2006-11-09 10:30:28 · 5 answers · asked by General P 2 in Business & Finance ➔ Investing
I think the best way to get started investing is to first study what the best traders are buying and selling. This is the idea behind http://www.top10traders.com - this is a free site that lets you create a portfolio of stocks with $100,000 in "play" money. Each day the site ranks the best performing portfolios, so you can see how your picks perform compared to other investors. You can also read posts on investing from the best traders, as well as share your own investing ideas.
Here are this month's best traders:
http://www.top10traders.com/Top10Standings.aspx
Good luck!
2006-11-09 15:25:44 · answer #1 · answered by Anonymous · 0⤊ 0⤋
lol, I'd "dabble" with the stock market. It's much easier to understand and most brokers will give you a VIRTUAL account that you can practice, practice, and practice on to save you REAL money until you learn more about investing!
As for learning about investing, there's hundreds of questions already in Y!A about where to start. I've answered several of these questions as well if you want to look at some of my answers.
Either way, stay with stocks. You'll keep your shirt a lot longer AND once you have a plan and know what to do, it'll be easier for you to get started!
Good luck!
2006-11-09 21:55:20 · answer #2 · answered by Yada Yada Yada 7 · 0⤊ 0⤋
I love your term "dabble". Does that mean it is going to be a hobby with you? You have a couple of choices. You can dabble in the commodities markets and loose your shirt very rapidly; or you can dabble in the stock market and perhaps if you learn very quickly will not loose too much money in the process and eventually learn to make some money.
2006-11-09 19:29:43 · answer #3 · answered by Anonymous · 1⤊ 0⤋
lol yeah the stock market will probably be an easier way to start. There are virtual stock market contests out there where you get to test out your theories before applying them and there is also a wealth of information out that you could use. Just as long as you don't fall into the trap of falling for someones's recommendations on what is a good stock or not.
2006-11-09 19:55:46 · answer #4 · answered by Zan 1 · 0⤊ 0⤋
A famous trader who made billions was once asked what advice he had for people interested in trading as a hobby or part-time. "Don't" was his advice. If you want to trade, don't dabble; dedicate your life to it. Others do, and they are much more competent and experienced than you are; and, if you're not serious, you might as well just write them checks from your bank account.
2006-11-10 03:20:44 · answer #5 · answered by angrysandwichguy1 3 · 0⤊ 0⤋