February 21, 2010
Where Can I Learn On How To Start Online Investing, Or Online Trading? What Books Or Websites Do U Recommend?
I bought a book called, “The Complete Idiot’s Guide To Day Trading Like a Pro”. Jim Cramer has also put out a couple of good books on it. I think one is called “Real Money”. I also suggest you join a yahoo group for stock trading. There are good ones and bad ones though. Also, you might want to go to your bank and see if they have a brokerage arm, and set up an account. And simply go to Yahoo’s Finance section, and just start reading info about stocks.
I freely subscribe to lots of online email lists that tell me what’s going on in various parts of the market. I ended up subscribing to everything from “Marketwatch.com” that I could. I also keep adding specific stocks to my list. The messages all come within one email, so they don’t fill up my inbox. Then I can pick and choose what I really want to read about.
I do suggest that you be patient and take maybe a year to do what is called, “paper trading”, or pretend trading. Just take a reasonable amount of fake money and buy some stocks with it. Then see how you do. See why you made mistakes or got it right after you bought and sold them.
One thing you DON’T need to do is pay for any information, at least not now. There is so much free info on the internet, that you shouldn’t have to pay for anything, so don’t let anyone try to convince you of that. There are lots of dishonest people in the stock trading world. There are also lots of really nice people here too. 
)
Oh, the link to the Marketwatch.com is here: http://www.marketwatch.com/
But the only reason I ever go to it is to edit my email alert list, like to add another stock to it or even news about a country or industry.
And after scanning all of the answers above, I’d say that they are all great answers with good sites to check out too. I was just telling a friend tonight that the education in stock trading is infinite, so sit back and don’t feel like you have to learn everything by Thursday.
http://www.alphatrends.net/http://www.tradingwithtk.com/http://www.slopeofhope.com/https://www.shadowtrader.net/videoArchiv…https://www.thinkorswim.com/tos/displayP…http://www.thekirkreport.com/
READ;
Trading In The Zone, Douglas
Mastering The Trade, Carter
High Probability Trading, Link
(to start)
I’ve just given you enough “stuff” to keep you busy for 6 to 9 months.
Enjoy,
YA@ErieStockTrader.com
I read a very good book several months ago called “The Millionaire maker” by Loral Langemeier. Very informative book and if you are motivated and disciplined, it will work for you. Also, INGdirect formerly known as Sharebuilder (sharebuilder.com) is a good place for online trading.
Good luck!
open a virtual trading account with updown.com. In that site, you will manage a $1 million virtual account. If your portfolio beats the S&P, they pay you real money–that’s what they claim.
Here are some books that will help you learn about securities and the markets.
What Works on Wall Street by James O’Shaunessey
Beating the Street by Peter Lynch
One Up on Wall Street by Peter Lynch
The Warren Buffett Way by Robert Hagstrom
Trading For a Living by Alexander Elder
Mastering the Trade” by John Caster
How to Make Money in Stocks” by William O’Neil
The Disciplined Trader by Mark Douglas
Get into the habit of making daily visits to some websites like MSN Money and Yahoo Finance. (http://moneycentral.msn.com/home.asp http://finance.yahoo.com/ )
While at MSN following the strategy lab analysts to get a feel for what the pros are doing and why. This site has some basic information for beginners. If any site offers free information, take it. Other website that can provide instructions and help with procedures and terminology are
Investopedia – http://www.investopedia.com/ Stock Charts – http://stockcharts.com/
Other – http://www.investorshub.com/ http://www.1source4stocks.com/
Visit some of the more professional websites like Zacks – http://www.zacks.com/
Smart Money – http://www.smartmoney.com/ Schaeffer’s – http://www.schaeffersresearch.com/
Before you start trading/investing you should have the following in place
1 – A written sound trading/investment plan with rules that will not only help you but more importantly protect you, mostly from yourself.
2 – Sufficient trading/investment capital. Use your own money, there’s no need to go into debt so that you trade/invest.
3 – A written money management program in place. Remember never invest 100% of your capital into any one security and never have 100% of your capital invested.
4 – A full and complete understanding of the rules & regulations of the industry.