Steps To Buy Stocks For Your Personal Portfolio
Many people don't take the time to find out the steps to buy stocks before getting started in the investing world. Big mistake!
Since you are here reading this, congratulations, you are ahead of the majority who aren't, and of those who jump right in and start investing and lose most of their hard earned money.
This page will introduce you to some of the basic steps to buy stocks and should only be considered a starting point of an important part of your education.
Some of you may be saying, "Not more education....". For those of you saying that, yes, more education. Without it in the investing world you will most likely fail, or lose an awful lot of money trying to learn the hard way.
Here are some steps to buy stocks to consider learning more about. Be aware that these are not necessarily in any particluar order, as I feel they all should be understood when starting out:
- Begin by learning as much as you can before using real money. This website has been designed exactly for that reason, to help you learn about stock trading.
- Develop some type of trading plan with entry, exit and risk management rules to follow.
- Learn about the different types of trading/investing so you can see the choices that are available and see what fits your personal situation.
- Consider using a Simulated Trading Account to get some stock trading experience without risking money.
- Before placing any trades, do research on stocks using things such as technical analysis and fundamental analysis which will entail learning about things such as stock screeners, stock charts and financial reports among other things.
- You can learn the process of placing the actual trade with my example page and by using your Simulated Trading Account as well as once you open your brokerage account. The brokerage firm will have instructions and tips to use their product and you can always ask general questions through my contact form as well.
- Learn to use risk and money management techniques to help minimize any losses that you have. Everyone has losses, the people that are successful are the one's who learn how to minimize these losses and maximize the winners.
- Learn to keep a written journal of your trades whether they are short term trades or long term investments.
- Make sure you use small amounts of money when starting out until you gain some experience and feel comfortable with your trading.
- Open an account at an online brokerage firm to save you some money on commissions.
- You can use a full service brokerage firm if you decide that you would rather have a hands off approach.
Thoughout this website you will find what I feel is some great information to help you get started as well as when you have some experience.
The goal of this website is to help you, the individual trader and investor, by providing as much of what I have learned myself in a centralized location.
If you are looking for something in particular besides the above steps to buy stocks, you are more than welcome to contact me and let me know what's on your mind.
In addition to this page, take a look at the following pages I have added to help you get started and continue your learning experience:
- Beginner Stock Market Investing
- Stock Market Basics
- What's New
- Keep up to date with my Free Stock Trading Ezine which includes tips and lessons on a regular basis.