How to Be a Stock Trader

By Business & Finance Last updated Wednesday, June/19/2024

1). Open a brokerage account. Research the many stockbrokers available and open an account with a broker. Make sure to read the terms and conditions associated with each broker.
2). Fund your account. The new investor should start with no less than $5,000. SEC rules require that any investor wishing to become a day trader must start with at least $25,000 and have a margin account with their broker.
3). Make contacts. Successful stock-market traders must be an integral part of the investing community to learn from others and pool their market research.
4). Start trading. Sometimes you just have to get started. Make your first trade and learn from your success or failure. All of your research will not make you any money unless you take the chance.