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Picking The Best Stock To Buy Right Now with Expert Advise
Picking The Best Stock To Buy Right Now with Expert Advise
To find the best stocks to buy right now, you need to first realize that you will never find a good list of stocks to buy.
Tanjong Pagar,
Singapore,
Singapore
(prbd.net)
17/12/2010
Tanjong Pagar, Singapore ( prbd ) December 16, 2010 - To find the best stocks to buy right now, you need to first realize that you will never find a good list of stocks to buy. Many investors simply spend their time searching online for the latest list of hot sticks to purchase, but this approach does not work. The reason is, if any stock trading blog or magazine had inside info on the best stock to buy right now, it would become outdated almost immediately. This is because everyone would rush to buy it, and it would soon become overpriced. Also, if anybody really knew the best stocks to buy right now, you can be sure they are not going to ruin it for themselves by telling everyone else.
In an online interview, the Founder of” A Timid Trader” Blog, Mr Kevin Ng said that for the same reason; make sure you avoid the news. The news is equally ineffective for finding the best stock to buy right now, simply because so many other investors have access to it. The split second of a piece of breaking news hits the wire about a company, there is going to be a massive rush to buy it. Therefore, you will get in on it too late.
Mr Kevin Ng advises that the only way to find the best stock to buy right now is to become educated. It is true that this will take some time and effort, but it is far more productive than reading a laundry list of outdated stocks. First, you need to identify whether you are going to be a long or short term investor. This is imperative, because it will determine what criteria you use to find the top stocks.
For instance, becoming a day trader will obviously require frequency stock investing. If you opt to become a long term trader, this will require much lower trade volume, as the goal is to hold a stock for months and even years.
Therefore, in this scenario you are far less interested in the day to day price swings.
Which strategy you pick for finding the best stock to buy right now really depends largely on your temperament, as well as your career goals. Both long and short term investing can be very profitable, but they are extremely different. For example, as a day trader, you will basically never get a day off. Therefore, this would make sense if you love trading, and want to make it a career. However, if your goal is passive income, then long term trading is for you.
Once you know your strategy for finding the best stock to buy right now, now you can proceed to actually finding them. If you decided to become a day trader, then you will have to get really adept at identifying the short term trends of a stock. This will require you to get good at reading stock charts. On the other hand, long term investing will require a different approach, because here you will need to analyze the company as a whole, and make your decision on the best stock to buy right now accordingly. Long term traders look more at the company itself than the stock price, whereas day traders are focused exclusively on the market price.
The best stock trading strategy, therefore, is to first identify your strategy based on your temperament. Then, you need to become educated, and learn how to identify a good stock on your own. This is more difficult than simply reading a list of the best stock to buy right now, but it is also far more profitable.
If you want to learn more about stock trading, please visit http://atimidtrader.com
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About
Hi, I am Kevin. I’m your average joe on the street, so average that you would probably not notice me when you walked pass me. I started investing way back in the early 2000s where the internet boom was the talk of the town. I decided to join in the fray. As a newbie to the world of investing, i know nothing besides applying for Initial Public Offer (IPO).
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