The Three Investments You Should Make
The key to a successful trade (and pretty much everything we do in our life) is knowledge. Hence, the saying; knowledge is power. For new traders, it is especially important to gain as much knowledge as possible about trading and investment to equip yourself with the right kind of information. But how do you achieve that? We list three vital investments you should make that will help you gain more knowledge and trade successfully.
Investment #1: Get the Internet
The Internet provides a vast amount of learning resources such as news, market analysis, articles and tutorials as well as historical market data that will help you understand market trends to meet your trading targets. There are also trading tools you can use online such as trading simulator to practice trading, charting software to analyze products across different exchanges and even trading software to manage your own trading.
So if you don’t already have your own Internet connection, it is best to get one now before you lose out to other technology-savvy traders.
Investment #2: Read books
Books have long provided us with knowledge. As with any topic, there are a lot of books about trading and investing in the market to help you extend your knowledge. Among the top books recommended by experts are:
- The Intelligent Investor by Benjamin Graham
- One Up on Wall Street by Peter Lynch
- Japanese Candlestick Charting Techniques by Steve Nison
- Technical Analysis of the Financial Markets by John J. Murphy
- Market Wizards by Jack Schwager
No matter what market you are trading, reading these books will definitely help you.
Investment #3: Attend trading/investment events
Attending trading or investment events such as seminars or talks is a very effective way of getting the hands-on information you need to start trading. As these events are hosted by professional traders, they usually give tips and share their experience during the talk. You get the opportunity to learn from someone who has the knowledge and experience in trading. You also get the chance to meet other investors and traders where you can compare notes and also learn from them too.
Wan Zuraiha Wan Zakaria is a staff writer at Oriental Pacific Futures (OPF) where she writes on investment and trading. OPF is a futures and options broker based in Kuala Lumpur, Malaysia and provides electronic trading, brokerage and clearing services to retail and institutional traders since 2007. OPF is licensed under the Securities Commissions of Malaysia and offers cash-settled derivatives instruments traded on Bursa Malaysia, as well as select major derivatives exchanges around the world.
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