The first thing you need to do is spend time in learning the financial market. It’s essential. You cannot invest your money in stocks blind just because someone told you it will profit you. Getting the basic amount of knowledge is a must.
Spend time in theories and reading real-life experiences. Investopedia is one of the best sources to learn about the stock market. As for reading the real-life experience of investors/traders, LetsDiskuss is a great place to begin with.
Indeed, stock trading is a long (LONG) learning curve. And even when you’re in this game for 10-20 years, you’re going to keep on learning new things. But when starting, you need to get your basics clear – like how the market functions, what factors affect the price rise and fall, what trading/investing strategies are best, how to map risk management strategies.
Once you’re done with that, start your research about which shares are doing good and which are doing bad. Identify few of the names in diverse industries. Once you have the names, learn more about those companies, beyond the price history of their stocks, like what kind of management the company has and what future plans does it have. You will gather around loads of data. Analyse them and see which stocks are best suited to purchase.
After having a handful of names, dig into the technical analysis to learn about price movement of those shares. Read what the charts are saying, understand where the price will move and what is the best entry position for you. If you’re going to do trading, you must spend more of your time in technical analysis. It’s also a good idea to consult an expert if you require more assistance. If you’re in this for a long-term, just invest your money in right stocks and at right time and you’re good to go!