If you feel overwhelmed trying to learn online trading strategies, just think about how the stock options and Forex guys at XTrade feel. There are some options trading strategies with some odd names, and Forex IS as complicated as quantum physics. Maybe I’m old school, but the stock market itself is where the thrill is for me, and there is plenty of money making moves to pursue, without subjecting yourself to gambling-style investment ethics.
Your Online Trading Options
Do you think Warren Buffet invests in Forex? He surely plays foreign markets in one way or another, but the man isn’t a day trader. He’s the buy and hold strategist after all. It’s not just trading strategies but stock market terminology you must learn. Are you familiar with penny stocks? I can tell you 100 percent that I have made good money on online trading at XTrade, but buying penny stocks isn’t always going to be the best strategy. Remember that a penny stock is any stock under five dollars, not just stocks for pennies that are under a dollar.
Still, if you talk to the people that invest in penny stocks, you’ll find that most of them are aggressive investors leaning towards not just the stocks under a dollar, but the stocks selling for a few pennies. If you want to buy a share of Warren Buffet’s company, you can do so for thousands of dollars. That’s how much one share costs. In between there somewhere is the answer, and as you can see I’m painting a picture for you so that you can use the right approach to the stock market.
Which stocks should you buy? The first thing you should understand is that no individual stock should ever be purchased without you having personally researched it yourself thoroughly. Yes you want to know what other people have to say, and that definitely includes the investment analysts. Now, since you want to have thoroughly researched each move you make with stocks, it’s a good idea to invest in stocks that interest you.
Trading With XTrade
Online trading with XTrade of course provides you with many advantages. When I started trading, online account access was just becoming an important feature to investors. However, it was nothing like it is today. There are all kinds of platforms to choose from, and the key to online investing is taking advantage of minimizing commissions.
There are expensive investment options online, so don’t be fooled that each opportunity is cheap, just like you wouldn’t be fooled that each investment choice is wise. While you keep those commissions low, make sure you choose a brokerage that makes a platform available to you that is very user-friendly. If you’re not comfortable with your account dashboard, and trust me I’ve been there, then you need to choose a different brokerage. So far, I’m happy with XTrade and don’t plan to move any time soon.
I’ve mostly had great experiences online trading, but this one website for a particular brokerage was a little wacky. Other than what I’ve told you so far, I’d go with Warren Buffet’s buy and hold strategy, and the only other thing you need to remember is to choose wisely and always diversify, re-balance your portfolio and re-invest dividends.