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Do you have any advice for a novice day trader/investor?

I'm a non experienced day trader and investor. I'm planning to attend an online investing school that's going to teach me how to trade forex, futures, etc. Where should I start to be a consistent, profitable, successful day trader/investor. The schools I'm planning to attend are Day Trading Academy, School Of Trade, Maverickfx, and Trading Advantage. Do you know if any of these schools are reputable, reliable, and trust worthy? 

Career / Compensation, Investing
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March 2016

First, you should be commended for wanting to learn more about investing. I’m 100% for learning about capital markets, how they work and the principles of investing. While I won’t dissuade you from taking any of the aforementioned courses, I will make a few comments.

Day trading is a highly speculative endeavor that pits you against millions of other market participants seeking to profit from fundamental mispricing’s or technical analysis. In order to be successful you would have to believe that you knew something that millions of others didn’t. For arguments sake, lets suggest that you did. What are the chances that you will be able to act on that information prior to everyone else? News travels in milliseconds and even small mispricing’s can be arbitraged away very quickly.

I don’t have much advice for speculators largely due to the huge amounts of evidence suggesting you’re highly unlikely to outperform the market. Furthermore, even if you did, it would take years to determine whether your efforts were the result of skill or luck.

Lots of charts or data mining systems appear intuitive in hindsight. I tend to be skeptical of any company selling their methodology on becoming a profitable day trader. After all, if they truly had a formula that produced superior results, it would stand to reason that teaching it to others would only diminish its value because everyone would use it.

Happy St. Patty’s Day!

March 2016
March 2016