How to get in the game of Trading ?

Highlights:

• Learning how to trade in the financial markets begins with educating yourself on how to read the financial markets through the use of charts and price action.
• To decipher price action, use technical analysis in conjunction with fundamental analysis.
• Practice makes perfect, or at the very least, it allows the novice trader to test out the theories before committing any real money to them.

Step 1. How to open a trading account

Open a brokerage account with a good online broker. It’s not a bad idea to have a separate professional trading account, even if you already have a personal account. Familiarize yourself with the account interface and use the free trading tools and research available only to customers. Virtual trading is offered by a number of brokers. To help you find the right broker, some sites, including Dei Funded, offer online broker reviews.

Step 2. Learn how to read the market: A Market Crash Course

 Financial articles, books on the stock market, tutorials on Web sites, etc. There’s a wealth of information out there. Much of it is inexpensive to access. It’s important not to focus too narrowly on one aspect of the trading game. Instead, you should study everything about the market, including ideas and concepts that you don’t feel are particularly relevant at this time. Trading is a journey. It often ends at a destination that is not anticipated at the start. Even when you think you know exactly where you’re going, your broad and detailed market background will come in handy again and again.

Step 3. Learn to Analyze the Market

 Fundamental analysis is a good way to identify trends and potential profits, but it can be very misleading when it comes to price action. You should also study the multiple time frames of price charts to learn how they work. Although company spreadsheets can provide you with a trading edge, they won’t help you survive the first year of trading.

Through technical analysis and charts, you can now predict the future price of a security. It’s a magical concept that allows investors to see how a certain asset will perform. However, it’s also not always possible to predict what will happen to a stock price. For instance, prices can chop sideways in a volatile manner or violently change their direction.

The time horizon is very important at this point in time. Financial markets often grind out ranges and trends with fractal properties, which can generate price movements that are independent of each other. For instance, an index or security can create a long-term up trend, an intermediate downtrend, or a short-term trading band. This means that most opportunities will unfold due to the interactions between these periods.

Step 4. Learn to trade

 Traders need to coexist peacefully with the twin emotions of greed and fear. Paper trading doesn’t engage these emotions, which can only be experienced through actual profit and loss. In fact, this psychological aspect forces more first-year players out of the game than bad decision-making. Your baby steps forward as a new trader need to recognize this challenge and address remaining issues with money and self-worth