Three Simple Steps to Start Trading Stocks in 2024 and Make Money

First of all, congratulations for choosing to read this article and taking the first step already!

About a decade ago, I was in the same situation as you. I was intrigued by the stock market and often watched CNBC traders discuss the markets and their favorite trades. I thought, “If they can make money, why can’t I try to learn as well?”
Unfortunately, you can’t go to college to learn how to trade, and the knowledge is often guarded by a select few who are more interested in selling their programs or strategies than teaching you. However, I want to change that and share what I’ve learned through my own experiences.

I read reports discouraging me from learning to trade stocks and options. I would read articles saying trading stocks is equivalent to gambling in a casino; you will always lose money, only hedge funds can make money, and the odds are stacked against retail investors on Wall Street.
It is possible to teach yourself how to trade if you are willing to be patient and put in the time and hard work.

Here are step-by-step instructions on how I learned to trade the stock market.
Step # 1: Learn from Investopedia

Investopedia is a free underrated website. Start with studying the following:

1. What is Technical Analysis?
2. What is Fundamental Analysis?
3. What is the Support level of a stock?
4. What is the Resistance level of a stock?

Step #2 Learn charting from Trading view

Trading view is a free website that offers the best trading charts in the industry. It took me a long time to find out about Trading view.

1. Choose one stock you want to observe; as a novice, I recommend choosing a blue chip stock.
2. Choose one year time period on the chart and observe the stock price movement.
3. Note down the 52 Week’s high and low on the stock
4. Study the different indicators (you can add three indicators for free)
5. Mark areas of support and resistance as you watch the stock

Step #3: Open a paper trading account at TD Ameritrade

When I started learning to trade, I chose TD Ameritrade because they offered commission-free trades.

1. Buy one share when the stock you are observing reaches a support level.
2. Now observe how the stock moves from support to a resistance level
3. Sell the share once the stock reaches a resistance level

In summary, teaching oneself how to trade stocks is possible with discipline, hard work, and patience.

Stay tuned for my upcoming post where I will share free strategies to track and learn from trades made by hedge funds on Wall Street!