06-05-2021, 05:03 PM
(06-05-2021, 04:56 PM)Jake2015 Wrote:(06-05-2021, 08:18 AM)Shannon Wrote:(06-04-2021, 11:01 PM)Real-Me Wrote:(06-04-2021, 09:37 PM)Shannon Wrote: I love the advice Catman! Great stuff.
I also totally agree with Shannon & Catman you have to learn as much as you can before jumping in the water ...and also be very aware of your own emotions when trading.
This is another great point. I experimented using paper trades and small amounts ($20-25) and found that evert time I traded based on thorough research and understanding I was making money and every time I let myself buy or sell based on emotion I lost money.
Paper trade is done via the virtual market on an app is that correct?
and how do you research and what is it you research or how can a novice like me learn this?
No, as I said before, all it is, is pretend trading. Nothing more complicated than that.
You can do it on your own pc/phone with a txt file. Pretend you're investing X dollars..."buy" x of whatever you wanted to buy based off your budget...and then track it's share price you bought it at and see overtime if you are doing a good job picking investments. Do that for quite awhile, until you have a very solid grasp on a niche(s) and it's showing reliable returns, then consider actual investment.