The biggest advantage with stock trading is that it is a lifetime game. This means that even if you fail to get it during your first trial, you can always try again and again until you establish yourself. There are also people who opt for stock picks service to handle their investments in share market. In this article, I take you through the basic steps of how to become a professional stock trader.
1. Acquire a Stock Broker Account.
You cannot claim to be a professional stock trader if you do not have a stock broker account. By finding the right online stock broker account, you open yourself to new opportunities. You will familiarise with how the various stock trading tools operate and you can easily tell when to make your moves.
2. Read Stock Trading Related Books.
As compared to going to class, attending seminars and purchasing educational DVDs, reading books provide you with an inexpensive method of acquiring knowledge. You can find the best stock trading books and you can tell that they are legit depending on what other readers have to say about them.
3. Read Stock Trading Related Articles.
Apart from books, you can gain additional knowledge by reading stock trading related articles. To get these articles, you can search them on Google or visit reputable websites such as StockTrader.com where you will find plenty of articles on the matter. What is more is that the articles are categorized into different sections for progressive reading.
4. Find Yourself a Mentor
Finding a mentor in the field of stock trading is also a wonderful idea. This mentor can be anybody from a friend to a family member or a professor who has vast stock trading knowledge. Some of the qualities of a good mentor include willingness to answer questions, can recommend useful learning resources and can cope with any situation in the market. It is important to note that every successful stock trader had a mentor at some point.
5. Learn from the Veterans
Apart from finding a mentor, you can always learn from the greats and figure out how they made it to the top positions. Finding out the stories of various greats will inspire, motivate and help you change your perspective towards different issues affecting stock trading. Some of the greats include Warren Buffet, Jesse Livermore, Benjamin Graham, and George Soros.
6. Make Observations
While it is true that finding a mentor and learning from the greats help you become a pro stock trader, it is also true that you need to make your own observations. By learning the various trends in the market, you might come up with a unique idea that will put you high up above the rest. Being distinct is another way of making it as a pro stock trader.…