Method in learning share trading as a newbie
We all start things at some point. This can also be said for share market trading. A lot of people actually want to engage in this investment, but they’re scared because of all the horrid stories about losing a lot of money or other negative news about it.
Actually, the stock market, although a bit daunting for beginners, is actually a good way to earn a lot of profits. However, it requires careful planning, strategy making, and goal setting for you to get to that point on being the top stock broker.
If you are a beginner and you’re looking for a resource that helps you learn the basics of share trading, then you’ve come to the right article. I will begin by sharing some tips that will help you in your pursuit of greater wealth.
1. Open a Brokerage Account
The very first thing that you need to do to get started in stock market trading is to actually open a brokerage account.
By its definition, a brokerage account is an account that you get when you open it with a stock brokerage agency. You can then add some funds into this account by linking it to your bank.
The stockbroker can then present you with some tools that you can use and they will help guide you through the entire thing.
2. Read Plenty of Books About It
The good thing about stock trading is that there is a wealth of information that you can learn at your convenience. One way of enriching yourself with the right knowledge is by reading books about investment, finance, and about the stock market.
There are plenty of books out there, but here are just some that I can recommend for starters:
- One Up on Wall Street- This book is written by Peter Lynch, one of the renowned gurus in stock trading. This book gives plenty of insight about the stock market so you can better make decisions that will help you get wealthy.
- The Making of an American Capitalist- A book that was written by Warren Buffett, a household name when it comes to investments, he presents some great tips on how you can get started in getting stocks and making it grow for more profits.
- Trade Your Way to Financial Freedom- Written by Van Tharp, this book tells you about the psychology and the usual thinking processes that high-level investors make to become richer.
3. Seek Mentorship
To really help you in your quest to become rich by investing in the stock market, you can seek mentorship from the people who have already been there and done that (or are still continuing to do it).
This mentor can be anyone, but they have to have experience when it comes to the field of successful share trading.
4. Learn from the Best
If you want to be the best, you’ve got to learn from the best. There are already plenty of people who have been quite successful by trading stocks.
Aside from the authors of the books I previously mentioned, you can research some of the most noteworthy investors out there and study how they do things.
Some popular investors include Benjamin Graham, Jesse Livermore, John Templeton, Tudor Jones, just to name a few.
5. Track Your Progress and Keep Yourself Updated
One of the things that successful stock traders do is they keep track of the movements in the stock market. You can head on over at the Wall Street Journal to find out more about the current trends, forecasts, and anything about the stock market’s current happenings.