It's been a very long weekend! I meant to write this blog a while back but i haven't been able to pull my self away from essay/presentation/work. But that's enough whining, I'll get to that in another blog.
Meanwhile I think this will be one of the most important blogs I write (for those with less experience). Reason being; everything you do in the world is dependent on information. Great information yields great results (given proper analysis is applied to that information), in contrast even if you apply the best analysis to faulty or inaccurate information you would be hard pressed to see good results from your analysis.... ok ok ok Sydney What are you trying to say here (succinct and straight to the point!!!) Well what I'm trying to say is if you don't find good information, then making consistent profits will be like fishing with no string (yes that's the best analogy i could come up with.)
When I begun market analysis the first website i visited was http://finance.yahoo.com I'm pretty sure the only reason i stayed on that site was because it was relatively colorful (and maybe i had no one to creep on facebook.) For a complete novice that junk looked like "gibberish", I had taken a few finance classes so i knew what the market was (in a very general sense) but I had no idea what the S&P 500 was, no idea what kind of information I could find on the website, essentially I had no clue what I was doing. So I decided to take baby steps, my best friend (in terms of websites, you'll never be replaced friend!) for a while as a website called "how the market works" coupled with the dictionary on Investopedia (Which i still refer to till this very day.) gave me a plethora of information in lay mans terms. I hated reading things that overly complicated concepts, I found how the market works to be very helpful in this regard, and wherever i ran into trouble investopedia would help me out. I learned (or re-learned) everything from: what a stock is all the way to what the SEC does in a short time, all i had to do was read definitions and let them make sense to me.
How the market works gave me my first set of tools, it gave me a nudge to jump in the door(so to speak) it let me get my feet wet, but believe it or not, it's not what got me completely head over heels for equities. My infatuation came from a book,( as you can tell by now i wasn't interested in the complicated stuff) It was a how to for dummies book actually. It was called " How to invest in the Canadian stock market for dummies" At that time i didn't know the distinction between investing and trading. The book clearly showed me that and introduced me to what i believe is the most fascinating aspect of equity analysis which is: Technical analysis.
To keep this blog relatively short and not bore you to death I will end here, but if you're a novice trader, or you just want to learn more even for a minute, I suggest you check out "How the Market Works" website. Its very informative and a great foot in the door!
Till later, Trade Strong (how about this one, it was suggested. BLAOW!)
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