All of us have had the experience of receiving bad investment advice. Often time, a co-worker or friend will tout a new product service or other investment opportunity that they claim has an enormous potential for earnings growth. Bitter experience has taught me that, most often, it is only stock hype.
You must be prepared to do the correct research, if you wish to be lucky enough to open the next superstock or new product service which will bring you untold money. But for this, you need to have a mind which can understand rapidly changing stock situations and also a perfect timing.
My best advice is to speak with someone who has been personally successful in playing the stock market. I’m not talking about someone who is a stock or commodities broker. This person should be an outsider who took a chance and won big. Ask this person how they did their research and what made them pick one stock over another.
If you have never invested before then it is better that you first practice it out. Take a moderately large imaginary budget and prepare a worksheet based on whatever happens in the real stock market. Do imaginary transactions based on real time prices but keep track of the transaction costs that are involved. Check out your performance after about two months whether you make some profits, lose your money or break even.
The research should show you the way. Select at company that is intending to market a new product service and purchase the relevant merchandise. Your income will be generated by a successful launch of the new product service. If it fails, then you will have to review your research. Was there an extensive market or audience for the service? Was the product launched in a professional manner? Did the company promote its service well?
Intuition is an amazingly powerful tool we can use to cultivate and predict a winner. Use with caution, however, intuitive powers are based on our own individual life experiences. The result of years of trials and tribulations help to guide our intuition. Professional athletes hone their game to be the very best. They’ve accumulated intuitive skills and developed their strength, over time – to win! Intuition is not exclusive, it is yours too!