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What do I need to know for trading stocks?
Posted by admin on April 23rd, 2010
Insure Your Future!!
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NEVER INVEST MORE THAN YOU CAN AFFORD TO LOSE!!!
Stock trading is all guessing. There are no sure-fire bets, especially in today’s market. I started trading for real in Oct. 2008 with $500.
Make sure you research the company BEFORE you invest, and do weekly checkups to see if anything major has happened or changed in the company.
My advice is that, before you play with real money, practice with virtual money. go to vse.marketwatch.com and set up a free account. this is how I got used to investing and learned a lot. This is the only risk free type of investing, the type that isn’t real. Play around and experiment for a few months before you risk your hard earned money.
Also, listen to CNBC or other business network. They provide you all the relevant news about the market.
On stocks, do a few Google searches to learn about support, resistance, Beta, outstanding shares, authorized shares, forward and reverse splits, dividends, P/E ratio, as well as ETFs, commodities and their effect on stocks, and how to read company financial summaries. pinksheets.com is a good resource for smaller companies. Your online investment broker website will provide you with quotes, company news, and company information for larger companies.
Create an account in Google Finance or Yahoo Finance and read the message boards about your stock to get an investor sentiment.
Check out stockta.com for free technical analysis of stocks.
The biggest thing about stocks is that they are unpredictable. Good companies have bad stocks and vice versa. Never act on the recommendation of a website (especially those free stock picks sites), analyst, or friend without doing your due diligence (DD).
You will lose money, make no mistake. Don’t be afraid to sell at a loss.