Starting something new is never easy. Especially something that you’ve never been taught, costs money and has been designed in a way that really isn’t easily accessible to women. Well, here are 11 ways for you to learn to trade that will be as fun and female friendly as possible!
And, unlike many other money-making opportunities the skills and strategies you pick up from trading will be relevant in a month, a year or even decades after. All you’ll need is time, patience and the right mindset.
Ready to make some bank? Check out these 11 great ways to learn stock market trading:
1. Dive Right in! Learning To Trade ‘On The Job’
Sometimes the best way to learn the basics of trading is to take the plunge and head straight to the online trading platform of your choice. Sign up for an account, soak in all that free trading content and trading tools, then familiarise yourself with the dashboard.
There’s also way you can learn to trade without losing actual money. Many offer virtual trading or demo accounts, which is like real trading but with play money. To make it easy, I’ve already done the research for you with the top brokers and platforms here.
2. Drown Yourself in Trading Books
Put down that Fifty Shades and Eat, Pray, Love book everyone’s been gushing about and start reading books that offer trading for beginners. If you like reading and consume content better this way, then these will better than e-courses, webinars and online lectures for you.
If you’re at a loss on what to read, consider William O’Neil’s How To Make Money in Stocks or do a Goodreads search on the best stock trading books available today.
Related Reading: Best Books to Learn To Trade
3. Learn to Trade from Online Articles
Like when you want to find a new recipe or new outfit, just looking online you usually find it. It’s a massive resource for everything, including learning how to trade. For example, StockTrader.com has a free educational page that has more than a hundred different stock and trading articles divided into helpful categories. Afterwards, you can head over for supplementary courses courtesy of Investopedia.com.
A good place for new traders is the ‘Beginner Trading Course’ here on DumbBitchTrades.
4. Get A Trading Mentor
Think of a stock trading mentor like your favourite celebrity or that YouTube girl who gives out great advice regarding beauty tips, makeup and skincare regimen. My favourite is Laura Lee.
In the same vein, that mentor should guide you, recommend useful tools, hand out tips and make sure you learn the ropes of the trading industry.
Everyone has a mentor these days, and it makes learning that much easier. May be get started with this huge list of female traders on Twitter to see who you have the best fit with – and be sure to follow dumbbitchtrades on Instagram.
5. Positive Peer Pressure
Upgrade your friends. I’m not saying your real girlfriends and BFFs, but who you follow online. Instead of just the latest Kardashian craze or fashion line, get your social feeds and notifications full of successful traders will not just inspire you, but also teach you.
Click on that “Follow” button on Instagram and Twitter to get a live feed from experienced traders and investors. A list of popular women traders on Twitter is ready and waiting to give you that head start.
6. Learn to Trade From The Best Traders
Warren Buffet. Paul Tudor Jones. John Templeton. Benjamin Graham.
What do they all have in common? These are the Kylie Jenner, Beyonce and Kim Kardashian of the trading and investment world. Read everything you can about them, including their trading game, investment strategies and how they approach stock opportunities in general.
7. Start Following the Stock Market
We’re talking about another kind of market, one that doesn’t sell fresh produce or the latest fashion lines.
It’s called the stock market, and it’s one of the most important tools you’ll need to have up and running all the time if you’re totally serious about trading. Start out by visiting sites such as Google Finance and Yahoo! Finance to get your feet wet, and if you’re ready then it’s off to stock market staples Bloomberg and Wall Street Journal.
Read headlines, monitor the market and look for 3rd party analyses, trends and economic concepts.
8. Take A Few Online Trading Courses
If like me, you learn by seeing and experiencing, not reading, then this may be a great place to start for you. Sign up for a trading course to get deeper learning on how to start trading stocks. If there are physical courses and seminars available in your area, great (and see below).
For starters, you can take the College Investor’s Investing 101 for an easy-to-follow primer on the stock market as a whole. IBD, or Investors Business Daily is a great platform for various trading courses, workshops and useful tools.
9. Attend Physical Trading Seminars And Courses
As much as us girls like keeping up online, we also like a good face-to-face get together. So why not do trading like the old days and attend physical trading events and seminars. Network and mingle with fellow investors and listen to the success stories of real individuals who found their footing on the stock market. The great thing about these is that most are free and you get a chance to make new friends who you can learn from and be supported on your journey.
10. Start Trading Small to Learn Faster
Your first trade should be conservative. You should never trade more than you can afford to lose. But when starting, it should only be a small percentage of your total pot. Ease yourself to the real world of stock trading, there really is no need to jump head over heels on day one.
Your first boyfriend is rarely the right one.
Trading is the same.
Only through many dates and some bad boyfriends do you find out what is right for you.
Don’t go on a full-blown portfolio or larger positions until you’ve had a good grasp of what’s going on, and what it takes to consistently start making profits. Divvy up your money on several positions so you can stay in the game longer. If you don’t have access to real capital, consider trading via virtual money on a stock simulator or demo trading account.
11. Learn to Trade With Paid Subscriptions
If you’re more the observe-and-learn kind of woman then you may want to consider paid subscriptions. These are online programs that allow you a bird’s-eye view of typical trading activities from independent traders.
12. Bonus: Learn To Trade Course
As you’ve got this far, you’re probably still looking for ways that may help you learn!
At Dumb Bitch Trades we’ve created a Free Trading in 7-Days Course to get you started. If you’re already trading, then may be our Fierce Freebie weekly updates will be the edge that you’re looking for.