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A Few Steps New Traders Can Take

By Shaun Rosenberg

Everybody wants to make money by trading stocks, however most traders don’t. In fact 90% of traders who do get into the stock market fail to make money by trading stocks. Most people actually lose money.

If you are starting to get into the stock market don’t let those numbers deter you. Anybody can make money trading the stock market, but you cannot do it by following the mass and making the same mistakes over and over again. If you really want to make money from the market here are a few stock tips that can help you out.

1. Stop Asking the “Experts” which stock You Should Buy

Having a mentor is a fantastic thing if they are actually making money in the stock market. But there are a lot of experts out there who are not and there are a lot of experts out there who do make money but are involved in some sort of a scam. So asking an “expert” which stock to get into tomorrow might be the wrong way to approach it.

Everybody looks at the market slightly differently. The best thing to do is to simply learn how the stock market works and develop your own strategy out of that.

Instead of listening for some magical stock that is going to go up and make everyone a million dollars every night, see if you can understand how they trade and what they look for when trading. That will help you more in the long term.

2. Become an Expert

The next thing to do is to become an expert yourself. Study the market and learn as much as you can. Create your own system and learn from it. That way you can become an expert yourself.

3. Backtest and Papertrade

Just because you have a strategy does not mean that it will work. The next step is to backtest and papertrade your strategy to see how well it is actually working.

Backtesting means going in the past and seeing how your strategy would have worked out for you in the past. Papertrading means actually trading with your strategy, but without real money.

These will give you a good idea on how well a system is working and if it will actually make you money or not.

For more stock trading tips visit Shaun’s site about trading stocks

categories: stocks,stock market,wealth building,invest,investing,investment,personal finance,finance

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Article Citation
MLA Style Citation:
Rosenberg, Shaun "A Few Steps New Traders Can Take." A Few Steps New Traders Can Take. 8 Aug. 2010. uberarticles.com. 11 Nov 2014 <http://uberarticles.com/finance/stocks-mutual-funds/a-few-steps-new-traders-can-take/>.

APA Style Citation:
Rosenberg, S (2010, August 8). A Few Steps New Traders Can Take. Retrieved November 11, 2014, from http://uberarticles.com/finance/stocks-mutual-funds/a-few-steps-new-traders-can-take/

Chicago Style Citation:
Rosenberg, Shaun "A Few Steps New Traders Can Take" uberarticles.com. http://uberarticles.com/finance/stocks-mutual-funds/a-few-steps-new-traders-can-take/


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