2007-01-08 01:01:08 · 11 answers · asked by natarajan d 1 in Business & Finance ➔ Investing
Congratulations on getting started. It’ll help you more than you know!
Your first dollars should be spent on getting educated on investing. You don't have to train to trade them professionally, but we are talking about your future here. So the more you learn, the more it'll help you! So let's start there.
You ask a very broad question, so be prepared for a pretty long answer. Just take it in chunks!
How to invest depends on what you already know. We'll assume that you're beginning.
A good primer is How to Make Money in Stocks by William O'Neil. You can get it cheap just about anywhere. It’s widely available new or used.
Another good one is one of Jim Cramer's books like Real Money (he’s got a few).
But books will only get you so far. At some point, you'll also want to get at least a little training. There are some great education companies if you want to make the investment. Investools.com or optionetics.com are both very good companies as is tmitchell.com
For free, you can start by visiting thestreet.com and investopedia.com. That'll get you a pretty good primer so at least you'll understand what the markets are and what a stock is, etc.
If you get a chance, watch Mad Money on CNBC. Don't trade any of his picks until you track many of them over time. Just use the show to get you to understand some basics and get a feel for the market itself.
Next, subscribe to something like Investorsbusiness daily or something like that that can help you identify good stocks.
Once you understand stocks, go to 888options.com. It's a website that'll help you understand options (what they do, how they work, etc). You don't need to trade them, but the more you know, the more you'll see how options can really be the safest way to invest (once you're educated).
For discipline (which is crucial to successful trading), probably Trading in the Zone by Mark Douglas or Mastering the Trade by John Carter
I know that’s a LOT to absorb. Just take it one step at a time for now. Start with a book or two to give you an idea of where to begin. Take your time, and let it seep in.
As you get up to speed, you should papertrade to practice (highly recommended). This should help reduce your losses in the beginning as you get used to buying/selling.
You can practice for free on almost any reputable broker site (optionsxpress, scottrade, thinkorswim, etc). And yes, you can definitely deal easily online.
Start slow, then as you figure things out, you can buy more shares.
Congrats again on getting started. If you have any questions, please let me know.
Hope this helps!
2007-01-10 09:32:09 · answer #1 · answered by Yada Yada Yada 7 · 1⤊ 0⤋
Best advice that anyone will give you is to Invest for a long term. That is what share market was supposed to be. It became a place of risk with all the buying/selling/trading that started in the last 30-40 years.
Buy and Hold is how people have made money. People still make a lot of money. Warren Buffet is a king of the stock market. $10,000 invested with him in 1963 is worth $50M today!!!!!! He has one new pick per year. He buys it and never looks at it for months. You can find his most recent story and interview on CNBC.com. It is a great story to read and makes you wonder. He lives in a town far away from Wall Street and does not pay attention to the Dow or Nasdaq.
Good luck.
KKP_Investor
2007-01-09 09:04:15 · answer #2 · answered by KKP_Investor 3 · 0⤊ 0⤋
Hi,
Yes, shares trading is very exiting business
If you would like I could introduce you to one brokerage company in Austria that allows to trade from same account currency (forex), commodities, metals and cfd on shares. Total 500 instruments available; spread from 1 pip. If you open trading account under my referral I provide you for free with trading techniques that I successfully use for several years.
Currency (forex) trading is attractive because it is very high income and you could trade from any place in the world and at any time from Sunday night to Friday night.
Also it would be useful following books:
Market Wizards by Jack D. Schwager;
Technical Analysis by Jack D. Schwager;
Comprehensive Course on The Wave Principle by A.J. Frost and Robert Prechter;
Candlestick Charting Explained- Timeless Techniques for Trading Stocks and Futures by Gregory L. Morris;
Trading Chaos – Applying Expert Techniques to Maximize Your Profit by Bill M. Williams;
New Trading Dimensions by Bill M. Williams
Trading Chaos II by Bill Williams – Maximize Profits with Proven Technical Techniques by Justin Gregory-Williams and Bill M. Williams
If you are interesting and/or have any question please do not hesitate and pm or e-mail me.
Good luck!
2007-01-08 02:22:12 · answer #3 · answered by VP 3 · 0⤊ 0⤋
Why not learn computer hardware stuffs and get into the enterprise of computer repairing. Dude it grants good funds. Use a factor of a million Lakh rs to get right into a hardware direction and then get into it.
2016-10-30 08:11:15 · answer #4 · answered by stever 4 · 0⤊ 0⤋
dont hurrry in getting involved in share market business, you should patiently watch the market for atleast 90 days then you will get the broad idea how exactly market behaves and what are the factors influence the market, after doing this small preparation u can enter the market.
2007-01-08 01:13:15 · answer #5 · answered by rajay 1 · 0⤊ 0⤋
share market buisness its not a bad buisness but it very risky if you are strong from money then you enter in share market
2007-01-08 01:07:52 · answer #6 · answered by Anonymous · 0⤊ 0⤋
As a broker good
As a trader V Good
pl visit my blog
2007-01-08 04:38:27 · answer #7 · answered by dinu_pawar 5 · 0⤊ 0⤋
This is a good business only precaution is to take first learn the market then start
2007-01-08 01:15:55 · answer #8 · answered by sunrich 1 · 0⤊ 0⤋
Dear,Today share market trading is the best business,But you have a petionse,and study of market volatility.Then share market trading is the best business
2007-01-08 01:26:33 · answer #9 · answered by Anonymous · 0⤊ 0⤋
don't always look for high profit
2007-01-08 03:05:17 · answer #10 · answered by Anonymous · 0⤊ 0⤋