Open a stockbroker account
Seek a sound online financial broker and open an account. Learn to familiarize yourself with the layout while taking full advantage of free trading tools and research offered to clients.
Reading books on stock trading provide a wealth of data, beneficial information and are quite inexpensive compared to the costs of attending seminars, classes or educational DVDs across the internet.” How to make money in stocks” is often recommended for first-timers in the market.
Reading articles is an excellent source of education. The stock education page of StockTrader.com has over a hundred different types of materials, all who are recommended for first timers to read before indulging any such trading in the market without prior and proper knowledge. Recommended websites for online education on the stock trading market is investopedia.com and Google search.
Find a mentor
A mentor or teacher for you can be anyone such as a friend, family member, co-worker, teacher or any individual who has a fundamental understanding of the stock market functions. The right mentor is willing to answer your queries, provide help, recommend helpful resources and keep spirits up when the market gets tough. It is no doubt that all the successful investors today have had mentors in the early days.
Study the greats
Researching the most significant investors such as Warren Buffett, George Soros and so on will provide a positive perspective, inspiration, and appreciation for the stock trading activities.
Read and follow the market
Websites such as Yahoo Finance and Google Finance are ideal resources for new investors whereas Wall Street Journal and Bloomberg provide much more in-depth coverage. Simple activities such as monitoring the markets each day and reading headline stories, investors are exposed to investment trends, third-party analysis, economic concepts, and general business functions. Other good sources of exposure are pulling quotes and observing fundamental data. TV is another excellent resource. Watching CNBC for fifteen minutes a day will tend to broaden the investor’s knowledge base.
Consider paid subscriptions
Paid subscriptions can be both useful and educational. Some investors confess that watching and observing market professionals are very beneficial. There are plenty of paid subscription sites available across the internet, among which two are mainly recommended which is Investors.com and Morningstar.
Go to seminars, take classes
Attending classes and workshops provide valuable insight into the overall market and various investment types.
Purchase your first stock or practice through a simulator
With an online trading broker account setup, the best ways to get it started is by just taking the plunge and make your first trade. It does not matter if it is small as even 1-20 shares will serve its purpose of educating you about the market. If trading with actual capital is not possible, consider using a stock simulator or virtual trading.
Majority of the investors will incur trading as a losing proposition. Expert investors recommend individual investors merely passive index rather than trying to beat the market trading on their own. If you want to know more on how to learn trading click here.