Have just started looking into wealth creation after having recently got myself out of homelessness after a year and a half. I am looking to throw a bit of money towards share trading and I have just signed up for the ASX Sharemarket game and plan to use that until the end of the year to learn as much as I can about share trading while I save up some more money to invest for real in the market.
I currently have 2k and want to save another 2. When the time comes I will be more than happy to take big risks and try for quick profits with 2 and be willing to lose it if it happens, and be conservative with the other 2k and I'm wondering what is the best way to take big risks and make profits so I have a couple of questions.
1. Should I be watching the stock market constantly throughout the day? If so how do I do that, is it just through the ASX site or do I need to download a special program?
2. What are generally the best type of companies to watch where their prices go up and down a fair bit throughout the day?
3. What is the best way to find out company announcements before the news gets hold and everyone starts selling off or buying?
4. Any other tips for taking risks and making quick profits?
Thanks in advance for the help guys.