The interest in the stock market has gone through the roof as the COVID-19 pandemic fueled a lot of people to look for alternate ways to make money and create wealth. The stock market and stocks have caught the eye of millions of people who want to try their hand at picking the best stocks and winning big. Every day thousands of new traders start trading stocks. While very few learn the basics, continue learning, and start making money, many usually give up in their journey and fail miserably. There are a lot of new interested individuals who are curious about trading stocks and want to make it big in the stock market.
Perry Matlock is one of the best stock traders in the world. Matlock focuses more on day trading and he is the CEO and co-founder of Atlas Trading stock chat room, one of the largest and most reliable chat rooms in the entire world. He has made millions in his career, including a $3 million profit from a single account with a capital investment of $30K. Matlock is always learning more about the stock market and you will find him in the chat room mentoring others when not actively day trading. He has fully dedicated his entire life to trading stocks and teaching people.
Matlock loves sharing and uplifting other traders to help them make the right call in their trades. He aims to create a community for everyone. You will often see him share his stock picks and information either in the chat room or on his verified Twitter handle.
Here are some of the simple tips he shares to guide you to start your stock trading career.
- Learn the basics
Visit various blogs or posts and learn as much as you can about stocks. Search and learn the common terminologies used and what they mean. Learn how to research the best stocks and equip yourself with the necessary tools to aid in your trades.
- Simulator trading
A simulator will help you gain the actual trading experience, and you should maximize your practice sessions. Ask your trainer or mentor all the relevant questions you have in mind no matter how irrelevant you think they are. You should practice doing trades without actual money to know how the process works.
- Consider working with a broker
Find a good and reliable broker with an impeccable record to guide you during the early stages. If it is online trading, be more cautious with who you engage with, as not everyone is out to help you. Ensure you have signed all relevant documents that clearly explain the level and terms of engagement. Remember, it’s from the agreement that you will decide the type of account to open.
- Follow a trading system
Get/build yourself a good trading system that works best with you, and ensure you stick to it when trading. Never usually trade outside your proven system or allow your emotions to take the lead blindly.
- Account funding
This is a crucial stage, and it is the point when some investors find it hard to make a decision. Invest an amount that you can lose. Consult with your coach or broker on how much to invest while considering your capabilities. Some brokers have a minimum amount that they work with, so you may have to comply.
You are now good to start trading and make your fortune in the stock market. Keep in mind that there is no guarantee of making a profit. However, this should not scare you and you should constantly strive to learn more about the market to better your chances of being successful in your trades. Matlock is available on Instagram and Facebook where he regularly connects with his audience.