Risk warning CFDs are complex instruments. 74–89% of retail investor accounts lose money when trading CFDs.

Module 0 — Before You Trade

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About Course

Module 0 has 17 lessons and must be passed before Module 1. Each lesson has four parts: Explanation, Key points, Try it and Sources. Every fact is linked to a regulator, a peer-reviewed or working paper, or a book in the course library. When no trustworthy source gives a number, the lesson says so instead of guessing.

Main sources for this module

  • Regulators: the U.S. SEC’s Investor.gov, FINRA and ESMA.
  • Research: Chague, De-Losso and Giovannetti, Day Trading for a Living? (2020); Barber, Lee, Liu and Odean, The Cross-Section of Speculator Skill (2014).
  • Book: Mark Douglas, Trading in the Zone (2000), Chapter 2.
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Course Content

Part 1 — Personal readiness

  • Lesson 0.1 — Money you should never trade with
  • Lesson 0.2 — What “risk capital” means
  • Lesson 0.3 — Pay off high-interest debt first
  • Lesson 0.4 — How much time trading takes
  • Lesson 0.5 — Your goals decide your path

Part 2 — Realistic expectations

Part 3 — Math primer
The statistics definitions in this part follow Introductory Statistics 2e from OpenStax, a free, peer-reviewed open textbook. All the worked numbers below were calculated for this course and can be checked with a calculator.

Module quiz and sources

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