frequently asked questions

Can I become a trader?

The stock market is a great leveller and anyone can become a trader. All you need to get started is sufficient desire and persistence.

What returns will I make?

This depends on many things – the market conditions, the strategy you use and your risk tolerance. This question highlights why good education is so important. You need to first learn about the stock market and the various strategies you can trade. Next, you need to apply a suitable trading strategy for the current market conditions. And finally, discover your own level of risk tolerance. Everyone is unique and has his/her own limitations. Wealthwise can step you through each of these learning stages on your path to becoming a skilled stock market trader.

Many people have a ‘get-rich-quick’ approach to the stock market. A very important part of the Wealthwise process is to have you focus on becoming an disciplined trader and allowing the returns to follow.

What ‘things’ do I need to trade?

You can trade from anywhere. All you need is:

• personal computer
• software charting package
• stock market data
• internet connection
• suitable stockbroker

Do I need to be a computer expert?

No. Most charting software packages like Metastock, have a Windows ‘look and feel’ and are very easy to use. So if you've used products like Excel or Word you shouldn't have any problems.

How much time will I need to spend trading each day?

Once again, this depends on you. You can learn how to analyse the stock market in less than an hour a day however, when you first start it will obviously take you longer until you build your confidence and skills.

How long will I take to become a skilled trader?

Trading is a very personal thing; there are no time limits or deadlines. Most people start out using the ‘learn by my mistakes’ approach and take many years to generate their first real profits.

With the proper education, you can learn by other people’s experiences enabling you to fast track your own success.

“Gain the knowledge and apply it diligently.  When you take the time to learn the skill, the profits will follow.” - David Novac

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