3 tips on how to trade stocks without spending a penny
1. Take advantage of free resources.
There are so many great training videos, blogs and other resources to help you start you have absolutely no excuse not to jump today. I have over 100 hours of video on my YouTube channel here – all free for you at no cost.
Can you imagine where it would be as a trader if you take the time to go through all these videos? Say you took two hours a day to study my trading stock tips. You get the videos in less than two months, and I guarantee you would be better off than people who buy during high price and never act on the information they bought position.
I would like to show all hours when you first start, sitting on my computer and studying stock charts until my eyes glazed over. I left the “box”, too – and do not have access to almost as many resources as it does. Fifteen years, the Internet was a totally different place. If I could retire with my limited access, you can do much better now, with all the different resources that exist today.
2. Establish a practice account.
With all the different free resources out there, I want you Ailles crazy. Read each blog or book you can get your hands and see each video. More information about the basics of stock trading, which means see price action and how to perform operations.
But I also want to note that there is a point where we must translate all the education he has invested in the action. Reading the trade is not enough. It is not a trader until well. . . Commerce.
If you still do not have the money to open their first brokerage account, at least to start practicing. Find an online site that lets you set up a practice account and executed some test operations. Practice the strategies I teach, but do so with low risk. Although the practice of account portfolios are not perfect in the real world, at least you get used to the feel of the search and the execution of a trade mirrors.
3. Start saving for your brokerage account
As the research and implementation of operations in their own practice, take a look at the runners that I use, because I want you to think ahead. One of the great things about penny stock trading is that you can start with a small account. Say you have only $ 2,000 to invest. With this money, you could buy about 16 shares of Apple at $ 120 per share, or you could buy 2,000 shares of a stock trading at $ 1 per share.
And since you make money when entering and / or exiting an action based on the number of shares you have, the option that can help develop your account faster?
Penny stocks are an excellent choice for beginners, but will teach more than one thing: Do not use your last $ 2,000 to open your brokerage account. Package with money you can afford to lose. If you do not have a few hundred or a few thousand dollars, it feels that way, reduce expenses or earn some extra money to do it.
When you are ready to start trading actively, find a mentor who will help you make the most money that has been able to save. Although this is not always free, the amount you save by not making stupid mistakes and avoid unnecessary losses can get you started on the right foot to the long-term profitability.