It seems the world of investing has taken a brand-new light in recent years, with the rise of digital platforms all but relinquishing the stockbroker ideal to the sidelines in favour of a bolder, more exciting level of control of our finances and investments. Many people are currently in the same boat however, the position of not really knowing how the system even works to begin with, there are countless stock chart trading tutorials littered across the interwebs with very little consistency in their recommendations.
The process has been romanticized by countless movies in the past and usually exemplified with the green ticker sliding across a barren strip of LED lights, a lot of screaming into phones to ‘BUY’ or ‘SELL’ which is usually peppered with expletives and a general sense of angry money. While this is fun to see on the screen, the overall process is not quite Hollywood in its execution.
Stock chart trading is about patience, research, and some stroke of luck in certain aspects – it takes a keen eye and a lot of time to perfect such an artform, and no number of overpriced courses will tell you otherwise. The internet may have its setbacks when it comes to verifiable fact but trudging through and finding the nuggets of wise and sage advice can often mean the difference between the good and the bad stock chart trading tips. These basic foundational principles of stock chart trading are essential for any newbie investor and should always be considered the first line of defense a volatile and unpredictable market.
There’s many who will proclaim that stock chart trading is about injecting as much money as possible into the market to get results faster – there are only so many ways we can say the word no for this. There’s no point bankrupting yourself jumping headfirst into a shallow pool after all – learning by doing is a laudable tactic, and one that is encouraged for anyone getting into stock chart trading.
The trick is doing it in the right way, there are a number of sites that allow new investors to practice their craft with paper stock chart trading, which is essentially simulated without risking any real money and allows new investors to practice the art of buying and selling over time. When you do decide to dip your feet in with enough practice and a good understanding of the fundamentals, start with small investments and incrementally increase in conjunction with your confidence.
Leave Emotions At The Door
We get it, you’re playing with money and having a great old time doing it – it’s a livelihood, a chance to get the latest iPhone, or even a house in Sydney if you make a very large profit. However, focusing purely on the metaphysical instead of the cold hard facts have seen many investors tumble and fall back down to earth with an unceremonious thud. When stock chart trading, always keep a level and logical head, no matter how elated or deflated you may be at a given move.
Set Aside Your Profits
While it’s always been seen to be cool to keep upping the ante with reddit pages like WSB making waves on people pulling a good old fashioned YOLO bet and seeing it all fall apart. If you really want to be serious about stock chart trading, have a secure exit strategy and profit take margin set up. This essentially means that before you even begin investing, you have an ideal number for a share that you will pull profits when you’re up.
It’s a wild and accessible world, going in with a head full of logic and a pocketful of dreams will get you far in stock chart trading.