102-28 How to Trade Stocks in 4 Steps.

This section reviews a quick start checklist to help you organize the things you need to start investing in the stock market.

We then look at the practical side of stocks, such as stock prices, stock splits, stop losses, and market order types.

Quick Start Checklist

To get started with trading in the stock market, there are several decisions you need to make. Below you will find a “Getting Started in the Stock Market Guide,” which will outline the potential choices to make and notes on the positives and negatives of the various options. This should lay the groundwork for a comprehensive approach to your trading.

  • Choosing an online broker
  • Using a stock screener
  • Charting Tools
  • Using a portfolio management system

1. Choosing an Online Broker.

There is a lot of competition today in the online broker space, and the commissions and services offered changed regularly. Here we will detail some of the critical things to look for.

Top 10 Best U.S: Stock Brokers Review
Top 10 Best US: Stock Brokers Review
  • Commission Charges – ensure that your broker is competitive (under $1 per trade, preferably free)
  • Real-Time Charting (should be free in the base package)
  • Access to news (preferably streaming news)
  • Access to level II quotes.
  • Stop Losses and Rules to enable you to place alerts and automated actions when you are away from the Office.
  • Original Market Research and Valuations
  • Compare the interest rate on the Cash Account.
  • Customer Service read online reviews of customers.

The Best US Brokers Review

2. Charting Tools

Charting tools enable you to view the history of a stock using mathematical visualizations of the price, volume, and various indicators. Choosing the right charting software for you can be very time-consuming but is well worth the time invested.

LiberatedStocktrader.com has completed an in-depth analysis of the best free internet stock charting software available and organized this in a side-by-side comparison to fast-track this decision-making process. This is invaluable information and enables you to see what is essential in a charting package.

The critical choice for you is to use free internet stock charting packages or paid-for subscription-based software.

Top 10 Best Stock Trading Analysis Software Programs 2022

3. Using a Stock Screener

Stock screeners enable you to filter all stocks by your requirements, such as Earning per Share or Profit Margins, etc. Finding the right Screener is an essential building block to successful trading.

The liberated Stock Trader reviewed the Best Free Internet Stock Screeners available and performed a head-to-head comparison. This will save you a lot of time and effort in selecting the right one for you. There are also Stock Screening and filtering options in “subscription-based” Charting Software Packages. For example, Telechart offers compelling screening capabilities.

Top 10 Best Stock Screeners & Stock Scanners for 2022

4. Using a Portfolio Management System

Stock Rover, Our Favorite Portfolio Management & Stock Research Software
Stock Rover, Our Favorite Portfolio Management & Stock Research Software

Portfolio Management Systems enable you to enter a stock and a bought price and sold price. This will allow you to have the %gain and $ gain automatically calculated for you.

You mostly have three options to choose from.

  1. Free Portfolio Management Tools
  2. Online Brokers Portfolio Management Tools
  3. Tracking Manually with a Spreadsheet.

We have covered all the core essentials you need to set yourself up as a Stock Trader. The most important by far is to educate yourself always think for yourself and be responsible for your own decisions.

Stock Rover Review 2022: Pros, Cons & Features Tested

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