You need to do four things to make money from the stock market. First, accumulate capital to trade. Second, determine an investment goal. Third, become educated on the stock market. And finally, fourth, open a brokerage account.
Dieting isn’t tantalizing; the same goes for budgeting. With the gym, many people advise to focus on dieting, then the gym; the same philosophy is applicable for investing. You need to focus on money management first, so budget, then invest.
Discovering Investment Goals
The second is setting investment goals; to do that, you must determine an amount of money you’re willing to lose, then you can start thinking about how much you can make. You have to consider that most of the time, an investment with a lower risk, will have a correspondingly lower gain.
Refining investment intellect
The third is getting educated and getting comfortable with the stock market. Let’s think about phones, complicated giant phones from the ’80s don’t equate to a better phone, nor does complicated stock information equate to better stock information. Fincuity’s goal is to refine & demystify stock information so that it can be easily understood and used.
Opening a Brokerage Account
Fourth is a brokerage account. Fincuity recommends Etrade, due to excellent customer service and a clean interface; Fincuity also recommends Robinhood, due to its simplicity. Fincuity is familiar with the multitude of brokerages out there; there are pros and cons for all of them, but ultimately the best brokerage for you will be one that you are comfortable with and trust.