Let's get rich together;)
- Thread starter liaichiM
- Start date
D
Deleted member 1658361
Guest
I'd suggest you stay away from trading if you're a newbie.
I have been into NFT for a while, as well i do regular reading on the market and trading strategies, I feel i miss something out.
SyntaxSurge
Power Member
- Feb 6, 2023
- 537
- 150
Trade only using demo account for now. If you want live trading, then trade only using $1
Got it thanks
- Oct 14, 2023
- 267
- 45
Kind regards.
Hello liaichiM!
First of all welcome to BHW.
Before you even think about it first "Educate Yourself" Spend some time learning the fundamentals of the stock market, investment methods, and the companies you are interested in before you begin investing. Numerous resources are available "one search away"
I would recommend reading these books as a beginner.
#phycology of money
#the only investment guide you will ever need
IF you want to go for long term trade then Research the company very well the present activities , what's their upcoming plans so on.
Establish Financial aims. every trader must have has an open and exit strategy . you have to be if not right on time but around the clock before it;s too late .
plan your take profit and stop loss before entering to the trade.
I've personally used Robinhood. it was smooth. There are a couple of options you can choose from Firstrade, Charles Schwab so on, they may vary depending on your geographical location.
thanks for replying, how much time it will takes to let's say go from zero to hero ?
Area 51 Man
Power Member
- Sep 15, 2019
- 534
- 136
Trading stocks, nft's, crypto, all take market research time first. Do you have any prior experience in these markets?
Kilnarix
Newbie
- Dec 2, 2023
- 21
- 16
This is what I have learned in my circa 20 years of investing experience:
1) If you don't have any money, there is no point in being a good investor.
2) If you have money, you don't need to be a good investor to make money.
3) If you day trade you will lose money.
4) Pay attention to the rate of return on low risk investments like government bonds and money market funds. Right now you can make around 5% a year on these.
5) You can earn around 8 or 9% on your money if you invest in the stocks of large companies. The return will be a mixture of capital growth and dividend payments. I suggest you invest in stocks in "boring" mature industries that pay good dividends. Examples are things like mining, oil and gas, paper and packaging, consumer goods, pharmaceuticals, shipping, insurance etc.
6) Investing is supposed to be dull, just make your investments and forget about them.
7) Many people never start because they don't see the point in making a few dollars a month in dividend payments. You have to push through this and invest anyway.
8) Investing is incredibly personal, a lot of advice won't be relevant to you.
9) Learn how to read basic financial statements and check the financial health and suitability of each investment. (Investopedia is good for this)
10) Read chapter 8 of "The Intelligent Investor" by Benjamin Graham.