If you’re looking for the very best ways on how to make $100 a week in stocks, then this article is just for you.
To make $100 dollars a week in stock is a realistic target, and it comes with a lot of discipline too. It’s really possible, but it’s not free because you’ll need some money to start trading eventually.
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Everything you’ll need to know to make $100 bucks a week in stocks is covered in this article just a few lines from right here.
With that said, here are 6 realistic ways or approaches to making $100 dollars a week trading stocks.
How to Make $100 a Week in Stocks: 7 Real Ways
Learn to Trade Stocks
If you want to learn how to make $100 a week in stocks, the first thing you’ll need to do however is to learn to trade stocks. I mean, that’s gotta be the very first thing. This is because you can’t get into what you have no idea about.
You’d be draining yourself out. Now, once you’re done learning what stock trading is, you can move on to other steps. First of all, you want to know what stocks are, how they’re bought, what they stand for, and how they’re represented.
Or calculated. Then you need to learn about stock trading terms, indicators and strategies. You’ll need to learn about support, resistance, technical analysis, price action and more. There’s much more to learn about but it shouldn’t take you more than 6 months to get the grasp of every basic thing you’ll need to know.
Even if you’re a total dummy. If you’re ready to start learning right now, there is a fat stack of information and tutorial videos, podcasts, articles about stock trading that you can learn with.
You don’t need to buy any course. I personally feel there’s no need. But if you feel the need to invest into knowledge monetarily, then that’s your call. With the help of Google and YouTube, you have more than enough knowledge on almost anything at your disposal.
Find Your Strategy
After learning to trade stocks, you want to settle for a strategy. Now this strategy has to be the kind that hardly brings the loss. In other words, it should have a really high win rate. Not a win rate of 54%.
It’s possible to have a strategy with a run rate of 90%. It’s a strategy; and it shouldn’t be an isolated one. What I mean is this; your trading strategy shouldn’t be linear. It should be drawn from a mix of other strategies and techniques.
Oftentimes, you’ll lose money if your strategy is wack and generic. It takes time to figure out a working strategy for trading stocks that works 90% of the time. Don’t just sit around indicators. It’s more than indicators, there’s more to explore in a bid to find that single trading strategy that almost never fails.
And when you find it, hold it. Tweak it. Test it over and over to make sure it’s really working out nice. It’s never going to be 100% accurate, no matter how hard you try to make it look.
Know Your Markets
Other than learning to trade stocks and getting the right strategy that works best for you, you’ll need to know your markets. Or the right set of markets to trade using that winning strategy.
Now, every market isn’t what you should just jump into. As a trader who wants to make money day trading, you need to get familiar with some markets, or just one. If you’ve been trading a particular market for a long period of time, there’s every possibility that you’ll definitely get familiar with it and know how it moves.
But if you trade just about any market, there’s no way you’ll keep track of the behavior of all the markets. Again, you want to trade strong stocks. These are the kind of stocks that have come to stay, and aren’t going to crash just any time soon. They’re stable and have the propensity to keep soaring in price.
Have a Trading Profit/Loss Benchmark
If your goal is to make $100 a week in stocks, then you’ll need to have a benchmark. Or a threshold. Say, you stop trading when you win or lose this amount of money in a day. Making $100 a week in stocks would mean trading to make a net profit of around $15 dollars.
This means you’ll need to watch your trades. You don’t want to get too greedy even if the trade is in your favor all day long. You want to take $15 dollars off the market and wait to eat another day. Same rule applies if you’re losing out big-time. You want to cut your losses once you’ve lost around $15 dollars.
Without a benchmark or a threshold to guide your losses and profits, you’ll be missing numbers and ultimately losing in the long run.
Prioritize Risk Management
When it comes to trading online, risk is a norm. It’s in every business, every trade whether it’s online or offline. Risk is a norm. Once you start trading to make $100 a week in stocks, you want to take risk management very seriously.
This will ensure that even if you lose, you’re not losing flat.
Terribly.
It’ll ensure you’re not blowing your entire account even if something bad happens in the markets. TP/SL orders are two very important risk management features almost every stock exchange has. TP stands for TAKE PROFIT, and SL stands for STOP LOSS.
With TP, you can set this to take profit from an open trade when the price appreciates to a specific figure. SL or STOP LOSS is an order to stop or end the trade or cut your losses should the price go against you and hit a particular figure. These are the fundamentals of risk management. It’ll make sure you’re not completely toast. But only if you configure them.
Avoid FOMO
FOMO is short for the fear of missing out. A lot of new traders, and even big time traders fall victim to the FOMO syndrome. Once you see that a trade is getting really bullish, you get into the trade late and kaboom!
The trade starts reversing, leaving you with a loss. And no other option than to cut your losses. It’s heartbreaking especially when your guts tell you not to jump right in but you still did anyway. After trading and winning lots of trades with a sure strategy, playing victim to the fear of missing out can wreck your portfolio and profits.
The market is always going to be there. Plus, there’ll be a new market to trade over and over. There’ll always be profitable markets waiting for you to eat them. That said, it’s entirely pointless to rush into trades.
The bottom line is, leave a trade that’s gone or that seems too late to take positions in. Once it’s gone, it’s gone. You don’t want to risk your hard earned money on trades that are overdue.
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Invest in Penny Stocks
Still thinking of how to make $100 a week in stocks without bothering about all you’ve read?
Then you can invest in a couple of penny stocks and watch them grow while you harvest $100 dollars every week. It’s easy to invest versus day trading. There’s only a probability that your accrued penny stocks will add a lot of value in a week.
And this is totally depending on how much money you invest into the penny stocks. With a little up in price in the stock market, you’re set to make money more but only with a fat trading/investing fund. So, you can skip the first 6 approaches or ways on how to make $100 a week in stocks and just focus on figuring out the best penny stocks to invest in for weekly profits.
They don’t have to be penny stocks. You could invest in solid stocks and watch them grow with time. If you’re patient enough, there are some really cheap company stocks that’ll appreciate massively in value over the next couple of years.
Your best shot?
Acquire hundreds or thousands of them while they’re still really cheap. Today, a ton of stocks are way expensive, but the reality is that they weren’t always so expensive. They simply appreciated over time. And holders of the stocks benefited aggressively.
How to Make $100 a Week in Stocks: 7 Real Ways – Summary
Making $100 dollars a week in stocks is realistic, but first of all you’ll need to learn to trade stocks.
Other approaches that follow after learning to trade stocks and understanding what the stock market is include having or finding the perfect strategy to trade with, getting to know the best markets to trade, implementing risk management techniques, having a daily loss/profit limit, avoiding the fear of missing out, and investing in penny stocks.
With all of these approaches, it’s really possible to keep $100 dollars off the stock market. Plus, the size of your trading capital counts too.