Description

My basic trading philosophy can be summed up by one simple quote:

"Trade the ticker, not the company" - Nate Michaud


Wednesday, January 29, 2014

Question: "How do I get started trading?"

First, I recommend you check out my posts "Is trading right for me" and "How much money do I need to start trading." If I haven't scared you off yet, the next items you need to consider are what broker you will use and whether or not you want to sign up with a trading service or not. Personally, I believe it is helpful for beginners to utilize a service rather than jumping in blind with no guidance. The trading services I have used and recommend can be found here; however, there are plenty of others out there that I have no experience with and that could very well be a better fit for you. When signing up keep in mind you should NOT be signing up for "stock picks." That will get you nowhere. Rather, target a strategy that you want to LEARN inside and out so that you can become self-sufficient.

Once you've found a strategy that you like, you are going to need a broker to trade with! Different brokers suit different types of strategies. I'll have a detailed post on what brokers I have used and recommend coming soon. Until then, I suggest checking out some broker reviews at investimonials.com and investigating whether you can track one down that will fit you well. Good luck guys!

1 comment:

  1. Hey Tim, I have read all of these blog posts and have learned so much. Thank you for that. Penny stocks grabbed my attention about 5 months ago, and I have Ben studying then ever since. I am anti losing money, so I'm looking to know as much as possible before I take the plunge. One thing I am struggling to find is a real breakdown of what a short is and how/why they work. From what I've found, it seems you bet against the stock on a decrease? It just doesn't make sense to me. A blog on this would be extremely beneficial! Take care.
    Colin

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