While learning the basics of stock market trading new investors should take their first step to have full access different sources of quality education. One of main advantage of stock market trading lies in fact that the game we play lasts a lifetime period. What investor does here is they still uses strategies that had used twenty year ago. they have years to develop their skills. that means the game of stock market trading will always in full force.
So for the New People in This game we are offering 10 basic best ways to trade stocks
1) Opening A Stock Broker Account
We need to find a good stock broker online and open an account. we need to get used to with the layout and to take benefits of free stock trading tips tools. some of the online broker offers which offers virtual trading account which has a advantage because we can trade with play money.
2) Reading Books
The Next steps towards learning is Books, They Offer a huge best information and are less expensive than seminar and classes. We recommended the all in one and Favourite book How to make money in stocks by William O'Neil, Author is founder of CANSLIM Trading.
3) Reading article
Article here is best resource of Education. By reading related article which is available free of cost online you can get wealth of information and achieve the success.
we Recommended to read article for investment education available on tradingtips.com and another evergreen way is Google search.
4) Finding A Mentor
A Mentor can be a Friend, family member, co-worker that has basics fundamental understanding of stock market trading. A best mentor will provide help regarding useful resources and willing to answer questions whenever the stock market gets tough. History shows that all successful investors have had a good mentor during their early days of learning.
Another way to get answers is forums. We recommended to use Elite trader and Trade2win. make sure you are listening to legal one. Majority of Forum member participating are not a professional trader. leave alone form profitable trader.
5) Learn From Successful Investors
Learning from successful professional trader will offer inspiration, perceptive and appreciation of stock market trading, The list of great active trader included Warren Buffets, Jesse Livermore, George Soros, Benjamin Graham, Peter
Lynch, John Templeton. you can get all related article regarding stock market for specific trader online
6)Read and Follow The Market
The best resource for investors are new sites like yahoo finance and Google finance. for depth knowledge go with wall street journal and Bloomberg. by regularly monitoring stock market and reading news headlines stories traders can expose themselves to trends. Technical analysis of stock and by observing fundamentals data also serve as a other source of learning.
Other than this, TV is also a way to regularly monitor the stock market each day, CNBC is the bet and Popular one channel. 15 Minutes in A Day can be added advantage to gain knowledge about current stock market.
7) Paid Subscription
Having Paid Subscription to most of the resources can be useful and educational. Some traders may decide to watch and observe stock market to be more beneficial than applying for newly learned lesions themselves. there are many paid Subscription sites available across the web the main is thing is find best and unique one. one of them and we recommended is tradingtips.com
8) Attending Seminar and Classes
Seminars can also be a good resource to get valuable insights from the whole market, most of the seminars focuses on particular aspects of the market and how the speaker has found the success by using their own strategy from past years. Some Seminar are free which can also have beneficial experience.
9) Get your First stock
With your broker account setup, try to make your fist trade don't afraid to start with small budget even 1, 10, 20 shares will serve its purpose of getting you in game. One of the greatest mistake investors makes is to go all in and try to get more benefit. this is common and painful mistake and new investors suffers big loss early at the start of the game.
10) Follow Warren Buffet
Warren buffet the biggest investors of all time recommends to use passive index instead of trying to beat the stock market trading on their own. If you are interested to see how to trade stock like warren buffet see how blog How to trade stock like warren buffet.
These amazing trading tips will make sure you never look at it the same way again:
- Work on your skills: Although ‘trading’ is not something that you can actually master, over a period of time you can always get better by doing it consistently. Your intuition, decision-making abilities and skills in terms of trading need to be sharpened to make the most of trading opportunities.
- Work on being a patient trader: The stock market will not touch the skies the minute you start dealing. Understand that large companies (or even small ones for that matter) didn’t achieve success in the market overnight. Making sure you go at it consistently and being patient will increase your chances nevertheless.
- Make sure your price targets are set high: Determining the level of profit that is acceptable to you as well as maintaining a stop-loss level is crucial. By keeping your targets set high, you eliminate chances of potential losses. This will also keep you determined as you progress higher on the ladder.
- Keep a little ‘risk money’ aside: Although you may have plenty to shell out at the moment or even vice versa, making it a decision to keep aside that small sum for emergencies. This is helpful when the markets suddenly fall and you may not have that much capital when it does. Also, do not touch this sum unless you are in dire need of it. You’ll thank yourself for this later!
- Don’t be too hard on yourself: Successful trading can be only learned with experience that comes by, of course, trading. Do not question your actions if you do not do well. Instead, measure and evaluate your decision and make sure you do not go by that path again. In such a competitive industry, it means a lot to be positive, learn consistently and be determined to move forward with every chance you get.