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Friday, September 2, 2011

10 Great Ways to Learn Stock Trading as a New Investor


10 Great Ways to Learn Stock Trading as a New Investor

New investors taking their first steps towards learning the basics of stock trading should have access to multiple sources of quality education. Just like riding a bike, trial and error coupled with the ability to keep pressing forth will eventually lead to success.

One great advantage of stock trading lies in the fact that the game itself lasts a lifetime. Investors have years to develop and improve their knowledge. Strategies used twenty years ago are still utilized today. The game is always in full force.

So far new investors wanting to take their first steps I offer 10 great answers to the simple question, “How do I get started?”

1. Open a Stock Broker Account
Find a good online stock broker and open an account. Become familiarized with the layout and to take advantage of the free trading tools offered to clients only.

Some brokers even offer free simulator accounts which are extremely beneficial because you can trade with play money. You can find here at my broker comparison page and try to read how to open citiseconline brokers account.

2. Read Books
Books provide a wealth of information and are usually inexpensive. Download some free e-books. You can find some of this at my recommended e-book pages.

3. Read Articles
Articles can serve as a fantastic resources and are usually easy to understand and follow. In this blog you can find investment articles broken down into categories. Try to read some.

4. Find a Mentor
A mentor could be a family member, a friend, a past or current professor, co-worker, or any individual that has a fundamental understanding of the stock market. A good mentor is willing to answer questions, provide help, recommend useful resources, and keep spirits up when the market gets tough. 

All successful investors of the past and present have had mentors during their early days. In my case I join Truly Rich Club of Bo Sanchez as my source of information where I received an stock update twice a month.


5. Ask Lots of Questions
Having a place to ask questions and receive answers is a huge asset for any new investor. In school asking questions to a teacher/instructor/professor or leveraging online stock forums there is always someone readily available to help the cause.

6. Browse Financial News Sites
News sites such as Yahoo Finance and Google Finance serve as a great resource for new investors. By reading headline stories investors can expose themselves to different stock terms for example. Pulling quotes and observing fundamental data can also serve as another good source of exposure.

7. Consider Paid Subscriptions
Paying for research and analysis can be both educational and useful. Some investors may find watching or observing market professionals to be more beneficial than trying to apply newly learned lessons themselves. In my case I join and subscribe to Truly Rich Club of Bo Sanchez as my source of information where I received an stock update twice a month.

8. Watch TV
When the stock market is open turning on TV for 15 minutes a day will broaden an investors knowledge base. Don’t let the lingo or the style of news be a nuisance, just simply watch and allow the commentators, interviews, and comments to soak in. 

Note though, over time you may find that a lot of the investing shows on TV are more of a distraction and overall full of crap. This is a natural occurrence; you are not alone!

9. Go to Seminars
Seminars can provide valuable insight into the overall market and specific investment types. Most seminars will focus on one specific aspect of the market and how the speaker has found success utilizing their own strategies over the years. Note all seminars have be paid for either. Some seminars are provided free which can be a beneficial experience, just be conscious of the sales pitch that will almost always come at the end. Truly Rich Club of Bo Sanchez offers seminar also.

10. Subscribe to Moneygurado
Receive my posts via email or subscribe via a reader. I invite all new investors to Moneygurado a part of their daily investment routine.



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