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Want to succeed? Know the 7 Most Powerful Stock Trading Tips


Want to succeed? Know the 7 Most Powerful Stock Trading Tips


Being successful is of course the thing that almost everyone in the world dreams of. There are various ways that can be done to achieve that dream. Did everything work out? Of course not, there are also many failures that occur. Being hardworking and never giving up is sometimes not enough, other strategies are needed that can increase income as much as possible.


The way that is now becoming a hot topic of discussion among the public, especially the millennial generation, is stock investment and stock trading. Handling the impact of the pandemic towards a positive direction also brought fresh air to the increase in stock prices in various sectors. This of course makes the stock market a very promising sector. However, not everyone has knowledge in trading stocks. Here are some of the most powerful stock trading tips for beginners who are interested in the stock market:


1. Have the Right Knowledge

Stock trading is actually not as difficult as many people imagine, but it also cannot be done carelessly, because of course there must be a risk of loss that must be faced if it is not wise to choose steps and instruments when buying and selling stocks. Have basic knowledge of stocks and learn as much knowledge about stock trading as possible from stock websites, social media related to stocks, or from stock trader books before starting trading.


This is an important key to help you get a strong foundation in making decisions later. Don't be shy to talk to people who you think have more experience and knowledge in the field of stock trading, and are always open to the latest information about stock developments.


Also Read: 8 Tips for Learning Beginner Stocks, What Are They?


2. Set aside funds in a planned manner

Income management is very important to have before deciding to trade stocks. With good financial management, you can maximize your investment funds as best as possible. Make sure that you have set aside funds for your basic needs, emergency funds, and insurance, so that the funds used for investment can be allocated as well as possible without disturbing personal needs.


Decide in advance how much money you want to spend on each trade and how much risk you are prepared to face. Some successful traders tend to choose stocks whose risk is less than 1%-2% per trade. So, this way you will more easily weigh the advantages and disadvantages that you will face. Remember that stock trading does not always bring profit, but if you can manage the risk, the profit you will get will far exceed the loss faced.


3. Prepare Time

Stock trading does not only require funds and knowledge. Time is the most basic thing that a trader must provide before starting stock trading. Make sure you set aside your time as best you can during trading hours, so that you can monitor good opportunities to trade and maximize your profits. In Indonesia, stock trading hours are divided into two sessions from Monday-Friday, session I is held at 9.00-11.30 WIB, and session II at 13.30-14.50 WIB


4. Choose the Right Securities

Choosing the right securities is key in stock trading. Good and trusted securities are those that have been registered and supervised by the Financial Services Authority (OJK). Now there are a lot of securities in Indonesia, both offline and online. How to register is also easier, because there is already an online stock trading application whose entire registration process can be accessed online. Make sure you choose securities that are trusted and that are most suitable for you, both in terms of quality to ease of access.


5. Start Small

As a beginner, it's better to start small. Starting from buying cheap shares but from trusted companies. Start learning to be consistent with the nominal you set. By starting small, usually you will slowly start learning good stock trading techniques and your trading skills will slowly improve. If you are more confident in your abilities, then start increasing your trading capital.


6. Avoid Fried Stocks

Fried stocks are stocks that offer great returns at low prices. Stocks like this are usually able to make traders tempted because of their sloping prices. However, if you want to last a long time to become a trader with greater profits, you should stay away from stocks like this.


Don't think of trading like gambling, don't expect to be rich overnight. Stock trading is basically a job as well, so stay realistic and wise in choosing the stocks you will buy. Do not be tempted by the offer of instant profits which can usually cause greater losses.


7. Confident But Still Realistic

Have strong self-confidence, this can grow with your flying hours in the world of trading. Having capital is important, but having enough knowledge and experience is what can help you maximize your profits and help you succeed in the trading world. Self-confidence must still be accompanied by a realistic attitude. Stocks can indeed offer lucrative profits, but successful traders also do not always make a profit in every trade. There are also many traders who experience losses of at least 40%-50% of all trades. But with good risk management, they can maximize their profits so that losses from unsuccessful trades can be covered by the profits obtained. So, if you fail occasionally in stock trading, it is normal. The most important thing is to keep learning and continue to hone your skills in seeing other good opportunities next.


So that's 7 Most Powerful Stock Trading Tips version of RHB. Hopefully it helps you in investing in stocks, yes! Let's learn how to invest in stocks online, investment strategies, and stock choices that have good fundamentals. Take advantage of the RHBTRADESMARTID stock trading application which is equipped with various features to make it easier for investors to invest anywhere & anytime. Download the RHB Tradesmart application on Playstore and Appstore now.