If you are a new investor taking your first step towards learning the basics of stock trading then you should have access to multiple sources of quality education. Alike riding a bike, trial and error coupled with the ability to keep pressing forth will eventually lead to success.
Traders have years to develop and hone their skills. All the strategies used twenty years ago are still utilized today. Following are three do’s that you must practice.
- Follow some of the great traders and investors
Ensure to learn about the greatest investors of years past. It will provide perspective, inspiration, and appreciation for the game which is the stock market. Some of the successful traders are Warren Buffett, Jesse Livermore, George Soros, Benjamin Graham, Peter Lynch, John Templeton and Paul Tudor Jones, among others.
- Keep track of the market’s trend
Keep eye on news sites such as Yahoo Finance and Google Finance serve as these sites serves as a great resource for new investors. Look no further than the Wall Street Journal and Bloomberg for in depth coverage. Also monitor the markets each day and read headline stories. This way you can expose yourselves to trends, 3rd party analysis, not to mention economic concepts and general business. By observing fundamental data you can also serve as another good source of exposure.
- Buy paid subscriptions
You must pay for research and analysis as it is both educational and useful. Many investors may find watching or observing market professionals to be more beneficial than trying to apply newly learned lessons themselves. It is important to find the right services for you out of slew of paid subscription sites available across the web.