If you trade or invest in the stock markets, you might have come across trading signals? These are services that offer signals on when you should make a trade in the financial markets.
They probably quote pretty good or even amazing returns and are offered on a subscription basis. But with so many of these services around, how do you choose a reputable one? Look for the following:
- A money back guarantee
- A social media presence where people have aired their views
- Testimonials from reputable people that you can follow up
- Past performance that is somehow verifiable
- Information on the trader that is actually making these calls
- An easy way to contact support
Naturally, you should also make sure they actually cover the market that you’re interested in. Be it the Dow, FTSE or something else.
By checking out all of the above, you’ll stand a much better chance of actually making money in the markets as opposed to being ripped off.
Many people start trading the markets because it just sounds great.
You sit at home on your computer, guess where stock prices are going to go and make money. At the end of the day, it’s made tons of millionaires so surely you have a chance, right? Well, you do have a chance at making money on the stock market but don’t be fooled, it’s no easy journey or get rich quick scheme.
People devote years to studying the stock markets and developing a trading strategy. Don’t just jump in on a hunch as even if you get it right the first time, it’s unlikely that it’ll continue to be the case.
Begin by playing with fake money on a trading demo account. Use that to develop your strategy. And then, when you have a high success rate start trading for real but keep it small. Gradually increase your stake as you confidence and strategy improves.
I hope that overview of trading the stock market helps. Do you have any other tips for those just starting out? Leave them in the comments section below.