Online Trading - The Fastest Way To Make Money
Last month when my friend and I planned to go out for a party
, I opened my wallet to see how much money I was left with. But unfortunately, since it was month end, I could find only $4 in my wallet. Eventually, I decided not to go out. When I told my friend the reason, he said, Dude, dont worry about the money. Ill take care of that. We worked for the same company though, got relatively the same salary; I was wondering how was it that he always seemed to have money. When I asked him the reason for that, he opened his laptop and showed me the secrets behind it. He was into online trading and was generating oodles of money from that. The most interesting fact is that he was spending only a couple of hours every day. I asked him to teach me something about trading and he showed me some graphs that I couldnt understand. Later, he mailed me a few links and notes for my reference. As I started learning the fundamental details of online trading, I was really amazed and wondered how much money one can make by trading shares. I also came to know that stock market has created multiple multi-billionaires in the past. Let me give a rundown of what information Ive gathered about share trading over the past few days.Trading is something with which you can multiply your money within a few days; nevertheless, if you are lucky enough it may happen at the blink of the eye too. Having said that, Ive to admit trading can get you into deep trouble if you dont do it with proper knowledge or guidance. Trading involves buying and selling of shares, currencies and commodities. Share trading entails buying and selling of shares of different companies. Shares are also traded in contracts. Commodity market entails the buying and selling of metals, bullions, agricultural products and crude oil in standardized contracts. In FOREX or currency trading, selective currencies are traded based on their economical and political stability and demand. The eight most traded currencies are the US dollar, the euro, the British Pound, the Swiss franc, the Canadian dollar, the New Zealand dollar, the Japanese yen and the Australian dollar. Currencies are generally traded in pairs.
Although share trading involves a great amount of risk, it solely depends up on the traders ability to make profits from the market. Everyday, market is subject to fluctuations depending upon global factors. Its always good to make use of the fluctuations and make profits as the worlds richest investor Warren Buffet once pointed out, Look at market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it. Its also important that you have a slow and steady approach to trading. Warren Buffet says, I don't look to jump over 7-foot bars: I look around for 1-foot bars that I can step over. The mantra of many legendary investors is, buy when the stock is low and sell it when it is high.
A decade back, people who wanted to buy or sell shares had to call up their brokers and ask them to place orders and the brokers would charge them some commission for executing the process. This process was very slow and arduous, and people found it very difficult. But with the rise of Internet, things have gone through a sea change. The introduction of online trading was welcomed by both hands by traders and investors from all over the world. With the kind of convenience that online trading offers, you can easily buy or sell shares from the comfort of your home at the click of the mouse button. You can use any of the popular internet services like the Time Warner Internet to carry out your trades. Another notable thing is that, with online trading, stocks are instantly delivered to your Demat account. A Demat account is where your shares are held in an electronic form. By trading on your own, you have the full freedom and privilege to trade on whichever stock you may wish to. Thus you will not have to succumb to the misguidance of greedy brokers. Moreover you are able to buy and sell shares instantly which help you to save a lot of time as opposed to calling up your broker and executing the trade. With a market of great fluctuation, a single second can save you a lot of money. These days, stock broking firms have also come up with advanced software for trading. The software comes with technical indicators and studies, which help you to determine the entry and exit point of stocks.
Stock trading is a lucrative opportunity to make wonderful money irrespective of whether you are a day trader or a long term investor. However Id advice new traders to do a course on trading or do it under the guidance of an experienced trader and learn the intricacies of stock trading before they start making huge investments.
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