10 steps to start trading from home in Hong Kong
Trading from home in Hong Kong has been a popular trend for many years. So many people have chosen to work from their homes that home-based trading is quickly becoming one of the most trendy jobs available. If you want to start trading from home in Hong Kong, follow these ten simple steps to get you started:
- Familiarise yourself with the different investment products available in Hong Kong. There is a range of options to choose from, so make sure you understand the risks and benefits involved before making any decisions.
- Do your research. Know what you’re investing in, as well as which strategies you plan to use. It will lead you to make more informed decisions and minimise your risk exposure.
- Set up a brokerage account. It’s how you will buy and sell investments online, making it easy to manage your portfolio from home. Most brokers in Hong Kong offer a home equity plan, which allows you to use the value of your house as collateral for your investments.
- Pick out some great stocks. If you’re not familiar with the new economy, start investing in big companies like Tencent Holdings Ltd or HSBC Holdings plc. You can also invest in ETFs (Exchange Traded Funds), which track the Hang Seng Index or Dow Jones Industrial Average. If you’re looking for more of a challenge, you can venture into foreign markets.
- Calculate how much money you want to risk before opening an account and stick to it. It is crucial if you are trading with borrowed money.
- Decide what time of day you want to trade. Hong Kong stocks are open from 9 am to 5 pm, Monday to Friday. Consider what times of the day are best for you and which strategies you want to use.
- Stay disciplined.