How to Make a killing on wall street from home
The stock market can be a very intimidating environment to try to do business. Once you read my how to guide you'll be ready to make a ton of money on wall street from the comfort of your home.
Other People Are Reading
Instructions
-
-
1
undefined
-
2
Education. You need to learn this business and how it really works. don't fret because all this can be learned online and in books. These are a couple websites I used to learn the biz.
http://finance.yahoo.com/education
http://www.investopedia.com
http://research.scottrade.com/public/knowledgecenter/education/education.asp
do yourself a favor a read as much information on these websites as you can. When your done look for more. Go down to your local library and take out every book you possibly can about stocks and investing. The more you know, the more money you can make. -
-
3
Publications. Now that you have the basics down, you need to imerse yourself in this vast new world. You need to read at a minimum the Wall Street Journal and Investor's Business Daily. This is where the pulse of the wall street is harboring. You also want to regularly watch CNBC and Bloomberg. The more you know the better of you'll be right? Also recommend Jim Cramer's Mad Money. Jim Cramer demystifies the stock market and investing.
-
4
Experts. Take a look at what the experts are saying. As I mentioned previously, Jim Cramer is a genious. You definately want to listen to what he has to say. Next you want to look out for anything Warren Buffett has to say. He too is a genious and probably the smartest investor alive. Other great investing minds are Peter Lynch, John Templeton, Leon Cooperman among others.
-
5
Invest in what you know. If your passion is electronics then look at companies like Best Buy and Microsoft. If you're a web guy then look at google and yahoo. Bottom line you need to understand what you investing in. Me personally I like oil stocks and automobiles. I get them. I know what makes them money and I know how to look for the best of the best. This is extremely important. Do not invest in what you don't know. Don't act on tips. Tips are for suckers!
-
6
Financials. Now that you really have your hand on the pulse of the market you need to start reading financials. I always use yahoo finance to do my research. Yahoo organizes the information so that it's very easy to understand and evaluate. Make sure to pay close attention to the quarterly and annual reports. These reports tell what's really going on within the company. Once you've found the top 5 stocks in a certain industry start weeding out the best companies out of these until you have 2-3 companies. These companies must have a nice financial outlook and great price. Nothing worse than investing in an overpriced stock. Bottom line. Do your homework.
-
7
See what analyst's are saying about the stock. an analyst has a hug amount of power when it comes to stock and stock movement. They can come out and recommend to buy the stock and it's price goes through the roof. They can also come out and recommend to sell the stock and it plummets. You want to pick stocks that have a better than average or better than competition analyst rating. This probably seems obvious but it's worth noting.
-
8
Pull the trigger and buy the stocks. Once you've done all your homework and you feel confident in a stock(s) go online and buy it. don't sit around all day checking the price every 3 seconds. This will drive you mad. Check in every couple days and see how it's doing. Then get back to work and find some more!
-
1
Tips & Warnings
Do your homework. You can never know too much about a company and it's stock.
Put the time in. You need to find the next big stock. nobody is going to give you anything and if they are run for the hills!
Don't invest money that you ccan't live without. Your setting yourself up for a huge loss.
