Trading Stocks & Shares – Top Tips from a Seasoned Pro

So, you have finally decided to give trading a go; some of your friends make a living trading, with crypto, stocks and shares being the busiest global markets. In this short article, we offer a few tips from a successful day trader on how best to manage online trading of stocks and shares.

• Know the marketplace – You wouldn’t start playing a game of soccer without first understanding the rules of the game; the same goes for the global trading markets. Traders speak a different language, so you will need to learn the many acronyms and terms; this is freely available on the web, along with other resources to educate you.
• Connect with a leading Australian Trading broker – In order to trade shares in Australia, you need to register with a top broker and you can access their secure markets and carry out real-time trading. An established trading broker has everything a newbie needs, and some! After a few weeks of self-learning, set up a demo account to get the feel of trading in real time and when you feel confident, set up a real trading account and develop a strategy.
• Check out the FAQ page – The broker’s website had an FAQ page that is designed to answer all the questions a novice trader might have; they also have reams of tutorial presentations, case studies, reports and papers that you can study at your leisure. Talk to other new traders, while the veterans are always ready to help. A good broker takes pride in their service and they have a 24/7 livechat for their clients.
• Learn the trading terminology – This shouldn’t take long; a few days to cement the many terms into your memory and you have the chance to become familiar with your digital interface by opening a demo account. There’s much to learn and little time in which to learn it, so get organised and hook up with an established trading broker.
• Take things one step at a time – Resist the urge to jump in with both feet; rather start by writing down what you know about trading in general and specifically trading stocks and shares. Then approach your learning in a structured way; discover strategies and how to identify trading goals; learn at your own pace with exclusive access to a mega-huge digital library,
• Loss protection – Stop loss is a very valuable tool for a new trader, as it prevents you from diving into huge losses. We recommend using this to ensure that you don’t overcommit; trade carefully and have patience, which is a virtue. Like anything in life, you can only take out what you put in; life is like a bank account!

So, for all you budding shares traders out there, we really hope that this information is enough to ignite the fire within you to master trading stocks and shares; your broker can help you access 200+ Australian companies where you can buy and sell in real time.