You might be interested in entering the financial market to trade financial products like stocks, bonds, commodities, and other assets, but it is wise to go through some of the best day trading courses before risking your money.
Day trading is for seasoned stock market professionals. It involves riding the daily ups and downs of the stock market and making money out of it. You must equip yourself with advanced tools and knowledge that enable you to minimize loss and maximize profits from intraday trades.
Everyone can invest money in good quality equities or bonds and hold them until they get the desired return on investment (ROI). But, buying a stock and selling it the same day or short selling it comes with great risk factors and chances of heavy losses.
Hence, you must not enter this space until you acquire the required intelligence, skills, and knowledge of day trading. Continue reading this article to discover some top-tier and popular day trading courses that will help you in real-life day trading.
What Is Day Trading?
Let’s consider you have some cash lying around for a few days, and you want to try your luck in the stock market. You can buy options, futures, forex, equity, or commodity stocks, sell them on the same day, and liquify your holdings.
If you can sell the stocks higher than the buy price, you will make quick profits. This practice is commonly known as day trading in the stock market ecosystem. However, you can also day trade with digital assets like NFTs and cryptocurrencies.
Day traders highly rely on many news sources, charting, and stock pattern recognition apps to make a profit out of day trading. Also, you need to accurately read the minds of other investors, how long-term investors are affecting the price movements, and the general market psychology.
What Are the Basic Rules of Day Trading?
#1. Ensure you always use limit orders for day trading and never use a market order. A limit ordering system is where you mention the price at which you want to buy the asset. On the other hand, market orders decide the buy or sell price depending on the market rate whence the transaction happens.
#2. You need to buy and sell the assets within the same trading session. You can also sell the stock at a higher price and buy it later at a lower price, known as shorting. However, you must square off your holdings before the closing bell.
#3. You must set a trading strategy with pre-decided values for an entry price, profit target, and stop loss.
#4. Never borrow money for day trading.
#5. Always invest the fund that is lying around. Ensure a loss in day trading will not affect the livelihood expenses.
#6. Take good day trading courses and try your strategies on a mock trading app before investing real money.
#7. You must not risk more than 1% of your portfolio. Try to keep it below 1%.
#8. You must not rely on day trading to make a living. Make sure you have a good income source, and day trading is just an experience in the finance sector.
#9. Do not start trading during the initial fifteen minutes after market opening.
#10. Avoid using margin funds for day trading in the initial days. A margin fund is equivalent to borrowed money.
Risks and Limitations of Day Trading
You must prepare mentally and financially before entering the risky day trading game. Do not speculate on high profits. Instead, make up your mind to accept huge losses before placing the day trading bids.
Day trading is simply speculation, and you are trying to make a profit out of the volatile movements of the stock market. Thus, if you have entered a day trading and see some profit, you may want to exit with that profit rather than becoming eager to earn more profit and sustain heavy losses.
Moreover, it is an expensive and stressful job that could engage you throughout the day. Thus, trade smartly once you gain enough knowledge and experience by going through some day trading courses mentioned below:
Stock Market Trading: Udemy
The potential profit of day trading relies on appropriate decision-making within milliseconds. Hence, before signing up for the game, you must equip yourself with advanced technical analysis of stocks, options, futures, forex, etc. The Stock Market Trading course from Udemy could be an option for you.
The course will teach you the followings:
- Buying and selling stocks using technical analysis methods
- Discover technical indicators that help you enter or exit a day trade
- Live day trading demonstrations
- Learn charts and trend patterns
The course comes with a star rating of 4.6 with 2,036 ratings. 19,044 students have already taken the course to shape their profit earning capabilities during day trading.
The UC Trading Mentoring is a futures trading mentorship program entirely based on prop trading knowledge. Utilized tools include the market profile, volume profile, candlestick chart, and order flow charts. The learning material covers a video course, Discord trading room, webinars, and 1-on-1 coaching sessions to ensure the best possible learning experience.
The mentoring is led by a former private banker and experienced professional in his field of work, maintaining 10+ years of experience in the financial markets.
The entire coaching process is clearly structured and follows 3 phases guiding you through the various steps to become a successful day trader.
Phase 1 is built on a video course and builds a theoretical understanding of the futures markets and day trading principles. Watch the videos and solve the enclosed exercises to internalize the content.
Phase 2 is built on a Discord trading room. Through continuous trade reviews and in close collaboration with your mentor, you will develop a trading plan fitting your individual personality. In addition, webinars and group exercises with video feedback complete the holistic support providing further resources to guide you best possible through the learning process.
Phase 3 is built on 1-on-1 coaching sessions, self-reflection, and finalizing a profitable trading approach. It illustrates a unique way to support students in their learning journey in close collaboration ensuring to reach your goal of becoming a consistently profitable day trader.
Day Trading Course: HowToTrade
If you are thrilled about day trading, are already in a good-paying job, and want to learn new skills, you must try all the trading courses available on HowToTrade. It is a popular destination for forex trading lessons from highly experienced mentors with real-world trading sessions.
The platform hosts more than 25 video courses on day trading of foreign currencies like USD, EURO, CAD, etc. Some of the paid learning content are:
- Forex Trading Basics
- A first look at Options Trading
- How to trade Forex Options
- Trading Psychology
You can also try out its free trading courses before paying for lifetime access. The free courses will help you learn forex trading basics like an introduction to forex trading, technical analysis of the forex, etc.
Top global enterprises like CAA, WarnerMedia, Vice, BCG, BBC, etc., rely on Skillshare courses to upskill or train their workforce. Hence, you can also try out Skillshare’s courses to become a master day trader. One of the popular day trading courses on Skillshare is the Ultimate Trading Course.
Furthermore, if you plan to trade digital assets, it is the appropriate course since it focuses on cryptocurrency assets. The entire course spans 8 hours, covering 48 vital and critical lessons on asset trading in the stock market or crypto marketplaces.
Another valuable class to master stock and crypto trading in Skillshare is the Technical Analysis Day Trading by Jon Trading, a technical analysis specialist. The course will cover asset classes like stocks, options, commodities, forex, and cryptocurrencies. Furthermore, the course will also help you learn the Swing Trading concept.
The 6 hours and 30 minutes long course will cover 16 lessons. You will learn trading terminologies, margin trading, shorting, order book ads and bids, price action, candlestick charts, trendlines, resistance, and many more.
The course is suitable for both novice and experienced day traders. If you have not traded yet, you can also join the class to set the right course of action. If you are an experienced trader but want to improve your performance, you can try this course to discover novel day trading strategies.
Do you want to learn day trading basics and strategies from someone who is already pulling profits out of the stock and crypto markets? You can try the Day Trading Stocks class from Skillshare.
The course comes with 18 lessons spanning 2 hours and 35 minutes. Thus, if you are looking for bite-sized online learning content that you can master in a single session, it is the right content. Furthermore, the courses are in easy-to-understand video format that you can take up at your own pace.
The course introduces you to day trading principles like:
- Risk factors
- Risk management
- Day trading checklists
- Tradable stock checklist
- A standard checklist for day trading entry and exit
- Reviewing trades
If you want to know what are the day trading strategies or want to expand your trading strategies, you should take up this course.
Online Financial Trading and Investment Course: UpSkillist
Shaw Academy has been one of the market leaders in professional online learning courses on finance, technology, photography, business analytics, etc. It has recently rebranded itself as UpSkillist. You can take the Online Stock Trading course from this platform to master day trading skill sets.
The course is suitable for all levels of stock market investors and traders. So far, 19,676 learners have completed the course. UpSkillist also gives you a certificate after successful completion of the course. Hence, if you are trying to get a job as a stock market trader in brokerage agencies, you can also leverage the certificate there.
Bear Bull Traders
Bear Bull Traders is another comprehensive day trading training provider through online channels. If you are looking for a complete solution, check it out now. First, the platform will help you get the hardware and software technology required for high-speed trading in a complex environment.
It will also help you master psychology and prepare you for the day trading career. Bear Bull Traders will also offer mentorship services through a community-based approach to not let you feel lonely in the volatile market.
One trading strategy does not work for everyone. Hence, the training platform will also help you create your own strategies through technical analysis of the stock market. Moreover, you will learn how to build your own trade book and grow your asset portfolio.
All the educational and training content of this platform is available through various flexible subscription options. If you are a beginner, start with the Intro package. As you increase your experience, you can upgrade to Basic and then to the Elite package.
Day Trading Courses: Warrior Trading
Warrior Trading is another popular destination for high-quality learning content on stock market trading. It comes with a full-service day trading training ecosystem and is suitable for both solo and business-level traders.
First, you can choose the level of training you need according to your experience. It has the following sections of learning materials:
- Warrior starter
- Small-cap day trading
- Large-cap day trading
- Day trading in an individual retirement account (IRA)
- Swing and options trading
- Mentor sessions
- Demo of trading tools
- Live trading examples and archives
You can test the training content before subscribing to the actual package. Simply sign up for the free trading class covering risk management, stock selection, etc.
You can start day trading by simply signing up for a brokerage account and accessing the trading platform offered by the brokerage house. Then, invest money to start day trading.
However, day trading is a highly risky financial practice. Hence, you must first go through extensive learning via online or in-person courses. Then, you need to use trading simulators to test your day trading skills.
Once you feel that you should try the real trading desk and have some money lying around, you can enter the actual game. Remember, you must not invest money from the family or household budget.
Pattern day trading (PDT) is a regulatory designation by Financial Industry Regulatory Authority (FINRA). The brokerage’s risk management system automatically designates account holders as PDT if they do a certain kind of trading. This designation applies to both traders and investors.
As a trader or investor, if you make four or more day trading transactions within a span of five business days using a margin account, the system will flag your account as a pattern day trader.
If the broker’s software assigns you the PDT designation, you must maintain a minimum balance of $25,000 in your margin account. The PDT system discourages investors from excessive day trading.
Day trading could be a challenging career that has the potential to earn a handsome amount of money in a short period. Remember, you can only see higher ROI during day trading when you are appropriately equipped with the right knowledge and skill sets.
If you are a newbie in the stock trading ecosystem, you should go through some of the best day trading courses before entering the market. We know scouring the internet for reliable day trading learning resources could be hectic. Hence, we give you some top-notch training courses you can take and invest in.
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