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Business News of Wednesday, 17 July 2024

Source: Stanley Okpara, Contributor

Top 5 websites for learning online trading: From novice to expert

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In today's digitally connected world, online trading has been made accessible to all and sundry more than ever before. no matter where they may be.

This means that for novices looking to dip their toes into the financial markets or an expert trader seeking to refine buying and selling strategies, there are numerous online learning websites/resources available to help achieve these goals.

This article explores a carefully curated list of five top websites to equip you with the knowledge and skills to confidently participate in the financial markets.

Exness Insights

Exness Insights stands out as a premiere online platform for those seeking to deepen their understanding of market dynamics in other to refine and enhance their trading skills. This resource is particularly beneficial and recommended for online traders who want a blend of theoretical knowledge and practical application of theories in real market situations.

The platform takes a comprehensive approach to delivering trading education by offering resources that cater to both novice traders and experienced professionals.

The emphasis on practical application ensures that traders at all levels can directly implement what they learn in their trading activities. For example, the platform has guides on topics like Fear & Greed index which helps diligent traders gauge sentiments in market movements. It is important in interpreting market emotions which more than often impacts trading decisions.

There is also market analysis which gives insight into data on forex, commodities, and indices in other to help traders stay informed about market trends. This array of articles, videos and educational tutorials in addition to expert opinions help novices get grounded on the fundamentals and dynamics of the market.

Udemy

Udemy as an online trade learning platform offers a vast array of courses which is where it strength lies. Whether you a a complete beginner or someone with some basic knowledge, so long as you want to get better with your trading strategy, Udemy has courses that will cater to your needs.

Their courses are carefully created by independent instructors to ensure the depth and variety of its coverage. Learners have access to read reviews and see previews of the available courses before deciding to take on any one of them.

A big advantage Udemy has which makes it a choice destination for traders is in the flexibility of the course structure. Online trading courses on Udemy can be self-paced.

Thus they allow you to learn at your convenience without the pressure of having to meet tight deadlines. A novice who starts at the introductory stage with courses like "Stock Market for Beginners" or "Forex Trading A-Z" can comfortably cover the scope and basics of online trading terminologies.

Having grasped this, the novice can progress to studying various financial instruments such as stocks, bonds, forex, and cryptocurrencies by identifying their trends, and basic technical indicators (e.g., Moving Averages, RSI). At the expert level, there are courses on coding trading algorithms, advanced risk management, etc.

Coursera

Coursera is an online trading platform that partners with many universities and financial industry heads to provide well-structured academic online trading courses. On the online platform, there are multi-course specializations and unique professional certificates that allow traders to explore a more comprehensive learning path.

With an interactive learning platform, beginner traders will never get lost in the plethora of courses offered by the platform.

For novices, one of the best courses to start with is "Financial Markets" by Yale University. It provides a detailed overview of how the market works. At the intermediate stage, some courses dive deeper into analyzing company financials, economic indicators, and valuation techniques similar to those regularly analyzed by Exness Insights.

Behavioural finance and trading psychology are part of the course content here before progressing to mastering specific markets such as options, futures, forex, or commodities trading and real-world application of principles and strategies.

Babypips

Is a newbie-welcoming online trading education platform that focuses primarily on foreign exchange trading and cryptocurrency markets. The platform is a people's favourite due to its engaging, and easy-to-understand content. It is also popular for the fact that all educational resources on BabyPips are free.

This makes it highly accessible for anyone interested in learning about online trading. Its structured learning programme is delivered through the "School of Pipsology" designed to groom newbies into professional traders. There are fun and engaging quizzes, illustrations, and practical examples to help reinforce learning.

For a quick overview, the pathway to transitioning as a professional online trader through BabyPips covers learning the basic concepts and understanding various trading strategies like scalping, day trading, swing trading, and position trading.

Advanced courses centred on algorithmic trading and developing specialized trading strategies are offered at the expert level of training. In addition to all of these, Babytip's active community provides additional support and learning opportunities to all those who may need them.

TradingView

TradingView offers more than just learning resources for online traders testing the waters. It is a comprehensive platform with tools that help traders analyze market movements, share trading ideas and implement profit-yielding strategies. It does not stop here, traders on the platform are granted access to real-time and historical data from multiple markets to enable them to make informed trading decisions.

On the community platform, traders can publish their trading ideas, follow other traders and engage in insightful discussions from a diverse range of perspectives. TradingView is also integrated with various brokers which allow users to trade directly from the platform. This is of course immensely beneficial and can be useful for applying learned strategies in real time.

In Conclusion

Online trading is vast and dynamic but there is no shortcut in transitioning from a novice online trader to an expert. By Learning and leveraging any of these platforms, novice traders can thoroughly develop their market skills and requisite knowledge needed to succeed in the financial markets.