Playing With Paper.
Not sure about this whole investing thing? It can be fairly easy and straightforward to get set up with a brokerage and even link your existing bank account, then what? Start buying stocks …buy, buy, buy! Okay, maybe not so fast. There may be a few things to learn first, like what stock to choose and even if it’s a good time to buy it. Luckily, there’s plenty of instruction and guidance available whether you want to learn about buying stocks, mutual funds, bonds, commodities and the list goes on. Some instruction is free, some is pay per play, most is good and some is great. Either way, once you have got some sort of an idea of what to buy and how …buy, buy, buy! Wait, not so fast, first you’ll need money, money, money! Well before you go risking your cash you can maybe try trading with “paper” or “paper money” that is, trading with not so real cash. You can do what’s known as paper trading to maybe get a feel for what you’re doing, try out a few strategies, buy some stock and see how things go before you actually go live and start using your “actual” cash. But don’t go trading off all your good luck with the paper money trading, save some of that good luck for executing real trades and investments.