By Eric Joranson
You don’t just dive into high stakes poker if you’ve never shuffled a deck. Just like you don’t run the Boston Marathon until you get some new Nikes. What about throwing your cash at Wall Street. Options, futures? Commodities. Penny-stocks? Ahem, come again?
A newbie investor trying to pick the next Microsoft is like the tee-ball team trying to hit a grandslam off Nolan Ryan. But if you’re like most novice investors, the fear of a big strike out is real enough that you might never even play the game.
The key – simplify things. Take these tips to heart. You’ll be swinging for the fences before you know it.
play small ball
Beginners have no clue where to even start. Scared they’ll throw their cash at Enron, and not Apple. Lycos, not Google. Crystal Pepsi, not Redbull. The key is to just start – but start small.
Gradually build your portfolio over the long haul. Toss 20 bucks at Target, and check in after 2 months. Fantasy trading is another option. Yahoo! Finance lets you do unlimited mock trades until you get your feet wet. Try your hand with training wheels. Poker chips instead of paper bills. It might whet your appetite for the real deal.