Friday 19 September 2008
Stock Trading Systems – Finding the right stock trading system can free you forever!
Most stock market for dummies guides will leave you penniless and frustrated, but you can easily avoid this fate. With the right guide to the stock market basics, you can quickly grow a small personal amount of savings into a quickly snowballing personal fortune. The reason for the failure of many stock market for dummies guides is that they only teach you which shares to buy. This is only about 30% of the battle for investment success. A good stock trading system should take novice investors and traders from knowing absolutely nothing about the stock markets to knowing enough to make a decent return. You need an overview of the whole picture. Understanding the stock market is simple a combination of risk control, knowing what to buy, you also must know how to control risk, when to use leverage to multiply your gains and know when to sell and when to get out of the markets and into cash. Many traders and investors are looking for the magic bullet – the stock trading system that will free them from work, worry and toil. It does exist, and it isn’t the big secret that many traders might imagine. There are stock trading systems out there which will help any trader in understanding the stock market. Now, that may not seem like you will get rich from it, but if you factor in that these high performing systems are momentum trading systems, then you will understand, if you are familiar with stock investing, that you are able to use leverage with these types of stock trading systems. That means that a $1000 investment can become over $140,000 in 8 years! Stock market for dummies guides rarely make this type of distinction.
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We’re going to break down stock trading training for beginners so it doesn’t seem scary. One of the first things you need to do when you start out is to pick a good broker. A stock broker is going to be where you do all your business. Picking one that has large commissions and fees can be detrimental to a beginner.
An important second step is going to be learning how to read a stock chart. The stock chart holds all of the clues to which direction the stock is going to move. Watch our ThinkOrSwim video on charts setup.
Another great resource for learning to read a chart is stockcharts.com. They have a chart school for any questions that you might have. Charts can look like Greek when you’re starting out. The more you look at a chart, the more you’ll understand it and be able to predict trends.
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