When someone gets interested in Stock Trading they hear of the great stories about people changing their financial status and how much traders can make in a single day, but they do not know where to start. The Stock Market has so much information and as a new trader, this can look like a foreign language. Follow these easy steps to learn how to get started in Stock Trading!
1. Find a Mentor
- DekmarTrades is your #1 go to mentor. DekmarTrades will give live trading commentary every morning, will go into lessons everyday, and not only teach you how to make money in the Stock Market, but how to make it consistently. Join a Free Two Week Trial by clicking here.
2. Study the Stock Market
- If you want to gain knowledge on any field you are interested in, you must be willing to study! The best things to study are books, video lessons, webinars. What you want to do is get yourself familiar with stock trading and learn the fundamentals so you can have a nice foundation to build from.
3. Watch Live Trading
- Watching live trading is very important to learning how to trade stocks. When you watch a professional trader trade, you will see there exact moves and why they buy and sell at the certain areas they do. When you see a live trade for the first time it may seem overwhelming with all the numbers on the Time & Sales, Level II, and the Charts, but this is perfectly normal and means you just need to study up! Imagine if you didnt take these steps and you traded live with real money. It would almost be a waste of money as you would just be giving it away.
4. Paper Trade
- When you have studied fundamentals, watched videos, and think you are ready to trade, it is time to papertrade. Papertrading is trading the Stock Market with fake money. You trade on real time data, but you do not invest any real money. This is extremely important to do as you will practice Buy orders and Sell orders.
5. Save up for an Account
- We recommend you start with at least $1,500 in your trading account. Anything below this you will not be able to buy the necessary shares needed and will most likely lose your money just based on commissions and how hard it would be to grow.
6. Open a Online Brokerage
- TD Ameritrade
- Interactive Brokers
7. Start Real Trading