We study the online dynamics of learning in fully connected soft committee machines in the student-teacher scenario. The locally optimal modulation function, which determines the learning algorithm, is obtained from a variational argument in such a manner as to maximise the average generalisation error decay per example. Simulations results for the resulting algorithm are presented for a few cases. The symmetric phase plateaux are found to be vastly reduced in comparison to those found when online backpropagation algorithms are used. A discussion of the implementation of these ideas as practical algorithms is given.Key words: neural networks, generalisation, backpropagation, learning algorithms . PACS. #: 87.10.e+10, 05.90.+m, 64.60.Cn Learning how learning occurs in artificial systems has caught the attention of the Statistical Mechanics community in the last decade. This interest was ignited by several reasons, among them, the invention of efficient learning-from-examples methods such as backpropagation, that permit learning in computationally complex machines, to the realisation that ideas from disordered systems, in particular spin glasses, could be applied to the study of attractor as well as feedforward neural networks and to the generalised interest in complex systems with rugged energy landscapes.The main results from the Statistical Mechanics (see e.g. [1-3] ) approach have almost invariantly been obtained in the thermodynamic limit and have benefited from the powerful techniques used to calculate the averages over the disorder introduced by the random nature of the examples.Among several possible approaches to machine learning, online learning [4] has been the subject of an intense research effort due to several factors. In this scheme, examples are used only once, thereby avoiding the need for expensive memory resources, typical of offline methods. This, however, doesn't translate necessarily into poor performance since efficient methods can be devised that have performance comparable to the memory based ones. Furthermore, learning sequentially from single examples has a greater biological flavor than offline processing. While efficiency, computational economy and biological relevance may be the most relevant factors, the theoretical possibility of rather complete analytical studies has also played an important role. If each one of these factors is, by itself, sufficiently important to make online learning an attractive scheme, together they combine to give a most compelling argument for its thorough study.In this letter we present results of the optimisation of online supervised learning in a model consisting of a fully connected multilayer feedforward neural network, in what has become known as the student-teacher scenario. The type of result we present here brings together two separate lines of research that have been recently pursued by several groups.The study of online backpropagation as put forward by Biehl and Schwarze [5] and later developed in [6,7] has permitted the analytical understand...