It’s Sasha Evdakov founder of Rise2Learn and in this video segment I want to share with you how you can learn to trade if you are in college and the process and the sequence that you should go through if you are still in school or studying.
I love this topic because I'm so passionate about young investors in college student and I think it's a very important and healthy topic for people to get into investing early on in their careers so the main dilemma is what's the step or what's the process to go through if you are in college with a limited bank account and you still want to learn to trade or invest in the future on your own.
Well, I think just like anything there's a sequel and processed to it for example if you're looking to start a business you don't just all of a sudden hire 4,000 people on your first business that start you actually go through a little process, you go through a step-by-step sequence you might go out and scope a location you might hire two or three people but at least start things on your own and then you evolve things step by step until growth is necessary.
The same goes with the stock market you definitely don't want to start with putting all the money that you have for college into the stock market. Now yes it could gain new results and it could gain some more money but the thing is, the chances are you're not going to be successful your first time around just like you're not going to be successful on your first business venture it may take some time to figure things out.
So be patient and see how things play out step by step. The better route to take is first off to recognize yourself to look at your supplement outside perspective and see how motivated and how dedicated you are really.
If you're really dedicated then by all means I highly encourage you to take things into your own hands and start building the structure away start making something of yourself but if you tend to give up, if you tend to quit, if you tend to break down pretty easily well stay away from the stock market because it's going to smack you around all over the place and you're just going to be hurt.
Take a moment, step back and recognize how motivated and how dedicated are you but you’re going to probably fail at the beginning when you're first learning to trade. You’re going to have failing trade, you’re going to have have a lot of losers and will probably fail initially but that's okay as long as your dedication and your motivation and you constantly continue drive yourself to be motivated, continues to persist on because if you keep doing something I believe that if you keep continuing on practicing something eventually you'll get better at it and eventually you’ll get started to recognize things that you’re doing wrong and things that you're doing alright.
That way you can take advantage of the things that you’re doing right, however if you're a quitter then you might as well stop right now and then go ahead and do something else. Go have fun with your money, go spend on a vacation, or go do something else. It’s just going to be a lot better for you.
Now if you are motivated if you are dedicated and if you want to put the time and effort into it may take months it may take years for you to figure things out and put things into perspective to where you’re trading consistently.
If you are aware of this you recognize this and you have the motivation for it then the next step is to go ahead and learn how to trade on the stock market. You can go out and do some free resources out there there’s some free-trading investing seminar. They’re probably out there locally you can also start with looking at some of the videos that I have for free on my YouTube channel.
You can go read articles and investing ideas on various news website. There's so much information out there and it just takes time to digest. Now after you've watched a lot of free videos out there happy you got a lot of insight from the article, news pieces and maybe some seminars chances are they probably haven't hit you hard enough or you've got to put the pieces of the puzzle together.
Normally a lot of the video programs out there just kind of hit a little bit here on this topic, hit a little bit there on that topic and you have to put the puzzle pieces together. Now I have tried to bridge that gap with some of my video courses for example taking the basic level entry stock trader from my understanding the stock market course, to a little bit more of an intermediate trader concept to stock trading foundational course that I have, because a lot of DVD's and videos out there just kind of tackle one little subject to the next.
Whether you look at my courses or somebody else's you want to start putting the pieces together or you can do it on your own and then once you do that you're creating your own strategy, your own system, and your own techniques to where you’re able to trade a little bit with paper money and now with paper money your trading with fake money in the stock market.
Now you can sign up with the paper trading account whether it's on a paper trading website just search for it on any of your search engines or free paper trading account or trading play money or trading simulator but if you don't find one you can always do it the old-fashioned way just go ahead and use a pad & paper, write down when you enter the stock, write down where you exit the stock or look at how to trade some of the option spreads if you're doing options spreads with maybe a simulator.
Again, then work with paper trades, once you’re consistent with paper trading then you want to take your skills and apply it to real shares because that's where all the psychology that's where a lot of the fear, the greed, and a lot of the emotions start kicking in, it’s when you’re actually using your money and you want to start with a low share count.
You don't want to escalate yourself to trading your full account right away. You want to start trading a little bit shares. Let's say you have a ten thousand dollar account and at first you might want to just trade with five hundred dollars and with that five hundred dollars trade it for six months until you're consistent then maybe bump it up to two thousand dollars and again trade it for six months until again you bump it up to maybe trading with five thousand dollars and again trade it for six months until you’re consistent.
That's the way you go about trading systematically and learning and taking your education to the approach because you can get a lot of insight, you can get a lot of information you can get a lot of knowledge but until you put it to the test until you actually metabolize it and put real money to work that's when you're really actually learning.
It’s when your behavior matches up with what you're doing everything else is just theory as one of my mentors always says. So everything you learn is just theory until you put it into place.
I hope that's helpful if you're in college and if you're learning to trade by all means good for you because most people do not understand investing whatsoever and they don't understand stocks at all so take money into your own hands because you're the one that's going to take the most care out of it, your broker won't do that for you.
Thanks again and remember to do what you love, contribute to others, and most importantly live life abundantly.