For those just starting, learning technical analysis from the ground up might seem like a mountain to climb. And rightly so – mastering technical analysis requires years of dedication, focus, patience, and willingness to improve and continuously acquire new skills. However, considering the potential reward, taking on that seemingly challenging road is worth it.
This guide aims to help you turn what seems like an exhausting and long-lasting journey into a positive and engaging experience by listing the different places you can learn technical analysis. You will get familiar with their pros and cons to ease the process of finding the best way to master technical analysis and lay the foundation of a potentially successful career or hobby.
Personality Traits You Will Need to Learn Technical Analysis
Technical analysis is the most widely used market analysis method. Traders specializing in all asset classes rely on technical analysis to predict price behavior. However, this doesn’t mean TA is easy to master. Just the opposite – it is an ever-evolving field. Furthermore, TA isn’t an exact science but rather a game of probabilities where uncertainty is always around the corner. As a result, one should always be willing to learn – whether it is new chart patterns, better risk management strategies, self-control, or the ability to read between the lines of what indicators are signaling.
Aside from this, if you want to become proficient in technical analysis, you should be patient. Remember that Rome wasn’t built in a day. Learning TA is a marathon, not a sprint, and can take years of dedication. Even the best traders worldwide continue to explore new setups or fine-tune their existing strategies, as there is always something that can be improved upon. To make sure you excel at this, you need persistence and determination.
Think of learning technical analysis as working towards a clear career path. The more years pass, the more professional experience you gain due to all the different situations you will fall in and learn from on the go. It is similar with TA – the more time and effort you spend on the training ground, the better prepared you will be for when you enter the markets and start trading your capital.
Note that the best and most effective technical analysis indicators are decades old. So are the best books on the matter. They have both withstood the test of time and are an example that time is the single most important factor – no shortcuts can get you where you want to be and keep you there for the long term.
Places to Learn Technical Analysis and Their Pros and Cons
You can learn technical analysis from several places, including books, online and offline classes, educational websites and broker academies, and even Youtube.
All of these methods have their pros and cons. For example, some are free but lack the needed quality. Others will charge you a high fee and have very strict requirements (which isn’t bad, of course). The last one will be easily accessible and affordable but will require more effort from yourself to organize your time and motivate yourself to build a learning habit.
So, in the end, it all depends on what you are looking for. Here is a list of the possible ways to learn technical analysis alongside their pros and cons to help you find the solution that works best for you.
Platforms like Udemy and Skillshare give you access to thousands of different courses on a wide range of topics. Technical analysis is no exclusion. For a relatively small fee, you can enroll in a course and learn at your own pace. You will get lifetime access and various perks, depending on the particular course offering.
The issue here is that virtually anyone can make such a course. In some niches, the course quality can be really bad, and you might spend your money on something with little-to-no effect. Of course, keeping an eye on the reviews is an excellent way to evaluate a course offering, but they still won’t reveal the complete picture.
- Relatively affordable
- Certificate upon completion
- Learning at your own pace
- Lifetime access to learning material (in most cases)
- The content might not be of the highest quality
- Limited learning time that usually can’t cover much material
- Lacks the practical experience
Educational Programs and Offline Courses
No matter which country you reside in, the chance is there will be at least one academy or institution for trading training that you can reach out to. This type of course is usually a good choice if you want an academic-like experience where you learn alongside fellow students in a classroom. If you have a problem keeping yourself motivated and adhering to a schedule, this option might be a good choice since you won’t have to establish a learning routine yourself but will instead be set one by the lecturers. On-site courses usually are well-organized and will give you knowledge beyond the basics.
If you prefer to stick to online learning and are willing to pay more for quality content, there are professional courses with certificates from renowned organizations as well. You can enroll for a technical analysis trading course from a top-tier institute and ensure the flexibility to learn at your own pace from the comfort of your home.
- High-quality content
- Certificate upon completion
- Better recognition and credibility
- The most expensive option
- Limited practical experience
Trading Communities, Youtube & Online Resources
Fortunately, today, anybody who wants to learn technical analysis for free can do so due to the abundance of available resources. There are lots of Youtube videos from popular technical analysis traders or recordings from trading seminars that you can explore. Trading communities on forums like Reddit are also a gold mine for learning resources, trading ideas, or simply to exchange know-how with fellow TA enthusiasts.
However, there are several issues with such a way of learning. First, it requires days of research to dig out the best and most credible resources. Next, the content won’t be structured. This might make it harder to lay the proper foundation, which is critical in technical analysis. Furthermore, you will have to come up with your own learning schedule and keep yourself accountable for sticking to it.
- Flexible learning
- An infinite amount of content
- Unstructured content and a lack of a clear learning schedule
- Requires lots of research to find good-quality content
- Lacks the practical experience
Educational Websites and Broker Academies
If you have searched the web for an explanation of a financial term or an economics theory, then you are probably already familiar with Investopedia. As its name suggests, the site is the “Wikipedia” of investing. It perfectly blends video and written content to deconstruct complex topics in layman’s terms. Aside from the hundreds of technical analysis-related articles, it also offers a dedicated paid course.
The academies and learning sections in the sites of the leading brokers are another good shout. Packed with lots of valuable content, they can give you a good start with technical analysis and help set a solid foundation for further learning.
- High-quality content
- Well-structured learning experience
- Demo accounts for practical experience
- Courses might be paid (Investopedia) or require an investment account (in the case of brokers)
While many might consider this an old-school method that won’t be efficient for learning TA today, in fact, it is among the best ways to set proper foundations for your technical analysis understanding. If you want to get back to the roots and explore TA from where it all began, there are many great books to start with.
Remember that most of the technical trading indicators were first introduced in books decades ago. This makes them the single, most accurate and unbiased source of information. Furthermore, those concepts have withstood the test of time (since some were published more than 50 years ago) and are among the most reliable learning resources you can find.
The only downside is that some of the books might not be up-to-date with the current market realities, and the concepts laid there might need a bit of adjustment. Of course, there are new editions, but checking their reviews first is essential to ensure you are spending your time on proper learning material.
- One of the most reliable sources of market wisdom
- The most comprehensive way to explore a topic in detail
- Old editions can be expensive
- Lack practical experience
Funded Trader Programs
They give you a structured learning experience that includes a series of videos and guides from seasoned trading veterans. There are also quizzes and exams to give you a fair reflection of your skills and highlight where you can improve further.
What really differentiates funded trader programs as a way to master TA, compared to the other alternatives, is that you can ensure a professional career as a trader. For example, in the case of Earn2Trade’s Trader Career Path, you can receive funding of up to $200,000. This is a shortcut to professional trading since it cuts you the hassle of dealing with paperwork, ensuring the minimum required funds, getting the appropriate licenses and certifications, and more.
Another crucial benefit is that funded trader programs combine theory and practice since they give you access to a demo account where you can apply everything you have learned over the course of the program.
- Professional structured content
- Can get you funding and a professional career
- Combine theory and practice
- Freedom to learn at your own pace
- Have a monthly fee
What is the Best Place to Learn Technical Analysis
The best place to learn technical analysis depends on several factors. Those include your aspirations, available time, budget, preferred way of learning, personality traits, and more.
For those who want to learn for free and can stick to a self-structured learning plan, a combination of online resources (educational websites, trading communities, Youtube videos, etc.) and books will probably be the best option.
Those willing to pay for structured content from a lecturer and be granted a certificate can consider paid online and offline courses.
However, it is worth noting that for a similar price that you will pay with some online or offline courses, you can get access to a funded trader program where you will be able to combine theory and practice. Upon successful completion, you will also receive an offer from a proprietary trading firm to kick-start your professional career.
If you are unsure which is the best place and way to learn technical analysis, here is a table comparing all options:
|Course Platforms||Offline Courses||Free online resources||Books||Funded trader programs|
|Learning at your own pace||✓||X||✓||✓||✓|
|Funded professional career after completion||X||X||X||X||✓|
You can learn technical analysis through books, videos, online guides, and more. However, the best way to do it is through a structured course program where you can learn theory and put it into practice. Funded trader programs are an excellent way to do that since they also ensure a funding offer after successfully completing their evaluation program.
With some learning programs, you can master the fundamentals of technical analysis in as little as two weeks. However, this doesn’t mean your learning experience stops there. This is just where it starts, and becoming a successful technician can take years or decades of continuous self-improvement.
You can start learning technical analysis for free from all of the available internet sources, including free courses, websites, videos, and more. Paid courses can start anywhere from $10 and go up to several thousand based on the program’s specifics and the issuing institution.
Check out Earn2Trade’s Trader Career Path for a trader funding program with a scaling plan.
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