Having an investing plan can be broken down into parts to help figure out exactly how to begin the stock buying process.
1. Objective – before buying into a company or purchasing an ETF consider your objectives. How much are you willing to pay. How much do you want to sell for or to stay until you feel you’ve earned enough.
2. Watch List Criteria – what to look for when purchasing stocks
3. Entry Rules – Analyze the stock’s time period between 6 months to 5 years to help you see the trends before committing.
4. Allocation – How much are you willing to buy. A good rule never buy more than 10% of a single stock in your portfolio.
5. Exit Rules – When to get out – set your limit to sell at 3% below what you bought this way you’re not sweating that you lost too much money!
6. Routines – weekly check on new stocks to buy. And always continue your education!
Recommended Read: SSR Rule in Stocks
How to Start
Firstly, if you want to learn how to become a day trader and start trading on your own with ease and confidence – Sign up for the FREE Mini Course.
Let`s get to know each other. You can learn more about my journey and how I started here.
After that, if you have any questions you can always ask me at traderchick.com. Come to my Facebook group and introduce yourself, let me know your experience with trading.
So if you are ready to go beyond the basics, learn day trading and start your dream life – check out MY COURSES.