2 answers
VICTOR
Student
Oklahoma City, Oklahoma
1
Question
Asked
1126 views
How can i go on about my Finance skills; to become a good trader and analyze the market. I'd like to furthermore into the crypto world and know coins with potentials"?
I'm still a kid but interested in Finance..
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2 answers
Grant Conrad
Risk & Financial Advisory Analyst
25
Answers
Seattle, Washington
Updated
Grant’s Answer
Hi Victor! Here are some ways you can gain more finance skills and prepare for a career in finance:
1. Education: Start with understanding the basics of finance, economics, and investment. There are a bunch of resources available online that you can use, such as Investopedia, Coursera, or Khan Academy. Consider taking courses in economics, finance, mathematics, and statistics.
2. Read Widely: Make a habit of reading finance and investment books. Some recommendations include "The Intelligent Investor" by Benjamin Graham, "Common Stocks and Uncommon Profits" by Philip Fisher, and "A Random Walk Down Wall Street" by Burton Malkiel. Also, stay updated with financial news on platforms like Bloomberg, Financial Times, or CNBC.
3. Paper Trading: Before investing real money, start with paper trading. It's a risk-free way of learning how to trade and understanding market dynamics. You can use platforms like Investopedia's Stock Simulator.
4. Learn Technical Analysis: This includes reading charts, understanding trends, and using indicators. There are many online tutorials available for this, and plenty of books on the subject such as "Technical Analysis of the Financial Markets" by John Murphy.
5. Understand Cryptocurrency: If you're interested in crypto, start by understanding what it is, how it works, and its pros and cons. Research about blockchain technology as well. You can use platforms like Coin Market Cap or Binance Academy for learning and tracking different coins.
6. Mentorship and Networking: Try to find mentors who are experienced in trading and can guide you. You can also join investment clubs at school or in your community to learn and share ideas. Participate in online forums like Reddit's r/investing or r/cryptocurrency.
I hope this helps!
1. Education: Start with understanding the basics of finance, economics, and investment. There are a bunch of resources available online that you can use, such as Investopedia, Coursera, or Khan Academy. Consider taking courses in economics, finance, mathematics, and statistics.
2. Read Widely: Make a habit of reading finance and investment books. Some recommendations include "The Intelligent Investor" by Benjamin Graham, "Common Stocks and Uncommon Profits" by Philip Fisher, and "A Random Walk Down Wall Street" by Burton Malkiel. Also, stay updated with financial news on platforms like Bloomberg, Financial Times, or CNBC.
3. Paper Trading: Before investing real money, start with paper trading. It's a risk-free way of learning how to trade and understanding market dynamics. You can use platforms like Investopedia's Stock Simulator.
4. Learn Technical Analysis: This includes reading charts, understanding trends, and using indicators. There are many online tutorials available for this, and plenty of books on the subject such as "Technical Analysis of the Financial Markets" by John Murphy.
5. Understand Cryptocurrency: If you're interested in crypto, start by understanding what it is, how it works, and its pros and cons. Research about blockchain technology as well. You can use platforms like Coin Market Cap or Binance Academy for learning and tracking different coins.
6. Mentorship and Networking: Try to find mentors who are experienced in trading and can guide you. You can also join investment clubs at school or in your community to learn and share ideas. Participate in online forums like Reddit's r/investing or r/cryptocurrency.
I hope this helps!
Travis McGee, CPA
Audit Manager
3
Answers
Sacramento, California
Updated
Travis’s Answer
I loved the previous answer and I agree wholeheartedly with Grant's answer above. Education is the key and I don't mean formal education, yes, formal education can be a great tool. However, there are a lot of free resources out there to help you gain knowledge. Coinbase is a digital wallet service, where you can trade crypto's. I am not saying to start trading right away, but they have videos of the different cryptos out there and how they differentiate from each other.