Trading is a financial activity many can do digitally, conveniently, and remotely. There are many trading types people can choose from today. One of the most popular ones is forex trading. Since the Internet became inclusive, it has become easier for many to learn how to trade forex and access trading platforms, software, and brokers.

But even though forex trading has become accessible, being successful with your trading is not a walk in the park. Many people have disappointing trading journeys because they enter the market before understanding. Many gamble with their trades and leave the outcome to fate.

You must first learn and understand its nature to earn money from trading. There are many courses you can take to learn those. In this post, let’s look at what courses you can try before trading.

1 - Statistics

Investopedia defines statistics as the branch of applied mathematics that involves the collection, description, analysis, and inference of conclusions from quantitative data. In secondary and higher education, statistics is part of their curriculums to help students learn how to interpret data, analyse charts, and come up with answers based on statistical facts.

Even though you won’t have to conduct surveys when trading, you’ll encounter many charts, data, and numbers. Learning more about statistics will help you analyse your trading data better and practise referring to past data and evidence in your trading decisions.

2 - Economics

Economics plays an essential role in the performance of the commodities you trade. A country’s GDP, import and export rate, and news affect you as a trader. Every rise and fall in the currency rate relates to the country’s economy. 

If you want to learn more about how a country’s economy affects your trading, taking a course about it would be helpful. Aside from that, you’ll also learn about supply and demand, taxation, international trade, interest rates, monetary policy, and other critical matters relevant to trading and your daily life.

3 - Applied mathematics

Math is challenging for many people, but you can learn it with persistence. A course in applied mathematics would help you understand differential calculus, programming, mathematical and statistical software applications and logical reasoning.

Learning applied mathematics allows traders to improve their analysis and pattern recognition skills, which can help predict market trends. As a trader, having the skill to predict market trends is essential in making trading decisions that are beneficial today–and in the future.

4 - Computer science

When you take a course in computer science, you’ll learn further about artificial intelligence, computer systems, networks, security, database systems, human-computer interaction, numerical analysis, coding, and more. One of the reasons some are hesitant to start trading is because of its interface complexity.

If you’re new to charts and software systems, it can be intimidating to use forex trading platforms. But with the help of computer science, it will be easier for you to feel confident in navigating trading platforms and understanding how software works. On top of that, you can gain helpful analytical skills that are useful in trading and life. 

5 -  Business administration

Another course you can take that will be helpful for your trading is business administration. If you want to learn about many topics in one course, business administration can help. It covers business concepts relating to accounting, finance, management, and marketing. 

It’s a reliable course refresher, especially if you want to start your own business someday. You’ll hone your trading skills and learn about other critical concepts you encounter daily.

6 - Psychology

Last but not least, Psychology. Psychology is the study of the human mind and behaviour. Traders use “trading psychology” to refer to a trader’s self-awareness, emotional regulation, risk management, discipline, and resilience. Since trading is a highly volatile market, traders will experience making decisions that could affect their trades negatively.

Because of that, traders must know themselves and understand that the market can change in an instant. A course in Psychology could help you control your emotions and be aware of cognitive biases. This course will impact your decision-making process, performance, and overall success in trading for the better.

Any course would be helpful if you apply it to your trading activities.

Aside from the six courses I shared, there are other courses you can take that may stir your interest more. You can take any course because learning is beneficial, regardless of the topic. Any field can be significant in your trading activities if you apply them wisely. 

Written by Bianca Banda