subject: Getting Yourself Involved In The World Of Trading [print this page] Getting Yourself Involved In The World Of Trading
The NYSE or New York Stock Exchange has been a leading player in the American financial market for over two hundred years. The trading market has long been an exciting arena where fortunes are won and lost every day. Countless movies and books have all been written for this group of elite traders and about the exciting stories of brilliant, ruthless, or lucky traders. If you are like thousands of other Americans, you are probably itching to find your spot on the trading room floor in one way or another.There are many ways to participate in the trading market. While only a relatively select few traders actually have the privilege to work from the trade floor in New York, by far the largest number of stock brokers and traders still participate in these activities every day remotely. Whether you choose to submit the trade request yourself, through your broker, or an online trading firm, you can essentially join in on the excitement of Wall Street from home.The principles of trading are very basic and consistent across most trading strategies, although the actual implementation and mastery of trading is the subject of an immense amount of debate and discussions. While fortunes may be made on Wall Street, many fortunes have also been made writing and teaching about Wall Street. The important thing to figure out is what type of trader you want to be.Day trading is often viewed in an exciting light and conjures up images of luxurious lifestyles where a budding investor works from home and makes thousands of dollars while sipping his coffee in pajamas. While there may be some investors who can pull this off, overall day trading is a highly volatile and risky endeavor. By far, more traders lose money trying to day trade than make money. If this is the approach you wish to take, be certain you know exactly what you are doing before putting your hard earned money on the line.Short term and long term investing is the next choice for market involvement. Most investors will choose to be in one of these two categories. Retirement funds are often long term investments. Mutual funds managed by an experienced broker are another common, and smart, choice for those who do not wish to micromanage their own stocks on such an intense level. There are a lot of options out there, and finding the investment type that you are most comfortable will get you off to a great start in the trading market.
