You are welcome to read this guide if you want to make the most of the promising EXANTE broker founded by Gatis Eglitis.
EXANTE founded by Gatis Eglitis: make the most of it
Before you start trading on the stock exchange, it’s worth exploring the steps that you will have to make to become a trader. So, to succeed in this field, you should adhere to the following algorithm mentioned below.
Pick up the right broker
The success of online stock trading mostly depends on the choice of a broker. In this case, not only the terms of trade matter, but you should also take into account the reliability of the company. That’s why it’s crucial to approach the selection process with maximum responsibility. If you stick with the EXANTE broker founded by Alexey Kirienko, you will not have any problems with the preservation of your funds, withdrawals and so on.
Develop your own strategy
A trading strategy is a set of techniques used in the process of trading on the stock exchange. Ideally, it should be developed by the trader himself to suit his individual needs.
In order to create the right trading strategy, you need to follow this basic algorithm:
- Acquire the basic knowledge: At this stage, the trader should study the maximum of useful information. He should understand the main principle of the stock exchange.
- Choose a trading period: You can choose either a short-, medium-, or-long-term trading based on your preferences.
- Choose the required type of analysis: At this stage, you should choose which method to use to analyze the market situation. For example, you can use fundamental or technical analysis.
- Explore currently existing trading strategies: It’s crucial to study the various strategies developed by experienced traders who trade based on principles that suit you.
- Create your own trading plan: Only when all the previous steps have been completed, you can begin to create our own strategy based on your knowledge
For beginners, developing their own strategy often seems very difficult. However, after all the necessary knowledge is obtained, problems with this process will no longer arise. If you work out the right strategy, you will get the maximum pleasure from working with EXANTE established by Gatis Eglitis.
Practice stock trading with a demo account
When the right brokerage company is chosen and you already have a working trading strategy at hand, a demo account should be opened. Ideally, the amount on it should correspond to that planned by you to be part of your trading plan.
On a demo account, you should execute deals in accordance with the chosen strategy. The duration of the test period should be at least a month.
After the end of this period, you should evaluate the result:
- If the trade turns out to be profitable in the end, you can use the strategy on a real deposit.
- If a loss is received, you will still have to study the strategy or look for another one.
Open a real account
In most cases, to open a real account, a trader needs just a few clicks on the site of a brokerage company. Sometimes additional verification is required. For this purpose, you will have to provide screenshots of your identity documents.
When the brokerage account is opened, it’s necessary to deposit it with real money. Only after this, you can proceed directly to trading.
By the way, when it comes to depositing your trading account, a question shows up – how much do you need to trade stocks. Today a great number of stock brokers give an opportunity to start even with $1. Well, it sounds fairly attractive but you should realize that the amount of profit is primarily determined by the amount of invested capital. As follows from this, the more you invest, the greater earnings you can count on. On the other hand, greater investments can also bring devastating losses.
Get your first profit
If you strictly follow the advice of professionals and adhere to the chosen strategy, you can achieve good positive results. In other words, it will be possible to get the first profit. The EXANTE broker is an ideal candidate for your first profit in the stock market. This company adheres to the strict SEC requirements, which proves its high reliability.
Build up your trading capital
Well, your strategy works. Now it’s high time to increase your trading deposit at the cost of profits, of course. Experts do not recommend depositing additional amounts until it is possible to increase the initial capital by at least 2 times. It will show that you have picked up the right strategy.