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Jesse posted a article in Trading BlogWith the exception of the books, everything is available for free. Even then, you might be able to find a copy of some of the books at your local library. Books Simple Wealth, Inevitable Wealth by Nick Murray Stocks for the Long Run by Jeremy Siegel The Investment Answer by Dan Goldie & Gordon Murray Reducing the Risk of Black Swans by Larry Swedroe & Kevin Grogan Your Complete Guide to Factor Based Investing by Larry Swedroe & Andrew Berkin Your Complete Guide to a Successful & Secure Retirement by Larry Swedroe & Kevin Grogan Blogs & Columns Dimensional Perspectives Fama/French Forum Oblivious Investor The Evidence Based Investor Paul Merriman Wall St Journal: The Intelligent Investor by Jason Zweig Papers Volatility and Premiums in US Equity Returns Volatility Lessons Volatility Risk Premium and Financial Distress Understanding the Volatility Risk Premium Podcasts & Videos Ben Felix: Common Sense Investing Dimensional Fund Advisors The Meb Faber Show Rational Reminder Paul Merriman Down the Middle Bogleheads on Investing Masters in Business There are many others in each topic that I could have easily listed, but this is more than enough for a genuinely interested investor to dig into that covers both financial planning and long-term investing. What am I missing that has been particularly helpful for you? Please feel free to share in the comments section below. Jesse Blom is a licensed investment advisor and Vice President of Lorintine Capital, LP. He provides investment advice to clients all over the United States and around the world. Jesse has been in financial services since 2008 and is a CERTIFIED FINANCIAL PLANNER™ professional. Working with a CFP® professional represents the highest standard of financial planning advice. Jesse has a Bachelor of Science in Finance from Oral Roberts University. Jesse manages the Steady Momentum service, and regularly incorporates options into client portfolios.
Especially when it comes to investing, there are many schemes out there which promise fast money with very little research or work involved. Sadly, a lot of people fall for these schemes, believing that if the company seems legitimate, they must know what they’re doing. It’s a recipe for disaster when putting your money in the hands of untrustworthy sources. New traders don’t have to be prey for scammers, however. With the right advice, research and commitment, new traders can become successful in their endeavours in what seems like no time. Learning the trade takes time and work, but with good guidance, success can and will come your way. Here are the best pieces of advice any new trader could follow. 1. Invest time before money Of course, this doesn’t mean literal time must be invested. But the importance of this statement is that before you begin trading, the research must be done. Trading is like any job you take seriously; it requires concentration, dedication, and acceptance that things don’t always work out the way you want. Avoiding running before you can walk means finding the best trading platform for you and learning how it works, inside and out. Keeping up with key events that affect the stock market is of paramount importance. The better you understand how these fluctuations work, the better equipped you are to begin trading. Nowadays, there are so many fantastic sources from which to learn: check out TED talks, and reputable economic report sources, to begin with. Seek advice from friends or family who have been involved in trading before; learn from others’ mistakes before you make your own. The more research you do, the more you learn that making mistakes in the trading business is inevitable. The foundation of knowledge you build before you begin doesn’t just set you up for success, it prepares you for the downfalls of trading too. 2. Learn your terminology Traders speak their own special kind of language. To the average non-trader, reading a report or listening to a professional trader speak would be about as helpful as listening to someone speak another language altogether. There are hundreds of terms to learn, and being up to date on this language is a serious step in your journey to becoming a seasoned trader. Speaking the language will assist your ability to trade wisely and with confidence; stumbling around in the dark, however, might increase your risk of unwise investments. Understanding the money side of things is the easy part; using helpful online tools such as a dollar cost averaging calculator can tell you all you need to know. Having the lingo nailed is not just about looking good; it could save your bacon, too. Misunderstanding a report’s findings could lead you to make a mistake in where you put your money. 3. Ask yourself what you want Trading isn’t just financial, it’s emotional. The emotional mistakes that can be made as a new trader are frequent and many, and there is plenty of advice written about how to avoid them. However, one thing less frequently explained is that in order to begin as a trader you must ask yourself what your goals are. The life of a trader sounds easy - you invest money, you profit, or fail. However, the time, effort and elements of risk that trading involves are not for everybody. All traders want to make money, but are you willing to go the distance? There will be elements of trading which can make you stressed, as with any job or investment, but those who stick to a long term plan and move steadily to meet their goals are the ones that succeed. Getting rich quick is not the aim of a successful trader; it is a marathon, not a sprint. Discussing your plans to be involved in trading with your significant other, friends and family is important - especially if your finances are tied up with theirs. Although trading can reap incredible rewards, it can take a significant amount of time to get it right. Reading up, finding the right platform and accepting the journey will all allow you to enter this exciting world head-on. This is a contributed post.