Where Can I Get Free Advice to Buy Stocks?

When it comes to making guided decisions in the stock market, many popular newsletters do not provide best stock advice. Instead, it's advisable to rely on articles and news from prominent investors in the country. Follow their insights and developments while considering your own risk appetite and personal financial notes.

For those starting out, there are valuable resources available online. For instance, courses like Udemy's and PipSology can be extremely helpful. When I began my trading journey, I enrolled in an 'Introductory Trading Course' on Udemy, and found PipSology useful as well. Both provided me with a solid foundation.

Choosing a Broker

Once you have some basic knowledge, the next step is to choose a reputable broker who caters to new traders. There are several options available, such as XTB, TurnkeyForex, and LCG. These brokers are known for their user-friendly platforms and simpler interfaces, along with a wealth of educational materials and planning tools.

One of the ways to gauge the reliability of a broker is to look at the reviews and feedback from fellow traders. For instance, I chose Ameritrade and Fxview because of the favorable opinions and reviews I found on Trade 2 Win, MyFxBook, and Elite Trader forums. After using these platforms for nearly a year, I can confidently say that they meet the high standards you would expect from a broker, including fast order execution, timely withdrawals, and attentive customer support.

Free Resources to Boost Your Knowledge

Readily accessible information is a treasure trove for both beginners and seasoned professionals. Instead of paying for detailed advice, you can start with the basics. If you have a background in accounting, finance, or economics, consider delving into beginner-friendly books and articles that can guide you in making informed decisions. Some key books that are worth your time include:

Books for Guidance

How to Make Money in Stocks by William O'Neil: This book by a famous investor provides a process that you can follow, though it might not be for everyone. Get Rich Carefully by Jim Cramer: Yes, the TV personality who frequently appears on CNBC offers valuable insights. The Intelligent Investor by Benjamin Graham: First published in the 1950s, this book has timeless advice on value investing, a style that is currently out of favor but remains a good read. 30 Minute Money Solutions by Christine Benz: A quick read from Morningstar, this book is ideal for a quick financial plan overview.

You can also visit your local public library to explore Value Line Investment Survey. This resource is invaluable for anyone looking to gain a deeper understanding of the stock market.

A key piece of free advice: Don’t jump on the Robinhood bandwagon as a broker. While it might seem free, there are hidden costs. Instead, opt for Schwab or Fidelity, as they offer comprehensive resources, including informational readings and online videos, to aid your learning journey.

Remember, investing requires patience and experience. The current economic environment, with unprecedented actions by the Federal Reserve and central banks, presents both challenges and opportunities. Stay informed and be prepared to adapt your strategies as the market evolves.