Learn How to Trade Stocks - 3 Simple Keys to Becoming a Successful Trader
We have all heard of people making huge amounts of money from the stock market but
if you've ever traded before, you know yourself that it is not as simple as just buying a stock low and selling it high. Contrary to what a lot of people think, you can make educated trades and not just gamble your money on the markets. So how do you do that? Here are 3 simple keys to becoming a successful trader.Fundamental Analysis
If you are not a technical or numbers person, do not let this scare you. All fundamental analysis means is understanding how different events in the world effect a stock price. Take for instance the airlines industry. During the summer time, there is a massive increase in travel as well as ticket prices. This causes a large increase in revenue and makes the stock appealing to buy. As more people buy, the stock price increases. There are things that can cause it to go down like terrorists alerts or ash clouds which decrease travel and revenue and makes the stock less appealing. This makes perfect since and is known as fundamental analysis.
Technical Analysis
Technical analysis is simple looking at a stocks chart and applying some trends to see what the stock is doing. One such trend is something called a simple moving average. This is one indicator that will help you know when to buy and sell stock. It's very useful and helps you make an educated decision on whether it is a good time to buy or sell. If you tie this into what you know from the fundamental analysis, you are now making more educated trades.
Have a Great Broker
It is very important to have a good broker that you can discuss your trades with. Now you don't want a broker who is only going to promote its clients stock as this isn't always equal advice. You want a brokerage firm that is known for its broker advisory. Your broker has access to information on the company's stock that you want to buy or sell. It could take you days to get this information yourself and then try to understand it. But you broker can have it to you in a very short period of time and give you advice on what to do with that info. Now, with all three of these things, you are well on your way to becoming a successful trader.
Learn How to Trade Stocks - 3 Simple Keys to Becoming a Successful Trader
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