Online stock trading has become so popular that most Singapore Forex traders choose stocks as their trading instruments. Online stock trading is a very simple and effective way to manage your capital. Unlike the classical trading via a stock exchange, online trading provides a faster and more comfortable trading process. Also it is very important to notice that a growing popularity of online trading platforms, the brokerage services have become significantly cheaper.
Every Singapore trader, at the beginning of his or her investment career, wants to how to trade stocks online. Today internet provides you with unlimited opportunities to learn everything you need. You can easily learn and earn online with a help of your computer and internet from the comfort of your home. For that reason most traders are choosing online stock trading, because it is so convenient and easy. But how to trade stocks online if you have never did it before?
Follow these 5 steps to start trading stocks online:
- Join a broker that offers a vast variety of stocks.
- Fund your trading account
- Analyze different stocks and choose the ones that have the biggest potential.
- Invest into your favorite stocks.
When you start trading stocks online and practice you will quickly understand how to trade stocks. Keep on trading even with little money in the beginning to feel the market and gain trading experience. Later you will learn to pick up the best stocks quickly and easily.
Here are 7 rules for successful stock trading:
- What you need to do in the beginning is to learn how to trade stocks. Study some theory about the stock market and online trading. Learning financial terms and trading basics will make you feel more confident in financial trading.
- Define your investment goal. Don’t try to catch up everything. Choose a single direction or just a few stocks that you will watch closely and study information about them.
- Do not forget to keep track of the micro and macro economic situation in the world, especially those countries related to your stocks. Always stay up to date with coming financial events and news. A stock trader must have a habit of regularly visiting websites that provide stock news and forecasts. Like MarketWatch.com for example.
- If this is your first time in stock trading, you can start from trading stocks on a demo account. Starting trading stocks without a bit of experience and knowledge on a real account is meaningless. Practice on a demo account first and develop your trading strategy without risking any of your money. Once your stock trading is getting better, you can safely move to your real account.
- After you have learned about stock trading and practiced it on a demo account this is the time to look for a good broker. Your stock trading success depends on the broker you choose. When looking for a broker, check its reviews and testimonials. Your broker must have a good reputation and regulation.
- Make sure that your broker offers a big variety of stocks and a good trading platform with all necessary trading features: good charting, comfortable interface, real time quotes, etc.
- The hardest thing in online stock trading is to control your emotions. Over time it will be easier for you to put your feelings aside when trading stocks online.
Stock trading is a great way to let your money work for you and increase your capital. The best way to start trading stocks is joining the broker eToro. They offer about 50 stocks and have the best trading conditions: free demo account, professional support, a learning center, fast withdrawals and social trading features.
Remember your trading success depends on a broker you choose.