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New to investing. Where to start?
I'm beginning to have interest in investing my earnings to something profitable. In particular, I just started to noticing the popularity of online trading (stock, forex). The problem is I'm new to all this, and completely ignorant of all the jargon and how the system works.
I don't want to recklessly invest my money without understanding what I'm doing. I also don't have that much money to invest yet. Can someone please point me in the right direction? Where should I start? Is online trading advisable for newbies like me? Does it make a difference whether you sign up for the services of an international company, or am I better of finding one locally (Australia)?
Thanks for all your advise.
4 Answers
- Net Advisor™Lv 71 decade agoFavorite Answer
It's a always a good time to start learning about investing.
I think that people who listen to all the commercials (ads/blogs/hype) about Forex and jump in that market with no prior investment experience will have worse odds than if you went to a casino.
Currency trading is not easy, and very complex.
The following recent post contains links to my other posts discussing education about the financial markets.
http://answers.yahoo.com/question/index?qid=200906...
Good Luck!
Source(s): -- Finance & Risk Management Consultant --- 20 years in the markets (see bio for more. add me to view post history.) - Anonymous6 years ago
Binary options let users trade in currency pairs and stocks for various predetermined time-periods, minimal of which is 30 seconds. Executing trades is straightforward. The system uses user-friendly interfaces, which even an 8 years old kid, can operate without having to read any instructions. But winning trades is Not easy.
Binary trading is advertised as the only genuine system that lets users earn preposterous amounts of money in ridiculously short period of time. Advertisers try to implicate as if you can make $350 every 60 seconds; if it was true then binary trading would truly be an astonishing business.
However, does it make any sense? Can every trader make tons of money in binary trading? Who is actually paying all the money or the profit to traders?
The first challenge is finding a trustworthy binary broker; secondly, you need to find a binary trading strategy, which you can use to make profits consistently. Without an effective trading strategy, there is no way you can make money in this business.
Learning a profitable trading strategy is possible, You should watch this presentation video https://tr.im/16635
It's probably the best way to learn how to win with binary option
- Anonymous1 decade ago
This is a great direction. I think you should do as I have and many more to keep up to date on investments. Look on line in your local area for talk radio programing about investment strategy. I think Randy Savage is vary direct. Money Talk with Bob Brinker. I received info on how to start my own business and my life took a 180, In just 8 months this past year I went from neg - $32,000 to only -$487.00 I will be even by end of this month. If you would like more info on my Global company e-mail me I would be more then happy to tell you. We are in Asia Pacific as well. Here is my web page If you would like to look. You may also contact me through my web page at www.robertlafrieda.acnrep.com good day to you. Robert LaFrieda
Source(s): I live the life you seek, Thanks to the smartest woman I know (my wife) April. It is true every good man is driven by a smart woman. . . - Anonymous6 years ago
the best trading software http://tradingsolution.info/
i have attended a lot of seminars, read counless books on forex trading and it all cost me thousands of dollars. the worst thing was i blew up my first account. after that i opened another account and the same thing happened again. i started to wonder why i couldn,t make any money in forex trading. at first i thought i knew everything about trading. finally i found that the main problem i have was i did not have the right mental in trading. as we know that psychology has great impact on our trading result. apart from psychology issue, there is another problem that we have to address. they are money management, market analysis, and entry/exit rules. to me money management is important in trading. i opened another account and start to trade profitably after i learnt from my past mistake. i don't trade emotionally anymore.
if you are serious about trading you need to address your weakness and try to fix it. no forex guru can make you Professional trader unless you want to learn from your mistake.