Some Beginner tips
Here we go...
1. Investing is not a hobby. To big merchant banks it is a very competitive business. you should also treat it as a business. That means figuring out your profit and loss
Once this thought pattern is established, it makes the whole process so much easier. " Once an answer has been established a clear course of action will present.
At first investing can feel like gambling and many beginners want to learn how to play the stock market thinking that they can understand the moves of the DOW. but the real skill starts to come as an investor takes it more serious.
2. Get some great investment management software. Why spend the time and effort trying to figure out the best ways to do things when solutions already exist!
look to purchase two types of software. One will be for money management. This can be used for profit and loss and keeping track of the costs of stockbrokers and the like. The other will be used for tracking stock and fund prices and fundamental analysis and more.
Neither of these tools will turn you into a master but they will help to keep you organised and of your positions will become much simpler. It will also become easier to track the stock you want to buy. hunting out a good opportunity and a fitting price.
3. Get an education. being able to understand the scoring system of the syetem can only help. There are hundreds of books about investing - you don't need to read them all but you probably should to read a few to enhance your knowledge.
This education really ought to include one of the daily papers that covers the movements on the stock exchang. such as the Wall Street Journal. the investment bankers that you are competing against have Reuters subscriptions, while everyone else is watching CNN.