Everyone has had an experience with bad investment advice. Usually a friend or colleague has told us about a wonderful new product service that has great earnings growth potential. Unfortunately this isn't always true and is often nothing but stock hype.

In order to be lucky enough to uncover the next superstock or new product service that will bring you untold riches, you must be prepared to do the proper research. You must also possess impeccable timing and a mind that can read dynamic stock situations.

The best suggestion I can make is to talk to a person who has been successful in buying and selling on the stock market by himself. What I don't mean is someone, who's doing this as his profession. I'm talking about a complete stranger to the stock business, who risked some money and won a lot in doing so. Try asking this person on what basis they decided which stock to buy and what prevented them from buying another.

When it comes to first time investing, practice makes perfect! Give yourself a realistic budget to practice with, $10000 will do. You could use a spreadsheet to record the stocks that you buy and sell, not forgetting the real life transaction fees that will apply. After 2 months trading you should be able to judge if you would have made (or lost) any money in your imaginary dealings.

The research should show you the way. Select at company that is intending to market a new product service and purchase the relevant merchandise. Your income will be generated by a successful launch of the new product service. If it fails, then you will have to review your research. Was there an extensive market or audience for the service? Was the product launched in a professional manner? Did the company promote its service well?

Sometimes your intuition can be a powerful tool in picking winners. Be careful here. Successful intuition is a culmination of your research and experience. You'll be guided by the groundwork that you lay. Professional athletes workout, research and practice so that they can be "lucky" on the playing field. The same principals apply here. You too, can strike it big!