What steps can you recommend for a beginner who wants to buy Shares?

[Njau]

Outline the steps can you recommend for a beginner who wants to buy Shares.

[Josh]

You want to buy your first shares and start stock market trading? Congratulations if you followed the previous advice on how to learn about stock market trading. By this time, we will assume you have taken your time, practiced adequately, and sharpened your skills and experiences for this moment.

 

By now, you already have your brokerage fully set up and ready to begin trading, the next question is how to place a stock trade. Once you have funds in your account, the process of placing a stock can be subdivided into five main steps;

 

Choose whether to buy or sell the first step is to always be sure about what you want to do. You can choose to either buy shares long or sell shares short. As a beginner, it would be simpler and smart to keep things simple by buying shares long instead of selling shares long.

 

1. Insert Quantity

Once you have made a determination of whether you want to buy or sell, the next step is to determine the number of shares you want to buy or sell. You can calculate the number of shares you want to buy or sell based on the money in your account by simply taking the total amount of money in your current account and dividing it by the stock’s last prices. For example, if Company Z is trading stocks at $ 10 and you have $2000 in your account, you can afford to buy shares of stock ($ 2000/$10); that translates to 200 shares of stock.

 

1. Insert Symbol

Once you have bought shares, the next step is to insert the respective company’s ticker symbol. The ticker symbol represents the company you have chosen to trade stocks and is a requirement when reading a stock chart.

 

1. Choose an Order type

Even as a beginner stocks trader, you need to acquaint yourself with the common types of stock order types. The common order types include the market order, limit order, stop order among other types. If you are a beginner; market orders are always a good choice for a start as you gain more experience.

 

1. Review order and place trade

It is always good practice to confirm your order before placing the trade to be sure you have filled in all the inputs correctly. Once you have put in all the basic inputs correctly, the place order button will be displayed along with the summary screen once the order has been confirmed. This confirmation summary page can always be deactivated later once you have become conversant and comfortable trading stocks after some time.

 

As a beginner, these insights will be helpful to you and once you become conversant with stocks trading, you will be able to buy and sell shares without having to think about all these, you will have internalized the process and be able to trade as necessary. Take your time, be patient learn, and be consistent.

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