Training Classes for Day Traders
Although not necessary, many day traders learn the game by enrolling in a training program, ranging from a graduate-level certificate program offered by Northwestern University to DVDs hawked on late-night infomercials. No program can guarantee success, nor is any one program right for every trader. A few of the bigger and better-known programs are listed here, but check them out to make sure they’re right for you.
The larger brokerage and research firms offer their own training courses, often at little or no cost. Consider those as a first option, but keep in mind that their introductory sessions may be sales pitches for more products and services.
Plenty of great and legitimate training firms are out there — as well as a lot of scammers. Run from anyone who guarantees your success and don't sign up for a training program until you know what you need to learn.
FX:1 Academy offers in-person training courses in foreign exchange. The bad news is that the courses take place in Asia, mostly in Singapore, which can be an issue if you live in the United States. But if you’re interested in trading currencies and find yourself in Asia, you may want to investigate FX:1's courses.
Pristine has a range of books and DVDs, online and in person classes, and coaching services in English and Spanish, covering trading skills that work in most markets. Its courses operate at different levels, with some requiring extensive trading experience using specific software packages.
Trading Advantage, run by an experienced commodities floor trader, has a ton of training options, ranging from telephone coaching and a virtual trading room to books and DVDs.
Some of the company’s programs are designed for floor traders at the exchanges who need to learn to trade futures electronically in order to stay competitive, while others work for an average person who wants to get started or who wants to improve his or her trading prowess.
Run by a group of experienced traders, Trader Kingdom offers webinars, live speakers, and coaching services, as well as a lot of free online educational material on futures trading. If you’re considering futures markets, check out the website to see the firm's current offerings.
TradingSchool.com, based in Los Angeles, has a series of online and in-person classes covering trading psychology, as well as trading in stocks, options, financial futures, and currencies. The firm works with day traders, as well as money managers and other long-term investors.
The University of Trading
The University of Trading offers courses in options, equities, foreign exchange, and financial and agricultural commodities online and at its offices in Chicago. Students can hear lectures on different aspects of the markets and have the opportunity to trade alongside experienced instructors. The company trains professional traders, some of whom trade for themselves and some of whom take jobs with others.