11 Great Ways to Learn Stock Market
If you are a beginner and taking your first step towards the basics of trading, you should have access to multiple reliable sources of the quality database to learn from. To learn the stock market, you have to be well prepared about a lot of confusion, lots of technical stuff and the ability to keep pressing forward.
Once you learn about stocks, you will not regret investing your time in it. It not only gives you the skill to generate wealth in the long-term but also can become your way of improving your financial planning and decision making. Even if you invest in secure instruments such as Mutual Funds and SIPP, you will realize your knowledge is giving you an upper hand in investments.
So, we are assuming you are well aware of what the stock market is. If you are not, you can read it here. So how to learn stock trading as a beginner. For a beginner, if you want to learn stock market trade, here are 11 ways you can start at.
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Open a stock broker account: You can easily find an online stock broker to help you open your Demat cum Trading account. Becoming familiar with the tools available, services you can leverage, and layout, you will feel yourself more practically exposed to the world of trading.
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Reading Books: Books provide you a wealth of information and in the most inexpensive way possible. Most of the books are available online and sold as audiobooks. You don’t need to have a physical book. But if you want you can buy it from Amazon or any other online store.
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Read Articles: Yeah! Staying updated with trends is going to serve you the most. Learn how investors that have a strong trading portfolio are making their strategies, what is there say on the ups and downs of the market and what do they advise to be hedged in any difficult situation. All you need to do is simply google research, and your knowledge journey starts.
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Finding a Mentor or a Friend: A mentor can be anyone, be it a family member, a co-worker, a friend or a current professor. All they need to have is a deep understanding of the stock market and experience. A good mentor answers to your questions help you, recommend stocks that you should invest or study.
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Study successful investors: Learn about great investors. You can start from Warren Buffet, Benjamin Graham, George Soros, Peter Lynch, John Templeton, Paul Tudor Jones, and others. They not only inspire you but also suggest some of the winning strategies learn from.
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Read and follow the stock market: Many news sites serve as a great source of information for beginners. For in-depth knowledge, you can read other journals, be casually checking on the stock market, and know about the economic trends, third-party analysis and more.
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Paid Subscriptions: Paying for research and trade ideas can be another way to gather information sources. Some investors may find watching and observing market professionals very helpful in learning new lessons and later applying them to their customized strategies.
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Being Careful: Do not always blindly trust any information or tip. They might work sometimes, but the market is unpredictable, you can only closely analyze it to guess its momentum. If you are not confident about a certain tip, don’t proceed.
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Join Seminars: Seminars can help you get valuable insight into the overall market and specific investment types. Most of the seminars are highly focused on a specific aspect of the market and how the speaker has found success by creating their strategies, failure, and success.
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Buy your first share of stock or practice through simulator: By setting-up your online trading account, you can take the plunge and place your first stock trade. Start small- always. Also, there are virtual trading platforms where you can buy or sell stocks.
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Follow Warren Buffet Advice: The man is just simply a genius when it comes to personal financing. What to buy what to sell, you can count on his years of knowledge to seek some serious advice