How to learn stock market trading?
Shawn P asked:
I am a beginner,i know that stock market is a bit risky and returns are not guaranteed but if you go and follow right strategies things might work well for you.I just want to learn everything about the stock market. Are there any free guide’s or guru’s that can advise me.I have tried out in local community college but no luck.
Create a portfolio in Google, and see how you do first
I can be scary with real money until your up to speed
If you’re a rookie in investing or stocks, go to
.
Open up a portfolio without using real money. You can give yourself as much or as little money to try out the market. The stocks you want to focus on is consumer staples, consumer discretionary, and healthcare. These are DEFENSIVE stocks that will survive through good and bad times. Most of my positions are in these stocks. Some names include 3M, Procter & Gamble, Kimberly Clark, Exxon Mobil, Walmart, Costco. Everybody’s got to eat and wipe their ***** regardless of the state of economy. Many of these companies survived through the Great Depression.
That’s the benefits. You can sleep at night knowing your money is doing well. There are NO guarantees that you won’t lose money. It’s just that these stocks are the best. They pay good dividends too.
Then once you’re comfortable and test the waters of the market, you can finally put some real money in. Go to Scottrade.com. They’re excellent for beginners.
If you’re new to stocks, DON’T DAY TRADE. You’ll a rookie in a world of professionals. I tried day-trading with Citigroup and AIG when they were a little bit over $1. I had some luck at first, making about $30 a day but I was way over my head. My luck didn’t last long and I had to rethink my strategy.
Day trading involves A LOT of commissions to the broker. With all the commissions deducted from each trade, you’ll be lucky if you only lose half your money.
I would just day trade using Yahoo! Finance. Open a stimulation account, give yourself $100 worth of fake money and play it in the stimulation format. You’ll see what I mean by losing money every easily.
Good luck.
get involved in a pyramid scheme.
Hey Shawn,
knowledge about the stock market and especially the American Stock Market is available in abundance on the internet. In fact there is so much information that one could get lost trying to make his or her way around. I have infact taken a step towards trying to simplify the topic in my blog. The basic fundamentals of the stock market would pretty much remain the same through out.