Posted by Stock Trader on Sep 16, 2010 in | Comments Off

If you want to learn how to trade stocks, make sure you also learn how to trade stocks and make money.

Far too many people fail at trading stock. Don’t let it be you.

What have you decided to trade: options, forex, penny stocks, ETFs? Do you plan to day trade, swing trade, use technical analysis or not? You can already see the amount of options available to you when you decide to trade stocks.

Frst, you need to find a focus. When trading stock . you need to be focused, dedicated, informed, and prepared. The number one mistake most traders make is not being prepared.

How can you prepare yourself to trade stocks? Study as much as you can. Read books, read trading forums, and do not jump in with both feet. You should paper trade or try virtual online trading, even better, get a training program. One of the best programs out there is the Trading Pro System. It’s full of step-by-step videos (over 40) that will teach you how to trade like a pro.

This may sound slow, you are used to a fast paced life, but the fact of the matter is, it is a tried and tested method that most successful traders both have used, and recommend. You can learn and do actual trades without involving the money side. This will take out a lot of the risk and fear that may come into play later as you really trade stocks, but it will allow you to learn without going broke.

Decide whether trading stock virtually or on paper suits you best. Then start investigating. If you will be trading online, the company may offer a virtual trading area, or you can search for stock trading simulators. It is truly like live stock trading, but again, you don’t lose your money.

You should decide to do the paper or virtual stock trading for a minimum of 6 months. Don’t be one of the guys that loses all his money because he didn’t know what he was doing. You didn’t start your career like that. You probably studied it in college or learned under someone. If you want to know how to trade stocks, take it seriously. Maybe it is just a hobby, for fun or

for extra money, but it is also a real “game” using your real hard-earned money.

Once you decide you want to learn how to trade stocks, make a plan. Again, for 6 months to a year, you should be learning how to trade stocks, deciding which method suits you best – day trading, swing trading, using spreads – you must decide what is best for you. How often do you have to trade? How much money do you have to invest? Are you looking for short term or long term

stocks? Figure out all the questions you need to answer in the 6 months or year, then make a plan.

Once you make a plan, stick to it. This is the second key to learning how to trade stocks and make money. Don’t second guess yourself, once you have done your studies and you know what you are doing, just decide and do it.

You can learn to trade stocks and make money – it’s dedication, focus, knowledge (do your homework), and planning, and don’t forget – sticking to it!

Get the knowledge and skill you need and you will be trading stock like a pro in no time.