There’s no time like the present. If you don’t start profiting from the stock market today, when will you make it happen? Knowing which stocks to buy now is easy if you’re following my publications, so you have no excuse for not testing the waters.
Maybe you’re worried about your lack of knowledge. You’re not sure how to get started with the stock market today. That’s not a problem. Following is a detailed guide to help you figure out the process of getting engaged in the stock market.
Open a Retail Brokerage Account
You need a retail brokerage account if you want to buy and sell securities on your own. You can go with a broker you call to make trades on your behalf, but it’s easier to log into your trading platform and do it yourself on the go.
A retail brokerage account lets you track stocks, view charts, and execute trades. You can fund them with as little as $500, depending on the company, though you can also start with larger sums of money.
Accounts that allow you to trade on margin — essentially by borrowing shares of stock from your broker — tend to have higher minimums. You might need to deposit $10,000 into your brokerage account as well as obtain approval from the broker.
Decide What Types of Stocks Interest You
Start paying attention to the stock market. Microcap stops, or stocks that trade at $5 per share or less, are great for day trading if you know how to spot specific patterns or if you subscribe to my publications. Blue chip stocks tend to have the greatest dividends and the least risk, but they don’t pay off for many years.
Knowing what types of stocks interest you will help you to develop a trading strategy so you can profit from the stock market today.
Keep CNBC On in the Background
Another way to prepare yourself to profit from the stock market today is to expose yourself to information about the stock market. It could be CNBC or CNN on the television, a website like Bloomberg, or something else entirely.
When you have down time, research the stock market instead of queuing up the latest episode of your favorite television show. Focus on what the analysts and commentators say about stock prices, the overall stock market, and specific indices.
Set Aside a Reasonable Sum for Trading
You need money to make money. That’s never more true than in the stock market. If you want to profit from the stock market today, you’ll need money in your investment account. As mentioned above, many brokerage firms require a very small initial deposit.
How much you put into your trading account depends on your financial situation and risk tolerance. Don’t bet every penny you have on the stock market. Instead, squirrel away a nest egg meant exclusively for trading.
You can profit from the stock market today if you already have a sum you can contribute to investing. Move it into your shiny new brokerage account and start trading. Just make sure you’ve done your research or subscribed to my publications.
Practice Paper Trading
If you’re not ready to go full-throttle with the stock market today, you can practice through paper trading. This strategy allows you to execute “trades” without actually putting any money into play. It’s kind of like simulation games that prepare you for flying an airplane or operating heavy equipment.
Paper trading won’t let you profit from the stock market today, but it will set you up for future profits. You’ll learn what patterns to look for, better understand your risk tolerance, and gain confidence without having to put your money on the line.
Get to Know Stock Charts
Stock charts are your best friend if you know how to use them. They’re extremely beneficial for predicting future price movements because, as you probably know, history repeats itself. Thousands of stock chart patterns exist, and many investors have developed their own patterns that have worked well for them in the past.
If you’re not willing to immerse yourself in stock charts for a large portion of the day, you can learn what stocks to buy now from my publications. I let you know my best picks for the stock market, which means you’re more likely to profit than if you made even an educated guess.
Know How to Spot Charlatans
If you’re on social media, you’ll run into people who promise to show you exactly how to profit from the stock market today. They’re often lying. These media personalities are paid by companies to pump up their stock prices. The stocks eventually go into free-fall, which means that many people who invested in them lose their cash.
Only pay attention to people who have proven track records and who can show you evidence of their ability to profit from the stock market today. Anyone else could be selling you a con.
Sign Up for Tom Gentile’s Publications
From Money Calendar Alert to Power Profit Trades, my publications provide immense value as well as stock picks on which you can act. If you’re interested in profiting from the stock market today, you’re in luck, because my publications have inspired thousands of people to put money into stocks and profit handsomely.
You’ll learn how to invest in the stock market, which stocks to avoid, and how to build your wealth efficiently over time. My track record is long and illustrious, so my subscribers trust me to deliver educated, handpicked advice about trading in the stock market today.
Sometimes, getting started is the toughest part of embarking upon a new journey. If you’ve been putting off investing in the stock market, today is your chance to break that cycle and dip your toes into the shallow end.
Follow the guide above to get started in the stock market today and to discover which stocks to buy now.