Like any complex field, you need to study and practice. Investing requires knowledge and skill to be successful. If you don't acquire and use those tools, then your attempts at investing are actually gambles, and you are unlikely to win. I taught myself, because the pros I had given my initial investment money to were doing so poorly. I had a relative that was quite a good investor and used him for a guide.
Educational information is all over the net. Stick with the non-profit places like Investopedia. Read the books about the true pros- Benjamin Graham, Warren Buffett and so on. Avoid all the get-rich quick stuff, and there will be a lot of it. Learn how to read financials and particularly, study the management of prospective investments. Companies run by the best managers always do well- so when you find a CEO who always performs, stick with him.
Start cautiously, build experience. It will come.
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.
Investing can certainly be a great path to wealth.
Make it easy on yourself and invest in no-load mutual funds.
Diversify, it's also good if you can buy some residential investment property.
Also put a little in silver.
If you like risk you can trade bitcoins etc, they're very volatile, and people can make good profits, but you have to follow it closely, and don't risk too much.
b
Hi, I'm a 20 year old male, I'm a private contractor, I make about 6-7 k after my experience, I work 7 days a week 12 hours a day.
I keep hearing about investing and how investing is the new way of making money !
I have no idea how to invest also where and when.
I live in mississauga ontario. If someone can help I'll be greatful.
Thank you
