How to Learn Technicals & Fundamentals in Stocks Day Trading
Since the late 1990s self-directed stock trading has grown in popularity. Done correctly day trading can be a good way to earn a living from home. But don't be fooled into thinking it's easy. As with any profession, you need lots of training to become successful. A good understanding of both technicals and fundamentals should be acquired before you put your money at risk.
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Instructions
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Take a course. There are hundreds of courses where you can learn day trading. A good place to find courses is at Traders Library. This has one of the largest online selections of stock trading courses, software and books available.
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Find reviews. Once you have picked a course, you will want to how others have rated it. A place to start is EliteTrader.com. This is the largest trading forum online and is host to tens of thousands of professional and amateur traders. You will find hundreds of reviews of brokers, trading software, trading services and courses. There are no affiliate links allowed, so you will be getting mostly unbiased opinions.
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Get a simulator. While studying and reading is fine to start, trading is learned by doing. To this end you will want to get a simulator like the free one available at Investopedia (see Resources below). This will allow you to trade in a very real environment while not risking any money. You should trade in a simulator until you can consistently make money.
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Learn from a chat room. Once you are finished with the simulator you may want to continue your education in a live chat room. A few that you might consider are Millenium Traders, Page Trader and the Trading Zone. These rooms have moderators who are professional traders who will call out trades in real time, and all you have to do is follow along. During the dull times they also usually answer questions, and during non-market hours they often conduct seminars.
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References
- Photo Credit stock market analysis screenshot image by .shock from Fotolia.com
