List of the Best Free Trading Resources For Beginners:
The free resources listed below can help you start learning the basics and developing the proper mindset at no cost. These are all high-quality trading platforms, courses, programs, services, and more that I’ve personally used throughout the past ten years.
THOMAS KRALOW TRADING ACADEMY – Top Rated Learning Program For Beginners |Read Full Review|
2NDSKIES TRADING – Top Rated Mindset Training (The Advanced Traders Mindset Course) |Read Full Review|
INVESTORS UNDERGROUND – Top Rated Day and Swing Trading Chat Room |Read Full Review|
TRADE IDEAS – Top Rated Market Intelligence Software |Read Full Review|
- Trade of the Week
- Trading Room
- Quarterly Test Drive (Not Free, But a Low Cost Trial)
BENZINGA PRO – Top Rated Newsfeed For Retail Traders |Read Full Review|
TRADINGSIM – Top Rated Market Simulator and Replay Tool |Read Full Review|
FINVIZ – Top Rated Free Stock Screener |Read Full Review|
TRADING COMPOSURE – Top Rated Trader Mindset-Focused Blog |Read Full Review|
MIND MUSCLES FOR TRADERS – Top Rated Trader Mindset Private Coaching |Read Full Review|
Brokerage Platforms That I Use:
Important Note: Most brokerage platforms now offer free stock trades (no commissions), but that wasn’t always the case. A few years back, the average commission fee would be around $5-10 per trade. So I personally used Robinhood to avoid paying commissions. Now that most brokers have eliminated commission fees, Robinhood has lost a bit of its luster. Since it doesn’t offer many of the analytical tools most other brokers provide, it’s not an ideal platform for day trading. It’s still, however, a clean, simple, and beginner-friendly platform for long-term investing. I currently use E*Trade for short-term trading, and both Robinhood and Ally for long-term investing. These are the only three brokers I’ve used, but there are many more options available out there.
Getting Started on Your Trading Journey With Limited Resources:
It’s easy to get discouraged at the beginning of your stock trading journey thinking that you need tens of thousands of dollars to get started. But you can actually use your seemingly suboptimal circumstances to your advantage. Most new traders jump straight into the market too quickly, overconfident and unprepared, and end up losing large chunks of their portfolios as a result. So your current lack of resources is actually more of a blessing than a curse, since it will allow you to focus on the actions that legitimately matter toward generating consistent profits – developing the proper mindset and a statistical edge.
The vast majority of traders skip these critical initial steps, which explains the low success rate. Those just starting out immediately turn to stock newsletters and alert services hoping for shortcuts to success. Years ago when I was just getting started I did the same thing, so I understand exactly how enticing these services can be. But the reality is that they won’t help you as much as you think. In fact, they’ll hinder your ability to succeed. It’s ironic that the shortcuts most traders take actually end up making their journeys longer and more expensive. So consider yourself lucky to be avoiding that destructive path, and concentrating your efforts on building the core skills and mindset required for long-lasting market success.
Don’t Let a Lack of Capital Stop You From Building Core Mental and Tactical Trading Skills:
These are the resources that have helped me develop into a consistently profitable trader, especially Trading Composure, 2ndSkies Trading, and Mind Muscles For Traders. As a beginner, you tend to get caught up in the limitless world of trading tools – brokerage platforms, market simulators, scanners/screeners, alert services etc. But these tools aren’t the foundation for durable trading success. They can help a little bit, but the true foundation is in training your own mind. Without the right mindset, you’re bound to fail.
Let me ask you a couple questions: how many traders do you personally know that train their minds on a daily basis? Most likely none. And how many traders do you personally know that are consistently profitable? Again, most likely none. The reason over 90% of traders ultimately fail is because over 90% of traders fail to acquire the appropriate mindset. But failure doesn’t have to be your fate if you choose to focus on the proper things. Best of all, you need limited financial means to begin the training process. So if you’re willing to put in the effort to become a successful trader, the resources are available for you to do it.
Here are some links to a handful of Trading Paradigm post categories for additional help:
- Core Trading Principles
- Core Investing Principles
- Trading Composure Reviews
- Mind Muscles For Traders Reviews
- 2ndSkies Trading Reviews
- Thomas Kralow University Grade Trading Education
- Benzinga Pro Stock Market Newsfeed
- Best Book Quotes
Learn the basics, develop core skills, and then put those skills to work in the market!
