The main purpose of management of personal welfare of each human is to save and increment. The stock market offers instruments for successful management of personal finance.
Get more details as on how to efficiently use the stock market's opportunities for reaching financial welfare
Before you start trading on the stock market, you have to determine three signifcant factors for yourself:
Choosing a broker
Choice of strategy
You should discuss your future plans, preferences and financial capacities with your broker. As a result of the discussion, you need to arrive at a clearly elaborated strategy, which you will follow and upon which you will act. It is important to have a clear operational strategy in place to be successful on the stock market like in any other spheres of life.
Terms of service
You need to enquire about terms of your cooperation from a broker (broker's rates, documents, terms of information exchange). You need to clearly understand which documents you need to provide to a broker and which ones the broker provides to you.
Entering into service contract
If you have chosen a broker, contact him/her to sign a brokerage service contract (you will require identification documents). Usually, a broker may suggest two cooperation options: ordinary brokerage service and fiduciary management of assets
Trading terminal is the main tool for working on the stock market. After signing the service contract, the broker will suggest you to install and configure a trading terminal on your computer
You will need to transfer the amount of initial investments
You will need to transfer the desired part of monetary assets for crediting them to your trading account
Purchase of securities
You may purchase securities and use them in accordance with your investment strategy as you now have an installed trading terminal, Internet access and monetary assets on your trading account