I'm pretty sure I couldnt do it on my own, but at the same time I do not want to be losing money overpaying some company that is only out for themselves. I really hate those places that charge you for every little thing they can.
Are there any classes I can take that would make me more buisness savy?Do you have any advice for a rookie investor?
In the beginning “newbie” traders and investors DO NOT INVEST THE FIRST cent or dollar. No amount of money.
In the beginning you LEARN HOW:
A] the stock market works.
B] to invest in many, many various ways.
C] to properly trade
D] many other concepts and aspects.
Beginning or novice ['newbies';] investors and traders ALWAYS make mistakes. In fact, throughout a person's avocation or hobby to do trading, he/she will make mistakes.
In the very beginning, you READ AND LEARN about the market and how it works:
Read ';Investing for Dummies';
As you are reading and doing research about the investments you are interested in, sometimes you'll come across a financial or investment term you never heard before.
You can usually find excellent, easy-to-understand definitions of many financial and investment terms by going to Investopedia’s dictionary.
http://investopedia.com is a free site. It’s recognized by Y! A as a ';Featured Knowledge Partner';.
It probably won’t be long when you’ll feel you’re ready to invest your hard-earned money. Before taking that step, you really should do research about what you are investing in. It also has a free, paper trading platform. You can set up a virtual account and almost trade as though you were trading with real money.
http://finance.yahoo.com is also recognized by Y! A as a ';Featured Knowledge Partner';
END E-MAIL #1
The thought processes are:
1] to have more successful trades than failing trades.
2] to minimize the losses of those losing trades.
3] ';To live to trade another day.'; Having enough money in the trading account to return to the market.
ALL this is accomplished by a few true expressions used on Wall Street:
Some trading expressions come to mind:
A] ';On Wall Street there aren't any gifts.';
No one gives anyone else anything - not even stock tips.
B] BUlls [BUyers] earn money.
BEars [SEllers] earn money.
Pigs get fat.
Hogs [Greedy Traders] get slaughtered. They lose the money in their trading accounts.
C] ';Trees don't grow to Heaven. Neither do stocks or any other investments.';
In other words: What goes up, MUST come down!
D] ';Plan your trade. THEN trade your plan!';
Have a trading plan with rules for that plan for each strategy.
$____ may not be enough for you to get started. I want everyone to know I DO NOT own any portion of this man’s estate, nor am I associated with him or any one else connected with him in any way. I am not part of the publishing company or an agent or anything else. This man does not know me from Adam AND I don’t know him. I know of him and the wonderful book he wrote. THIS IS NOT SPAM.
You should buy a copy of this book:
“The Richest Man in Babylon” by George S. Classon. You can get the book on http://amazon.com
Its very easy to read. Its very easy to follow. You can write in it. You can make notes in it. All you have to do is to read five [5] pages - Let’s count
1 - 2 - 3 - 4 - 5 pages of this book - or any book - each and every day.
OR You can leave it sit on the shelf, on a table or on the floor and let it collect dust.
Thanks for asking your Q! I enjoyed answering it!
VTY,
Ron Berue
Yes, that is my real last name!Do you have any advice for a rookie investor?
4-1-08 Hi Shadepm75!
Thank you very, very much. I’m honored my answer was chosen THE BEST!
When I received the notice, it REALLY helped make my day MUCH better!
Again, Thank You Very Much!
Very Truly Yours,
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Go out and purchase William J. O'Neil's 24 Essential Tips for Investing in the Stock Market. This is an excellent beginner's book.
Learn as much as you can about the stock market and handle all your investments yourself. Do not pay someone else to handle your investments.
Sit down with a financial represenitive and go over your current financial picture, as well as look at your long term financial picture and goals. Instead of putting all your money on one companys stock, look into mutual funds that invest in a variety of companys. Unless you plan on monitoring your stocks every minute of every day, i would go with mutual funds. If your young, you can afford to be very aggresive right now with what funds or stocks you buy. T. Rowe Price has a terrific plan now where you can start an IRA with no initial investment as long as you set up a recurring monthly transfer to your IRA account of no less then 50 dollars. And they have a broad range of no load-no fee mutual funds. You just have to know what you want to do, and do a little research.......and have fun saving your money.
I would recc'd ETF (exchange traded funds) for you to learn on.
They are baskets of stocks, similar to mutual funds, but will little to no loads(charges)
They are really the best, safest and historically correct way to invest anyway.
Look, the best investment advice I can give, is keep it simple. Get an understanding of dollar cost averaging and dividend reinvestment, and think long-term, and you will do very well.
I recommend looking at DRIP Plans and ETF's.
Best of Luck
Do not day-trade. IRAs, 401(k)s, money markets are best, but...honestly, if you don't know what you're doing you're better off with a CD or a standard savings account.
If you DO know what you're doing, you're better off with a CD or a standard savings account.
Oh yeah, same as going to Vegas: Invest (bet) nothing that you can't afford to lose.
not all in 1 sector
take classes in economics and finance at your local university or community college.
There are also lots of great books on the stock market.
my suggestions for reading material:
Robert Kiyosaki,Donald Trump,Warren Buffet.
Join the updown.com, as you can practice for free with virtual money.
Don't invest anymore then you're willing to lose. Whatever you invest you have to be able to afford to lose, so don't bet your dog or your house (wives are ok).
Start out small.
If you're looking for a solid, long-term investment, I would recommend a mutual fund. I have T-Rowe Price and they've given me good returns. You can just let them take as little as $50 from your bank account a month and just forget about it. This is hands off approach though, IDK if you're looking for this or not.
In todays market, hide it under your mattress. Its much safer there.
youtube has videos of real investors/traders also subscribe to wall street journal @investors business daily. you need to study up so read the intellegent investor, the neatest little guide to stock market investing, and using technical analysis, also i have, security analysi ';expensive'; book and reading financial reports for dummies, real moneyby jim cramer, day trade on line, reading financial reports for dummies, you need to really become an expert yourself because investing maakes some money over long time but trading makes alot of money sooner read those books good luck
The library and/or bookstore would be your best source of info. There is so much to learn, this board could not do you justice.
