EIGHT RULES FOR SUCCESSFUL ONLINE STOCK TRADING:
1. TRADE WITH THE TREND
It is an open secret that online stock trading has its own share of fraud. However, it is possible to avoid becoming a victim. The key is to keep the mind on red alert at all times. Another precautionary measure is that one should always do their own research beforehand. In this way, one can keep track of ongoing trends. It is often safe to move with the trends in the beginning. Later on, with experience, one may or may not choose to follow the trends.
This is undoubtedly one of the most tried and tested safe haven of trade gurus. They mostly believe that one does not have the authority to change the way and direction in which the wind moves, but one can always gauge the weather like the weathercock. This enables one to set the sails in the direction of the wind. The mantra is simple – one should trade what one observes around oneself, not the other way around.
This brings us to our next rule, which will further ensure safe online stock trading.