Everyone who is interested in trading faces the same question. How do I start trading? How do I learn trading? It is not easy to answer this question, because trading is a very complex and extensive subject. We would like to show you here how you can best learn trading and what possibilities and tools there are to acquire knowledge. Because two things are of enormous importance in trading - knowledge and experience.
How can I learn trading?
The most important thing at the beginning is to acquire the necessary knowledge. However, this is divided into several aspects. First, you need to know about the financial products and platforms. But before that, you first need a general understanding of the market. It is important to learn how the stock market works. Only then you can understand the market and its reactions and try to anticipate. If you know how to correctly classify the current news, you will have more success in trading, but also in investing.
You can learn trading in different ways. If you don't have a personal coach, there are 4 different ways to learn trading. Which way is the right one, you have to find out individually. Each method has its own purpose, advantages and disadvantages.
Way 1: Trading books
Books have always been a classic way of acquiring new knowledge. Books are also excellent for learning trading. It is more difficult to find the right trading books. Because the choice is almost limitless and that makes it difficult to separate the high quality books from the "garbage". Here, however, the ratings can be a good indication of quality.
Books can be very helpful and a good introduction to trading. But you have to know that books always teach only the theory. So in trading, the theory and the practice are two different things. But with books you can learn any theory about the stock market, whether it is about the stock market in general, about chart analysis or about market psychology.
Way 2: Online courses
Another way to learn trading and acquire knowledge are online courses. Similar to books, the offer is also quite large. From special beginner courses to professional courses, there is the whole range. Here, too, you have to pay attention to the quality of the online course. Perhaps even more so than with books. Because with online courses there are also many, with little content, which only want to make money.
Online courses have a significant advantage over books. In good online courses, trading professionals clearly teach trading on the stock market using examples. Trading courses can thus combine theory with practice and bring it closer. However, good online courses for the stock market and trading are significantly more expensive than books. For comprehensive and high-quality courses you can expect prices higher than 1000€.
Way 3: YouTube
Besides books and expensive online courses, YouTube can also be a source of useful information on trading. Especially for beginners, there are several YouTube channels dedicated to the stock market and trading. Here you can find informational videos to learn the basics. But also examples and live trading can be found on YouTube channels, as well as live trading.
So YouTube offers the opportunity to learn both the theory and the practice. When it comes to theory, however, most videos are not as detailed as books. However, YouTube can still be used as a descriptive supplement to books and online courses. The selection of trading YouTubeers is large and here it is called look in and try out.
Way 4: Making your own experiences
We have already mentioned that knowledge and theory are important in trading. But it is at least as important to learn the practice. And the best way to learn this is through your own experience. Trading is more complex than you think. Even if you master the theory, it does not mean that you are a good and successful trader.
In trading, it is important to learn what a strategy is. This strategy finds in the end only through experience and practice. Just as important as the strategy is to have your own emotions under control. Because fear and greed have no place in trading and are often the number 1 reason why you lose money. Therefore, it is important to start as early as possible with a demo account and experience trading. To experience what it means to be suddenly in the minus or strongly in the plus and still remain true to your strategy. That is the high art of trading - discipline! And discipline can only be learned through consistent practice, preferably with small amounts of your own money. After all, trading with real money is completely different from trading with a Demo account.
Which is the right way to learn trading?
All ways! As already mentioned, it is important to learn the theory and acquire knowledge about the stock market. How to do that is up to each person. Both books and online courses can be an important source of information. YouTube helps to get new ideas and be informed about current events in the market.
While knowledge and theory is one half of learning to trade, the other half is practice. Trying trading yourself is at least as important and should not be neglected. A demo account is definitely useful. Even if you trade with small amounts of real money at the beginning, you can learn a lot here. Finally, it is important to say that learning trading is a long process. Success can be a long time coming. Discipline and a clear strategy are the ultimate goal.