clever man learns from the mistakes of others and their successes. You can be wise and clever with a mixed approach as long as you can learn independently and can take a few hits even when the real money comes into play. Good luck and good trading!
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http://financialfixes.blogspot.com/2007/11/my-personal-adventures-in-trading.html
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