The easiest, most effective way to learn how to trade is to take a class, and be exposed to the right people and different trading styles.
While you should probably try to find a trade book that matches your trading skills, the best place to start is the Trading and Investing section of your local bank.
As for your first stock to buy, you might want to focus on a mid-cap stock and maybe try some small cap names you think could become a value stock.
You’ll probably find the market works differently from the way you’ve come to trade, so you might want to try some smaller stock in the opposite direction, and see what works best for you.
One of my favorite quotes is from Charles Duhigg, “How a trader reacts to a market move in one market tends to be the same, but how they react to the same price move in another is wholly different.”
The way your mind reacts to stock prices, as well as the way your hands react, can really define and change the way you trade.
The best news is that when you’re first learning how to trade, you can really get away with not buying anything of great significance. That could be just like me.
After all, most of the stocks I sold at $300 and below would later double or triple!
But when I learned how to trade in my teens and early twenties, I eventually discovered that the difference between a $50 stock and one with $1,000 to $3,000 in price movements is huge.
So don’t be afraid to go with the flow and buy a few big-name stocks early on, but don’t just blindly follow the market. Invest first!
In the next few posts, I’ll cover my experience building up to my first successful trade in the $800 million market, and how you can emulate my strategy.
Until then, enjoy your new found passion for the market.
With the first draft of the new law kicking off Friday and there being no end date in sight, lawmakers in Colorado are getting a heads up that the state will have to adjust its budget by at least another $40 million next year.
Colorado Gov. John Hickenlooper’s office told the Associated Press that the state is in a “very difficult spot” and that some lawmakers may opt not to raise any new tax revenue because the new law won’t apply until after the election.
The Colorado Public
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