Trading has gone global thanks to the World Wide Web and in real-time, you can trade gold, silver, crypto, stocks and shares, to name but a few commodities that are traded around the world. In this short article, we take an in-depth look at trading shares in Australia, which many people take part in.
What is the ASX?
The Australian Securities Exchange is based in Sydney and is consistently ranked among the top-performing exchanges in the world. When trading shares, you need to join forces with a leading broker who manages a secure real-time trading platform.
Essential learning resources
No one would expect a novice trader to start trading with a few thousand dollars on a whim; indeed, there is a lot to learn before you start trading real shares. Your broker has all the learning resources you will even need, and some! Understanding the terminology is one of the first tasks; there are many acronyms used only in the trading world; most new traders spend at least one-month studying strategies and markets. There has never been such a huge amount of digital learning resources available to a novice trader; everything is at your fingertips and you can learn at your own pace.
2,000 + Australian companies are listed
When you trade on the ASK, you have access to more than 2,000 listed Australian companies, while your broker has cutting-edge analysis software to help you make the right trades. Successful trading is all about buying low and selling high; the ability to predict market forces is what every trader strives toward.
Brokerage commissions
As you would expect, your top-rated trading broker takes a small commission on every trade you make; he is a critical component in the system; you can go a long way when you partner up with the right brokerage.
Simulation accounts
Once you think you know enough to start trading, open a demo account that lets you actually trade without risking your capital. A demo account simulates the real trading arena and lets you become familiar with the terminology and the features without risking your hard-earned cash.
Industry knowledge
Would investing in superconductors be a good idea if you know next to nothing about the industry? The short answer is no! Start with sectors you know something about; someone with knowledge of gemstones might invest in shares of Australian mining companies or a person who has worked in the construction industry for years might trade shares of a master builder.
Trading begins with research to determine your investment goals; then apply the correct strategy and taking into account many variables, you can acquire shares in the hope their value rises. It is never a given that a trader will enjoy success; never trade when you are emotionally involved and make good use of specialised software to help you make the right trades.