The stock market is a tantalising place of potential. On the one hand, you can go in with a small amount of money and, bit by bit, claw your way upwards towards a small fortune.
And on the other, you can fritter away your life savings gambling on the potential of a fledgling company.
It makes winners but a whole lot more losers. Some studies estimate that as many as 90% of all investors lose money on the stock market.
If you think you have the talent to beat the bulk of investors, you are going to want to be sure. You need to know where to go to find the most useful, valuable information on getting started with the stock market.
In this piece, we’re going to provide you with the resources you need to make a stab at being a success on the stock market.
YouTube
The primary appeal of learning how to trade through a video-based platform like YouTube is the opportunity it gives you to explain the graphs, trends and patterns that comprise so much of investing.
No matter your level of experience, there is an entry point for you.
From simple, concise explanations of industry jargon to breakdowns of scalping, there are so many sources of information on YouTube. Seasoned veterans of the stock market share the secrets that made them rich and newbie investors take their viewers along with them for their journey into investing.
Practice accounts
A number of different brokers give interested investors the opportunity to practice their skills using virtual money. Trading 212, Investopedia and many others all offer versions of this service free of charge. It’s a great way to dip your toe into the admittedly stormy seas of investing. You can do all of the research you want but it’ll never quite match the lessons experience has to teach you.
It gives you a crucial opportunity to expel any mistakes out of your system.
You won’t be punished for your naivety with real losses. The stock market swallowing up your life savings in one fell swoop with an ill-advised trade is a devastating experience.
Once you’ve scratched your investing itch and are convinced you can profit through investing, why not take the plunge and sign up for a funded trader account?
Discord
Discord has become an increasingly popular way for budding investors to learn their trade. There are loads of different communities of traders out there. Discord groups are often packed full of helpful resources alongside so much more.
In addition to all of the educational materials being located in one place, you can also pick the brains of more experienced investors, ask questions that you can’t seem to find the answer to anywhere else and share your successes and failures with others.
You can use the instant messaging part of Discord to canvas opinion on growth stocks you’re considering investing in and trade real-time updates on movements in share prices.
