WHAT IS ONLINE TRADING AND HOW TO LIVE FROM IT?
Online Trading attracts thousands of people willing to make money on the stock market every year. However, 95% of traders lose money in the market. What are the keys to online trading? How can we place ourselves with guarantees among the 5% winners? Discover the fundamental bases to be a good trader from the hand of thinkers that feed your investing and personal mentality: Lorenzo Serratosa, José Iván García, Robert Greene, and others.
WHAT IS ONLINE TRADING?
“Trading is nothing more than trading, buying, and selling.” Today we are talking about online trading and foreign exchanges, which consists of following up on clear investment strategies and followed with self-control, discipline, and knowledge applied to the field of financial markets online.
WHAT ARE THE FUNDAMENTAL DISCIPLINES FOR OPERATING WELL IN TRADING?
In my opinion, there are certain fundamental disciplines that must be mastered to make good use of trading in foreign exchange and stocks trading:
- Technical analysis.
- Fundamental analysis.
- Deep knowledge of the market.
- Psycho-trading.
- Money management.
- Continuous training: Be teachable by another person (coaching) or, be self-taught (better if these two modalities are combined).
THE BEST ONLINE PLATFORMS TO INVEST IN THE ONLINE MARKET
Today, there are many platforms on the internet with which you could trade on the stock market at any time and from anywhere. Here are some of the most important:
AvaTrade
It has a super simple and intuitive design. It is the best known option of those that I put here, and you should consider it for its great design and the possibilities that it offers.
They have a very good customer service, with an online chat to answer to any question at any time.
The best part is that you can start trading with only $100.
It is easy to work with cryptocurrencies such as Bitcoin, Etherum, or Litecoin, which is one of my favourite options at AvaTrade.
eToro
This is another of the most famous platforms on the internet to invest in the stock market, and it has an excellent reputation. It also has a very simple interface, so you do not need to be an expert to operate with the most famous assets in the market.
It includes a very interesting social function in which users can interact with each other and see each other’s rating, which increases or decreases depending on the effectiveness of their investments, so you can copy the operations of other expert users.
Plus500
If you like football, you may have seen their advertising with Atlético Madrid.
It is one of the most famous platforms of all and one of the pioneers.
Risk Warning: You should never invest money that you cannot afford to lose.
8 KEYS TO BEING A SUCCESSFUL TRADER AND TRIUMPHING IN THE ONLINE MARKET:
- Approach reading books and manuals on the subject to understand if this topic interests you.
- Point out everything that is not understood in the books and look for resources that show you more on the subject, such as monetary management, psycho-trading, technical analysis, etc.
- If the subject really interests you, you should find a school that will train you. This school cannot disappear from your life once you have paid for the course or the monthly stay in your area. Forming profitable traders requires:
- Follow-up by mail and access to the phone.
- A community of students.
- Have several teachers to see their different styles of operation.
- The most important: This support service cannot end until the trader goes from basic + advanced training + specific strategies.
- No hurry, since we all do not have the same rhythm or the same family obligations. That is why we must take the path of training as vitally important and arm ourselves with patience.
- Do not open real accounts in brokers without having done a simulation with the method or system learned in the school chosen by you. You must first know what kind of traders you are, what method you are going to use, and in which market you are going to operate: foreign exchange, indices, stocks trading, and all forms of online trading.
- When you are a profitable trader, you do not have an account with only one broker; you have several, because not all of them make the same financial instruments, and quality and commission is of great importance to be profitable. Remember that brokers earn commissions on your operations; the higher they are, the less you have left.
- Do not open simulators if nobody has taught you how to trade.
- The brokers want you to open accounts with real money as soon as possible; hence, their “demos” have a very short duration. His interest is to take you to the real market as soon as possible.
