Begin your education by learning why you should invest and the importance of being able to make your own decisions or how the pro’s make theirs. Start your education by reading “Investing for Dummies” by Eric Tyson.
To continue your education select some of the following
Beating the Street by Peter Lynch
Bulls Make Money, Bears Make Money, Pigs Get Slaughtered, by Gallea
From Riches to Rags, by I.C. Freeley
How to Make Money in Stocks” by William O’Neil
24 Essential Lessons for Investment Success by William O’Neil
The Intelligent Investor, by Benjamin Graham
Common Stocks, Uncommon Profits, by Philip A. Fisher
One Up on Wall Street by Peter Lynch
Stocks for the Long Run, by Jeremy Siegel
Uncover the Secret Hiding Places of Stock Market Profits by Joel Greenblatt.
What Works on Wall Street by James O'Shaunessey
You Can Be a Stock Market Genius by Joel Greenblatt
Your Money and Your Brain by Jason Zweig
Websites that can provide instructions and help with procedures and terminology are Investopedia - http://www.investopedia.com/ http://www.investorshub.com/ and 1 Source for Stocks - http://www.1source4stocks.com/info/stock... or Smart Money
http://www.smartmoney.com/
Visit some of the more professional websites like Zacks Research - http://www.zacks.com/ Schaeffer’s http://www.schaeffersresearch.com/ Investors Business Daily - http://www.investors.com/default.htm?fro...
Some of these web sites will have advertisers who are worth looking into also. And remember, if they offer free information, get it.
Attend all the free seminars you can, just be careful and don’t get pressured into anything you really don’t want or need. Most schools offer courses in finance and economics, but very few will have courses on the mechanics of the investment markets, if they do try taking the course. You may want to consider on-line courses, the New York Institute of Finance use to have such courses. Try to get some fee information from The stocks exchanges they all have (had) free booklets, SIAC and some of the regulators (FINRA SEC MSRB CBOE) may provide some free literature.
And when you think you want to invest/trade, try some paper trading to test your skills without spending you money http://simulatorinvestopedia.com/ http://www.moneyworks4me.com/
and/or http://www.tradingsimulation.com/
You at least have made the right decision to start investing, this is the first big step and it won’t be your last. Keep taking those steps forward and along the way never take the advice from people that are not in the market or try to tell you not to invest.
Good luck on your journey, study hard and you’ll invest well
Read, read and read some more. I'd also recommend catching up on Wall Street news via sites like seekingalpha, market watch and google finance or through podcasts on iOS, Stitcher Radio, etc. Being aware of the current market trends, seeing how stocks move is by far the best way to get used to understanding the nuances of the stock market rather than going in head first and losing money.
Good luck!
PS: When you're ready to open an account feel free to use my Scottrade referral code. It will give you 3 free trades ;) - KAXF8815
take an investment class at your local community college for starters
read the S&P rating book sheets
go to the library and check out Zacks Investment Reserach
go to the library and read Investor Business Daily Newspaper (it is excellent)
read Jim Cramer's books (all of them)
start with high quality stocks, maybe even ones which increase their dividends yearly
this knowledge does not come in a day or a week or a year, it is an investment in your time!
My recommendation for anyone that doesn't know stocks is to sign up for thestreet's actions alerts. You can buy and sell with professionals that way and it takes your guessing out of it. I do that and I think its been great, if its to expensive then get together with a few people and chip in on it. Thats my recommendation.
Alright, I'm 30 and I have a good chunk of money sitting in the bank. Don't worry, I also have plenty stashed away for retirement through my job. I want to try my hand at online investing. I'm not looking to become a millionaire or anything, just something to bring in a few extra bucks here and there. Plus, it would be a good opportunity to see if I was decent at trading.
I already set up an account at Scottrade although I have yet to stock it with any money to be able to trade. I am looking for the bare bones basics about trading! Where to get started, etc? I feel like I've been thrown in to the site to explore, but without any organization or context I don't know what I'm doing.
Are there any videos or tutorials that is essentially "Stocks for dummies"?
OR does anyone have any helpful tips/suggestions so that I may be on the road to trading?
Thank You!
