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I think the best way is to learn how to read and understand financials, like a 10-Q, and other basic concepts and then get going on either a real account (with
by opportune 6y ago
I think the best way is to learn how to read and understand financials, like a 10-Q, and other basic concepts and then get going on either a real account (with say 5% of what you intend to invest down the line) or paper trading. However a real account will be much more educational because with paper trading/investing you’ll be inclined to ignore losses or make money taking much greater risks than you’d want to make with actual money. Just do a ton of googling, most financial books I read have not been super helpful, if you are only doing stocks there are frankly not a lot of concepts to learn.
Personally I would not recommend “trading” as an amateur at all. If you are investing over months/years that’s one thing, but making money long term over <1 week time spans on stocks is quite hard. I think the appeal of amateur “trading” is that it’s job-like but the reality is that you’re not going to make significant money with a smallish account, retail tools, and no professional experience.
In general I would never advise joining a course or “paid discord” or on stock trading. Those are pretty much all scams. There are some real, formerly successful traders that do these but the one I’m familiar with basically went broke several times because he opened himself up to too much risk (which is why you don’t see a lot of successful traders selling courses, they are too busy making money trading). Some of these courses also sell straight up misinformation like Technical Analysis
- marketgod 6y agoTechnical Analysis is not misinformation. Research it. A lot of people think so but if you know what you are doing it's way better than fundamental analysis, depending on what you are doing. I.e. doing TA for long-term stock holding is probably not ideal but trading options with TA is definitely profitable.