2012-04-14, 03:45 PM
Research, patience, and the ability to understand the mindframe of the other buyers and sellers in general are some of the biggest elements involved in the stock market, by what i know.
It's not exactly like gambling... watching the market is like watching the tide of the sea, sometimes it rises, sometimes it lowers, sometimes it splashes, but other times you can see the clouds of a storm coming and can get to safety.
If you really want to make decent income as a beginner (Sorry if i'm wrong, just an assumption), i suggest reading up on two tactics in the market: Writing Covered Calls. and Dollar Cost Averaging.
Matter of fact. Read all you can here http://www.investopedia.com/university/s...z1s2qqlNrj The more you know the better... also. very important : make sure you know how to do your own taxes, and at the very least, assume that 30% of any profits you make are gonna be eaten up by the tax man and assume action appropriately.
If you hate paying high commision, check out an online broker. Tradeking.net is decent... not sure about 'best' but they do provide nice resources, including a trend detector that automatically notifies you of most math-related market signals (stuff relating to the price/volume fluctuations, don't rely solely on it) so you don't have to learn it yourself. and they also have a tax form generator that lets you print out the 8949 with alll the work for the year with your gains and losses already done (always double check it though.)
No, but really, MAKE SURE YOU KEEP AN EYE ON TAXES. and above all else do all the reading on the basics you can, and search for 'beginner stock mistakes' to avoid.
tl:dr, its like merching in FM. and yes, there are scammers even in the stock market. (penny stock hypers)
It's not exactly like gambling... watching the market is like watching the tide of the sea, sometimes it rises, sometimes it lowers, sometimes it splashes, but other times you can see the clouds of a storm coming and can get to safety.
If you really want to make decent income as a beginner (Sorry if i'm wrong, just an assumption), i suggest reading up on two tactics in the market: Writing Covered Calls. and Dollar Cost Averaging.
Matter of fact. Read all you can here http://www.investopedia.com/university/s...z1s2qqlNrj The more you know the better... also. very important : make sure you know how to do your own taxes, and at the very least, assume that 30% of any profits you make are gonna be eaten up by the tax man and assume action appropriately.
If you hate paying high commision, check out an online broker. Tradeking.net is decent... not sure about 'best' but they do provide nice resources, including a trend detector that automatically notifies you of most math-related market signals (stuff relating to the price/volume fluctuations, don't rely solely on it) so you don't have to learn it yourself. and they also have a tax form generator that lets you print out the 8949 with alll the work for the year with your gains and losses already done (always double check it though.)
No, but really, MAKE SURE YOU KEEP AN EYE ON TAXES. and above all else do all the reading on the basics you can, and search for 'beginner stock mistakes' to avoid.
tl:dr, its like merching in FM. and yes, there are scammers even in the stock market. (penny stock hypers)