With a growing number of people taking advantage of the tight spreads and significant profits, that day trading has to offer. It's no surprise then, that the demand for quality day trading training , has increased dramatically over the last couple of years.
With the demand for high quality day trading training now higher then ever, tons of companies are now marketing many different types of training materials, designed to help budding day traders make money. However, whilst many of these training recourses are very good, some yield better, and faster results then others.
Choosing the right type of training to suit you is the key to your success. It is not a decision to be taken lightly, and with the vast choice of products available to you, your decision is now tougher than ever. To help you make a more informed decision, I will now outline three types of day trading training mediums, and discuss some of the pro's and cons of each.
- Books – That's right, a good old fashion read. Books are a relatively cheap learning recourse, and can offer a good introduction to day trading. They can be excellent if you want to hone your skills in a particular area of your trading, such as technical analysis or candlestick charts. The main draw back with books however, is that you will need to do your research. You will need to know exactly what you want to learn and find a book on that particular sub category of day trading, because one book will rarely, if ever, teach you everything you need to know. With that in mind, it is safe to say that books can be an invaluable recourse when learning day trading, they are probably most valuable when used to supplement your day trading training, and to go deeper in a particular area of this investment tool, that needs more study.
- Home study courses – Home study courses offer you a good solid foundation, which should enable you to day trade successfully. Usually you will also get some kind of support, often by email, so that if you need any particular questions answered, you can have it done by an expert. Although these courses do offer you a good foundation on which to get started, it will not be complete, and you will need to complement your study with other mediums, such as books.
- Dynamic structure trading – Otherwise known as DST, dynamic structure trading is a proven trading system that consistently delivers results. There are many people offering training in DST, the training is very intense, and for the serious trader. A typical day trading training course in DST would consist of an interactive (and very intense), two month, accelerated trading course. You would be coached each step of the way, your strengths and weaknesses would be evaluated, and you would be encouraged along, and helped to fine-tune your results. At the end of your training, you'll actually start applying what you have learn t in a live real-time trading room under the direction and the watchful eyes of veteran traders. DST is for serious traders and for that reason is more expensive then other types of training. You would expect to typically pay $ 3000 for a course.
We have looked at the three main types of day trading training available to you. They all offer the private investor a wealth of valuable information to get them started. If you want to learn day trading you first need to decide what you want out of it, and choose your training accordingly.