Despite some controversies in 2018, Facebook recently posted a 30% jump in profits.
For people that have money in Facebook, this is fabulous news. But if you don’t own any Facebook stock, you may feel left out, as you sit on the sidelines and watch other’s make money.
Fortunately, it’s not too late, and if you know how to predict changes in the price of Facebook stocks, you can still make money.
Read on to learn how you can make a tidy profit from Facebook stock. Whether you’re a fan of the platform or not, these tips will show you how to win whenever Facebook does.
1. Pay Attention to Key Dates
If you want to make money as a result of trading Facebook stock, it’s vital you pay attention to key dates associated with Facebook.
For instance, you’ll want to find out when the company is going to issue its earnings report.
The sentiment surrounding the earnings reports can have a large impact on whether the price goes up or down.
You’ll also want to pay attention to specific dates associated with Facebook and its interactions with the government. This is because government interference can affect the stock price.
This happened recently when executives attended a Senate hearing. During this event, Facebook stock experienced a severe decline.
Predicting how these events will impact the price of Facebook stock is difficult. That said, some websites will offer a Facebook stock prediction service, making it easy for you to figure out if you should buy or sell.
2. How to Buy Facebook Stock
If you want to buy Facebook stock, you can use the services of a broker, or you can set up an online trading account.
When choosing a broker, you’ll find that there’s the option of using a ‘full-service’ broker or a ‘discount’ broker.
A full-service broker will provide you with advice on your trades and will guide you towards making profitable decisions.
A discount broker will not provide you with this advice, and all they will do is execute trades for you.
An online trading account provides you with a lot of freedom as you’re the one that’s executing your trades. Of course, this freedom can be dangerous, as you have no one to double check your trading decisions.
3. Be Wary of Other Tech Companies
If a tech company posts poor results, it can lead to other tech companies experiencing a decline in stock price. This phenomenon was apparent in 2018 when tech stock prices all experienced a severe drop.
Because of this, it’s vital you pay close attention to what is going on with the other large tech companies.
The main companies you’ll want to focus on are Amazon, Netflix, Google, and Apple. Think about setting up some alerts, so that you’re notified of any significant news related to these companies.
Time to Buy Some Facebook Stocks?
If you want to make money as a result of trading Facebook stocks, the tips in this post should help set you on the right path.
Though it can be helpful to focus on just one stock, you should eventually think about trading more than just Facebook. In doing so, you should be able to maintain a positive trading account, even if Facebook is having a lousy quarter.
Making money as a trader isn’t going to be easy. But if you focus on making rational decisions, rather than emotional ones, you should end up with more wins than losses.
Think you might make a mistake when trading stocks? Read this post to get some helpful stock purchasing tips.