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Most people would never try to compete in anything, without practicing and getting instruction from a coach or mentor. No one should ever invest without practicing. Especially before you put any money on the line against professional investors.

One of the best ways to start up your investing career is to practice first. If you are young and have the advantage of the time value of money, you certainly do not want to lose your first $10,000 learning. Make an adjustment to your personal spread sheet to illustrate the long term impact. How much is that $10,000 worth to you after 40 years? Get the point! Most people start investing without even practicing. So, how can you practice? Here is how we recommend getting started.

If you have an online portfolio tracking system you like...keep using it. To set up a new one we would use either AOL or Yahoo. If you use AOL, it has an easy system. Once online hit the AOL Personal Finance icon. Once there, hit the My Portfolio icon, then hit the Create icon and then follow their instructions. Be certain to bookmark this site into your Favorite Places for easy future access.

Yahoo operates a high quality approach. Go to Yahoo Finance. You will have to register as a new user, but it is free. This requires setting up an ID and password. Once into yahoo finance, find the Portfolio Area and then Create your own personal portfolio. Give the portfolio a name and enter your "practice" stock symbols. Then scroll down marking shares owned, purchase price per share and trade date. Be certain to bookmark this site into your Favorite Places.

Selecting Your Investing Mentor
Please practice using our suggestions and demonstrations. A good way to find a good investing mentor is to monitor their recommendations via a practice account. You should check back over time to see how their recommendations have been performing. If they have a successful track record then use them. Having one mentor on your Investing Team is great, having two is even better!

Click here to Go Practice for Free.