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 rigid form of technical analysis that has little to do with what the smart money is doing. Following a technical system, by itself, can put a trader at a real disadvantage if not combined with proper risk management and the trends exhibited by institutions/whales.

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. This system was technical in the sense that it was rigidly rule based. 

However, here is one technical method 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 and a focus on higher time frames. 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, all with a track record. The first two articles will focus on the purely technical courses, the third, a course that combines both fundamentals and technicals. 

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 trading masses is not the way to proceed. When it comes to trading, the masses tend to ignore what the institutions do or clues they leave, over trade, enter too late, exit too early and risk too much. In short, the masses are dominated by ignorance, fear and greed.

One of the main reasons traders continually fail is because they don't place higher probability trades. They enter a trade not after considering many pointers but after only one technical indicator gives a signal. A trade should be entered after several pieces of evidence line up to up to produce a high probability trade.

The other reason many traders fail is that they risk too much per trade or have too high of an 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 millionaire in 15 years

Having a high average risk to reward can be a result of not patiently waiting for good entries and exiting too early. Exiting too early can be a result of placing too much emphasis on a single trade as opposed to many trades, and a fear of losing what's on the table. Not patiently waiting for good entries can be a result of FOMO.

 

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 a sense of  certainty and minimum risk. This money management strategy helps sustain you psychologically so that you can 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 covers the basics from the ground up. It also covers the basics regarding money management, risk to reward and merely placing a trade.


The other best online trading course reviews that will come in parts 2 &3  assume you've had some experience with forex. 

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's 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. Remember to backtest.

Andrew emphasizes higher time frames. He tends to stick with just the 4 hr, daily and weekly time frames. Some of his students have applied his ideas to lower time frames. I can't attest to the validity of this. 

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.

  • Hi, I have been looking how to spend these days of quarantine in a productive way. One of the things I’ve wanted to learn for a long time is how to trade. I know our psychology has to do a lot with us becoming successful traders. And also being disciplined. Up to this point, I had only been checking free stuff. But I think I have squeezed as mush as I can from free products and now is time to purchase my first course.

  • Trading actually takes more than just buying and selling, so as a trader you need to be well quipped with all necessary knowledge and wisdom needed in the trading sector and the best way is to attend online trading courses from the comfort of your home.
    On this article reviewed are some of the online trading courses you can take to prepare you ahead of your trading success so pay attention and be a winner

    • Thank you. This is a legit course that shows how forex trading is profitable. It educates you and helps answer the question: what is forex trading and how does it work? It provides you with knowledge of a 10 year plus veteran trader in the forex market who also knows how to explain currency trading for beginners to understand.

  • For me, i think every online trading course must contain all the needed basic stuff that pertains to trading as every beginner must have a very comprehensive guide if they are to get into trading.i think you have done a great job  as i have heard a lot about some of these courses and they are really good.

    • Yes, this is a comprehensive beginner online trading course focusing on forex trading that can also be applied to stock trading and cryptocurrency trading. Unlike the highly recommended Investopedia Academy, this course comes with a group forum, special candlestick pattern recognition script, templates, plus daily and weekly trade recommendations. These trade recommendations date back over 10 years and have proved effective on the long term charts over time.

  • In forex, the only thing sure is reading and continual learning and as a beginner, it becomes paramount to even do more to be safe and totally sure of recouping anything worthy. This online trading course you reviewed here is really massive and I believe that one can learn a lot from it since the video time provided for the course is massive and a long time. Well! I would advise anyone to check it out

  • RobotFX

    Valuable info. Fortunate me I discovered your website accidentally, and I am stunned why this coincidence did not came about in advance! I bookmarked it.

  • 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

    • There are a lot of forex programs out there but few are verified. One that shines through that I just discovered in Guerrilla Trading. It’s purely technical trading, which at first disinterred me, but you can’t argue with results. They have tonnes of their traders that have gone on to trade for prop firms. This is verified by at least one prop firm FTMO.

  • 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? 

     

  • 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.

  • Awesome review of this product. I have always wanted to try trading but didn’t find any opportunity to start. Neither do I know anything about trading forex. This course seem like a dream come true for me. I can’t find the price of this course. In your post, you mentioned it is quite costly. Can I know how much?

    • I know the price is quite high, but it does include his weekly webinar and subscription to his daily trades for a year which over time is profitable. It is a very good course that goes over the basics of technical trading and trade management. It looks like he now expects you sign up with email verification to get the price. I don’t have access to it.

  • As i said earlier Forex trading didn’t go well with me. I almost lost all my life savings to them. though, i tried to manage it, but each day, I’m left with no option. and what eventually fueled it all, was the case of referring my complaint to one UFX broker that provided me with a recovery service, so ever since I left it in peace. can’t continue with them.

    Nice post!

  • This is a useful article. I’ve long been interested in online trading and investing, but never really quite knew where to start. Unfortunately this arena is rife with not only people trying to scam you by selling you bogus educational material, or outright scam brokerages that will steal your money. Where do you prefer to trade?

    • I would check out Jarrett Davis as well for trading ideas. He is a professional trader and runs a fund. For a broker, it’s always good to stick with a broker that’s in your own country I believe. In many cases, compensation for cases where the broker goes defunct is only available for citizens in the country where the broker is registered as a company. Which country do you live in?

  • Forex trading didn’t go well with me. I almost lost all my life savings to them. I invested for over a period of 6 months. I began very small and when I thought I was making money I added more money, I started having doubt when my questions were being docked, I looked for help and i was referred to one UFX broker that provided me with a recovery service, so ever since I left it in peace.

    • I am sorry to hear this. It is high risk and highly speculative. The strategies mentioned above apply strict money management, but even so, it’s just the beginning of the process. A better system will incorporate these ideas with fundamental analysis. I will pray that you make a full recovery and more.

  • Thank you for all of the info and the interesting insight you have on trading. It’s true that many people fail because they trade for invalid reasons. It’s always important to be knowledgeable about what you’re getting into before you start actually doing it, and you made that point clear to everyone. I think I’m going to look into this. Thanks so much.

  • So $500/mo, is this something I add to my trading account every month? How much do I have to start a forex trading account? How much can I lose?

    All these investment gurus always want to upsell as soon as you buy the product for $hundreds or $thousands more to get the ‘real’ info. Does The Forex Trading Coach try to upsell?

    I know I have a lot of questions, but I have heard that 95% of forex traders lose. Will I be part of the 5% with The Forex Trading Coach? maybe, I know your not allowed to make any promises.

    Thank you

    • In regards to the $500 per month, yes, that’s what would be added to a trading account each month if you could average about 25% per year. The Forex Trading Coach has other products to up sell but the basic 1year program , the one trading tool add on and the continued yearly renewal to his daily signals would suffice. If you have the time to analyze trades each day then you wouldn’t need to continue the daily signals, you could find your own. 

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