08.07.2021 » How to invest like Ronaldo on trading platforms
Cristiano Ronaldo has won many titles and awards during his professional career, including several Premier League titles, Champions League titles and European Championships. No one denies that he is already among the top sportsmen of his generation, having broken several records in his career and won numerous titles. Breaking records and signing endorsement deals with leading brands like Clear Shampoo, Herbalife and Nike comes with a lot of money too.
Cristiano Ronaldo has accumulated an impressive net worth of about $500 million owing to his acumen in investing his earnings in the right places. If you want to grow your net worth as much as this football legend, trading platforms are your best choice. A trading platform denotes a software application that gives you unlimited functionalities to browse financial instrument catalogs, monitor accounts, and trade through brokerage firms.
With the best trading platform, you pay lower fees than when trading in a brick-and-mortar company and can easily get market signals from leading traders to help you make the right moves. You can also monitor your investments in real-time and have access to several tools that maximize your profits. To guarantee you grow your net worth like Cristiano Ronaldo, here are five steps for investing on trading platforms...
Cristiano Ronaldo - The businessman:
Open a brokerage account
When investing in stocks online, you need a brokerage account. This is an account meant to hold investments. If you do not have one, you can open one within a few minutes with the online broker you have chosen to handle your investments. Opening an account does not necessarily mean that you have to deposit money in it right away. Some brokers have the option of opening an account then depositing money when you are ready later.
Set your stock trading budget
Having a budget for online stock trading keeps you from failing to meet your financial obligations in case you do not make the profits you envision. After getting a budget, allocate funds to different stock options. Most experts recommend keeping your portfolio to not more than 10% for individual stocks so that you do not expose your cash to too much risk. Do not use money that you have earmarked for must-pay or near-term expenses like rent to invest.
Learn how to use limit and market orders
Once you have a budget and brokerage account in place, use your online broker’s trading platform to trade stocks. You will have several order options on the platform dictating how your trade will go through. The two leading options are the limit and market orders. With the market order, you sell and buy stocks ASAP at the best prices available. With a limit order, you only sell or buy stocks at a better price than what you set or at the exact price you set.
Practice trading with a virtual account
Though most day traders believe they can make money, a large percentage end up with net losses. Mistakes can be costly in stock trading. As such, before you trade anything, take time to learn about the market and how best to make profits. Most trading platforms offer low-pressure, hands-on experience for new traders using virtual trading tools. Use this before starting your online trading. A virtual account will help you test your trading understanding while building a track record for you before putting real dollars on the line.
Measure your returns against appropriate benchmarks
Investing in the stock market does not mean that you will always win even with the right stockbroker and trading platform. It is best to know how to measure your profits so that you are not disheartened into quitting. Pick a suitable benchmark against which you can measure your returns.
Some of the popular benchmarks include the Nasdaq Composite Index and the Standard & Poor's 500 Index. There are several smaller indexes based on the geography, industry, and size of a company. Your goal is to outperform a benchmark. If you fail to do this constantly, you can consider investing in an ETF or low-cost index mutual fund whose performance aligns with a specific benchmark index.
Growing as huge a fortune as Cristiano Ronaldo does not mean waiting until you hear of the next big breakout stock to invest in like everyone else. There are thousands of stocks that you can invest in daily to grow your net worth slowly. With the steps above, you are sure to gradually increase your portfolio and get enough money to invest in other options if you so wish.
To ensure you not only survive in the stock market but grow in leaps and bounds, lower your risk, and carefully consider your stock options. Be careful about the "hot tips" touted as the best investments by shady folks. These are often pump-and-dump rackets where you lose a lot of money when the crooks dump their shares after driving up share prices.
Cristiano Ronaldo next game for Juventus is on August 1, against an unknown opponent. You can watch Juventus vs, Argentina vs Colombia, Italy vs Spain, England vs Denmark, Brazil vs Peru, and USA vs Canada, all matches provided from our live soccer streaming game pages.
Juventus next game:
Juventus vs ? kick-off time (01-08-2021):
Beijing (China) | UTC/GMT+8: 03:00
Jakarta (Indonesia) | UTC/GMT+7: 02:00
India (New Delhi) | UTC/GMT+5.30: 00:30
Italy (Turin) | UTC/GMT+2: 21:00
Spain (Madrid) | UTC/GMT+2: 21:00
Portugal and England (Lisbon/London) | UTC/GMT+1: 20:00
Rio de Janeiro (Brazil) | UTC/GMT-3: 16:00
New York (United States) | UTC/GMT-4: 15:00
Los Angeles (United States) | UTC/GMT-7: 12:00
Sources: ronaldo7.net / tradingplatforms.com / berkeley.edu