We are all looking for an exciting career, one that gives us freedom and independence, something that you can do whenever you want, with no boss standing over your shoulder. For many Australians, the answer is to trade stocks and shares, which fluctuate in value on a daily basis; the theory is simple, buy at a low price and sell when the stock peaks, yet there is so much more to share trading, which we look into in this short article.
The importance of a broker
The only way to get into real-time trading is to connect with a leading Australian share trading broker and with Australian share trading, you need access to a secure trading platform, which the broker provides. Another important aspect of share trading is having access to learning resources, which is essential for novice traders and your broker has a huge library of reports, slideshows and video tutorials, which you can access at your own pace.
Demo accounts
No one walks into share trading and starts to buy and sell; rather it is a slow but sure process of learning the ropes. One important step is to open a demo account, which lets you experience real-time trading without using real money. On average, a novice trader would spend 3-4 months trading with a demo account before moving on to real trading on a secure trading platform. Keeping track of all trades allows you to plot a graph that clearly shows how your account is doing and when you feel you are ready, open a trading account and you are good to go.
Australian Securities Exchange
Known as the ASX, this organisation is a public limited company where you can trade stocks and shares of more than 2,200 Australian companies. The broker’s platform is secure and you can trade in real-time, with the full support of the broker.
Learning the ropes
If you are new to trading, there’s a lot to learn and a top-rated share trading broker has a huge library of learning resources that include reports, article and even short video tutorials. You can learn at your own pace and anything you are unsure about, consult with your broker. There are many acronyms that are used in the share trading world and Google can take you to a site where they are all explained.
It is important that you have a firm grasp on how real-time trading works before you start trading; a couple of months using a demo account will show you what real-time trading actually involves. Some take to it faster than others and like anything in life, you need to apply yourself 100% in order to be successful.
Start by searching with Google for leading share trading brokers and choose one with a great track record; with the broker’s know-how and a winning attitude, the sky is the limit.
