Do You Want to Learn to Trade Stocks? Let the Experts Help You Out!
For some of you, the stock market might seem like an unknown world, where you don’t even know where to start building the foundations for your trading future. We want you to know that it is normal to feel that way. Nobody learned how to do stocks overnight; it takes patience, time, and discipline to learn the rules.
Sometimes trading stocks is compared to a night in a casino: sometimes you win, others you lose, but you will learn something new every time. The important factor here is understanding and practicing the basic skills that will guide you along the way.
This might seem obvious, but the first thing you need to do when you decide to work in this field is to actually learn how to invest in stocks. There are various places where you can learn and be informed about the weekly trading signals. Our favorite is The Oracle on Wilshire. This weekly newsletter summarizes general market activity PLUS specific signals for buying and selling stocks, futures, and funds. What we love the most about it is that you can find real-time recommendations for Strictly Technical Short Term Stock Trades available on a subscription basis.
Once you feel that you know enough to dive into the trading market, you might want to establish the bases of your business and get to know your current investment. We recommend following the next steps:
First, establish your goals. When you know where you are headed, the path gets easier. Whenever you are starting to trade stocks, it is important to establish different factors such as your income level, your short and long-term financial needs, etc. Once you know where you are and the time frame that you have to accomplish your goals, you will see how everything will run smoother.
Don’t be afraid to start the process; this is the moment to realize which assets you can count on and which you are potentially open to losing. Remember that this is an important factor in stocks: sometimes you win, sometimes you lose, and you need to be aware of it.
Then, it is time to create a stable stock portfolio goal. Usually, businesses tend to have between 10-20 stocks portfolios. Keep in mind that the less you have, the easier it will be to handle because you have more time to research, but more stocks also mean more possibilities. Just make sure to go over the categories, and pick the ones that you are comfortable with.
It is also important to get to know your metrics. Let’s be honest, it is the same in almost every business. When you get to know your metrics, you have a clearer vision and a better capacity to make the right decisions.
Make sure to recognize the right terms and use them to your advantage; sometimes these are going to determine the buy or sell decision. Some metrics to keep in mind are: price-to-earnings ratio (P/E ratio), compound annual growth rate (CAGR), and return on equity (ROE).
Last but not least it is important to know where to buy your stocks. There are various ways to buy shares of stocks. Some prefer to do it directly from a broker, and others prefer to buy their own online. We always recommend online platforms since you will save those trade execution fees that brokers usually charge.
If you have any doubt about stocks, you can go to Oracle on Wilshire. Blakeman has been trading profitably for years and he decided to start the weekly Oracle on Wilshire newsletter in 2016 with the goal of helping his friends and colleagues benefit from his extensive market acumen and experience.