What to trade?
There are different types of financial markets that you can trade. You can trade the stock market, forex, futures, options, derivatives, hedge funds and so on.
How to trade online?
Before you can trade, you will have to open an account with a stock broker or forex broker if you choose to trade forex. There are full service stock brokers and discount stock brokers. The price differences is huge if you are a small trader ($5,000 – $100,000). With easy access to the internet, I suggest you to go with discount online stock brokers. Click here to get a list of stock brokers that I recommended.
After you open an account with a stock broker, then you will have to add funds to your account through direct deposit or other methods.
Each stock broker offers a different trading platform, you should spend some time learning their tools and take advantage of their tools. If you are a stock market beginner, then you should paper trade for a few months before you actually begin trading. Some stock broker like OptionsHouse offer a virtual trading platform that allows you to trade with fake money and practice your trading skill. I highly recommend you do that.
Stock Market Education?
Please keep in mind, trading is a business, and you need to have a business plan in order to be successful in trading. There is one tool that will help you trade better no matter what markets you choose to trade. That tool is called technical analysis. It is not hard to learn, but you will have to spend some time play around with it and test your trading skills before you actually begin trading. In fact, technical analysis is not really tool, it is a type of study that traders developed to predict the short term price movement of a stock. You can also study fundamental analysis if you are into long term trading in the stock or the forex market.
Free Stock, Forex, Options Market Resources
Here are some stock, forex and options resources (articles & videos) that you can check out.
6 Things Consistently Successful Traders Have in Common
5 Minute Primer on the Options Greeks
