How to Take Day Trading Courses

Day trading and investing in the stock market are diametrically opposed opposites. Investors study the companies they invest in, hold their stocks for several years, hoping they will climb in value and pay long-term capital gain rates when they do. Day traders, however, sit in front of their computers placing orders all day long. They hold their stocks for only a few hours and pay tax on profits at the short-term rate.

Difficulty: Moderate

Instructions

Things You'll Need:

• Community college class schedule

1. Evaluate your own psychology before you decide to take courses in day trading. Day trading is stressful and an expensive, full-time job. You must have the discipline to stick to your trading plan and know when to stop and cut your losses.

2. Research courses you are considering enrolling in. They may not be objective. Make sure that the instructor doesn't profit off any day trading you eventually do and doesn't try to sell you books or automated trading software.

3. Enroll in an Internet day trading course. There are countless courses offered through online universities. Since many of these courses are unregulated, make sure that in addition to instruction, you receive audio and video clips, activities to download and charts to continue and reinforce your education.

4. Take an on-site course. These courses are usually quite expensive, so you'll want to consult with the teacher and seek out reviews of the course to determine whether it's worth the price and delivers on its promises.

5. Review your local community college's class schedule. Some offer classes or seminars on day trading and are much less expensive than commercial courses.

6. Invest in a course that offers comprehensive training in all aspects of day trading. Although trading in the securities market is where most novice traders begin, a complete education shouldn't stop there. A good trading course will include instruction in currency trading (the Forex market), short selling (selling borrowed stock) and playing the futures market (buying and selling commodity contracts for future delivery).

Tips & Warnings

• Beware of promises made by any entity that seem too good to be true. The Massachusetts Securities Division recently brought suit against a company offering a $6,000 day trading course complaining that it used deceptive marketing practices by guaranteeing potential students unlimited earnings potential and a rich and rewarding career. The truth is, while there are people who do make money day trading, it is extremely risky and you can suffer devastating losses.

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