Thinking about getting started in stock trading? Get expert advice from Schaeffer’s Investment Research.
Stock trading can be a risky business, but like riding a bike, with some practice, patience, discipline, and trial and error, it is possible to become successful and profitable in this type of investment practice.
However, Schaeffer’s Investment Research wants individuals to understand that investing in and trading stocks is more about getting rich slowly as opposed to getting rich overnight. This is very important for beginners to understand. Time and commitment will also be necessary.
Step One: Open a Stock Trading Account
To get started, Schaeffer’s Investment Research says individuals will need to open a trading account with a broker who they feel that they can trust. Find one with a wide range of features, tools, and educational resources.
Step Two: Set a Firm Budget
Next, a budget must be set. This budget needs to firm. It is imperative that individuals do not use any money that is needed from their household budget, such as for the mortgage, utility bills, emergencies, etc.
Step Three: Perform Research with Schaeffer’s Investment Research
Third, individuals must take the time to learn the fundamentals of the stock market and trading in general. Decisions can be made by reviewing historical market data and stock prices, evaluating a company by looking over its financial statements, or a combination of both. Our website has free newsletters and paid subscriptions that can help you get started. Ideally, the more individuals can learn, the more individuals can broaden their knowledge base.
Step Four: Practice, Practice, Practice
Then, individuals should practice with a simulator. This will allow individuals to put to use what they have learned thus far without putting any money on the line. It is a low-stakes environment, but it allows individuals to see how the stock market works.
Step Five: Plan and Start the First Trade
Finally, it is time to start planning the first trade. It is important for individuals to take into consideration both their skill and risk levels as well as their overall goals. Be prepared to give the stock some attention. Remember that success is never promised in the game of stock trading. However, with the proper time commitment, discipline, and patience, success can be achieved.
Schaeffer’s Investment Research is among the industry’s leading investment research firms. Compared to the competition, the firm is well-known for giving its customers a trading edge. The firm has a very innovative approach to the market, helping them stay on top of the latest fundamental and technical trading trends. This is one of the many reasons traders turn to them for trade market news throughout the day.
While the founder, Bernie Schaeffer, has won numerous awards over the years and made frequent media appearances, the firm’s website continues to be a subscriber-favorite and has been named a favorite by Forbes.