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where can I learn how to play the stock market?
March 28, 2008 on 5:59 am | By advertising | In marketing |Related posts:
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Now is the time not to play the markets!
Comment by DUCK — March 28, 2008 #
You may visit websites like:
http://www.investopedia.com
http://www.fool.com
They offer good understanding for anyone..
This is the time to learn as much as you can on the market, its behaviour and types of players.
Comment by Venugopal — March 28, 2008 #
Be careful of terms like "play" the stock market. To be successful you have to work. Only gamblers and losers "play" the stock market.
Read as many books on investing as you can. Add a few "psychology" of investing books also. Take your time. Have a plan. Always be realistic. Always have an exit plan before you buy a stock. Understand risk. Understand "asset allocation". Understand (and practice) position sizing.
Don't buy stocks because you "think" or "heard" they'll do well.
Never take tips.
Always understand what you're invested in.
Web sites I like;
http://www.alphatrends.net/
http://www.thekirkreport.com/
http://www.morningstar.com/
http://www.investools.com
https://www.shadowtrader.net/
http://www.redoption.com/index.php
http://www.slopeofhope.com/
Comment by Common Sense — March 28, 2008 #
Definitely check out http://www.tickerhound.com as well…it's like Yahoo! Answers but strictly for investors.
Comment by TickerHound.com — March 28, 2008 #
books books and more books
Watch Jim Cramer's Mad Money its on CNBC
6:00 pm and again at 11:00pm Mon-Fri
Its a great show that talks about stocks and gives investing ideas
I learned huge from this show and I bought allot of Cramers Books
Investing is great money, DO IT Another Great show is
Fast Money on at 5pm on CNBC
Great way to learn investment strategies
Then open a brokerage account like Etrade and then just trade with very small amount of shares, example
buy no more than 10 shares so you can get the feel of the market. Thats how I started and thank God I did because if I thought I knew what I was doing and bought large lots I would be screwed big time. By buying shares in small quanities I saved myself from loosing my account and I learned how to handle the market. Do this small trading for at least a few months. It took me at least a year to get all the knowledge down to a basic understanding.
Watch Cnbc any chance you get so you can learn the stock lingo- That is important,
You must have an understanding of market talk so you know how to position your trades. In the beginning I didn't really understand how to interpit the way the market was and that lead me to huge trading errors.You will loose in the beginning, its a fact. I read a book that said this about trading and I didn't believe it . My problem was when I started making big money I got careless and over confident.
One day I made $10,000 in one day on Apple and I was so confident that I invested it all back to Amazon because I knew for sure that Amazon would have good earnings. I was wrong. before I knew it I lost half of my new Apple earnings in minutes. I was bad and I felt sick. I actually froze at the screen and my mind went blank when I saw my profits Apple profits disintigrate.
My PERSONAL rule: Always test what you are sure of, better to miss out on the first few dollars of a big ralley then to speculate. Once I got that rule down I invested much wiser .If you end up profiting big in the beginning take a couple days off to cool down and shrink your head, do not jump back in till you have a chance to regroup.
Big gains can lead to fast losses
as I have learned. By taking a day or to off from the market seems to clear your head. I would suggest doing this untill your become numb to winning and losses. Watch Europhia feelings!
Best News Papers:
Get Wall Street Journal, Barrons and Investors Buisness Daily Subscriptions and read them as much as you can tolerate.If you can only afford one then choose Barrons: Make sure to get it on the weekend and read it before you invest on Monday.
Watch what companies are being talked about and keep on current news. If for example a category 4 hurricane is coming to Florida Iwould buy a stock that has Orange Juice or if a bad storm wiped out an Oil Rig or hit a Gas refinery look at buying some kind of OIL stock. Those are mother nature tips. Yes people profit of tradgedy,sad but true
if it makes you feel guilty then donate your earnings to the RED CROSS…
Stay away from people asking you to buy thier investing system,Learn your own way and create your own stradegies. Your best stradegy should be market homework which consist of studing the stocks you want to invest in.
Alot of people invest part time which is fine, I do it full time because I love the challenge. Whatever you do just invest/trade to trade well. If you look at your gains or losses in numbers you will be freaked out. Keep those ideas in mind but dont place focus on them. Trade/Invest to do it with skill and wisdom. Do it with confidence or don't do it all cause insecurity will bring you down.
Good Luck and have fun!
Comment by Utopia — March 28, 2008 #