Posted by forex at 5:26 AM
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1. Research options for opening an online stock trading account. Factors that you will want to consider:
- The amount the company charges per trade
- How long the company has been in business
- Reviews of the online stock trading company.
2. Open your online trading account
3. Research the terminology of online stock trading. Make sure you fully understand terms such as:
-day trading
-penny stocks
-swing trading
-brokerage stock
-options trading
-commodities trading
-short trading
4. If you are brand new, consider opening a virtual online trading account. You can practice online trading without investing real money.
5. DO YOUR COMPANY RESEARCH. This is your most important step. You will want to thoroughly research technical documents and follow research analysis.
6. Be wary of "hot stock tips" without doing full research. Read company reports and company documents to fully understand the management philosophy and the direction the company is looking to take in the future.
7. Strongly consider diversifying your online stock investments. Make sure you are able to spread out your investments.
8. Be realistic. Although your goal is to make money, don't expect huge gains and be prepared to lose any money you invest. Online investing can be risky and you should only invest if you are able to afford to lose what you put in.