As I was walking on the street today, I passed by an advertisement of an investment house. It stated “Be An Investor, Don’t Be A Gambler”. I could not agree more with this statement when it comes to money investment or trading in the stock market. You simply cannot have the gambling mindset if you like to make money in the stock market.
Many millionaires are born in the market simply not because they have very good skills or technique to forecast the market direction. The simple reason is that they have a system to follow when they trade or invest in the stock market.
Would you like to be a millionaire in the stock market? Let’s find out now!
Stock Market Millionaire
Many Of Us Are Gambler in Stock Market
Many of us get into the stock market wishing to make BIG BIG money at the FASTEST and SHORTEST time. That’s a gambler mindset. Imagine this, you heard your friends, or your relatives talking about a specific stock counter, how fast it grows and how it make money. I am sure you will start to feel a bit greedy and like to involve in the game. Then, you follow their suggestion, call up your broker and place an order. Good, the stock started to grow, but suddenly it crashed. You ended up holding on to the stock with huge paper loss.
Does that sound familiar to you? This is the mindset just that you are walking into the casino. You are betting that the market with 50-50 chance of winning. You are a follower and you make decision based on gossip, rumour or broadcast news. You are wishing simply that there is a day that the money pouring down from the sky and all lands into your garage.
Stop this day dreaming! You cannot become a millionaire this way, you can only become a millionaire loser.
Do NOT rely on luck, gossip, rumour or news if you are serious about making money in the stock market.
Be A Wise Investor To Learn
There is not free lunch in the world. It is the same in the stock market. No doubt that there are many people making millions in the stock market. But it simply did not happen by luck.
If you are serious and want to be a millionaire in the stock market, you must be willing to learn. There are 2 main schools in stock market analysis. They are fundamental analysis or technical analysis. They both have pros and cons and none of them is perfect. However, analysing the market helps you to gather more information about the stock market trends or the stock valuation so that you can make an informed decision on what to buy or short.
This approach is a total contrast to placing order simply listening to your friends or relatives or even your brokers. Remember, they are not responsible for your money, only you are responsible for your own money.
When it comes to money, stay alert to learn!
Practice Makes Perfect in Stock Market
Like I mentioned earler, there is not free lunch about making money in the stock market. You simply need to learn and practice. You need to first decide if you like technical analysis more or fundamental analysis. You can pick one to start. Personally I like technical analysis because I am a visual person. I like to look at chart more than the accounting ratio or balance sheet.
You do not need to know both technical and fundamental analysis together, you can pick one to start. I learned quite a lots from the free stock market seminars on INO.TV. You can check it out to watch the video and start learning.
Next, you need practice. Sometimes, I know it is a difficult decision to put your hard earn money into the practice. So, you can start with paper trading first. One of the best website I found is Wall Street Survivor. It is an online stock market trading simulation and you can perform paper trading on the system to sharpen your up your skill.
So, listen to the video seminar to learn and practice on the stock market simulator is your first step toward being millionaires in the stock market.
I wish you success!
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