Australia’s own fully moderated Futures Day Trading Room has gone live. The award-winning International Day Trading Academy has recently launched its members-only day trading room here in Australia. The trading room provides traders of any levels with a fully supported online trading environment to start their trading and accelerate their trading journey. The live trading room represents the cutting edge of education in Australia and is firmly supported by a fully interactive trader communication platform allowing traders to network and trade together.
Risk versus Reward
The Head Trainer and Trading System Architect of the International Day Trading Academy, Lachlan Elsworth, says “having this live trading room established means traders get the support they need, when they need it, and that is when they are live trading. For many, the live trading room is an essential stepping stone in transitioning from learning, to observing, to taking their own trades. As such, our intent is that we develop independently successful traders – and we seek to hold their hands every step of the way.”
“I would argue that almost any business venture, be it a coffee shop, a property development, or a shop front retail outlet, has two risks, the risk of making money and the risk of losing money. Trading is no different.
To be very good at trading, students must seek to limit their losses, let their profits run, and follow the IDTA System very closely. The entire system is built around active risk control and this is why it trades so well”.
“I think it is fair to say that a moderated live trading room can assist new traders a great deal in understanding trading and what they need to do to copy the trades verbatim. The ‘LTR’ does not however alleviate the need for a solid foundation and education in day trading first,” stresses Elsworth.
“The quality of the training program traders choose and the learning they can get from it makes the very foundation of their trading success, so it is important that each student chooses the right learning program that suits them first”.
Trading Education Programs
There are different learning styles that appeal to each of us and for people that have not been in active learning for some time (often since university or early on in their careers) stepping into an intense course can often be challenging. This makes it even the more relevant to choose your program well and be aware of your particular learning needs and the attention you require from your trainer in order to succeed.
This is where the programs offered at the International Day Trading Academy differ from many other programs on the basis of being selfpaced, individually supported, and take a holistic learning approach. Firstly, they have scaled the courses into three levels, the 101 Beginner, 102 Intermediate and 103 Platinum 5 Day Residential for more serious traders.
Regardless of the education level chosen, there are additional weekly and fortnightly mentoring sessions included as part of each program to offer students the support exactly where they need it, making it stand well apart from many of the self-reliant study courses available on the market.
The Academy’s founding team has realised that trading well is essentially a by-product of discipline, patience and confidence in the strategy they teach, which makes part of the core elements of their program. These ‘3 Key’s to IDTA Trading Competence’ are the very reasons they have opened the IDTA Live Trading Room.
Going by the flow of positive feedback already received from many of their students, the International Day Trading Academy is treading a very different path with their training programs. Clients value training on the psychology behind trading, their relationship with money and how a healthy and aware approach to life in general also has its baring on how they will tend to behave as a trader. The IDTA programs are facilitated by co-founders Lachlan Elsworth and Cameron Buchanan. Lachlan has over 7 years experience in private trading, risk control, trading system architecture and high performance trading psychology. Lachlan now speaks internationally on all aspects of Day Trading and was recently appointed as a Senior Advisor to one of Malaysia’s fastest growing Broking Firms.
To balance the team, Cameron Buchanan has over 20 years of business management and property development experience. Cameron is a systems expert, who now spends his time perfecting the art of trading and perfecting the systems that are required to support a very quickly expanding international business.
“People from all over the world want the same thing. They are looking to be independent of a boss, and a job, and they seek to live life on their terms. Leverage is becoming the flavour of the month and in my opinion, trading offers a potentially very powerful solution.” Buchanan says.
While the live trading room is a natural progression from the different levels of IDTA training programs on offer, it is also accessible for students of other learning programs and experienced traders alike. The new IDTA trading room is intended to set the standard for live market commentary in South East Asia, allowing it to be an essential building block toward fully independent and confident trading. As Buchanan asks: “Professional sports people all over the world use regular coaching and also observe other professional in their profession, so why wouldn’t traders do the same?”
In making this important point, he asks us to reflect on the bigger picture. “If people treated their trading journey with the same attitude as professional sports people, they would be making use of all the tools available to them to improve their game.”
“Be under no illusion, trading is no longer the game it used to be. Many people may not realise that there is very heavy market regulation and government controls in the Futures Markets worldwide. This means that trading has morphed into a genuine skills based vocation that is open to anyone in the world that seeks to be excellent at trading. Risk control is now king, and if you are keen to be very good at this, and you want to trade a market that is not manipulated by brokers, you need to give very serious consideration to trading Futures over any other form of trading” says Buchanan.
Mr Buchanan makes a valid point here. “All too often, traders rush into unregulated forms of trading based on marketing hype written by people who do not trade. This is a big problem in Australia but it is getting better. Potential traders are wising up to the fact that trading is not a get rich quick scheme and that trading well involves three careful steps namely education, practice and training”. Buchanan adds, “with the time it takes to educate and train up on essential skills varying from one person to the next, taking the opportunity to watch professional traders at their art is a priceless education opportunity. Being able to peak over the shoulder of a master at work, until you feel confident to do it yourself, is one of the founding intents of the Live Trading Room.”
The Team at the International Day Trading Academy have decided to open the doors to their live trading room in order for traders of any level to experience the benefits of this supportive environment first hand. While memberships to trading rooms can generally be quiet costly, IDTA’s Live Trading Room Membership starts at just $348 per month for 101 Course members. This includes Live Trading Room Access, Weekly Live Market Coaching, Trading Indicators and the IDTA Support Team.
For anyone curious about the Live Trading Room and what it is like to be an IDTA Trader, simply visit the IDTA Website www.idta.com.au and register to attend one of the monthly Live Trading Introduction Webinars.