A lot depends on how much you want to trade. For example, if it is 500,000 kronor, you might want to leave it in your account. You can get a pretty good interest rate there. But if you want to trade with 5 million, it is worth considering trading on the stock exchange. You won\’t make much profit on the account, but it just ensures that the value doesn\’t fall and remains constant.
The first and perhaps most important rule that you should not spend it all
is that you should not spend all your money in the stock market. You must leave some of it in money-making real estate or money-saving accounts. In short, keep some back door and always have some security.
Furthermore, if you rent out your own real estate, this is a classic example of how a business should be run. So I invest at least half in certain investments like the one I just mentioned, and I also use half for stock trading. The minimum capital to start such a transaction is 100,000 kronor, but the optimal capital is 300,000 kronor.
If you know English, you can trade on your own. Each transaction pays between $1 and $2. If you do not speak English, you need a helper and must share with someone.
Broker Trading
You can also trade through a Czech company. All you have to do is register with the brokerage firm and you can discard all the English. In this case, you will appreciate not having to know a foreign language, but you must still be prepared to pay much higher commissions. You will not save any time, and you will have to pay more money for the transaction plus more money for the broker. It is just a tax on not knowing English!
Try before you start!
Doing dummy trades is something to try before you actually tradeAnd when you start, don\’t put everything on one card, or one trade. Diversification is good, but try not to make too many small trades. Investing in different sectors and industries is also quite good.
Reading and researching
Always gain knowledge is important and can make you a wealthy person while also spending a lot of time.
Any last advice? No stock is so great that it keeps going up. So be careful!