Money Investors
  • Money
  • Business
  • Cryptocurrencies
  • Lifestyle
  • Opinion
Subscribe
Money Investors
Money Investors
  • Money
  • Business
  • Cryptocurrencies
  • Lifestyle
  • Opinion
  • Money

Are you a new trader? First steps to be a good trader

  • December 16, 2021 7:41 AM
  • Augus Curtis
New Trader
Total
0
Shares
0
0
0

Do you want to start trading and don’t know where to start? I’m going to tell you (briefly) the first steps I took when I started:

1. I looked for information about what trading is, to know where I was getting:

The financial trading is basically and summarizing much,  buying and selling underlying with the intention of making profits. You can trade currencies (Forex), indices, stocks, raw materials, etc…

The advantage of trading is that you benefit whether the price goes up or down. On the other hand, investing in stocks, for example, you only benefit if the price goes up, if the price goes down, you lose money.

2. I found out how I can open and close operations or trades:

The operations are carried out through a platform. There are many on the market, but one of the best known and most used is Metatrader 4.

3. I looked for how to get the trading platform:

The platform is provided to you by the broker for free. Normally they usually have Metatrader and their own platform, in addition, most brokers allow you to operate through a web platform, that is, without having to download any program.

4. I found out what a broker is:

The broker is the company that acts as an intermediary between you and the market . It is mandatory to operate through a broker, where you will have your account, which you must capitalize with the money you want to invest.

5. I looked for information on the different markets where I can trade:

In trading you can operate in different markets, but I looked for information on the best known such as Forex (currency market), CFD’s (Contracts for difference) and Futures. Each market requires specific knowledge, because although everything can be summed up to buy (BUY) or sell (SELL), each market has its peculiarities, its specific commissions, minimum capital to operate, hours, etc…

6. Then it was time to find out how much money I can start trading with:

The issue of minimum capital is very relative, because in markets such as CFDs or Forex you can open real accounts with up to $20 dollars (it depends on the broker). Now, if you open an account with 20, 100 or 200 dollars do not expect to live from trading in several months (better spend the money buying lottery). Another determining factor in knowing how much money to start with is whether you want to trade for extra money or you want to make trading your profession.

In the first case, if you only want to get extra money, with $2,000 dollars you can already get that extra money every month that you can use for your purchases, for that trip you have pending, to indulge yourself, etc… But if you really want to Live from trading, I recommend starting at least with $5,000 dollars (and from there on up). Even so, you will not be able to live from trading after two days.

7. At this point I started looking for trading courses and buying books:

Before opening an account, neither demo nor real, it is advisable to read books and sign up for a trading course and, once you know what we are talking about and what this is all about, you can now open a demo account at a broker and start trading. practice.

And remember, if you know what you are worth, go and get what you deserve.

Probably wanna read:

  • How does the stock market work?
  • What to do to invest in the stock market and make a profit?
  • How to start investing in stocks if you have little or no experience?
Total
0
Shares
Share 0
Tweet 0
Pin it 0
Augus Curtis

I'm Augus Curtis the founder & editor of Money Investors. I love money, I love to make it and also to invest it. Here I share some ideas about business and money.

Related Topics
  • Investing
  • Investments
  • Money
  • Trader
Editor
Augus Curtis
I'm Augus Curtis the founder & editor of Money Investors. I love money, I love to make…
Featured Posts
  • What is LVMH 1
    What is LVMH: Owner of luxury brands
    • January 15, 2023 6:20 AM
  • Google Business tools 2
    5 Google Apps for your online business
    • December 30, 2022 7:15 AM
  • Wordpress work 3
    10 Advantages of Using WordPress
    • December 30, 2022 6:43 AM
  • Servers hostings 4
    What Operating System to use in my VPS?
    • December 30, 2022 6:26 AM
  • Best Pets For Children 5
    What are the best pets for children?
    • December 26, 2022 7:41 AM
Recent Posts
  • Breeds Dogs
    How the different breeds of dogs arose
    • December 26, 2022 7:20 AM
  • nato-logo-1200x675
    These are the countries that are in NATO
    • December 17, 2022 7:11 AM
  • Biography of Giorgio Armani
    Biography of Giorgio Armani The Founder Of Armani
    • December 5, 2022 11:05 AM
Categories
  • Business (85)
  • Cryptocurrencies (32)
  • Lifestyle (42)
  • Money (99)
  • Opinion (74)
  • Travel (2)

ABOUT:

Money Investors is an economic and financial blog that wants to be a source of development of knowledge of the latest advances in studies related to the economy. Analyzing the various most relevant international opinion sources such as The Wall Street Journal, The Guardian, Market Watch, Market Times, BBC News, The New York Times and El País from Spain, we will provide diverse and eclectic approaches for understanding the economic panorama in depth, with a social and critical perspective of the various market players, as well as the institutions and structures that condition the behavior of these markets.

PRIVACY:

We will never disclose or sell your email address or any of your data from this site. We do highly welcome posts and community interaction, and registering is simply part of the posting system.

DISCLAIMER:

Money investors is an independent, advertiser-supported website and may receive compensation for some links to products and services throughout this website. Opinions expressed on this site are the author’s alone, not those of a third-party entity, and have not been reviewed, approved, or otherwise endorsed. Offers may be subject to change without notice. Money Investors exist to thought provoke and learn from the community. Your decisions are yours alone and we are in no way responsible for your actions. Stay on the righteous path and think long and hard before making any financial transaction! Disclosures.

Money Investors
  • About Us
  • Cookies Policy
  • Privacy Policy
  • DMCA
  • Term Of Use
  • RSS
  • Sitemap
  • Contact
© 2022 Money Investors LLC. A Curtis Times Company. All Rights Reserved.

Input your search keywords and press Enter.

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Do not sell my personal information.
Cookie SettingsAccept
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT