Hello, I've been looking through and reading about trading stocks. I want to know how do I even start to do stocks. All the reading left me confused and I don't want to start blindly and rely on luck. Sorry if this is like a taboo question, but huge thanks to anyone who will help me.
Step 1... Well open an account, deposit money you can afford to lose at first for sure, find some charts, get trading!! Step 2... Try to enter and ride trends ignore Support and Resistance, Trend trumps all! Step 3... Learn to make a profit, that's where it gets tricky!! Discuss Stage 3 in about a years time, enjoy!!
(Mercilessly plagiarized from another thread.....) You need to find out 1) what types of things you wish to trade 2) what types of timeframes you wish to hold 3) whether you are IN-VESTING (putting assets close-to-heart), or truly TRADING (defined holding conditions where being vested is not really a criterion). When you get that idea going: Here's a how-to-start checklist: -- be patient; cycle in; keep cash; No Free Lunch: reward follows risk. -- bracket-trade; insure reward*reward% > risk*risk% -- Telescope: know the news; know the market; know the underlying YoY,MoM,DoD,HoH -- T/A: Know price; know volume; know trend; know oscillations; long wicks = weak trends. That's it!
What kinda money do you want to trade with? Day trade quick in and out if 25k+ for usa stocks Swing trading 2-10 day holds Investor trading, as long as it takes
I'm only 20 so I wouldn't have much of money that i can have. I was thinking of using $1000-$1200 to dedicate to trading. Sorry, I'm extremely green in this...
Find a cheap broker local to your country not enough to day trade with, Forex of your in the usa is your cheap daytrade route.