Best way to learn

Tammy2

Hi,

I know virtually nothing about investing, but am keen to learn. I've been googling and reading stuff online for the last few days, but much goes over my head. I need to start from scratch.

Funnily enough (ha!) a LivingSocial course called ''Learn to Trade in One Month' CPD Accredited Course - Ten-Part Live Online Financial Trading Course, CPD Accredited' popped up on my FB screen. £19 - apparently a saving of 96%... Is it a rip off or might it be useful?

Failing that, are there any books you would recommend for beginners?

Archi_Bald

There is an awful lot of good information out there that costs you nothing or just a few pounds and gives you a lot more comprehensive information than a trading course. In order for a trading course to be relevant, you would already have made the decision that you want to be a trader. Is that what you have decided to be, and why?

For a good grounding on investing, start here:
https://forums.moneysavingexpert.com/discussion/5043692

tigerspill

Start with Tim Hale's book - Smarter Investing.
I was starting pretty much from scratch and read this carefully over two days. Best £20 I have spent in a while.
It provides a great starting point to allow you to consider investing more confidently and ask more focussed questions relevant to you.

It was on this forum that I was advised to read this book. Glad I took the advice.

AlwaysLearnin

There's a free ebook called "monkey with a pin" which might be a good, easy to read option, to show how trading might not be the best option for a beginner. There's also a cheap ebook called "slow and steady steps" (I think). These might prepare you for the Tim Hale recommendation above, which is heavier going (and can be found cheaper 2nd hand - this is MSE... ).

I would also recommend looking through the 'Investing for beginners' series on the Monevator site (google "monevator investing for beginners", as there are a few)

Obviously this site has some good ideas too!

Read before you act. Good luck

mgarl10024

It depends what you are trying to learn about.

If you are trying to learn about "Trading" - the buying and selling probably frequently of shares etc. then that is one area for study. The Monkey With a Pin book will likely help you here.

Instead, if you are trying to learn about Investing - trying to build wealth over largely the long term and balancing your goals against your risk tolerance - then Tim Hale's book is excellent. The Monevator guides are also excellent.

A slightly controversial statement (perhaps) - but I'd say that these areas are somewhat disparate. Being a relative newbie to it myself, I suspect there are successful traders who know little about investment, and successful investors who know little about trading.

Archi_Bald

mgarl10024 wrote: »

I suspect there are successful traders who know little about investment, and successful investors who know little about trading.

I would agree, both these do exist but I would think many successful investors know enough about trading to stick with investing

Tammy2

I can't see myself as 'a trader', no. But, never say never I just wondered if the course might give some useful insights. However, I'm happier to spend my money / time on recommended books / articles, so that's what I shall do.

Thanks everyone for the suggestions.

SailorSam

Open a free practise a/c with the likes of Share.com...... (others are available),
And then you can play with monopoly money.

Tammy2

SailorSam wrote: »

Open a free practise a/c with the likes of Share.com...... (others are available),
And then you can play with monopoly money.

Sounds interesting (and fun) - I never knew such things existed. Thanks

Kendall80

I have recently uploaded my portfolio onto trustnet. It has useful features/tools that enable you to view such things as sector/asset allocation. The graph of all your funds is a nice feature. You can also make slight changes to the present and view the effect on past performance. Interesting if not that useful. Although it does show how each fund responds to dips and rises. Mine looks a little sorry for itself overall projected over the past year as I hold Russia and I've just recently bought into oil.


You can add multiple play/practice portfolios too which might help you enhance your investment return.

enthusiasticsaver

I am also a novice investor and am reading everything I can on this forum re investing threads and perusing monevator articles and anything else I can lay my hands on. Are you sure though that a trading course will be something to help you? There is an awful lot of online information you can get for free. It seems to me you need to work out why you need to know about investing and if it is for you to accumulate wealth perhaps you need to identify why? Is it for security in your old age or saving for something specific - ie a house, holiday, car as the investments you choose will depend on your ultimate goals?