Ask the wealthiest of Americans what their secrets are to financial success, and they will most likely say that one of them is stock trading.
The 1980’s were particularly helpful to big-time stock investors – those who could afford to invest thousands upon thousands of dollars were able to double, even triple their incomes. Luckily, for the smaller investor, this is not the case anymore – the stock market has become more open to even to those with limited funds. Almost all companies now offer 401k accounts that enable all employees own a portion of the company. And thanks to the Internet, the market is even more open now. Online stock trading is enabling millions of Americans to make money in the stock market, even with minimal investments, without leaving their homes or offices.
Beginnings of Online Stock Trading
The 1990s saw the start of online stock trading when day traders ran up Internet stocks. These people made online trading so popular that nowadays, virtually anyone can trade stocks online.
To get started, you need to choose an online stock trading company, pay the membership fee (which can range from about $5 to about $20), and set up an account either for IRAs, money market funds, mutual funds, or trading of regular stocks.
Once you have set up an account, you can begin trading and managing your funds. Most online stock trading companies provide you with tools so that you can access the market in real time, quickly examine trends, and trade instantaneously.
Succeeding in Online Trading
Remember to regularly view your portfolio online. You have to make full use of the online trading company’s research facilities in order to maintain and grow your investments. Download the relevant financial reports that come for free with your membership. It is also wise to study the histories and performance evaluations of all stocks you want to trade.