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I am a newbie in this and would like to know about trading stocks where you can earn huge profits (as I have read online).I have been looking for an online resource to teach me the tips and tricks of the stock market but there have been not any good as far as I have known. Please help me to find any good online resource which can educate me in this arena.
If I were you, I wouldn't... I know dozens of people who "trade" stocks as a "hobby" and lost thousands to hundreds of thousands of dollars... in fact, NOT one person made money.... its probably because the stock market wants to "make" money off the newbie. All those wealthy hedge fund managers out there love to take your money, for they have to "take" someone's money to make their money and those people usually are noobs. Personally, I have done pretty well but I don't daytrade, I buy for the long-term. Your "best" bet is to pick a good mutual fund and put a set amount every month into it... that way you are equalizing your losses and improving your gains.. for instance, the stock starts at 50 a share and you buy 10k shares and buy 300 dollars worth of stock every month...BUT you realize the stock is worth more in the long run and probably hit 90 dollars a share barring unforeseeable problems. It plummets down to 25 dollars a share and you buy 300 dollars worth (you are buying MORE stock at this price)... a couple months later it goes to 75 dollars a share (you buy 300 dollars still BUT you are buying LESS shares at the "inflated" price). Basically you bought more stock when the prices drop and less stock when prices are up, on average you bought more stocks than just pouring it in all at once (which people mostly do when the stock prices are too high (and sell when its low), hence hedge fund managers make billions from these noobs). I wouldn't recommend trading stocks unless you had a lot of "inside" information or when a global giant goes IPO. Of course you have to know when to sell as well... say your mutual fund target was 90 dollars and it went to 100 dollars, obviously, its overpriced at this short time and a time to sell and put it into something to hold over until you find another "good" fund. Selecting funds aren't easy though... you have to know future market conditions to make the big dough.. I am not doing to bad but I am not making millions either..
I've got a great idea for you. Take all of your money that you are planning to invest. Send it all to me. (you're going to lose it anyway). At least I can post on here how I'm enjoying it versus seeing it evaporate.
The truth is, you're not going to get rich trading stocks. No offense, but you're not smart enough. There are guys with Wharton, Stanford and Harvard MBA's that aren't smart enough, so why do you think you can beat them??
The only way to "get rich", assuming no large inheritance, is to work very hard, create products or services with value, and don't spend everything you make.
Nearly everything online about stocks is just hype and insanity. The same people that said housing would go up forever say stocks go up forever.
It's a big club of hype, dollar signs, seemingly infinite ability to predict the future (watch Cramer on CNBC, he tries to "predict" everything). It's all a big rah rah club. There's always another Microsoft waiting in the wings (read MSN Finance, Yahoo Finance, CBS Marketwatch, they're all the same).
I would skip all the hype and craziness and get the 5 star books on investing on Amazon, if I was first starting.
Money Game was a brilliant book that's saved me money. $10 or $12 on Amazon. Market Wizards by Jack Schwagger is a pretty good overview of successful traders/investors. There are too many books to mention. But they are far better than anything online.
[FONT=Rockwell]I don’t have much knowledge about this but I do know a good system that my friend uses to trade stocks and that really works for him. That one teaches him how to trade and as well as he makes money from that….so that is an all in [URL="http://www.daytradingpro.com/"] stock trading system [/URL] for anyone that needs to trade stocks.[/FONT]
The truth is, you're not going to get rich trading stocks. No offense, but you're not smart enough. There are guys with Wharton, Stanford and Harvard MBA's that aren't smart enough, so why do you think you can beat them??
The only way to "get rich", assuming no large inheritance, is to work very hard, create products or services with value, and don't spend everything you make.
You make it sound as if it's impossible and that no one has ever become wealthy by investing in the stock market. Maybe I'm just special or do you think Fidelity is lying to me about my account balance?
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Re : Help me to learn to trade stocks!!!
