One of the best advantages of learning to trade is that the skills can last a lifetime. Experienced traders often say that it takes years to become a good trader.
Often it is difficult for new traders to know where to start. Here’s 10 steps that you can explore further to help you get started in the exciting and rewarding business of trading!
1. Open a broking account – Find a reasonably prices online stock broker and open an account.
2. Read trading books – Start out reading good trading books before you spend a lot of money on expensive courses.
3. Read articles – Articles are a great resource to learn more about trading.
4. Find a coach or mentor – A good mentor is willing to answer questions, provide help, recommend useful resources and keep you focused, especially when trading gets tough.
5. Follow the market – By monitoring the markets and reading headline stories investors can expose themselves to trends, big picture economic concepts, general business and other analysis.
6. Study great traders – Studying how great investors trade can give you insights into the traits, habits and experiences that all successful traders demonstrate.
7. Consider paid subscriptions – Take advantage of the great value research and analysis you get from a subscription to Trading Edge Dynamics.
8. Go to seminars – Once you have learned a reasonable amount about trading from reading and watching how others trade you could consider going to seminars.
9. Enter your first trade – After you have developed your own trading plan with your own set of rules it is time to take the plunge and make your first trade.
10. Follow a proven system – For the majority of traders, unfortunately trading will be a difficult game to master so following an experienced traders trades can be a great way to improve your chances of success.
At Trading Edge Dynamics our proven trading system and trading platform including our unique Trade Alerts and access to the Editor’s Select Trade setups are a great way to get started in trading. If you would like to learn more, sign up for a free 14 day free trial.