“How to become a stock trader?”
You aren’t alone with that question in the head. More people are now actively looking for more sources of income. Many of them have got their eyes on stock trading.
Now generally, for anyone starting in the game, it’s recommended to enroll in the good stock trading courses to learn fast, efficiently, and in a more systematic manner. After all, you can read all about positional trading indicators but having an expert explain it to you with personalized and practical examples is much more rewarding; the latter is faster and more rewarding.
In fact, to make an argument for stock trading courses, we have even published a couple of articles. Please give these two a quick read:
But then we get it…
You don’t want to spend money on any stock trading course. And that’s okay!
You can still learn stock trading. You can learn that for free and quickly.
But here’s a thing: It’s not going to be easy and it requires you to work harder.
Here are 5 tips to learn stock trading quickly and for free:
1. Find a few reliable and relevant websites
This is essential. Instead of Googling every time and ending on any website whose reputation (and intent) could be debated, it’s a good idea to already have a few sources to get your news, information, and guidance from.
So, spend some time to find websites that have what you’re looking for; websites that are reputed and reliable.
Depending on your needs, you might have to choose more than a few websites.
So, take your time to create a go-to list of relevant websites that you can trust and rely on for ‘everything stock trading’.
2. Find a few stock market experts
Just picking some websites isn’t adequate. While you can get your information from there, you need people with faces to understand the information. You need people to guide you through confusion. You need people to answer your questions.
Besides, one of the best ways to make profitable trades is to listen to what successful traders are saying but look at what they are doing.
So, do some research to find good stock trading experts. And then follow them everywhere. Follow their blog, follow them on LinkedIn; sign up to their newsletters.
Listen to what they are saying, understand what they are advising, and look at what they are doing.
Having someone like a role model or mentor who you can look up to can be a great guidance for your journey as a stock trader.
3. Read (more) articles, watch (more) videos
This goes without saying…
Like we mentioned earlier, it’s going to take a lot of hard work. You have to be a proactive learner rather than being passive about the whole process.
Prioritize your daily learning sessions.
Read more articles from reliable sources. Consume more guides.
Watching videos from trusted experts.
The more you learn, the better you will become at stock trading.
So, have a proper plan as to what you have to learn and how you’re going to progress your knowledge and skills. Become better every day than you were yesterday.
4. Look at the market
You can only read so many articles and watch so many videos. In the end, the stock market is quite dynamic. It barely follows any rule. So, clinging to the theories alone is a bad idea.
Dive into the market and look at things first-hand. Read the charts, implement the technical analysis you have learned by now, analyze the newer trends.
In fact, if you’re financially able, you should even consider trading with a small sum. This will expose you to the real-life setups and challenges, which will exponentially boost your growth as a stock trader.
So, in short, don’t just look at it from afar. Look at the market closely. And if possible, even jump in the market and play the game firsthand. You will learn a lot.
5. Understand that there’s no such thing as “quick”
Okay, this might come as something disappointing for many… But this is the most fundamental truth.
You cannot become an expert stock trader – and build a high-worth portfolio – quickly. It takes a lot of time and effort.
Moreover, to get to the top, the path packs plenty of losses as well. You gain experience with losses. So, if you are to get better at stock trading, you’re going to have to go through many losses. And this process will take time. It would take you time to get better at it.
So, you sure want to know how to become a stock trader quickly but there’s no such thing as quick.
Have realistic expectations from your efforts and time in learning. You will progressively get better at stock trading. The more experience you gain, the more money you will make.
Start the process today
Sure, it’s not easy. But to learn how to become stock trader is fairly straightforward. The most important part of the process is to learn how to make successful trades.
Self-learning, on the back of consistency and hard work, can be rewarding.
So, if you don’t want to enroll in the stock trading courses, there still are ways.
The above-mentioned 5 tips will position you on the right path. How good you get at it – and what kind of portfolio you building – again, depends primarily on your hard work. So, start your learning process today and get good at stock trading with DIY measures.