online trading : 3 Wealth Building Exercises for People With No Financial Knowledge

Oct. 15, 2009 - PRLog -- Learning what the rich know, thinking like the rich and most importantly doing what the rich do are very important if you want to be rich yourself. To become rich you must first transform the way you feel about money because your feelings lead to your actions, which will lead to results. Below are three quick, but effective exercises – specifically designed for people with no financial knowledge – to help lead you on the road to financial success.

Quick Exercise 1: Learn about the stock market.

There are many ways to do this, from buying books and taking courses to practicing on a simulated account. You need to learn the different strategies for investing in the short and the long term, what is the best time to buy stocks, and how long you should hold on to them before selling. Trade2Race is an innovative game available at www.trade2race.com, where you learn to time the market by betting on short-term movements in stocks.

Not many people who set out to get rich quick trading stocks actually become rich. This is because trying to get rich quick causes traders to take on way too much risk. Managing risk involves focusing more on the possible downside of a trade or investment than on the potential benefits. With Trade2Race your risk exposure is small: the stock games take $1, $2 and at most $10 to participate in, and you quickly learn in a fun and entertaining way how to manage these small blocks of capital.

Most experts agree that investing 10 to 15 percent of your gross monthly income creates a very comfortable nest egg for later years. Once you learn about the stock market and you understand how to manage risk, you should be ready to use stocks as a vehicle for wealth creation. Trade2Race can provide you with capital for trading: once you master the game you can win actual funds, which you can withdraw and use to buy stocks.

Quick Exercise 2: Learn to trade commodities.

Coffee, corn, wheat, soybeans and almost all other agricultural products can all be classified as commodities, as can crude oil, natural gas and heating oil, copper, lead and other industrial metals, gold, silver and livestock. Many commodities are trading near record prices, partly due to demand from emerging markets like China and India. Trade2Race also gives you the chance to learn about the commodities market.

Just a few years ago, you would have needed a huge portfolio to trade commodities. With the creation of exchange traded funds (EFT’s), that’s all changed, and now the layman can trade just as easily as the seasoned professional. Plus, the layman has the advantage of Trade2Race to prepare him for trading. Trade2Race forces you to research the different market types if you want to be successful, and that is part of its massive appeal as a training tool.

Quick Exercise 3: Learn about the Forex Market

The money elite consists of the rich and powerful international bankers who control all the banks, companies, corporations and foundations of the world, and the Forex market is their best-kept secret. Because of the high degree of leverage available in the Forex market, an investor can use just $1 to control $200 in capital. The benefits are huge, but so are the risks.

Believe it or not, Trade2Race can also prepare you for Forex trading. This amazing game lets you practice your investment strategies in three major markets, so you can learn how they are affected by major world events such as politics, economic growth, trade and capital flows. If you’re to succeed in any of the three markets, research is unavoidable. In the same way, if you’re to succeed at Trade2Race, you must learn to hone your financial knowledge by reading or listening to the financial news.

http://www.trade2race.com/

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Trade2race brings the art and technology of the stock trade/game industry to a new level of adventure and profit. Designed for the novice who has no previous financial trading experience,
http://www.trade2race.com/