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How to become an Expert Stock trader from Scratch

Posted By On 1/02/2009 08:49:00 PM Under

1. One has to be educated about the stock market aspects to understand the nitty gritties. If required do undertake the help of an expert in stock market field to learn the tricks of the trade. Always try to latch on with a successful trader as success is viral and do take his permission to sit with him during the trading session.

2. Always trade with the money which one can afford to lose. Sya strict no to margin funding till you become an expert trader as only than you can undertake the risk management effectively.

3. As a starter trader one must paper trade and also ensure that you are consistently making money. It is easy to make money paper trading as no emotions is involved. Let Paper trading be used for at least a few weeks before venturing in the market with real money.

4. Do remember to maintain a diary of your trades and analyse the success and failures to derive home the lesson. Try "swing trading" before you shift to day trading. Swing traders hold stocks for several days or weeks; day traders hold stocks for shorter periods, capitalizing on volatility.

5. Do have an account with a broker who is competitive in brokerage and provides you the facility of both offline and online trading facility and can function even in lower bandwidth.

6. Do not follow the crowd and learn to be different and undertake the buying and selling with a reason and trade with an open mind and accept the losses as these are bound to occur.

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