Review And Recommended Trading Tools
New Online Share Trading Tool That Tells You WHAT To Buy, WHEN To Buy It And When To SELL…
Over the last couple of years there’s been a lot of buzz about so-called “artificial intelligence” software and how it’s revolutionizing the way we trade shares online.
Quite frankly I never really bought it and with all the hundreds of different trading software out there I am naturally skeptical.
Most trading software is just filled with hundreds of complicated charts and indicators that I never really understood or had the time to analyze. Learning the software can take months and in the end you tend to forget the whole purpose of trading shares which is to make money.
Stock Assault was not at all what I expected. It’s not your typical trading software. It is more of a tool that helps you with the 3 most difficult aspects of online share trading:
1. It picks stocks for you
2. It tells you when to buy
3. It tells you when to sell
It analyzes thousands of stocks every day and uses multiple filters to pick stocks that have the best chance of making you money. It then tells you when to buy it (at the best price) and it tells you when to sell (at the best price). You still use your online broker (like eTrade) to make the trades as usual – the only difference is now you can trade with a lot more certainty and make more scientific and informed decisions.
If you’ve been trading stocks online you will be able to appreciate just how valuable this trading tool can be. Now, it’s not a miracle software that will make you a millionaire over night. Not by a long shot.
It’s quite “conservative” and quite safe. Most trades will make you 10 to 50% profit per trade and on average it holds onto a stock for anything from 2 to 10 days. So, you won’t make huge amounts of money (unless you trade big amounts) but making 20% on your money every 10 days is pretty darn good.
Like most trading software they do promise returns of 1,000% or more. This is just too good to be true and my personal experience is that the returns are much more humble (although I did have two big gains with it).
Of course you won’t win every trade. It’s just impossible. The secret is to keep your losses small and to cut losing trades a.s.a.p. No stock picker is perfect and it can’t win all the time.
Do I recommend Stock Assault? Yes. It’s become an invaluable tool in my online share trading tool kit and even if you just use it to find good stocks you will have a lot more success than just trying to pick stocks yourself.
Online Share Trading…
I used to find it so frustrating when reading books and listening to top traders telling me how easy it was to make money trading. I suppose when you haven’t seen it first hand it can be a hard pill to swallow. The truth is that once you “get it” it really isn’t that hard. You don’t need to be smart or have special skills or abilities.
The biggest mistake that most aspiring traders make is to keep looking for that “one” secret that will make them rich instantly. Yes, you might get lucky and have one big trade but that’s not a long term strategy. When you learn to trade stocks well then you basically have the ability to create money.
Making money trading stocks boils down to 3 key elements. Think of it as the ingredients of a profitable trade.
Picking stocks is all about finding opportunities. This is where most inexperienced traders fail because they go and look for stocks of well known companies that they think they should trade. The reality is that big name stocks like Apple or Google or IBM offer very little opportunity to the individual trader (although it could under certain circumstances). A good opportunity is a stock that has big potential for growth. Often these are companies in whole new industries – companies that you’ve never even heard of before.
Knowing When To Buy
Once you’ve found a good stock pick, you need to know when to enter the trade. It’s simple: you need to buy the share at the lowest possible price to maximize your profit. If you enter the trade too soon you might pay too much. If you enter the trade too late it might be too expensive. Great traders are very skilled at reading stock signals and evaluating when to buy a stock.
Knowing When To Sell
Knowing when to sell is probably the most important part of being successful at trading shares online. If you sell too soon you will miss out on potential profits. If you sell too late you might lose money. One of the biggest mistakes I see novice traders make is that they hold on to a stock “hoping” that it will go back up so they can recoup their losses. Not only does this lock up your trading capital but it is sure to give you some sleepless night.
Wit the advent of so-called “artificial intelligence” trading software, this process has been automated to a large extent. To make informed decisions on whether a stock is a good opportunity and deciding when to buy and when to sell requires a lot of research and interpreting a lot of graphs and data.
Artificial intelligence software like Stock Assault can interpret a lot of data for you and make a much more informed decision that you will ever be able to make through “manual” work. Off course you cannot afford to hand over your money to a trading robot, but it sure does give you a big helping hand in making good trading decisions.
Why Online Traders LOSE Money…
* Go It Alone
Trading is a team sport. This is probably the hardest thing to understand when you first start out. If you think of big trading companies, they are big teams of very skilled people that pull together to make informed and educated decisions. If you are locked up in your study and you are trying to figure it all out by yourself then you are doomed to fail.
* Reinvent The Wheel
When we first start out we want to “figure it out” and try to understand everything about everything. Although it’s a natural tendency it is the WRONG way to go about it. It’s good to keep learning, but do not reinvent the wheel.
Find a trading strategy that works, learn it and master it. Simple as that. Professional traders do this. Unless you are a Warren Buffett, you will probably never develop your own trading strategy. Find what works and simply do that.
* Treat It Like A Business
Your online trading business should be exactly that; a business. If you treat it in a casual haphazard way then you will probably lose money. When you treat it as a business you start to take it seriously and you start getting very diligent about your capital and how you enter and exit trades. A business needs to make money and if you treat your online trading as a business you are more likely to make a profit.
* Failure To Develop The Right Mindset
Trading is as much about learning the “technical side” of it as it is learning the right mindset. Regardless of how good you are, you will have losses and not every trade you make will be successful. You will screw up and you will have doubts and fears. Only those who eventually learn the right trading mindset becomes successful at online share trading.
In the end you have to get all the help you can. Get all the tools you can afford. Learn, learn and learn some more but most of all TAKE ACTION. Start trading and learn from every trade you make – especially the unsuccessful ones. If you can, get the software to help you pick good stocks. If you can, make some trading friends and discuss your trades with them. Take it seriously, have fun and never give up.