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it seems to me mentorship would be best, but given the small city i'm in, i don't think a mentor will be easy to find (i've actually placed an ad in kijiji in my city..we'll see how that goes) otherwise, is there any step by step canadian guide that would be a great place to point me in the right direction? thank you.
 

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There are many ways you can learn how to invest.

This website which is targeted specifically at Canadians and also has things about investing and where to start! I love this site and it has some excellent resources for any level of investor.
http://www.getsmarteraboutmoney.ca/managing-your-money/planning/investing-basics/Pages/default.aspx

Now remember, investing isnt about making money fast its about building up a nestegg so you can prosper later in life and/or for savings goals you intend to meet. There are risks that come along with investing but there are also decent rewards. You need to find a suitable investment style that fits your needs and risk tolerance.
 

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pick 2 or 3 sources of financial news and read them regularly

and read as many of the posts on this forum as you can

do a search for some of the canadian investing and money blogs and read them from time to time

check out investopedia

take your time

never believe there are any "can't miss" opportunities .. there are'nt
 

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thx for the quick feedback, folks..and the welcome..i was going to post a bit of a bio originally..lol..i'm 49, currently employed full time in an industry i've known and loved for 30 years but due to circumstances beyond my control, i think i'm going to be terminated. i've always had an interest in learning how the stock market and some recent career evals i've recently completed indicate that that sort of thing would suit me. i'll be in a situation whereby i will likely have 2 options. one is to get 24 months pay but i won't be able to work for any employer..or take 12 months pay and can work right away. the industry i'm in is very specialized so the options are slim to none for re-employment. and i certainly can't sit around for 24 months doing nothing..i would like to be my own boss, i have a bad back so i can't do a physical labour type job 40 hours a week i don't think and i'm single with little responsibility beyond to myself..so i'm thinking herin lies a potential opportunity for me to learn, work at it and see where i can go with it. i have some working capital to play with..and plenty of time if i get let go. what are my goals. well, ultimately do something different for the next 11 years of my life that offers me the potential for great financial rewards, if i can get good at it:)

what are good financial publications to read daily to keep on top of business that you'd recommend? i could make some guesses, but it isn't a test:)
 

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Discussion Starter #6
ps- once i feel comfortable to get into the game, i'm thinking to start with qwes trade...i have some resources financially i can put towards this, but not so much that i'm going to set 50K aside from it at this point.
 

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Does your company offer transition assistance. While it is usually aimed at getting re-employed, you could get a fee-based financial planner to set up a ten-year plan for you.
 

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i i have some working capital to play with..and plenty of time if i get let go. what are my goals. well, ultimately do something different for the next 11 years of my life that offers me the potential for great financial rewards, if i can get good at it:)

what are good financial publications to read daily to keep on top of business that you'd recommend? i could make some guesses, but it isn't a test:)
It kind of sounds like you want to get into short term/swing trading , if so , you probably won't get too much support here:eek: , and rightly so , it could be a disaster for one new to investing in general.

I use Google finance to keep track of day to day prices and movements , it's easy to set up a portfolio there and practice without risk , it's free as well.

Stockhouse is a great source of information as many of the posters there are very experienced and sophisticated investors/traders , I learn a lot there by reading others posts.

I don't pay too much attention to analysts , I check in with Canadian Insider every day to monitor insider trading of stocks I am invested in.

If you're into biotech stocks , the FDA has a site that lists upcoming approvals and applications.

For long term investing I favor income producing stocks , REITs are my choice but any good dividend paying stocks are good IMHO.

I won't say too much about swing trading , because according to others here , it can't be done profitably , and if it is , it is just luck.:p

Allthough , from the perspective of one who has done very well at it lately , I respectfully disagree.

Welcome to the forum , and good luck.
 

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is there any step by step canadian guide that would be a great place to point me in the right direction? thank you.
I really liked "The Beginner's Guide to Investing" by Richard Croft and Eric Kirzner.
It's for the Canadian market and IMHO does a good job of putting some life into a subject that sometimes is dry.

I also liked "The Wealthy Barber" by David Chilton.


In any case, the key is to keep learning and remember investing, like any other skill, is best learned a step at a time.
 

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One thing I have heard from successful traders is that you have to pay your tuition before you can become good at trading. The cost of the tuition will probably break you however, before you become good at it if you ever do. That cost of course is learning how to take a loss and learning how to deal with your winners. Dennis Gartman says he loses on well over half his trades but it is how he has dealt with his winners that has made him money.
 

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Best advice? (sad but true) jump in when you think you are ready. Get burned=lose some cash and understand how easy/fast it can dissappear. You will get motivated to learn what you did (stupid move) and learn from your mistake. You will make mistakes. Just make sure that you don't lose too much and never repeat it. Next time you jump in - you will be MUCH more prepared and informed than you thought you needed to be the first time. And so on..

These events will shape your attitude on investing for years to come.

The above cannot truly be learned any other way.
 

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it seems to me mentorship would be best, but given the small city i'm in, i don't think a mentor will be easy to find (i've actually placed an ad in kijiji in my city..we'll see how that goes) otherwise, is there any step by step canadian guide that would be a great place to point me in the right direction? thank you.
I've started getting into trading recently, just jumped in and started reading everything I could. Found a couple forums I liked, read every post. Just consumed every bit of info I could, and opened a demo account to paper trade with.
 

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Don't know if you are still reading this, but I would come from the perspective of whether you have done any other investments prior to this; why ? Because what you are about to do is critical for your, well, survival, and if you have not done anything earlier pertaining to the securities industry, it might not be a good idea to jump into the pan so quickly.

I really wouldn't advise any short-term trading activity for now, perhaps to work at the simulation terminal could be a good start if you are keen on trading.

Otherwise, start with safe counters, preferably dividend-payers to offer you income as you go along. Do your research, this form is quite good, read more materials, and sign-up for simulations, see how you fare.

Then buy one or two counters in limited quantities to get the 'feel'.

I did it the above ways in my portfolio, but not in the TSX though,...

Good luck !
 
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