THE TRAINING MENTIONED BELOW IS FOR TRAINING THAT YOU CAN PAY FOR IF YOU CAN'T TEACH YOURSELF
Tradewise is our dedicated trader education resource for anyone wanting to learn more about trading CFDs.
The Tradewise programme runs for two weeks and is designed to guide you through your first steps in CFD trading. All Tradewell members receive the indispensable Tradewell guide: a 100+ page educational pack comprising seven module PDFs delivered by email over the Tradewell course ora hard copy can be collected.
To help build your confidence as you learn more about CFD trading, the Tradewell programme also gives you a structured set of reduced minimum deal sizes. As you progress through the course your minimum gradually increases, up to our standard size at the end of the two weeks.
WE TEACH YOU TO
Set up your accounts
Trade online using web based software
Connect with research and trading services
Plan and research trades carefully and thoroughly
Comply with regulations issues and tax requirements
Leverage limited capital
Cope with the stress quick-action trading
Sell short to profit from price drops
Evaluate your day-trading performance
Use technical and fundamental analysis
Find entry and exit points
Use short-term trading to establish a long-term portfolio
MAKING LOTS OF MONEY
is the obvious goal of most people who decide to enter the world of trading. How successful you become as a trader depends on how well you use the tools, gather the needed information, and interpret what you’ve got. You need to develop the discipline to apply all that you know about trading toward developing a winning trading strategy.
Discovering how to avoid getting caught up in the emotional aspects of trading — the highs of a win and the lows of a loss — is key to developing a profitable trading style. Trading is a business and needs to be approached with the same logic you’d apply in your approach to any other business decision. Setting goals, researching your options, planning and implementing your strategies, and assessing your success are just as important for trading as they are for any other business venture.
In this training, we help you traverse these hurdles, and at the same time, we introduce you to the world of trading. We give you an overview of trading and an introduction to the tools you need, the research skills you must use, and the basics of developing all this information into a successful trading strategy.
MANAGING YOUR MONEY
Managing your trades so that you don’t lose a bunch of money is critical. Although we can’t guarantee that you’ll never lose money, we can provide you with useful strategies for minimizing your losses and getting out before your stock portfolio takes a huge hit. The key is knowing when to hold ’em and when to fold ’em, and we cover that in great detail.
BUT IT'S NOT GAMBLING
One of the biggest knocks on trading is that it’s just another form of gambling. And as everyone knows, or should know: In gambling, the odds always favor the house.
In day trading, the odds are even in many markets. The options and futures markets, for example, are zero-sum markets with as many winners as losers, but those markets also include people looking to hedge risk and who thus have lower profit expectations than do day traders.
The stock market has the potential for more winning trades than losing trades, especially over the long run, so it’s not a zero-sum market. The odds are ever-so-slightly in the trader’s favor.
And in all markets, the prepared and disciplined trader can do better than the frantic, naïve trader. That’s not the case when gambling, because no matter how prepared the gambler is, the casino has the upper hand.
People with gambling problems sometimes turn to day trading as a socially acceptable way to feed their addiction. If you know you have a gambling problem or suspect you are at risk, it’s probably not a good idea to take up day trading. Day traders who are closet gamblers tend to make bad trades and have trouble setting limits and closing out at the end of the day.
REMEMBER: HAVE FUN
Although you are without question considering the work of a trader for the money you can make, you need to enjoy the game of trading. If you find that you’re having trouble sleeping at night because of the risks you’re taking, then trading may not be worth all the heartache. You may need to put off your decision to enter the world of trading until you’re more comfortable with the risks or until you’ve designed a system that better accommodates your risk tolerance.
SO YOU STILL WANT TO BE A TRADER
Remember, making a losing trade doesn’t mean that you’re a loser. Even the most experienced traders must at times face losses. The key to successful trading is knowing when to get out before your portfolio takes a serious hit. On the other side of that coin, you also need to know how to get out when you’re in a winning or profitable position. When you’re trying to ride a trend all the way to the top, it sometimes starts bottoming out so fast that you lose some or possibly even all of your profits, causing you to end up in a losing position.
Trading is a skill that takes time to develop and is perfected only after you make mistakes and celebrate successes. Enjoy the roller coaster ride!
