Starting the stock market journey
Last year I was scrolling through my Facebook newsfeed, and I kept seeing these articles about the Gamestop squeeze. This really intrigued me, a bunch of average people on reddit made a lot of money because hedge funds got greedy and tried to bankrupt several companies. I never knew much about the stock market, I knew the basics, you could buy shares of a company and if that company does well then you may make some money from it. I know so many people who have retirement funds, but didn't understand how that money grew. Its not something they went into detail about in school, at least not the public education I received. So if you want to learn about the stock market, where do you start?
Choosing a stock broker
First thing is you want to find a brokerage. But how do you find one that is right for you? I joined 3 different brokers to get all the perks of being a new sign up and used that money to start my portfolio.
Robinhood is a basic broker that is beginner-friendly, but if you want to learn how to swing, scalp, or day trade, it may not be for you because they don't have complex charting. So if you are just starting your journey, and don't plan on using technical analysis or complex trading, this could be a good start for you. Using the link below you will get stock worth between $5-$200.
https://join.robinhood.com/jessicl-ab3d4c
Public is a lot like Robinhood but they have an added social feature. You can talk about stocks with other people, see their watchlists, and even see trades they make and what their profit/loss was. Public doesn't have any complex charting, but I like the social feature platform. Using the link below you will get stock worth between $3-$300.
https://public.com/signup?referrer=javonelle
Webull has become my favorite brokerage by far. Both their app and desktop version has great charting, news articles, financial statements, and a comment section where you can see what other people are talking about. They also have the best sign up bonus of all of them. You will get 6 free fractional stocks with a value of at least $3 each. That's at least $18 in free stock. My husband got a whole share of SNAP when it was at $70. Use the link below to claim your free stock.
https://a.webull.com/KJLXxMdlyGUnyYd5IO
Now that you have a stock broker, what's next?
You need to figure out what kind of investor you want to be. There are many ways to invest whether it be for long-term growth, or you want to actively trade the market. So what are the different trading styles?
Long-term - Buying stock, ETF, or mutual funds that you anticipate will grow over time, these trades have the least risk and are best for a hands-off approach.
Scalping - Scalping is a very fast-paced trading style when you are taking advantage of momentum, scalpers are usually only in their positions for minutes at a time.
Day trading - Day trading is the purchase and sale of stock during the same day.
Swing trading - These positions are usually held for a couple of days to weeks.
All of these trading styles rely on a catalyst to make the stock move, this could be earnings, news releases, trends, etc. And once you set your risk tolerance, and how much time you want to spend trading you'll be able to figure out what kind of investor you are.
Thank you for taking the time to read, check out my other blogs that are soon to come with more information about my favorite Youtubers to learn from, my favorite chart setups, options trading, and more.
