You can’t find one available investing strategy that will work for everyone because a strategy becomes unique for every investor and their circumstances. A lot of people are conservative when investing in stocks, while some just jump when opportunities arise.
In this article, we’ll quickly dive into a couple of tried and tested trading hacks that you can use instantly.
HACK 1: Take time for research and assessment
While swing trading requires less time than day trading, you should still do the work. Your strategy won’t work if you simply blindly buy stocks. What’s good is that you can do your research and assessment in your own available time. Researching and assessing thoroughly will get you the right information you need, which will allow you to plan your strategy more effectively.
HACK 2: Set advanced buy and sell prices
After doing careful research and analysis, select your preferred stocks and check the prices where you will buy and sell way ahead of the market’s opening. The goal here is to buy low and sell high, which entails that you must research and assess to identify the acceptable good prices in advance. Doing so allows you to execute quickly during trading hours while helping you avoid making bad trade decisions.
HACK 3: Prefer ranges to exact prices
It can be hard to monitor price movements every minute of the day, so much use price ranges rather than exact prices. This provides flexibility, but don’t take it to the extremes. You should still be strict with your plan execution. Many get impatient when the price gets close to your preferred range, so don’t be carried away by emotions since it’s a quick recipe for disaster. Stick to your plan.
HACK 4: Be consistent when executing your plan
Thanks to planning your trades ahead of time, you won’t need long to execute them. Set aside a bit of time for checking your stocks. If you see that current prices reached the buy or sell range that you defined during planning, then just execute the trade. If the current prices haven’t reached your preference when you were planning your strategy, simply hold and check the market again the next day. Repeat this once a day, five days a week.
HACK 5: Allow technology Assist your stock monitoring
Technology has made stock trading even easier for beginners. There are a plethora of free and paid services and apps that will help you monitor your stocks on the go. Heck try it now on your mobile phone if you can. Just search “stocks app” and you can instantly see what’s available and download what best works for you. Take advantage of the ones that will help you succeed.
Going further – gain more stock market knowledge
Of course, there’s more to stock trading than what we have just covered here. There are tons of insider Hacks and tricks out there just waiting to be dug up. Remember to learn from trusted sources like Eastern Securities, which offers resources which are perfect if you want to know more about how to invest in stock market in the Philippines. With so much information and new technology available to you, investing in the stock market has become easier even if you have a hectic schedule.
Start small and stay disciplined. Be consistent and don’t stop learning, and gradually you will see the fruits of your labor. Best of luck!