Three Simple Things to Check Before Making a Trade

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While online trading may be one of the most proven ways for people today to earn money investing, the trading process is a notoriously complicated one. Trading is about more than just taking risks or hoping that a purchase works out; it is about really taking the time to understand the process and taking calculated risks based on the research you do. When it comes to trading, the biggest thing that you can do is your homework. You must be willing to take the time to learn about the trading process and about the stock you are trading before you do anything else.

However, even the most diligent of stock market students will undoubtedly find that some trades just don’t go as well as others and there are times when no matter how much they investigate a trade, the process goes sour. For those who are looking to make some extra profit off of trading, there are three simple things they need to check first before they commit to a trade. Doing these things can be the difference between earning a profit and losing your investment.

Check Items on Your Watch List

With so many stocks out there, it is easy to get overwhelmed during the trading process, and being overwhelmed can lead to poor decisions. You need to develop your own watch list, or stocks that you follow on a daily basis. Look into a few categories to narrow down your options such as internet, retail, banking or pharmaceuticals. To make the most informed decision you need to spend months watching the stocks in your chosen sector to see price movements. Stick within your sector, particularly as you are getting started to make sure you are giving your trade the time and research needed.

Check to See if You Are Trade Chasing

One mistake that many traders make is they get so caught up in an exciting, fast-moving stock that they start chasing trades. It can be easy to start jumping on the bandwagon of a stock that is going up or down quickly. However, the problem is that there are experienced traders that are typically going out the back door, as newer, inexperienced traders are coming in and buying. It’s alright if you miss a stock on its way up or down, just don’t try to join the party late, because chances are it will not be a profitable trade. Remember, there are always additional trading opportunities.

Are You Sticking to Your System?

Every trader needs a system. This helps you stay in control and stay focused on your plans. You can’t just go into a trade situation and try something new every time. Whatever your system is, you need to have set rules that define which stocks you watch and when you buy or sell. This is the difference between gambling and smart trading. Before you make a trade, stop and check to make sure you are sticking to your personal system.

Keep these three simple tips in mind whenever you consider trading. While there is no guarantee with any investment, these tips can help any trader be more prepared to make smart decisions about the stocks they invest in.

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I have VERIFIED Over $1,200,000 in net profits already in 2015 and I am sitting on very large unrealized gains on top of that !!!

My Top 5 Students Are Well On Their Way To Be Millionaires !!!