Your Questions About Paper Trading Stocks

Steven asks…

Where can I get info about the stock market?

I’m interested in taking some online classes in the stock market. Does anyone know of any reputable schools that offer stock market classes? I want to learn some advanced trading techniques and stock analysis.

Perhaps there are books, DVDs, or other resources I can get my hands on to learn about the stock market. Does anyone have some suggestions?

John answers:

Start your education by learning why you should invest and the importance of being able to make your own decisions or how the pro’s make theirs.
Here is some reading material that can get you started in the right direction,
Beating the Street by Peter Lynch
Bulls Make Money, Bears Make Money, Pigs Get Slaughtered, by Gallea
From Riches to Rags, by I.C. Freeley
Millionaire Traders, Lein & Schlosberg
How to Make Money in Stocks” by William O’Neil
24 Essential Lessons for Investment Success by William O’Neil
The Intelligent Investor, by Benjamin Graham
Common Stocks, Uncommon Profits, by Philip A. Fisher
One Up on Wall Street by Peter Lynch
Stocks for the Long Run, by Jeremy Siegel
The Interpretation of Financial Statements by Benjamin Graham
The Lazy Person’s Guide to Investing by Paul B. Farrell
The Warren Buffett Way by Robert Hagstrom
Trading for a Living, by Alexander Elder
Uncover the Secret Hiding Places of Stock Market Profits by Joel Greenblatt.
What Works on Wall Street by James O’Shaunessey
You Can Be a Stock Market Genius by Joel Greenblatt
Your Money and Your Brain by Jason Zweig

Get into the habit of making daily visits to some websites like MSN Money and Yahoo Finance. (http://moneycentral.msn.com/home.asp , http://finance.yahoo.com/

Other website that can provide instructions and help with procedures and terminology are Investopedia – http://www.investopedia.com/ http://www.investorshub.com/
Visit some of the more professional websites like Zacks Research – http://www.zacks.com/ Smart Money – http://www.smartmoney.com/ Schaeffer’s http://www.schaeffersresearch.com/ Some of these web sites will have advertisers who are worth looking into also. And remember, if they offer free information, get it. Or you can meet others who are trading at http://www.moneyshow.com/main.asp

Attend all the free seminars you can, just be careful and don’t get pressured into anything you really don’t want or need. Most schools offer courses in finance and economics, but very few will have courses on the mechanics of the investment markets, if they do try taking the course. You may want to consider on-line courses, the New York Institute of Finance use to have such courses. Try to get some fee information from the stocks exchanges they all have (had) free booklets, SIAC and some of the regulators (FINRA SEC MSRB CBOE) may provide some free literature.

And when you think you want to invest/trade, try some paper trading to test your skills without spending you money http://simulatorinvestopedia.com/ and/or http://www.tradingsimulation.com/

You at least have made the right decision to start investing, this is the first big step and it won’t be your last. Keep taking those steps forward and along the way never take the advice from people that are not in the market or try to tell you not to invest.

Good luck on your journey, study hard and you’ll invest well.

Sharon asks…

How does buying stocks from the stock market work?

I’m looking into buying stocks and I’m eighteen. I this a good idea? I plan on getting myself eduated on this whole stock market thing before i do buy. And I would want to buy a stock from Apple if anything. Is that a good idea?

I’d prefer a answer from someone who’s bought stocks before..

John answers:

One does not buy or sell) stock from or to the stock market. Stocks are traded on the stock market by members of that exchange. If you want to buy stock you must buy from a brokerage firm that is a member of that exchange or a firm who is a correspondent of an exchange member

BUT before you spend $0.01 on any investment, you must know what you’re doing, why you’re doing it and how to do it. Before you invest in any security, the first investment you should make is in yourself, and the best investment you can make is by educating yourself.

Start your education by learning why you should invest and the importance of being able to make your own decisions or how the pro’s make theirs.

Here is some reading material that can get you started in the right direction, you don’t have to read all of them but you should select at least half of them after you have read “Investing for Dummies” by Eric Tyson
Beating the Street by Peter Lynch
Bulls Make Money, Bears Make Money, Pigs Get Slaughtered, by Gallea
Investing for Dummies by Eric Tyson
From Riches to Rags, by I.C. Freeley
Millionaire Traders, Lein & Schlosberg
How to Make Money in Stocks” by William O’Neil
24 Essential Lessons for Investment Success by William O’Neil
The Intelligent Investor, by Benjamin Graham
Common Stocks, Uncommon Profits, by Philip A. Fisher
One Up on Wall Street by Peter Lynch
Stocks for the Long Run, by Jeremy Siegel
The Interpretation of Financial Statements by Benjamin Graham
The Lazy Person’s Guide to Investing by Paul B. Farrell
The Warren Buffett Way by Robert Hagstrom
What Works on Wall Street by James O’Shaunessey
You Can Be a Stock Market Genius by Joel Greenblatt
Your Money and Your Brain by Jason Zweig

Websites that can provide instructions and help with procedures and terminology are Investopedia – http://www.investopedia.com/ http://www.investorshub.com/ and 1 Source for Stocks – http://www.1source4stocks.com/info/stock-analyst-opinion.asp or Smart Money
http://www.smartmoney.com/
Visit some of the more professional websites like Zacks Research – http://www.zacks.com/ Schaeffer’s http://www.schaeffersresearch.com/ Investors Business Daily – http://www.investors.com/default.htm?fromad=1
Some of these web sites will have advertisers who are worth looking into also. And remember, if they offer free information, get it.

Attend all the free seminars you can, just be careful and don’t get pressured into anything you really don’t want or need. Most schools offer courses in finance and economics, but very few will have courses on the mechanics of the investment markets, if they do try taking the course. You may want to consider on-line courses, the New York Institute of Finance use to have such courses. Try to get some fee information from the stocks exchanges they all have (had) free booklets, SIAC and some of the regulators (FINRA SEC MSRB CBOE) may provide some free literature.

And when you think you want to invest/trade, try some paper trading to test your skills without spending you money http://simulatorinvestopedia.com/ http://www.moneyworks4me.com/
and/or http://www.tradingsimulation.com/

You at least have made the right decision to start investing, this is the first big step and it won’t be your last. Keep taking those steps forward and along the way never take the advice from people that are not in the market or try to tell you not to invest.

Good luck on your journey, study hard and you’ll invest well.

Linda asks…

How do stocks/bonds and all that stuff work?

I have “some” money saved (not much) but I heard about stocks & investing money rather than just have sitting in my acct earning a couple of pennies interest a year… I have no idea whatsover about these things…Please explain like if I’m a 5 yr old.

John answers:

In addition to engineer’s answer, I suggest going to investopedia.com

This is a free site AND its one of Y! A’s “knowledgable contributors”.

There are virtually thousands of books and countless articles written about investing in the market.

Here are some of the things I learned:
1] Contrary to what anyone might tell you or what you hear, you don’t have to learn everything about the market. All you have to learn, become knowlegeable about and be comfortable with are 3 to 6 different strategies.

Trading is a very emotional venture. As far as I’m concerned and what I was recently taught:
2] Paper trading or virtual trading isn’t all its represented to be. When first trading, paper trading or virtual trading is a wonderful tool.

To get the full emotion and your attention, just buy a few shares of a stock. Don’t put your whole account or entire portfolio on the line.

3] Penny stocks are very, very, very risky and volatile.

Most folks think its a great way to earn fast, easy money. Believe me: Its not.

The ONLY thing penny stocks are good for is to get folks to part with their hard-earned money.

A few sayings about Wall Street:
There aren’t any gifts on Wall Street!

Trees don’t grow to Heaven. Neither do stocks!

Bulls [Buyers] earn money!
Bears [Sellers] earn money!
Pigs get fat!
Hogs [Greedy traders] get slaughtered!

Plan the trade AND trade the plan!

When a trader breaks his/her trading rules, he/she runs the risk of breaking his her trading account!

Thanks for asking your Q! I enjoyed taking the time to answer it!

VTY,
Ron Berue
Yes, that is my real loast name!

Richard asks…

How can I get started in the stock market and what do I need?

I would like to know where can I go or find the place to buy stocks here in illinois. I really want to get started in the stock market and I dont know if $500 is ok to start with. I need help.

John answers:

Before you spend $0.01 on any investment, you must know what you’re doing, why you’re doing it and how to do it. Before you invest in any security, the first investment you should make is in yourself, and the best investment you can make is by educating yourself.

Start your education by learning why you should invest and the importance of being able to make your own decisions or how the pro’s make theirs. — Start your education by reading “Investing or Dummies” by Eric Tyson.

If you still want to invest you should select some of the following You don’t have to read all of them but select some that you think meet your specific interest.
Beating the Street by Peter Lynch
Bulls Make Money, Bears Make Money, Pigs Get Slaughtered, by Gallea
From Riches to Rags, by I.C. Freeley
Millionaire Traders, Lein & Schlosberg
How to Make Money in Stocks” by William O’Neil
24 Essential Lessons for Investment Success by William O’Neil
The Intelligent Investor, by Benjamin Graham
Common Stocks, Uncommon Profits, by Philip A. Fisher
One Up on Wall Street by Peter Lynch
Stocks for the Long Run, by Jeremy Siegel
Uncover the Secret Hiding Places of Stock Market Profits by Joel Greenblatt.
What Works on Wall Street by James O’Shaunessey
You Can Be a Stock Market Genius by Joel Greenblatt
Your Money and Your Brain by Jason Zweig

Websites that can provide instructions and help with procedures and terminology are Investopedia – http://www.investopedia.com/ http://www.investorshub.com/ and 1 Source for Stocks – http://www.1source4stocks.com/info/stock-analyst-opinion.asp or Smart Money
http://www.smartmoney.com/
Visit some of the more professional websites like Zacks Research – http://www.zacks.com/ Schaeffer’s http://www.schaeffersresearch.com/ Investors Business Daily – http://www.investors.com/default.htm?fromad=1
Some of these web sites will have advertisers who are worth looking into also. And remember, if they offer free information, get it.

Attend all the free seminars you can, just be careful and don’t get pressured into anything you really don’t want or need. Most schools offer courses in finance and economics, but very few will have courses on the mechanics of the investment markets, if they do try taking the course. You may want to consider on-line courses, the New York Institute of Finance use to have such courses. Try to get some fee information from the stocks exchanges they all have (had) free booklets, SIAC and some of the regulators (FINRA SEC MSRB CBOE) may provide some free literature.

And when you think you want to invest/trade, try some paper trading to test your skills without spending you money http://simulatorinvestopedia.com/ http://www.moneyworks4me.com/
and/or http://www.tradingsimulation.com/

You at least have made the right decision to start investing, this is the first big step and it won’t be your last. Keep taking those steps forward and along the way never take the advice from people that are not in the market or try to tell you not to invest.

Good luck on your journey, study hard and you’ll invest well.

Laura asks…

How to sell a stock on the virtual stock exchange game on Marketwatch.com?

Does anyone know how to sell a stock on the Marketwatch virtual stock exchange game? I can’t seem to sell my share of stocks that I bought a week ago. Is it because I have to wait a few hrs before the stock market opens before I can sell?

John answers:

1. Paper trading is the act of buying and selling stocks on a virtual stock exchange. Money is neither lost nor gained when doing paper trading. The virtual stock exchange exchanges securities based on the recent price of the stock. Virtual securities are not exchanged between traders on virtual stock exchanges. Trading the virtual stock exchange is a way to evaluate if a trading strategy will be profitable.

2. The game is played on the basis of real stocks and real information available on various websites.

3. Please read detailed instructions on “How to Play Virtual Stock Exchange – By Liam Walter” at the under noted site:

http://www.ehow.com/how_6671560_play-virtual-stock-exchange.htmlhttp://www.ehow.com/how_6671560_play-virtual-stock-exchange.html#ixzz2MgfsgYU4
.

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