A couple of weeks ago, we received an invitation to attend a trading workshop. My interest was piqued as it was another avenue to earn extra pocket money and possibly attain my goal of being financially independent.
What I was not very confident is my ability to understand and process the trading terms. So, I brought my backup – someone whom I know is not only great with numbers but has a keen interest in trading as well – Hubby Dearest.
First, let me set a premise that we are not advocating trading. As Aaron Yeo, our instructor that day so aptly framed it, “Trading is NOT for everyone.“ More than an aptitude for trading, you should be armed with knowledge of how the markets work and how to trade effectively. That’s what this introductory trading course intends.
The beauty of trading is that it is not bias against gender, race or age. Nor are you confine by time or profession. You can determine how long you want to trade and which markets to trade in. You can make it a full-time job or trade to earn extra cash.
So, with this in mind, let me share my husband’s thoughts on this introductory workshop.
Was the session easy to understand?
The Online Trading Academy presented us with a preview to online trading and what the academy actually offers in terms of strategies and education. Aaron is a professional trader who also conducts the prelude to the academy’s 1-day & 3-day courses where they cover the academy’s nine trading strategies.
Trading tip Alert: The class was an excellent insight into the domain of online trading, primarily because it highlighted shadowing the banks’ trading patterns ie. if you trade like the banks, the chances of you losing money are far less. This is a concept that most other courses do not emphasize. Most other courses educate you on simple technical analysis using candlesticks, and indicators (used to identify price swings).
What are the key concepts you learned?
The course impressed on one of their trading strategies, to identify and point out buying patterns of the banks. Essentially, we do know that large movements in price, either upward or downward, can only be orchestrated by someone with deep pockets, namely banks & hedge funds. Hence, if we mimic these banks and hedge funds, and correctly time the entry & exit into a trade, the probability of a profit is far greater.
Trading Tip Alert: However, one must exercise a great deal of discipline and caution – adhere to the rules and do not chase a trade. If the risk is far greater than the reward, it is better to remain on the sidelines instead of entering into a trade.
The class also identified the size of every trade, based on your entire portfolio – DO NOT invest too much into a single trade, as a mistake could possibly clean out your entire portfolio. And without education of online trading, one could possibly fall into the category of the 85% of retail investors that lose money on trading – a demographic that one doesn’t want to be part of.
How was the instructor?
While Aaron is a very knowledgeable trader, he might have overlooked the fact that some of his audience were newbies and had never been exposed to trading, and would not understand uptrends and downtrends, or candlestick charts (I would be the newbie hubby is referring to). Thus, instead of exciting people on the prospect of making money, he may have actually spooked them due to their inability to understand some things that could have been explained by Aaron quite easily.
However, the course was fully supported by trading trainers (the ones standing in the photo below) who supported the students as they tried their trades for the first time. So if you are lost or need help, they are there to assist. In their courses, you are actually using the academy’s money to do LIVE trades, so the learning is instantaneous.
Would you recommend the class to others?
All in all, the class was quite comprehensive despite the fact that Aaron covered only a single strategy taught by The Online Trading Academy. I believe that the course offers a different perspective to the other ones that I have attended, however, it seems to offer something vital ie. banks’ trading patterns, something other courses have not imparted. This is a crucial element to understanding markets, and I would recommend this course highly to anyone who wants to fortify their arsenal of knowledge and strategies to trade the markets. Nonetheless, it’s a course best suited for people with some prior knowledge of trading and basic candlestick charts.
Special for Universal Scribbles Readers:
If you are keen to attend this one-day Introduction to Trading course, please Register HERE.
The usual fee for the course is $199, however Universal Scribbles readers only pay $59 when you quote this promocode: UniversalScribbles (All fees exclude GST and payment can be made via pay pal or bank transfer (instructions in the linkpage when you sign up).
There is one workshop per month. The NEXT workshop is on 25 August 2017.
The venue is:
Online Trading Academy Singapore
Aperia Mall, #03-09
12 Kallang Avenue
About Online Trading Academy
Online Trading Academy’s roots can be traced back to 1997, as one of the largest trading floors in the U.S., with 180 traders averaging half a billion dollars in daily transactions. To improve results, managers and the top traders offered daily coaching sessions in how to trade more consistently and profitably.
In 2001, Online Trading Academy shifted their focus to solely providing education. Today, the company have a community of over 200,000 investors that have learned to trade with the skill and confidence of professional traders.
Till our next post, love yourself, love one another.