Should You Invest in Online Stock Trading Courses?
When it comes to stock trading, the question of whether to invest in online courses or not is a common one. There are two popular answers to this question - one being an obvious promotion, and the other being a more objective assessment aimed at convincing you of the course's quality. In this article, I will provide a blunt and honest perspective to help you make an informed decision.
The Truth Behind Stock Trading Courses
There are two fundamental truths to consider when evaluating online stock trading courses:
Most online courses contain a significant amount of BS content, with only a few having good content. There is no substitute for proper training and consistent learning through practical application.Why Avoid Spending Money on Online Courses?
Challenging Learning Process: Learning from online sources is not easy, and very few people can achieve success through self-study alone. Most online courses assume that you have the time, motivation, and dedication to consistently work through the material without external guidance and support. Available Content for Free: Many of the concepts taught in these courses are readily available for free on the internet. For example, Zerodha Varsity offers a comprehensive curriculum and a wealth of free resources. Additionally, there are numerous YouTube channels and other online resources that cover the same topics, making it unnecessary to pay for these courses. Course Attendance is Not Sufficient: Attending a course, whether online or in person, is not enough to master the skills required for successful stock trading. The most important aspect that people often overlook is the need for consistent practice and application of learned concepts. This involves spending significant time analyzing the market, making predictions, and refining your strategies, which can take months or even years to master.Realistic Expectations and Required Commitment
Even if you find a high-quality course, there are a few key points to consider:
Daily Dedication: To develop meaningful capabilities in stock trading, you need to be willing to dedicate at least two hours every day to analyzing the market and practicing your skills. This should be a consistent commitment for at least six months, with no exceptions. Consistency is crucial in building a strong foundation and gradually improving your skills. Review and Practice: Simply attending a course is not enough. You need to go back home and put in the hours of practice, analyzing charts, making predictions, and refining your logic. Even if you start with a good course, you need to continually practice and review the material you've learned. This process is iterative and ongoing, just like the stock market itself. Example of Failing to Meet Commitments: I have seen many individuals sign up for courses, only to attend a class and then forget about it until the next session, where they start from scratch and struggle with advanced topics they didn't have time to review. This is especially true for dance and yoga classes, where a lack of consistent practice leads to little progress.Conclusion
Investing in an online stock trading course can be a valuable tool if you are committed to the learning process and willing to put in the necessary time and effort. However, it is crucial to understand that attending the course alone is not enough. You need to be dedicated to consistent practice and the iterative process of learning and improvement. If you are willing to make this commitment, then a high-quality course can be a worthwhile investment. If not, you may be better off exploring free resources and building your skills through consistent, structured practice.