What To Consider When Looking For Market Advice When Trading

Riding the highs and lows of the stock market is a crazy thrill for many of us, especially over the last year – we’ve had a lot of time on our hands! Those who’ve just joined the journey may be seeking out advice, tips and tricks, which is an excellent idea!

That being said… how do you know that the “experts” you’re listening to actually know what they’re talking about? Do you really want to risk investing in stocks or selling off some of your valuable portfolio, just based on the hunch of a stranger?

Never fear, newbie investors: we’ve got some solid suggestions for you to consider every time you check out a new source or a random user on Reddit tells you to throw all of your money into some company you’ve never heard of(!)

Before You Take Any Advice, Stop And Think – Does It Have:

Validity

How sure are you that they are telling the truth – or that the source your advisor has gotten their information from is being honest and stands to actually benefit you, rather than being a hunch or a guess.

Reliability

Have you heard from this advisor before? Do they have a large following, and are their comment sections full of appreciative fans or angry haters who have lost money? How sure are you that you can trust this tip?

Accuracy

Do their predictions and promises regarding the stock market usually pay off? How close to being correct have they been in the past? Can you find any ways of verifying the credibility of their statement?

Where Can You Get The Best Advice?

Alright, now you know about those three pointers above – and have stored them in your mind, right? – let’s talk about some of the greatest market advice sources you could be missing out on.

Newsletters/Mailing Lists/Websites

Direct to your mailbox every day, week or month, many market advice platforms regularly send out newsletters to their mailing list or post blogs on their websites, allowing you to stay completely up to date with all things stocks and trading, 24/7, 7 days a week. 

Do bear in mind that not all of these services listed are free and you may need to pay a monthly or annual subscription fee in order to access all of their materials, advice and newsletters!

• Services like True Wealth, which is run by finance guru Dr Steve Sjuggerud, offer members consistent market advice via regularly provided analysis, research, and explanations, direct to your phone via an alert- not to be missed!
• The Motley Fool Stock Advisor is considered by many to be the best stock advice and investment newsletter, with recommendations that continue to boast high accuracy, reliability and validity – their stock picks from 2016-2020 have regularly beat the market!
• Those who are interested in tiny investments or penny stocks should look no further than Tim Sykes’ Penny Stock Alerts, a popular email that’s sent to your inbox every single morning at 8 am sharp – never miss another alert, with advice from a trader who has turned thousands into millions… with a lot of hard work and dedication, you too could find yourself succeeding in the stocks like him!

Apps

That special little device you hold so dearly, your smartphone, can bring a whole world of market advice, predictions and updates right to the palm of your hand. Quickly peruse a wealth of information on the go, wherever you are in the world, no matter what time of day it is! Here are some great examples:

• Round gives you access to active investment with some of Wall Street’s top fund managers and much, much more
• E*trade helps you access digital resources, offering timely market insights, webinars and Q&As on a regular basis
• Robinhood provides you the opportunity for commission free investing and all of those tools you need for moving money – including your first stocks for free!

Youtube

Though most of them are Average Joes like you or I, many of the vloggers on youtube who follow the stocks and offer trading advice could provide you with insights that completely change the way you look at investing, and all completely free! There’s no reason not to watch – you have everything to gain and little to lose – if you’re careful. Some of our favorite channels include:

• Almost at a million subscribers, Nate O’Brien has regular advice on not just marketing, but personal finance and general entrepreneurship, and since so many viewers have stuck around, it’s clear what he has to say is worth listening to
• Offering brand new episodes daily, from Monday to Friday, The Stocks Channel promises to educate you in technically analyzing the stock market to make you a better trader and investor all around
• With Financial Education, Jeremy offers even the biggest stock babies some clear and concise advice, and his 654k subscribers can attest that his recommendations are worth listening to

Podcasts

Much like Youtube, your favorite podcast platforms are full of stocks and shares wizards, ready to bring some golden advice directly to your eardrums: listen on the go, when you wake up in the morning, while you shower or brush your teeth…get market ready anytime, anywhere! We’d recommend checking out the following:

• On Motley Fool Money, each week your host Chris Hill and a gang of expert analysts cover the latest business news and headlines, as well as breaking down any current stock market implications for the investors listening
• Chat With Traders is essential listening for any stock investor – according to one reviewer, “Aaron’s ability to dig into the process of how his interviewees went from ‘Joe’ to ‘Pro’ is unlike anything else out there”!
• Last but not least, the Investing for Beginners Podcast promises to be your path to financial freedom as hosts Andrew Sather and Dave Ahern offer listeners premium investment guidance, decode industry jargon and help you overcome your emotions to really focus on those numbers