Simple Steps to Become a Stock Trader
This post will cover the basics of getting started to swing or day trade stocks. If you’re completely new and have no clue about the stock market, that’s ok. Following the steps below will help no matter what skill level you’re at.
Learn how to Read Charts. Become a master at reading charts and you will be ahead of many other traders who have been in the game for years. Traders use our roadmap software through technical analysis that reveal different patterns that give us an edge so that we can better manage our risk. To learn how to read and understand roadmap look no further than the person who created it, Tom Busby. He has an extensive library of material online and available on DVD’s and in books. Let this be your first step in learning how to trade! All of Tom’s material can be found at www.dtitrader.com
Don’t move on from step 1 until you have mastered reading charts.
Decide what kind of trader you want to be. This will determine what kind of hardware is required. Part time, full time, swing or day trader? Swing trading can be done with the bare bones of a computer or smartphone. Keep in mind you do need a way to read charts so you can determine your entries and exits. Once you have those you can easily buy and sell through our TBUZ mobile app. Other than that not much would be required. You will be set up for swing and day trading. Day trading is more advanced, and requires a faster computer, multiple screens and high speed internet. For more info on our setup email us today!
If you’re going to be a part-time trader – You could stop where you are and subscribe to our stock alert service that sends alerts to you phone by text. Many people do this in addition to their full time job as a way to make extra money. Let our guru’s do the work for you, send you stocks that we buy and sell and mirror our portfolio.
- If you’re going to be a full-time trader –you can still use the services above to trade and get intraday ideas. They both offer chat rooms with lots of ways to make money. They both offer watch lists in the morning that you can go over and find your own entries and exits which you’ll have no problem doing since you’ve mastered Step 1 above.
Finally, document all of your trades on an excel spreadsheet or in a notebook. Learn where your strengths and weaknesses are over time. This will also help you stay disciplined and stick to your goals.
I hope this gives many of you a simpler picture of what steps to take to get started trading stocks.