Investing in the NY stock exchange can be a great way to earn extra money and improve your standard of living- however, learning the ins and outs of this massive "trading post" can be tricky for the small trader.
The NYSE is located on Wall Street in Manhattan.
This thriving stock market is the biggest in the world, trading hundreds of billions of dollars of shares annually.
The New York Stock Exchange trades shares in companies that are registered with them - each is certified for public trading.
Many small traders shy away from wading into such deep waters, depriving themselves of the potential financial benefits of investing.
The smartest small traders learn how to use the system to their advantage, choosing stocks that will perform well and fit into a diversified investment portfolio.
One of the best ways to navigate the New York Stock Exchange is through the expert guidance of a regulated professional broker.
Also known as a stockbroker, this type of financial expert is a buyer and seller of stocks (shares) and other eligible market securities.
Many regulated professional brokers work for brokerage firms, where they make trades for the firm's clientele.
The best regulated stockbrokers provide assistance on how to invest capital for the most monetary gain.
Years of experience and education allow these brokers to understand the intricacies of the New York Stock Exchange.
They can put together a series of investment options tailored to a specific and probably end result.
When you pay for the services of a regulated stockbroker, you are buying insurance against many of the pitfalls of investment - they will anticipate problems that you might not think about, and seek out "hidden gems" that end up paying off in your portfolio.
However, you will be charged for every trade, and, when playing the stock market, things can always go either way.
You may still suffer financial reversals and setbacks, regardless of how good your stockbroker is.
If you're interested in doing small trading in the NYSE without the help of a regulated professional broker, you may want to consider using a regulated online trading program.
This service is designed to give you autonomy over your stock trading - you will be in charge.
Many banks offer their account holders access to online direct trading for a set fee - this can be useful, as all of your financial information will always be at your fingertips.
However, there will always be a higher risk element when you are holding the reins.
You can also look for software programs that offer online NYSE trading options for a good price - however, these should be regulated and aboveboard- beware of shady or disreputable companies.
Do your homework before deciding how to proceed with online trading.
Your comfort level, education, and stock market savvy will come into play if you choose to invest on your own.
In fact, even when you pay a broker, you will find that your own knowledge and expertise play a key role in making confident decisions about where to place your money.
Study the NYSE and its listed companies - visit company websites to find quarterly financial statements, profit projections, and other relevant information.
Read newspapers, magazines, and online blogs which analyze the stock market.
Stay abreast of politics and current affairs - regulations and trends may affect your investments.
Once you've done a little groundwork, you'll be ready to become a small trader on the NY stock exchange.