More and more Australians are looking to make a living by trading; stocks, shares, crypto, Forex, and precious metals are all very busy markets. Company shares can be bought and sold much like any commodity and, of course, share value can rise or fall, which is where the markup lies; there are many variables that might affect the share price of a company/corporation and the buy-low-sell-high system is followed by most traders, although not all.
Table of Contents
Are you financially ready to invest and trade in shares?
This is the first question to ponder, if you’re not carrying heavy debt or have credit card issues, there’s no reason you can’t start trading shares. Of course, you should have a basic understanding of how stock markets operate at the very outset; 4-5 hours of Googling will give you enough background knowledge and the next stage is to set up an account with an online platform that facilitates trade shares in real-time.
The Importance of your trading platform/broker
When you register as a user with a leading Australian online trading platform, you have instant access to everything you could possibly need, and some!
A top-rated Australian share trading platform would offer the following:
- Diversity – Invest in 2,200+ companies in Australia.
- Certified ownership – You have the Holder Identification Number (HIN) in your name.
- Trade from any location/device.
- Huge library of learning resources, unlimited access to members.
- Secure real-time trading.
- Top cyber-security.
Start with learning about commodities and trading in general
The broker has the best learning resources to take a beginner through the process, with tests to ensure comprehension. You probably know that Public Limited Companies float their shares on the market and share prices fluctuate, if you buy when the share price is low and sell at the spike, you can make a lot of money; the secret is to be able to decipher all the data and make accurate prediction, most of the time. No trader gets it right every time, we all have to take hits and do what we can to minimize risk.
Demo trading accounts
Before you start speculating with real money (yours), you can set up a demo account and trade with this; the software tracks your trading and plots how you are doing. If you are up after 3 months, perhaps you are ready for real trading. Of course, your broker is also your partner and they have all the resources you need to make the transition into successful share trading. Your broker doesn’t want to see you lose it all, if you make money, so do they, so the professional is highly motivated to help you make money.
Australia is home to one of the top online trading platforms managed by a top-rated broker and when you are ready to learn more about trading, these are the people to talk to.
