Unfortunately, not many such millionaires are willing to disclose how they did it. And even those who did let out their secret at a price you’ll probably struggle to cough out in your current situation. After reading this ‘Stock Investment for Dummies’ article, you’d have learned how easy it can be for you too to make thousands or even millions of dollars by just finding your way around the stock market.
How to Make Millions by Investing in Stock
- First, you need to understand how to find stocks with potential for success; you need to know what investment company (e.g. e-Trade, Ameritrade, etc) and you need to know when to either hold on to your stock or let them go to avoid losing too much money. However, you should bear in mind that sometimes, making millions with a stock investing business model requires luck especially if you do not know exactly what you’re doing or if you do not intend to hold on to your stocks for a long period of time.
- Read Books and Educate Yourself – To improve your investment skills a good way to go about it is to read as about stock investing as possible; this is what ‘Stock Investing for Dummies’ is set aside to help you with. Task yourself to read books and reports by well known authors or books about successful stock market investors like Warren Buffet, Peter Lynch, and the likes. A good book to start with is “Streetsmart Guide to Timing the Stock Market – When to Buy, Sell and Sell Short” by Colin Alexander. Reading the books will teach you all the stock investing basics you need to know and how you too can begin making your own millions as soon as possible.
- A quick tip and secret to remember is “Buy Good Stock at Fair Prices”. The likes of Warren Buffet and Peter Lynch (two of the world’s most success business investors) build their success around this concept. Each has made billions using these technique (with Warren Buffet consecutively recognised as one of the top 3 richest men in the world over the last decade). What this means is that, to be successful in investing in stocks, you need to find good companies with good track records but yet offer their stocks at relatively low prices. This technique may seem like a daunting task, but if you’re willing to make the millions you so dream of, it’s one that’s easy and can and must be mastered.
Another secret is to be very slow to selling your stocks even when everything points to a possible lose. If you do you homework, you’ll discover that most successful stock traders like Warren hardly or ever sell their stocks. This is the main secret to making millions using stock investing.