INVESTING

The Wisdom Of Paper Trading Stock Market Investments Young People Need To Be Made Aware Of   

(By: Norm Rasmussen - Founder of Precious Testimonies Evangelistic Ministries)

I purpose to keep this VERY SIMPLE for those who have almost no experience investing in the Stock Market. You need 3 things starting out:

1) You need access to the Internet.

2) You need to be able to understand a Stock Chart.

3) You need a stock SYMBOL to use the Stock Chart.

To understand what a Stock Chart is, go to http://www.bigcharts.com (or any other website that offers Charting).

There are two things you need to understand once you get on BigCharts: PRICE and TIME FRAME. 

Once you open BigCharts.com, type a stock symbol into the white Search Box at the top of the page. For example, let’s use the stock symbol: TQQQ.

To the right of the Symbol box is the Time Frame. Until you change it, it shows you what TQQQ did for the past year in PRICE. At the bottom of the chart is TIME FRAME.

Change the TIME FRAME to 1 day. What the Day Chart shows you is the price of TQQQ starting at 9:30 Eastern Standard Time (with roughly a 20 minute delay), and the price up until 4:00 P.M.

It is my FIRM opinion that a person should Paper Trade an ETF (Exchange Traded Fund) like TQQQ for a minimum of one year (1 year) before using actual cash to trade with.

It is also my FIRM opinion that unless a person is turning a PROFIT Paper Trading in a year or more, they are not READY to invest in an ETF like TQQQ. 

Liken stock investing/trading to being a business. If a new business is not turning a profit in a year’s time, wise counsel is for them to seriously question whether they are READY YET to make their business profitable. 

BUT if that person is making consistent profits in their ETF once they’ve paper traded with it in a year’s time, the sky is the limit as to how profitable their initial cash investment can become as time passes!