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| bigcountryjd |
 Posted: Fri Sep 26, 2008 7:34 pm Post subject: Best ways to increase my financial IQ? |
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total newbie here. I read rich dad poor dad, and i am getting interested, that's how I found this site. what is the best way to get smarter in stocks, bonds, ECT. I am 20, so time is still a large asset to me. Any and all advice is helpful!  |
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| eamoses |
| Posted: Sat Sep 27, 2008 5:49 am Post subject: |
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Investing Manager
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well, hanging out here is a good start... you can learn a lot playing with play money... also check out investopedia.com, it has a great trading simulator and useful information.
as for books: i would first recommend Investing Online for Dummies, i know pretty cliche, but it's a good book- full of resources.
after that one i would pick up a book on technical analysis and fundamental analysis, and Trading for Dummies-
don't forget to look up any terms in investopedia, there is a wealth of info there, and make sure you read up on economics and supply/demand, volume, trends, etc. these are going to be your main places to look.
if your not quite ready to actively trade single stocks, look into ETF, exchange traded funds. ETF's are passively managed funds, normally tracking an index or sector, they don't go up or down with as much volatility, but the gains are a little less on a whole as well. these are pretty good for getting your feet wet though.
if looking for a trading platform, check out Scottrade... that is what i use. if you are interested let me now, i can refer you and we can both get free trades, if you do so soon we can get 7 free trades... no rush though, do your research.
don't forget the watch the business channel, CNBC- Fast Money and Kudlow and Company are great places to find out what is going on in the market- Mad Money is entertaining, but please don't jump on anything he talks about-- usually this will result in losing if you plan on short term trades, in the long run, a few of his plays turn out well, but also a lot suffer. don't miss squawk box, squawk on the street, and power lunch these shows will usually let you know what is going on in the market, usually anything mentioned here will affect the market within secs... no joke there.
i started investing at 18, now i'm 26... i'm still young and have a long way to go, but i have more than doubled my initial investment over the years... i started with mutual funds, bonds, and CD's... then I learned that i could trade for myself, since that time I have learned how to make far more than my other investments ever could, but beware, you could lose quite a bit as well. take your time and learn all you can. |
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| bigcountryjd |
| Posted: Sat Sep 27, 2008 6:37 am Post subject: |
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New Poster
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| Thank you, ALOT of information there. I am very thankful for your time!\\ |
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| router |
| Posted: Fri Mar 20, 2009 9:14 am Post subject: |
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Investing Associate
Joined: 13 Mar 2009
Posts: 49
This Month: 7
11619.43 e$
Net worth: 24,261.83
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| eamoses! thank you! it is really good advices! ... Bit I am wondering what are you doing now! how you are dealing with this crisis, and what is your ideas about todays actions... I hope you are still reading this forum. |
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| Jimster09 |
| Posted: Fri Mar 27, 2009 10:32 am Post subject: |
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Investing Associate
Joined: 13 Mar 2009
Posts: 11
This Month: 16777215
4748.91 e$
Net worth: 19,823.91
Portfolio Value: 15,075.00
Monthly Return: 109.64%
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“Microcap Speculator” on SeekingAlpha.com crows: “If the Fed is printing money, I’m buying junior gold miners.” The Stock Research Portal (www.stockresearchportal.com)
cautions, “Anyone who lacks both detailed fundamental knowledge of mining and the junior miners should either not buy them or should gain that fundamental knowledge before buying them.” |
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| entreri28 |
| Posted: Fri Mar 27, 2009 1:02 pm Post subject: |
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Investing Associate
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| eamoses wrote: | well, hanging out here is a good start... you can learn a lot playing with play money... also check out investopedia.com, it has a great trading simulator and useful information.
as for books: i would first recommend Investing Online for Dummies, i know pretty cliche, but it's a good book- full of resources.
after that one i would pick up a book on technical analysis and fundamental analysis, and Trading for Dummies-
don't forget to look up any terms in investopedia, there is a wealth of info there, and make sure you read up on economics and supply/demand, volume, trends, etc. these are going to be your main places to look.
if your not quite ready to actively trade single stocks, look into ETF, exchange traded funds. ETF's are passively managed funds, normally tracking an index or sector, they don't go up or down with as much volatility, but the gains are a little less on a whole as well. these are pretty good for getting your feet wet though.
if looking for a trading platform, check out Scottrade... that is what i use. if you are interested let me now, i can refer you and we can both get free trades, if you do so soon we can get 7 free trades... no rush though, do your research.
don't forget the watch the business channel, CNBC- Fast Money and Kudlow and Company are great places to find out what is going on in the market- Mad Money is entertaining, but please don't jump on anything he talks about-- usually this will result in losing if you plan on short term trades, in the long run, a few of his plays turn out well, but also a lot suffer. don't miss squawk box, squawk on the street, and power lunch these shows will usually let you know what is going on in the market, usually anything mentioned here will affect the market within secs... no joke there.
i started investing at 18, now i'm 26... i'm still young and have a long way to go, but i have more than doubled my initial investment over the years... i started with mutual funds, bonds, and CD's... then I learned that i could trade for myself, since that time I have learned how to make far more than my other investments ever could, but beware, you could lose quite a bit as well. take your time and learn all you can. |
I agree with most of this. Another book to consider is Real Estate for Dummies, it might be called Investing in Real Estate for dummies. Something like that anyway. Look into forex, futures and options too. I'm not recommending you trade them, but just so you know what they are so you can really decide what it is you want to trade.
I just started about 18 months ago as well after I read Rich Dad Poor Dad. Make sure you take plenty of time to demo like you can here on einvesting. |
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| router |
| Posted: Mon Mar 30, 2009 11:35 am Post subject: |
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Investing Associate
Joined: 13 Mar 2009
Posts: 49
This Month: 7
11619.43 e$
Net worth: 24,261.83
Portfolio Value: 12,642.40
Monthly Return: 36.10%
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Churn Rate: 0.00%Items
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| Reading, reading, reading... education, intuition, you have to be smart, and fast, and initiative... |
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| GMadison |
| Posted: Thu May 21, 2009 8:35 am Post subject: |
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New Poster
Joined: 19 May 2009
Posts: 2
This Month: 4
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I think the best way to build and develop your knowledge is to read as much as you can. Here is one of my favorite books that recently came out; The Power Curve by Scott G Kyle. This is a terrific book in as possible aspects of trading and highlighting techniques that will definately lead to lucrative investments. You can even check out the website - www.thepowercurve.com
Hope it helps. |
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| GMadison |
| Posted: Thu May 21, 2009 8:36 am Post subject: |
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New Poster
Joined: 19 May 2009
Posts: 2
This Month: 4
7744.43 e$
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think the best way to build and develop your knowledge is to read as much as you can. Here is one of my favorite books that recently came out; The Power Curve by Scott G Kyle. This is a terrific book in as possible aspects of trading and highlighting techniques that will definately lead to lucrative investments. You can even check out the website - www.thepowercurve.com
Hope it helps. |
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| jbass |
| Posted: Tue May 26, 2009 12:46 pm Post subject: |
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New Poster
Joined: 21 May 2009
Posts: 3
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Gmadison,
i actually went ahead and visited the website for the power curve and read the first chapter of the book. The book is a very good read and i actually ordered a copy for myself and a few for my friends. Thanks for the tip! |
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| jbass |
| Posted: Tue May 26, 2009 12:46 pm Post subject: The Power Curve |
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Joined: 21 May 2009
Posts: 3
This Month: 4
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Net worth: 7,735.21
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Gmadison,
i actually went ahead and visited the website for the power curve and read the first chapter of the book. The book is a very good read and i actually ordered a copy for myself and a few for my friends. Thanks for the tip! |
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| jbass |
| Posted: Tue May 26, 2009 12:46 pm Post subject: The Power Curve |
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New Poster
Joined: 21 May 2009
Posts: 3
This Month: 4
7735.21 e$
Net worth: 7,735.21
Portfolio Value: 0.00
Monthly Return: 0.00%
Trades this month: 0
Churn Rate: 0.00%Items
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Gmadison,
i actually went ahead and visited the website for the power curve and read the first chapter of the book. The book is a very good read and i actually ordered a copy for myself and a few for my friends. Thanks for the tip! |
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| simplefello |
| Posted: Thu Jun 11, 2009 9:10 am Post subject: |
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Investing Associate
Joined: 03 Jun 2009
Posts: 23
This Month: 26
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| pay attention and play..it's the only way to learn |
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| demeanor |
| Posted: Sun Jul 05, 2009 11:59 pm Post subject: |
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Investing Associate
Joined: 14 May 2009
Posts: 40
This Month: 48
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hi there !!
apart from those books, you can also follow books like A Beginner's Guide to Short-Term Trading...by Toni Turner...You can also refer different books at this url http://www.gnutrade.com/resources/recommended_reading.html.
But apart from reading, you should also have experience in trading, that is practical knowledge. Try playing markets with play money |
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| frusnak |
| Posted: Mon Jul 06, 2009 1:48 pm Post subject: |
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CFO
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As the oracle of omaha says...'buy low sell high"  |
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stock market game on the web. At eInvesting you compete for monthly cash prizes while you interact, make virtual dollars, purchase items, and trade in the realistic stock market simulator. We make investing FUN!
