Putting money in stocks is undoubtedly one of the best investments anyone can make. However, like other investment opportunities, it is important to gain the required knowledge before venturing into it. You have to know what kind of stocks to buy, the best way to create a diversified portfolio and many other things.
Thankfully, many online and offline resources can help you navigate the world of stocks as a beginner. In this article, we share some key resources you need to begin.
Informational Websites
Today, you can get information online for virtually anything in life. Many website owners specialize in specific areas of life, providing history, the latest news, and other important details. Just by following informational websites, you can learn a lot and become experts in some fields.
An industry where one can become an expert by following educational websites is the online casino industry. Whether you want to learn about basic concepts or more specialized aspects of online casinos, you’ll find gambling websites with a wealth of information. For instance, if you’re looking for specific features like an instant withdrawal casino in Australia, some sites specialize in ranking casinos based on their payment speed. Similarly, for stock trading, numerous educational websites can turn novices into informed investors.
The popular blog Investopedia is a great example. The site features many articles, tutorials, and videos covering everything from basic stock market concepts to advanced trading techniques. It also has a stock market simulator that enables users to make simulated purchases and track their performance over time.
Yahoo! Finance, which functions primarily as a stock-related news platform, is another great option. It provides users with daily stock market updates and offers a portfolio section, which allows you to create watch lists or stock portfolios. Other portals where you can find information on financial markets, mortgages, loans, investing, and more, include Bankrate, The Balance, and NerdWallet.
Books
From time past, books have always been invaluable resources for gaining in-depth knowledge and understanding various subjects. When it comes to the stock market, a vast array of books cater to both novices and experts. Thankfully, many of the books for beginners are written by some of the most proficient minds in the market and are simple to grasp.
You can start with The Little Book of Common Sense Investing by Jack Bogle, founder of The Vanguard Group. The book encourages traders to begin by reducing costs and making long-term investments. It teaches investors strategies to keep losses at bay, so it’s perfect for risk-averse traders.
Another excellent book for every stock market newbie is The Intelligent Investor by Benjamin Graham. The book is considered the ‘bible’ of the stock market, probably because the author was Warren Buffett’s mentor. The author starts the book by laying down the fundamentals of the stock market, mainly from the perspective of value investors. Overall, it provides practical advice on analyzing stocks, managing risks, and building a successful investment portfolio.
One Up On Wall Street is another highly recommended book for novice investors going into the stock market. The book was written by Peter Lynch, one of the most successful fund managers of all time. Peter is known for his exceptional track record at Fidelity Magellan Fund. The book is considered a classic by trading professionals as it teaches how to prepare before investing. It also reveals the author’s unique way of choosing stocks, using easy terminology and giving investors clear directions.
Online Courses
Online courses are also a good option for beginners to expand their knowledge and skills in the stock market. Fortunately, courses on various platforms are taught by industry experts and experienced investors. The good news is that these courses are easily accessible.
The financial website Investopedia also runs various courses through its Investopedia Academy. Its Trading for Beginners course, which costs $199, teaches the basics and shows students how to develop a trading system that aligns with their financial goals and risk tolerance. The course includes over 50 lessons with on-demand videos, interactive content, and practical exercises.
Udemy is another great platform for stock market online courses. While most of its advanced courses are premium, it also has a good one titled “Stock Market Investing for Beginners”, which is free. The course introduces you to the stock market and its complexities and teaches confidence in investing.
Coursera is another portal worth mentioning as it offers a wide range of courses on stock trading and investment. It covers topics like technical analysis, fundamental analysis, portfolio management, and risk assessment. Its Stocks and Bonds class is available for free and requires just the basic Coursera membership at no extra cost. The course is taught by a top-rated expert, Professor Gautam Kaul, and is presented by the University of Michigan.
Investment Forums
Online investment forums are communities where investors meet to connect, share ideas, and discuss strategies. What makes forums different from ordinary informational sites is that investors can post their personal experiences and reviews on stocks, whether or not they’re financial experts. It can also be a good place to ask questions and get guidance from co-participants in the market. These forums aim to help people make more profits from their investments.
Examples of stock market forums include Traderji, BSE2NSE, Trading Q&A, Trade Brains Discussion, Seeking Alpha, and Valuepickr Forum. General forums, such as Reddit and Quora also have sections where you can connect with other traders, ask questions, and share experiences.
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