Getting into the Trading World? Don’t Miss These 5 Resources You Need in Your Trading Arsenal Today!
Are you interested in trading stocks in Australia? Do you want to become a more efficient and productive trader? Are you nervous about trying the stock market on your own? If you answered “yes” then read on to get our top five resources to add to your trading arsenal.
It’s normal to feel a little apprehensive to start trading with your own money on the stock market, but with a little practice and a little patience, you can begin to learn and make a little extra money for your future.
Here’s all you need to know:
#1: Get a Grasp on the NASDAQ
If you’re going to learn to be a trading pro, you’ve got to understand the stock market. The NASDAQ is a great place to begin learning. What we know about the trading market is that hands down, stocks perform better than other entities you could invest your money in – such as securities, bonds, gold and U.S. Treasury Department bills. These items are long-term investments for your money, but they often do not produce as much revenue for you and they tie up your money longer, when it could be performing at a better rate on the stock market. So start with the NASDAQ guide to begin your journey with stocks. You’ll get a crash course quickly and it will make a big impact on your steps forward.
#2: Visit Share Prices
SharePrices is a great resource for online traders in Australia. On this site you can research share prices, get a history of the stocks you have your eye on, learn about the Australian Share Market, — and much more.
The SharePrices website is user-friendly and has easy to view categories to learn more about different parts of trading and investing. It is updated every day, so you have the latest information on the hottest Australian stocks and the course of the global market. Best of all, SharePrices is free!
#3: Purchase This Book
If you’re serious about getting good at trading, then you should purchase Henry Hazlitt’s “Economics in One Lesson.” This classic book gives you an overview of basic economics lessons in lay language. The chapters are easy to read and short — so in just a few hours you can get a really good basis for understanding economics and ultimately, how the stock market can work for you just by processing the information.
#4: Visit Investopedia
Many people don’t realize that one of the best resources for understanding investment strategies is free and accessible online. It’s called Investopedia. It is a leading source of updated information on finances and investments. Whether you are an amateur trader that is just beginning on your journey to a more tenured investor, you’ll be able to learn from this resource at your own pace. You’ll also have a lot of peace of mind in knowing that Investopedia is run by a group of data and financial experts from NASDAQ – so you’ll get information to reach the best trading decisions for you. Best of all, Investopedia is super easy to use and understand.
#5: Tune in to THIS Podcast
Finally, add a helpful podcast to your trading arsenal. One thing traders are always doing is enriching their investment education — and you can do that too, with a podcast by Larry Summers. Summers is the former secretary of the U.S. Treasury and a president emeritus of Harvard University.
During his podcasts, you’ll dive deep into the stock market and learn how they work. This is critical to making the right decisions when you are buying and trading. In addition, you’ll learn about topics such as debt cycles, different kinds of investments, when to buy and sell, formulas for succeeding—and you’ll get a history of the economic rise and fall of global markets over the decades. All of these topics and more are covered in the weekly podcasts — so over time, you’ll begin to get your own trading knowledge that can inform your trading decisions and help you make better informed ones all on your own!
In conclusion, if you’re experiment with online trading in global markets — including Australia — then it’s time to bulk up your trading toolbox. Keep these five trading tools in mind as you learn the industry — and remember that you will make some mistakes as you practice. Start with a small amount of your money until you can learn the best practices and really understand the stock market. Reach out to experts when you are unsure. The stock market is a risk, but you can become a good trader with practice and research!