The stock market can be intimidating especially to someone who have no background at all and is faced with number and graphs. But it is never too late to understand the stock market and earn from it. The stock market is risky and you will likely lose or earn in every decision that you make. Of course if the risk is too much for you then you can always invest in mutual fund companies that invest in the in the stock market, but we don’t want them to have all the fun do we?
You don’t have to go to special school to learn all about the stock market and its secret; you only need the will to learn and your internet.
There is no short cut to learn the internet; short cuts will only lead to losses.
Below are a few steps that you can do to help you get started, and hopefully start earning – fingers crossed.
1. Learn the basics
The basic of stock trading will be the foundation of your knowledge, a foundation that should and always grow as you grow.
So where should you start???
– BOOKS. There are many books in print that talks about the stock market, the stock market in history and men and women who became successful in the trade.
– The INTERNET. There are many websites from professional and beginners like you. Get real time information which is important in the business, learn from other people’s mistake or at least from their blog and be inspired from how traders celebrate little wins.
– Attend seminar. Find one nearest you; some are free while others are not and it’s up to which one you want to attend to.
– Subscribe. There are many experts online that have their own websites giving expert advises a few times a month. Be one of those people that get emailsand subscribe. It never hurts to get advice, nuggets of wisdoms and inspiration from someone who is up there already.
– Talk to other people. Some of your friends or family member might be into trading too, you now have someone to hold your hand while to make you first transaction.
– Listen to the news. Be aware of what is happening to the economy of not just your country but the entire world.
Many investors have been successful before though there sources of information are limited, you should do better than them; you have all the resources and information right under your fingertips. Ok, maybe not as rich as those seasoned traders but at least you are earning and not losing is a good thing already.
2. Open an Account and start trading.
Experience is the best teacher. To fully understand how the market works, why not play with real money already? Start from the very minimum and work your way up. Limit yourself; only use the amount that you are willing to lose. Being your first time doesn’t mean you will lose immediately, there is chance that you earn and be motivated to go even further. It’s ok to feel sad and down when you lose but never be discouraged, you are bound to earn even bigger that what you’ve lost.
3. Join groups.
There are many groups and forums online where experts are willing to help newbies like you. Places like this are also the centre of information where everyone shares what they think is going to happen.
4. Get a Mentor.
Find someone who will take you under his wing. A mentor is a person who has vast experience in the stock market that will give you advice and insights. Someone who will tell you the mistakes he did that you should avoid. Your mentor at one point of his trading life is a mentee so he understands what you are feeling and your doubts.
If you don’t know anyone that could be your mentor, then go to forums or post it in social media sites. Just post a status that you are very interested in the stock market and you are looking for someone who has been there for insights and inspiration. Someone will message you that giving you some advice; you earn a friend too.