What's the difference between an amateur and a professional?
An amateur practices until he can get it right, a professional practices until he can't get it wrong. So, where are you going to get your investment information - from an amateur or a professional?
A good investment decision is based on knowledge: What does this company do? How do they do it? How well do they do it? What's their market position? Who are the competitors? What new products are they planning? (And about a thousand other questions.)
Professionals have the answers. They are experts. They spend years studying this stuff, their income depends on knowing what's happening and making the right decisions. Whereas, the amateurs don't have the time and resources to gather and analyze all that data. So, many people get hot tips from a "friend of a friend" or follow "hunches." That means most people just keep living from paycheck to paycheck and hope Social Security is still around when you're 65!
CHANGE THE TREND! - You don't need an MBA to be an effective investor. You can learn where to find good info, then learn to use it: Take a continuing education class on financial management at your local college or university. Attend a 'how-to' seminar given by an investment company. Join an investment club, like The Wall Street Prophet, and learn from successful professionals.
And, get on the web. The Internet has become the most powerful learning tool in the world. Newspapers, trade magazines and investment magazines have websites. Companies and investment firms have websites. With an Internet connection, you have access to more data than the most seasoned professional had a decade ago. It's there, it's instant and (a lot of) it's FREE! Read it!
So, where to start? "Paper trading" - do the research, pick a stock, watch it. Do more research, pick another stock, watch it.
After three or four months, you'll begin to get a feel for how stocks move, which info sources give you useful info, and whether or not your investment instincts are profitable to you.
Then comes the time to start buying. Remember, the key to successful investing is patience and knowledge. Investors who try to get-rich-quick usually get-poor-quicker.
Start small. Work your way up. Learn on paper, then by doing. By practicing now - you'll make less errors and more money later.
Finally, make friends with a professional investment counselor or financial advisor. You need expert help to make big moves. They're also a good source of advice and guidance.
Some professionals may not want you to do any trading on your own, but a true professional will work to make you an educated investor, and help you use the information and the technology to leverage your money into a position where it's really working for you.
"The only thing more expensive than education is ignorance"
Bruce Nelkin is a veteran investment pro and educator whose goal is to see your financial dreams come true. With knowledge comes the power for creating a better future. Check out their advice and your opportunities with them at http://www.cbroftx.com/gonow
