Starting Out In The Stock Market
by Old Guy
Make sure you know what you are doing, why you are doing it, and how to do it.
The are four major plans you need before you start investing and/or trading.
1- A written sound trading/investment plan with rules that will not only help you but more importantly protect you, mostly from yourself.
2 - Sufficient trading/investment capital. Use your own money, there’s no need to go into debt so that you trade/invest.
3 - A written money management program in place.
4 – A full and complete understanding of the rules & regulations of the industry.
Before you invest in any security, the first investment you should make is in yourself, and the best investment you can make is by educating yourself.
Start 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.
Here is some reading material that can get you started in the right direction, The first book you should read is Rich Dad Poor Dad by Robert Kiyosaki
Then try some of these
What Works on Wall Street by James O'Shaunessey
Beating the Street by Peter Lynch
One Up on Wall Street by Peter Lynch
The Warren Buffett Way by Robert Hagstrom
How to Make Money in Stocks” and 24 Essential Lessons for Investment Success both by William O’Neil
Get into the habit of making daily visits to some websites like MSN Money and Yahoo Finance. moneycentral.msn.com/home.asp www.finance.yahoo.com/ )
While at MSN following the strategy lab analysts to get a feel for what the pros are doing and why. This site has some basic information for beginners.
Other website that can provide instructions and help with procedures and terminology are Investopedia - www.investopedia.com/ Stock Charts -
Visit some of the more professional websites like Zacks www.zacks.com/ Smart Money -
www.smartmoney.com/ Schaeffer’s – www.schaeffersresearch.com/
Some of these web sites will have advertisers who are worth looking into also.
Good luck on your journey, study hard and you'll do well investing.