When I first started trading stocks, the only support I had was my daily Wall Street Journal. I didn’t know how to hedge a portfolio against downside risk, search for dividend-paying stocks, or determine when to enter or exit a trade. Over time, I developed an informal network with some guys at work who also had an interest in trading. We shared ideas and supported each other.
These days it is much easier to find a trading support network. If you don’t know where to start, www.meetupcom.com lists trading and investment clubs in your area. Groups typically welcome new members. It is a great way to get exposed to new trading ideas.
Many discount brokerage firms offer free educational tools including videos and webinars. Some firms allow their customers to access virtual online communities where traders can post their trading ideas.
Depending on your budget, you can attend group seminars or get personalized one-on-one coaching. Many options (pun intended) in every price range are available on the Internet. For example, through The Options Lady, I currently offer a three-month coaching package for $360. I specialize in stock and options trading but other coaching firms offer training in technical analysis, forex or futures. Although in-person mentoring is ideal, for clients who live outside San Diego, Skype allows me to share my computer screen so a client can watch me trade in real-time or learn how I research trading ideas and place orders after-hours.
If you are a woman living in the San Diego-area and want to meet other like-minded women and learn about stocks and options, I hold a monthly women-only event called “Women & Wine w/Options.” To register for the next event which will be held on Monday, January 14, please go to http://www.theoptionslady.com/women—wine-w-options.html