Online platforms such as Smart Money Company, ComSec and IG Markets have made trading stocks, shares, options and foreign exchange so much easier for anyone with an online trading account.
Gone are the days from the classic Wall Street movies where investors had to dial up on the phone and wait to see if their trade went through at the right price. Thanks to the CHESS system and online trading, you can trade markets around the world almost instantaneously with the power of the web.
So, with all that access to information, real-time data and the potential to invest at the press of a button, it is imperative to ensure you get the right share trading course to ensure you kick off your trading on the right foot and with all the education you need to get the best results.
In many situations’ ignorance is bliss, however, when it comes to share trading, trading options, FX or just about anything on the money markets, nothing could be further from the truth.
Education is the key
Regardless of whether you are looking to play around with shares on the side, set up a nest egg for a rainy day or you want to give day-trading a go, you need to understand what you are doing, what you are looking for and what you are looking to achieve – it’s like riding a bike, you can’t jump on and start doing it without first understanding what you need to do.
Choosing the best education provider and program for your needs can be far from simple, like with anything, you need to be careful who and how you choose.
How you want to learn
We all learn differently, some people want to be in a one-on-one teaching situation, while others are quite happy working through an online course themselves – the key is to pick the right situation for yourself, not the institution.
No one understands you better than you, as such it is important before you select your share trading course you work out the format. The key formats for share trading courses are:
- Online – Self-paced
- Online – Facilitated
- One-on-one courses (day/night/weekend)
- Workshops (day/night/weekend)
- Lectures (day/night/weekend)
It is vital that you pick a course format that suits you and your commitments, be it family, work, social life as you want to ensure you complete your course and you stay on track for completion.
The level of course
You can do anything from an online course through to a master’s degree in share trading, so it is important when you are looking for a share trading course, that you select the learning format and the type of course that suits your particular needs.
If you are just looking to learn a new skill, then a diploma is not necessary, however, if you are looking to get into a new career, then potentially it or a bachelor’s degree may be what you are looking for.
Ensuring that your institution has a good reputation, that there are ‘real’ client testimonials on their website or even speaking with one or two if you have the chance is always a great way to dip your toe in the water.
Even better, when you are looking for a share trading course, if you have the opportunity to attend a seminar run by the institution to review what is on offer, speak to the facilitators and ‘kick the tyres’ a little more, then you will find that you can get a lot more for your money.
Key share trading course elements
You should always be provided with a course-work guide, which should provide you with the essential learning outcomes, what you can expect to walk away with concerning knowledge, tangible outcomes and references and tools that you can revert back to later.
It is essential that you get to understand the basics such as:
- The ASX 200
- What are shares, CFD’s, options
- How to buy and sell shares
- Bull vs. bear
- How to read & understand the financial papers
- How to read & understand financial charts
- How to set your portfolio up for your individual needs
Although these could be considered the basics, it is vital that you get these rights to set yourself the best foundation to build your journey into buying, selling, investing, trading and prospering like never before.
What are the next steps?
The next step is to continue what you are doing, research. Then as previously suggested, it is an excellent opportunity to ‘dip your toe in the water’ with companies that are prepared to open their doors up and provide a free seminar or open day so you can check out the organisation and their program.
As previously mentioned, once you have selected the type of course and the format of delivery, then it is time to sign up and get started. Sometimes the first step in your investment journey is the hardest, once you get going, for some people it becomes a life-long obsession.
It is vital to remember that with share trading or trading of any kind there can be an upside; however, there are also risks involved. As any course that is worth your time & money will tell you, never invest more than you can afford to lose.
For any information about share trading courses, CFD courses, charting courses, SMSF administration or investment platforms, speak to the team at Smart Money Company today or register for one our upcoming education evenings in Brisbane to find out more about how you can make a lifelong habit of investment, knowledge and financial security for you and your loved ones.