With the amount of trading education, online trading tutorials, day trading indicators, trading mentors, schools, academies almost popping up daily it’s a wonder how someone keeps up to date with what comes out. It’s even harder to filter out the good from the bad (mostly bad). How does someone keep up with everything.
One way is to watch webinars every week. There are plenty to go around. And make sure they are from a trusted source like Ninja Ecosystems for example.
As for how to differentiate which is a good trading room, method, or mentor . . . well that comes with experience and feel. But there are certain things to look for when searching for the best online trading education.
- Make sure that the trading mentor, education, and/or room offers some type of free trial. Let’s face it. You never buy a car before trying it. Why should a trading room or day trading system be any different.
- Look for a properly kept track record. Now this one could be a bit tricky. Unfortunately a lot of people (maybe more than 90%) fake these results and there’s not much you can do about that. That’s where the free trial comes in and helps. You can’t fake live trade room sessions.
- It's also good if the leading trader/educator has some sort of accreditation or certification. For example the CMT (Chartered Market Technician) is one such prestigious accreditation that shows that the mentor is very serious about keeping up to speed with the most recent developments in the area of technical analysis.
- Make sure you are able to easily reach the company and its staff prior to joining or buying anything. For example, at Trader Institute, the head trader and all moderators are easily reachable through email, Skype, and personal phone number.
- You should also be able to speak with other students and members as reference prior to joining or buying any trading program. Never feel forced into buying or joining a program. Ask a lot of questions about how the trading is conducted..
- Look for traders that understand how to properly manage the risk. This is an important area of trading and can make the difference for making it as a trader.
- Some rooms and educators are not geared to beginners. They assume that you have a very large account and know how to execute the trades. This is not always the case therefore you need to make sure they take trade that areas suitable to small accounts..
- Make sure that they offer some type of guarantee. If the product is solid, this shouldn’t even be a question but it’s always good to have this peace of mind.
In conclusion you are basically looking for transparency. The more transparent the people you are dealing with, the comfortable you will feel in making your decision.