What are the Best Online Trading Courses? Part 1

Characteristics of the Best Online Trading Courses

The following is simply my opinion on the best online trading courses. It is not a guarantee for trading success and should not be considered as such. 

Let me start with something controversial-a criticism of technical analysis. I believe the reason most traders fail is that they implement a pure form of technical analysis. Technical analysis, by itself, can put a trader at a real disadvantage if not combined with proper risk management, volume analysis, or fundamental analysis.

If you don't believe this, I can provide evidence of how Richard Dennis, head technical Turtle Trader, lost millions of dollars of managed funds in 1988. This fact, of course, is rarely mentioned.

However, there is one technical system that I know of that has stood the test of time. What sets it apart is not that it is technically based, but that it incorporates an excellent risk management system. This type of risk management combined with the author's insistence on a confluence of evidence for a high probability trade makes for a robust system.

The following is the first part of a series of 3 articles highlighting three different courses which I consider to be the best available. This first article will focus on the purely technical course, the second, a course on fundamentals and the third, one that combines both.

These courses focus on trading the forex market, but the basic principles behind the courses can be applied to other markets: stocks, commodities and cryptocurrencies.

The Problem with the Masses

Following the masses is not always the way to proceed. When it comes to trading, the masses tend to over trade, enter too late, exit too early and risk too much. In short, the masses are dominated by fear and greed.

One of the main reasons traders continually fail is because they don't trade for valid reasons. They enter a trade not after considering many pointers but after one technical indicator gives a signal. A trade should be entered after several pieces of evidence indicate a high probability trade.

The other reason many traders fail is that they risk too much per trade and have a high average risk to reward ratio. Risking too much per trade is a result of greed and an unrealistic expectation of trading. All you need is a 25% per year win rate and a steady job that allows $500 monthly contributions; you'll be millionare in 15 years

Having a high average risk to reward is a result of not trusting your enteries, placing too much emphasis on a single trade, and fear of losing what's on the table.

 

The Best Way to Learn Forex Trading for Beginners

The course I'm about to introduce is different than most because it combines finding high probability trades along with excellent risk management. This course helps traders enter a trade with certainty and have a winning edge over time. 


It allows low risk overall since you enter only a small percentage risk for each trade. However, the average risk to reward is very low meaning that for every winning trading you'll gain 2 to 4 times the amount that you risk.


It's the first course mentioned in this series of articles because it's the easiest of all three. It also covers the basics regarding money management, risk to reward and merely placing a trade.


The other best online trading courses I'll cover tend to leave these lessons out or assume you've had experience with forex. They are considered to be more intermediate to advanced courses.

best online trading courses

Why Some Consider it the Best Forex Training Course : Evidence

The course I'm introducing to you is called "The Forex Trading Coach Online Forex Video Course." It is well known in the forex community especially on such testimonial sites as "Forex Peace Army." In fact, the owner of the "The Forex Trading Coach," Andrew Mitchem, is a regular contributor there. 


It has a long list of positive reviews and a result is known as one of the best online trading courses, but this can always be due to affiliate marketers merely boosting their product. However, "The Forex Trading Coach" has stood the test of time.


 Many students have testified, independent of the rating sites, of the gems they have gleaned from this course. I have taken some of the ideas from the course and improved upon them.


The Forex Trading Coach supplies daily, Weekly and Monthly trading signals as part of the video course for up to 12 months. These have a track record dating back eight years. The Daily signals alone have an average of about a 20% win rate, yearly. I followed them for a time, and the winnings were consistent with what was recorded by the operator.


Although 20% annually may be scoffed at by some, these results have been consistent mostly because of the excellent risk management. I mentioned earlier that you only need 25% annually with monthly contributions of $500 to make you a millionaire in 15 years.


The key to this success is not to get greedy and be consistent with the contributions and low risk. There are more ways that the course can add to this annual percentage but keep in mind with more trades comes higher risk and greater drawdowns.


What also sets this course apart is all that's included:

  • Over 4.5 hours of videos explaining the concepts clearly along with well-explained notes.
  • 12 months of access to the Daily Trade signals
  • 12 months of access to the Forum site with live chat where you can converse with other traders 
  • 12 months access to weekly live trading webinars where the ideas are put to use in real time
  • 12 months access to all previous recordings of the trading webinars
  • a help desk and more

The Problem with a Free Online Trading Course

 

You tend to get what you pay for as the saying goes. The Forex Trading Coach is not cheap by any means, but it's well worth it. Over time it has turned many into profitable traders and provides a community with full support.


It is better to pay for quality and not waste your time elsewhere. You won't find a better technical course on trading out there and one that is as applicable in all markets.


Although the system itself is simple, don't let that fool you. It's the author's instance on the confluence of technical indicators for a high probability trade and sound money management that sets this course apart.

Best Online Trading Courses


What you Need to Do if You Purchase this Top Online Trading Course

If you decide to purchase the course, then you need to go through it thoroughly and attend the webinars regularly. You also need to pay close attention to Andrew's method of finding a high probability trade.

Not all trades are of equal quality, and Andrew reasserts this in each of his webinars. Only a strong confluence of evidence leads to a more accurate trade.

A high probability trade is not enough. Andrew combines these quality trades with excellent risk management. He emphasizes that a consistently small amount risked mixed with quality trades and low risk to reward leads to success over time. It's a slow race to the finish. Keep your risks low.

Once again, this is the one technical system that I know of that is built to last. What sets it apart is that it emphasizes low risk, low risk to reward ratios, and high probability trades and excellent training in general.

Andrew's course exemplifies the philosophy of all great teaching: repetition is the mother of all skill. Andrew's course gives multiple opportunities to learn the content well.

Remember to pay particular attention to what constitutes a high probability trade for Andrew and don't be shy in asking him to highlight the criteria for you. Repeat the requirements to yourself by examining hundreds if not thousands of past trades on the charts.

If you do decide to purchase the course, please consider buying through my affiliate link here and below. The link contains more information on the course as well.

  • Shannon says:

    Forex trading has been on my radar for a while now and I always get skeptical of programs when people tell me I have to watch a video or join a conference call first to get in. I don’t know why maybe because it’s always been a bad experience. 

    I asked one young lady about it and she sent me a 20 min video instead of just sharing what it is she is getting from it and how it worked for her.

    I am really considering going in on this market but I do know I will need the proper training. I feel you have explained this program very well for me to give it a shot when I am able to dispose of 500/monthly for that 15 yr goal of becoming a millionaire. right now that’s just too steep making it HIGH RISK making it a no no by the standards of your program. 

    I was wondering what experience do you have with the program, and what do you like most about it?

    Thanks for sharing

    Shannon

  • Glenn Hodges says:

    Thank you so much for writing about the “level headed” approach to trading.  The concepts you mention, specifically risk analysis and discipline are learned skills in and of themselves.  In my opinion, only a handful of  people will actually take the time to fully learn these skills before (and I should underline the word) they dive in.

    I can see where having a training course that implements these skills as they relate to trading will really help to tie them all together.  I’m fortunate to have a risk analysis background and look forward to reviewing the course more thoroughly.

    As I read through your review and most of the additional pages on your site, I ran across some terms that I was unfamiliar with.  Is there a reference you recommend for understanding many of the trading, Forex and the industry? 

     

  • Renton says:

    I have been quite interested in trading of late. I think that if you can learn the ropes, learn the signals and are patient and disciplined you can do it successfully.

    Most people seem too impatient and chicken out and end up buying high and selling low. I think a good solid foundation for trading is an integral part of anyone education.

    Even if you don’t intend to trade, it is definitely interesting to know how markets work and how people make money from trading.

    This may even help you if there is even a slight chance that you might be running your own business in the future.

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