Stock Trading for Beginners: Where Do I Start?
So you’ve decided to become involved in the stock market but don’t really know where to start? Well first off, congratulations! The stock market is a great investment that can pay off huge when done right! Now remember, the first step is always the hardest in anything you do so we have put together a list of three fantastic ways to learn how to trade stocks like a pro!
1. Study
Obvious, right? We know, but the obvious steps are usually the most important. There are plenty of materials at your disposal, both on and off-line, that will teach you about the market. Books should be your first resource since they offer lots of in-depth information for a pretty cheap price, but don’t limit yourself to just that. Jump online and study all the financial news sites, blog articles and video tutorials you can find. We recommend Investopedia to start.
2. Find a mentor
Finding someone who is experienced in the market and willing to answer your questions will be a huge help. If you know someone who is familiar with the market use any knowledge they are willing to share with you, most of today’s successful investors started out with someone they could turn to when they got stuck or had a question. If you don’t know anyone already trading in the market, don’t worry—there are people willing to help. Once again we turn to the internet where we find thousands of stock market forums, Facebook groups and comment sections filled with other investors looking to help and be helped. You’ll find the communities to be extremely friendly and helpful so don’t be afraid to post your questions where they can be seen.
3. Learn from stock market strategy games
Once you have an idea of how the market works test out your new investing skills on online stock market games. These are great for beginners because they are risk-free (you’re trading with fake money) and give you hands on experience in what it would be like to actually trade in the market. You will find plenty of these games online. Mashable has put together a list of the top 5 stock market strategy games for beginners.
There you have it! Begin with these three steps and you’ll have a good base to start investing. Just remember the market is unpredictable, meaning that after all your studying and preparing you will still have curves thrown at you. But if you continue to study, ask questions and trade you will become a better investor. Good luck and have fun!
Vincent Bradley is a contributing author at StockBrain.
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Stock Trading for Beginners: Where Do I Start?
