Where did you learn how to trade in the stock market?
（did you take a class? Did you learn in business school? Or did every one of you learn through
self-study and trial and error? I am amazed at how much some people know about the stock market
and trading, and I wonder where they got their start on knowledge. As for me I am watching Youtube
videos, which are a waste of time, and reading web sites, also a waste of time because both sources
just give you tid bits of info designed to direct you to their web site.）
Answer：
After you decide that, then the suggestion about reading a few books reviewed by Amazon reviewers is a good way. Then you’ll want to identify what kinds of strategies will work well for you and fit into your available time, how to read charts, how to manage risk and such.
Online stock trading is a terrific thing to learn and do in your spare time and continue to do into retirement. A good book is How to Make Money in Stocks by William J. O’Neil. It’s the first book I read when I started my stock trading and a very good start for stock investing or trading.
I’ve been trading for many years now and it is really fun. Definitely one of the first things to pay attention to is money management/risk. While you are learning, be careful about how much you trade so you don’t lose too much money. Another great thing to do is “paper trade” as you begin to learn strategies. That’s basically where you keep a fake portfolio of your trades. Yahoo Finance offers this service.
I also have a new educational stock trading website that is free, I don’t have anything to sell and there are no ads on the website. The “trading system” page has a good overview of what stock trading entails.
Best of luck Pat!!
Posted: July 29th, 2010 under US Stock Market.
Tags: Stock market, trade in the stock market