Copyright (c) 2010 John Howell
Weathering the unpredictable storm that is the stock market can be a challenge for any investor. But the good news is that you don't have to go it alone.
The Internet has opened up a world of resources to help new investors and seasoned pros reach out and find support from others, namely in the form of stock trading forums. But before you dive in, here's some advice for protecting yourself and getting the most out of an online stock trading forum.
Find the right one -- Whether you want to talk about securities or stock futures or even better trades to boost your portfolio, there are a variety of stock trading forums online to help. Start by searching for stock trading forums and look for one that hosts a variety of topics. You might find one that has a stock trading forum with subcategories that cater to different niches or a simple forum that lets you discuss new topics within one large message board.
With many to choose from, keep shopping around until you find one with like-minded posters that you feel comfortable taking tips from. Even if you don't want to make your own posts, stock trading forums can be good places to find out the latest trading news and pick up tips.
Protect what's yours -- Always be sure to protect yourself in a stock trading forum. You're there to get trading and investment advice and you always want to be sure to protect what you've already got. Even if you feel you really know someone on your stock trading forum, resist the urge to give out personal information.
It might also be advisable not to talk dollars and cents. By not revealing exactly how much capital you have or what you're willing to put towards a trade or what you've got in your portfolio, you help keep things on an even keel within the stock trading forum. These arenas are meant to foster camaraderie and support. Just like in real life, talking money can often strike divisions between people.
Watch your mouth -- The most important thing to remember when participating in any forum, especially a stock trading forum, is to watch what you say. Decorum and good manners are as necessary online as they would be in real life. Not only that, but bad behavior can get you banned from a site for good and turn would-be comrades into enemies. So don't say something you wouldn't say in person and don't go out of your way to be rude or make nasty comments towards other posters.
Many people often find it's easier to be unfriendly online or in stock trading forums that it would be in person. If someone attacks you or your ideas, ignore them and don't get involved. If you find a stock trading forum going off topic or sliding into bickering, find somewhere else to hang out. There are plenty of other stock trading forums out there.
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