10 Investment Tips for Beginners: #10. Try before you buy.
Posted on | April 23, 2009 |
Once you’ve educated yourself and you’re feeling like you’ve got a handle on this investing thing, try our your ideas and methods in a simulator. A virtual stock market website will not only let you test your ideas - it will let you test your resolve. You may find out that after 6 months, you’ve fallen into the trap described in Investment Tips : # 5 for Beginners and stopped paying attention only to realize later that your fantasy portfolio is in the tank.
Here are 2 free stock market simulators I’ve used in the past:
As I say, both are free and both let you create multiple portfolios with whatever amount of cash you want to play with set aside at the start. You can also compete against other investors if that’s your thing.
If you liked this, you may also like:
Jim Cramer’s 10 commandments of stock trading.
25 Investment rules from Jim Cramer.
Cramer’s Top 5 Picks for Stocks to Buy
Cramer’s Bottom 5 Picks for Stocks to Buy
- The "Buy American" Act and Economic Depression.
- 10 Investment Tips for Beginners: #3. Don't confuse investing with trading.
- Jim Cramer's Tips for Detecting Sector Rotation Stock Bottoms
- 10 Investment Tips for Beginners: #6. Pay attention to risk.
- Peter Schiff's New Book: (4) Buy Foreign, But Not ADRs
- How Does the Stock Market Compare to Fantasy Baseball?
- What to do with Unwanted or Semi Used Gift Cards
- frugality versus self-sufficiency
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