3 Best Trading Sites to Go From Complete Beginner to Professional-Level Trader:
There are a number of great online trading sites for beginners to learn from. But instead of providing an exhaustive list of the best ones without explanation, I think the best approach is to show how a select few can take you from complete beginner to professional.
When it comes to trading, everyone starts at the same level – knowing absolutely nothing. So step one is to learn terminology and concepts, and start to acquire some foundational knowledge. From there, you can decide if you want to take it a step further.
That next step is legitimate training and mentorship – the most difficult phase of all. Most traders skip this critical step and pay the price for it. Lousy training (or the lack of training altogether) typically ends up being quite expensive in terms of losses in the market.
The bottom line is that you either pay tuition upfront through a proper training program or you pay tuition to the market for being an untrained, oblivious trader. So if you’re serious about your trading success, then the training phase is no place to cut corners.
Once you’ve acquired the proper mental framework and trading skills for success – that’s when the fun begins. You can now utilize those skills to consistently pull profits out of the market. The great news is that you don’t even need to use your own capital to do so.
Below we’ll dive deeper into the 3 critical steps for going from a beginner to professional – including the best site for each step.
3 Steps and 3 High-Quality Trading Sites – Go From Zero Knowledge to Fully Funded Trader:
Before digging into the details of these three critical steps and resources, I want to point out that becoming a consistently profitable trader is not fast or easy. Following these steps can help streamline the process, but there’s no avoiding the hard work involved.
The practice and training phase alone can take six months or longer. This is a serious endeavor that requires legitimate skills.
STEP 1: Start Building a Foundation of Basic Trading Knowledge – Terminology and Concepts
#1 Recommended Site: Investopedia.com
This first step is essentially a discovery phase to see what trading is all about and to start building a base level of knowledge. In this phase, you begin to learn the differences between trading and investing, what stocks/options/futures are, and much more.
One of the biggest mistakes that beginners make is falling in love with the idea of trading because of the potential rewards it can provide, but not having a true understanding of what it entails. Being focused on the money will actually repel it away from you.
Another huge mistake new traders make is thinking that the information gathered in this phase alone is enough to make them successful traders. But this couldn’t be further from the truth. Understanding terminology and concepts is merely a stepping stone.
Just imagine the process of learning how to play baseball. You start with terms and concepts like glove, bat, strike, ball, etc. But this knowledge alone doesn’t translate to you competing in the major leagues. That requires tons of practice and experience.
This leads us right into the next step. So once you’ve taken the time to learn various terms/concepts and decide that trading is something you want to seriously pursue, then you can move on to step 2 – the practice, training, and skill-building phase.
Helpful Posts/Pages For Additional Support:
- Free Resources For Stock Trading Beginners
- Frequently Asked Trading Questions (FAQs)
- Stock Market Terminology Definitions – Best Free Resources
STEP 2: Find a Strong Training and Mentorship Program in Order to Develop Legitimate Trading Skills
#1 Recommended Site: ThomasKralow.com
At this point, it’s time to not only expand your knowledge, but most importantly – build actual skills. As previously mentioned, knowledge is great, but it’s not what produces successful traders. That knowledge needs to be practically applied and turned into skills.
As much as people want there to be some magical indicator or perfect mathematical equation for trading success – it simply doesn’t exist. Since the market is constantly evolving, you need to develop the framework and tools to be able to change along with it.
There’s no simple pattern or structure that will work without end. Sometimes the market is trending up, sometimes it’s trending down, and sometimes it’s moving sideways. So certain setups and strategies can go in and out of favor depending on the market environment.
To make things even more complicated, specific time frames can be showing conflicting trends – so how do you effectively handle that? For example, the daily chart can be showing an uptrend, the 1 hour chart moving sideways, and the 5 minute in a downtrend.
This is the sort of environment that traders need to appropriately navigate in order to be successful – and the ability to do so requires a number of components: key levels, indicators, risk and money management, tracking statistics, trading psychology, and more.
Helpful Posts/Pages For Additional Support:
- Why Students Pay Up to $20K For Thomas Kralow’s Program
- What is a Trading Simulator – Before You Risk Real Money
- Best Day Trading Mentorship – Top 2 Day Trading Mentors
STEP 3: Use Your Skills to Become a Professional Trader – Earn a Five or Six-Figure Trading Account
#1 Recommended Site: Topstep.com
You always have the option to use your own money, but oftentimes people don’t have enough to realistically trade for a living. Or if not trade for a living, at least make it financially interesting as a supplemental income. A few thousand dollars just isn’t going to cut it.
This is where funded trader programs come into play – providing capital to individuals who can prove that they can effectively generate profits while managing risk. It’s an opportunity for individuals with limited financial means to pursue trading at a serious level.
And even for individuals with the financial means, funded trader programs can still be attractive thanks to the coaching and structure they provide. Many people struggle with self-imposed rules, so the guidelines set by these programs tend to help with discipline.
The typical funded trader program starts with a tryout in a simulated account with specific profit targets and rules (maximum position sizes, maximum daily/weekly losses, etc.). If you follow the rules and hit the profit targets, you earn funding – simple as that.
The only “catch” is that the tryout costs a bit of money (usually around $200 per month) and there’s a profit-split once you get funded – meaning the funding firm keeps a portion of the profits you generate (usually 70% to you, 30% to the funding firm).
Helpful Posts/Pages For Additional Support:
- What is a Funded Trader Program – Earn a $150,000 Account
- What is Topstep Futures – Earn a Funded Futures Account
- How to Day Trade For a Living Starting With $5,000 or Less
All it Takes is 3 of the Best Trading Sites to Help Turn Beginners Into Professionals:
I don’t want to oversimplify the path to becoming a professional trader – because it’s a long and hard process – but the overall route is clear: it starts with foundational knowledge, then legitimate training and mentorship, then leveraging your skills in real markets.
As straightforward as this path is, most prospective traders fail to follow it. From what I’ve seen, the typical path is to acquire some basic knowledge and then jump straight into live markets with real money – which is essentially just gambling.
This kind of surface-level approach is common when it comes to trading and is undoubtedly a major reason why so many traders fail. Alternatively, those who become successful traders are the ones who dig much deeper and develop an uncommon level of depth.
This level of depth isn’t some natural talent or god-given gift. Instead, it’s developed through practice and experience. Nuances that new traders fail to understand are waiting to be discovered. You just have to be willing to devote time and effort to the process.
Overall, the training and mentorship phase is the most important part. And in all reality, the learning never ends. Markets are constantly changing so you have to be able to adapt. Perpetual self-improvement is what makes trading such a satisfying endeavor.
Please share your thoughts and experiences with whatever you consider the best trading sites in the comments section below.
Learn More in the Trading Success Framework Course
Written by Matt Thomas (@MattThomasTP)
- How to Make a Living By Day Trading Stocks
- What is a Trading Guru – Real Educators vs. Marketers
- What is Active Day Trading – Explained in Detail
- Best Swing Trading Sites and Services For Beginners
- What is Training For Trading – Breakdown of Required Skills