Before We Start Go Here to learn all about the stock market, how it works, and vocab/ terms associated with it!
What is Trading?
Trading is an exact very different from investing, trading is buying or selling shares of a company with looks of capturing quick moves. Trading is considered to be the act of buying AND selling these shares of a company within a very short period of time. Traders usually will never hold shares of a company more than a few weeks or months, but some like myself can get out within the same day.
Trading is a beautiful thing, trading allows you to grow your money at an exponential rate. I personally have grown my account 20%+ in less than 3 months of trading, and i’m just some 17 year old newbie. Trading can allow anyone of any age, with any account size to grow their money very quickly, but its NOT EASY. Trading takes so much studying and chart reading, it’s insane, but i love it so much it doesn’t even feel like studying to me.
The main reasons why people trade is for time and financial freedom. While trading does require a lot of research and studying, you still get to have your own schedule. There is no boss, there is no 9-5, and there is no office. Achieving time and financial freedom will allow you to hang out with your friends more, spend some money on a nice watch or shoes, and not be stressed over going to work doing what you hate all at the young age you are.
Why Trading Is Good For Any One (EVEN Teens)
Trading is a great approach to the stock market for teens because it does not require an exponential amount of money to start, and has the potential of making great % gains. Yes all i care about and you should care about are % gains, if you continue to make 5%-10% a week or month, the money will come. And it will come so quickly you won’t even notice!
It also is good for teens to learn to trade now because they have less at risk. For example. If i blow my entire account next week, what happens to me? Its not an exponential amount of money like what a grown adult would have in their accounts. I wouldn’t loose my house, i wouldn’t be leaving children at home with out food. This is why i think trading is good to learn at a young age. If you blow everything, which will be only $500-$1000 bucks or so, you will still have many years to continue learning and will still be ahead of every other teen out there.
What makes Teens, especially athletes, great traders:
Your Determination, competitive spirit, different viewpoint on the world, and young energetic mind can allow you to become great trader. Traders must posses all of these aspects to become successful. I posses all of these attributes, which is why i am a great trader and entrepreneur.
Majority of Traders Loose!
Before you go and get all happy and tell your parents you are going to go make tens of thousands of dollars a month. I will tell you right now, 80% of traders loose money. Yes, 80%. Crazy right? It also is said that only 1% of day traders are predictably profitable. I don’t trade quite enough to call my self predictably profitable, but i do win more than i loose. I will have to say that me, Noah Oxley, a 16 Year old trader from Florida, with my 66.67% winning percentage am in the top 3-5% of traders in the entire world! Crazy right? I bet you are thinking I have to be a genius don’t I? Not at all actually, and I will teach you some things here and some things and in my blog, so go sign up for my blog here.
Why They Loose
There is one reason that every single trader looses.They are under educated in terms of trading and the market. They think its a get rich quick scheme and that anyone can do it. Which is COMPLETELY false, trading does show great returns after you put in your work. It is like learning to shoot baskets in basketball, you will stink at first but as you study, learn, and practice you will continue to make more “shots” or successful trades in this case, but you will always still miss and take losses, no matter what. And the earlier you start shooting hoops, the better you are by the time every one else decides they want to shoot hoops. This is the same scenario for the stock market. If you begin now by the time you are 30 and everyone else is wishing they stated early, you and i will be MILLIONAIRES! Yes, MILLIONAIRES! SO essentially the reason people loose is lack of knowledge, and that is why i am so successful, i have put in hundreds of hours into studying because i love this, and it is paying off. Now its your turn!
How To Start Trading As A Teen
First Things First you must EDUCATE yourself! So reading all of this lesson and taking notes will put you in the right direction! To further you advancement into the right direction, the direction of success and financial freedom, make sure to subscribe to me email list, keep up with my blog, follow my social medias, and STUDY! Studying is not like at school where you have to learn to regurgitate info. You must simply learn to see what is unfolding on the charts before anyone else does and act first, and the only way to do that is to study those charts. Also READ! Reading will always be the answer to anything! Here are the tops books traders, investors, and entrepreneurs can read!
Trading as i mentioned is a very risky thing, so i strongly suggest using a demo account for a few weeks or months until you find yourself winning more than 50% of the time. Also your biggest win must be 2x-3x+ bigger than your biggest loss. These accounts are called paper trading accounts and allow you to trade on the stock market with money, but not real money. This will allow you to learn how the market works without risking any of your hard earned money. Connect with me on Instagram or Twitter to show me your progress!
This is what i recommend to use when you first start off! Sign up and get an account now, its free!