You can buy Tesla stock (TSLA) online by opening a leverage position through CFD (Contract for Difference) trading platforms like Skilling. This means you can trade a portion of Tesla’s stock value without owning the actual shares. By using leverage, you're able to control a larger amount of stock with a smaller amount of money upfront. However, while this can increase potential profits if Tesla’s stock price goes up, it also increases the risk if the price goes down. Therefore, it's important to use risk management tools such as stop-loss orders to help protect your investment against significant losses.
Why consider buying Tesla stock?
Considering buying Tesla stock may be attractive for several reasons. Tesla is a leader in the electric vehicle (EV) market, continuously pushing advancements in technology and sustainability. Their expansion into renewable energy solutions like solar panels and energy storage further diversifies their business model. Tesla's strong brand recognition and loyal customer base also contribute to its robust market position. Furthermore, Tesla's proactive approach to innovation and global expansion could drive future growth. However, investors should be mindful of the high market expectations and valuation, which could introduce volatility and risk.
How to buy Tesla stock CFD through Skilling
Step 1: Set up a Skilling account
Create an account: Visit Skilling and register for an account. You will need to provide personal details and complete the identity verification process to comply with financial regulations.
Deposit funds: Once your account is verified, deposit funds using your preferred method. Skilling supports various payment options like credit cards, bank transfers, and e-wallets.
Step 2: Research Tesla stock
Market analysis: Before trading, it's important to research Tesla’s current market status, including recent performance, news, and analyst forecasts. This will help you make informed decisions.
Technical analysis: Utilize Skilling’s trading tools and charts to analyze Tesla’s stock price movements and identify potential trading signals.
Step 3: Find Tesla stock on the platform
Locate Tesla CFDs: Log into your Skilling trading platform and use the search function to find Tesla CFDs. Tesla is usually listed under its ticker symbol, TSLA.
Step 4: Place your trade
Choose your position: Decide whether you want to go long (buy) if you think Tesla’s stock price will rise, or go short (sell) if you anticipate a price decline.
Determine your trade size: Decide the amount of money you want to trade. Remember, CFD trading uses leverage, which can increase both potential profits and losses.
Set risk management orders:
- Stop-loss order: Establish a stop-loss level to automatically close the trade at a certain price to minimize potential losses.
- Take-profit order: Set a take-profit level to automatically close the trade at a predetermined profit target.
Step 5: Monitor and adjust your trade
Monitor your position: Keep an eye on the market and Tesla’s price movement. Adjust your stop-loss or take-profit orders as necessary based on changing market conditions or your trading strategy.
Step 6: Close your position
Close manually: You can close your position manually through the platform when you feel it's the right time.
Automatic closure: Alternatively, the position will close automatically once it hits your stop-loss or take-profit levels.
Step 7: Review and learn
Evaluate your trade: After closing your position, review the outcome of your trade. Analyze what went well and what could be improved for future trades.
Experience Skilling's award-winning platform
Try out any of Skilling’s trading platforms on the device of your choice across web, android or iOS.
Tesla competitors
1. NIO Inc.: A Chinese automobile manufacturer headquartered in Shanghai, specializing in designing and developing electric vehicles. NIO is often touted as the Tesla of China due to its innovative EV designs and substantial market presence in China.
2. Ford Motor company: With its long history in the automotive industry, Ford has entered the EV market with models like the Mustang Mach-E and the electric F-150 Lightning, targeting Tesla’s dominance in electric cars and trucks.
3. Volkswagen AG: The German automotive giant has been aggressively expanding into the EV market with its ID series, aiming to compete across multiple segments of the electric vehicle market.
4. General Electric: In the energy solutions sector, General Electric competes with Tesla’s solar and energy storage products. GE offers a range of energy solutions including renewable energy technologies, which overlap with Tesla’s energy business.
Identifying opportunities to buy/long Tesla stock
- Market trends and conditions: It’s important to understand broader market conditions and how they might affect Tesla. For example, a bullish stock market or positive news about the electric vehicle (EV) industry might present a good opportunity to buy Tesla stock.
- Company performance: Review Tesla's financial reports and performance indicators like earnings growth, revenue, profit margins, and new product developments. Positive results or favorable forecasts could indicate a good time to invest.
- Industry developments: Keep an eye on developments within the EV and renewable energy sectors. Advances in technology, changes in consumer demand, and government policies supporting green technology could positively impact Tesla’s business prospects.
- Stock price technical analysis: Analyzing the stock's price movements and patterns could provide insights. Buying during a trend of increasing prices might suggest continued growth, whereas identifying support levels during price dips could offer potential entry points for long positions.
- News and events: Significant company events such as product launches, regulatory approvals, or strategic partnerships could affect stock prices. Positive news might suggest a good time to buy, whereas controversies or legal issues might warrant caution.
- Risk management: Always consider your own financial situation and risk tolerance. Ensure that buying Tesla stock aligns with your overall investment strategy and portfolio diversification.
How much does a Tesla share cost
As of the time of this writing, a single share of Tesla is trading at around $223.51.
Below is the live price chart of Tesla (TSLA):
Conclusion
As you've seen, Tesla stock can be bought in various ways, including through CFD trading platforms like Skilling, which allows for potentially leveraging your position to control a larger amount of stock with less capital. However, this method also introduces higher risks, especially given the volatility associated with Tesla's stock price. While trading, ensure you implement strong risk management strategies. Use tools like stop-loss orders to mitigate potential losses and take-profit orders to secure gains. Always stay informed about market conditions and Tesla’s company developments to make educated decisions. Source: investopedia.com
