🌱For beginners
Your first steps in investing — from the basics through choosing a style to your first trade. No jargon, step by step.
For beginners — overview
Starting to invest is simpler than it looks — and full of terms that can put people off. This section walks a complete beginner step by step: what a stock actually is (a share in a company), how an exchange works, how to open a brokerage account, how much money you need to start and how to make a first trade without avoidable mistakes. The goal is to strip out jargon and give solid foundations on which any strategy can be built. The most important early lessons are not technical but principled: diversification (do not bet everything on one card), time horizon (money you will soon need does not belong in stocks) and realistic expectations (markets swing in the short run, have historically risen long-term, but never with a guarantee). Understanding the difference between investing and speculation, price and value, and risk and volatility saves a beginner many expensive errors. The section then moves to choosing an investing style, reading basic metrics and connecting to QMA tools that simplify analysis. Everything is written plainly, with examples and analogies. QMA is an analytical and educational tool — it does not issue "buy this stock" instructions, but teaches you to understand what you see so you can decide for yourself.
For beginners articles
Step 3: Choose a Strategy Based on Your Style — and Understand WHY They Work
A strategy is not a magical formula, but a repeatable method for selecting stocks with a described, measurable logic. Seven families of strategies, their logic, and how to distinguish a verified method from marketing (t-stat, n, out-of-sample).
Step 2: Find Your Style — Short-term, Swing, or Long-term Investor?
Style determines everything — strategy, stock selection, chart timeframe, and even taxes. We'll go through 4 styles based on time, nature, and capital, and why beginners usually find swing or long-term investing suitable.
Are Stock Screeners Worth It? An Honest Look at What They Can and Can't Do
Are stock screeners worth it? Yes — not as a winner machine, but as a filter that turns thousands of stocks into a short list. An honest look at their limits and why data matters.
Step 4: What Phase is the Market In? Bullish, Sideways, Bearish — and How It Changes EVERYTHING
The market phase matters more than stock selection. You'll learn about the 4 phases (SMA, breadth, VIX), Weinstein's stage analysis, Wyckoff's accumulation, the presidential cycle, and seasonality — and how to interpret it on QMA.
How to Open a Brokerage Account and Send Your First Money: A Guide for Czech Beginners
This practical guide explains what a broker is, how to compare fees and regulation, how identity verification works, and what to consider when making the first CZK deposit. It also includes a security checklist and an explanation of fractional shares.
Step 5: Fear and Greed Index — How to Read the Crowd's Mistakes
At extremes, the crowd is almost always on the wrong side. Fear and Greed Index, VIX, capitulation and euphoria — and why contrarian thinking needs context, not blind courage.
QMA Beginner's Guide 2026: The Entire Platform Step by Step
The entire platform map — every QMA feature, what it's for, how it helps you find and verify an idea, and how you can earn honestly with it. From the Dashboard to the journal.
How to Choose the Right Stock Broker (2026 Comparison)
There is no single "best" broker — it depends on you. We compare XTB, IBKR, Fio, Degiro, Trade Republic and more + 6 selection criteria and pitfalls (FX, taxes, fractional shares).
Step 6: How to Choose the Right Stocks — 5 Pillars and Secrets of Smart Money
The flagship episode of the series. Five independent pillars, confluence, and how institutions really trade — insider buying, 13F, dark pool, options flows, and Wyckoff accumulation. Step by step on QMA.
ROE vs ROIC: Which Metric is More Important for Evaluating Business Quality?
ROE and ROIC are two key metrics often used to assess company performance. In this article, we will focus on their differences and importance across various sectors.
Piotroski F-Score: The 9-Point Quality Score of a Company
The Piotroski F-Score is an important tool for investors that assesses a company's financial health using nine indicators. In this article, we will explore each of these indicators in detail.
How to Tell if a Stock Is Overvalued or Undervalued (Without a Finance Degree)
Price and value are not the same thing. This plain-language guide explains valuation for beginners without jargon: the key ratios (P/E, P/S, PEG, P/B) in simple terms, the golden rule of always comparing to a company history and its sector, why a high multiple can be justified and a low one a trap — plus a simple "is it expensive?" checklist.
How to Read a Stock Before You Buy: An 8-Point Checklist for Beginners
Most beginners click Buy on emotion. This no-jargon 8-point checklist lets you read any stock in five minutes — business, valuation, trend, smart money, catalyst, exit and position size — so your decision is informed, not emotional.
Step 1: How to Start Trading Stocks — The Mindset That Separates Winners
Before you buy your first stock, you need to change your mindset. Why most retail traders lose in the long run, what edge and expectancy are, and how to think in probabilities instead of bets.
How to Analyze Stocks When You Have No Time: a 5-Minute Method
A job, a family, no free weekends for research. This five-minute routine shows you how to run through a stock in a few quick glances — quality, valuation, trend, smart money and a pre-set exit — so your decision is informed, not perfect. Process beats time spent digging.
When Should You Sell a Stock? The Exit Rules Nobody Teaches Beginners
Everyone teaches buying; almost no one teaches selling — yet the exit decides your result. This plain-language guide explains when selling makes sense: decide before you buy, sell when the thesis breaks (not just when the price moves), dodge the two emotional traps, and run a simple pre-sell checklist.
Two Cafés, Two Numbers: What ROE Conceals and ROIC Reveals About a Company's Debt
A company with a 30% ROE looks like a money-making machine. However, ROE can be deceptive — and ROIC will show whether it's due to quality or just a pile of loans. The difference between them determines who you might be misled by.
How to Start Investing in Stocks (even with little money)
7 steps from scratch: emergency fund, broker, fractional shares, regular buying, and quality over speculation. Even with a small amount.
How Much Can You Make in Stocks? (honest numbers)
The stock market has historically returned ~7–10% a year on average — but with big swings and no guarantee. What that means for your money and why "average" misleads.
How to Pick Stocks: reading a screener and scores (no balance sheets)
4 ways to pick stocks (fundamentals, technicals, smart money, catalysts) and how to fuse them into one score so you don’t pick on headlines.
Dividend Explained Using a Pizza Party with Friends
A friend tells you that a company sent him money just for holding its shares. Is there a catch? No, this is a dividend — and here's the whole explanation in simple terms.
What Is the P/E Ratio — and How to Read It in 30 Seconds
The P/E ratio is the most quoted number in investing — and the most misunderstood. This plain-language guide explains what P/E actually measures, why a low P/E can be a bargain or a trap, why you must always compare it to a company history and its sector, plus a 30-second routine for reading it.
How Much Money Do I Need to Start Investing?
Starting to invest can seem like a leap into uncharted waters, but the reality is that you can begin with small amounts. How do you do it?
How to Place Your First Buy Order: Market Orders, Limit Orders, and Bid/Ask Spread Without Panic
You know which stock you want – but what now? A step-by-step guide taking you from ticker selection to trade confirmation, explaining the difference between market and limit orders along the way.
You Have 100,000 (or a Million) to Invest — Here’s How to Decide, Not Where to "Put It"
You have a lump sum and the internet is full of "buy this" answers. The honest truth: nobody online can tell you where to put your money — but a good framework helps you decide well. Here is the psychology, the foundation, and the practical decisions, minus the hot tips.
Investing or Saving? Which is better (and when)
Saving protects cash but inflation erodes it. Investing has more upside and risk. When to use which, how to combine, and why both have their place.
Step 7: Risk Management and Complete Decision Tree (+ QMA AI Advisor)
Finale of the series. Why risk management is more important than stock selection, position size, stop alert, and R:R asymmetry — and a 10-step decision tree that ties the entire series into one habit.
Compound Interest: Why Einstein Called It the Eighth Wonder of the World
Small numbers that multiply by themselves can be surprising. We'll explain using coffee, a snowball, and simple calculations why time works in your favor.
What a Stock Is and How an Investor Can Make Money From It
A stock is a small ownership stake in a company, not just a “line on a chart.” In week one of the beginner journey, we explain what an investor owns, why stock prices move, and how returns can come from price growth or dividends.
How to read a balance sheet — step-by-step
The balance sheet is a snapshot of the company at one moment — what it owns, what it owes, and how much equity it has. Learn to read it in 10 minutes.
How to Identify Market Phases on QMA and Trade Safely in Each
Bullish, sideways, bearish, volatile — how to identify the phase directly on QMA (Regime badge, Fear & Greed, sector strength) and how each phase changes the picture. What no one tells beginners.
Stocks vs ETFs for Complete Beginners: A Whole Pizza or in Slices?
You have your first hundreds or thousands and you're unsure whether to buy a single stock or something that includes hundreds of companies at once? We'll break it down from scratch, with numbers and without jargon.
How to "read" a company in 10 minutes: fundamentals for absolute beginners
Revenue, profit, margin, debt, free cash flow and P/E — five numbers that quickly tell you whether a company is financially healthy, explained with examples and where to find them in QMA.
EV/EBITDA vs. P/E: Why P/E Alone Misleads You About a Company by Half
P/E ignores debt and depreciation — and that's exactly where the trap lies. Using specific numbers, we demonstrate when two companies with the same P/E are actually completely different.
Why Free Cash Flow is More Important than Net Income?
Free cash flow provides a more comprehensive view of a company's financial health than net income. This article will focus on the differences between FCF and net income and explain why significant investors like Warren Buffett prioritize FCF.
Revenue grows by 40%, profit only by 2.5% – what do margins say about this
The company doubled its revenue, but profit is stagnant — and investors are cheering. Why? The answer lies in the margins and especially in their trend, which reveals more than just one nice number.
The Best, Highest-Return Investment? An honest look at return vs. risk
The "best investment" is the wrong question. Higher return = higher risk (no free lunch). The risk spectrum, the "investment of a lifetime" myth, and an honest framework.
Real Estate or Stocks? Where to invest
No universal winner. Compared by liquidity, leverage, entry cost, effort, diversification, taxes and risk — and why many combine both.
First Investment: Where to Really Start, Step by Step (and Without Panic)
You have a few thousand in your account, you're looking at an app with thousands of stocks, and you don't know what to press first. Here is a specific order of steps that makes sense, even with math in hand.
How the Stock Market Works (simply, for total beginners)
The stock market is a marketplace matching supply and demand for shares. How prices form, what an index is, who’s involved, and why prices move — jargon-free.
How Much Money Do You Actually Need to Start Investing?
The biggest beginner myth: "I do not have enough money." The truth is you can start today with a few units of currency thanks to zero-minimum brokers and fractional shares. This plain-language guide explains how much you really need, what foundation to build first, and why small regular contributions beat waiting for the perfect moment.
Price Levels: support, resistance and where the price is now
For every stock QMA computes supports, resistances, a pivot and range-position. We explain in plain terms what these zones of interest are and how to read them on the stock detail page.
Week 8: How to Read a Price Chart Without Being a Technical Analyst
Learn the basics of reading a price chart – candles, timeframes, trend, moving averages and volume – as context for decisions, not a crystal ball.
Why Most Stock Tools Fail Beginners — and What to Actually Look For
Most stock tools give beginners either too much data or too little context. This overview explains where four common categories leave a beginner stuck — and what you actually need: signals combined into context, plain explanations, a risk and exit frame, and one clear score.
How to Open Your First Brokerage Account in the Czech Republic? Comparison of Trading 212, Interactive Brokers, XTB, and Patria
Opening your first brokerage account can be a daunting task for beginner investors. This article compares four popular platforms: Trading 212, Interactive Brokers, XTB, and Patria, focusing on their advantages, fees, and tax aspects.
What Is a Stock and How Do You Make Money on It?
A stock = a share of a company. You earn two ways: price appreciation and dividends. How it works, the risks, and how to spot a quality stock.
How to Build Your First Portfolio with Three Stocks?
In this article, we will explore practical steps to build your first stock portfolio with three stocks and compare conservative and growth investments.
DCF Made Simple: How to Calculate a Company's Value from Money It Hasn't Earned Yet
Most investors buy stocks based on past earnings, but a company's true value lies in its future. Learn to understand the discounted cash flow (DCF) method without complex math and discover why a hundred earned in ten years is worth only a few cents to you today.
P/S and P/B: Two Overlooked Multiples That Reveal What P/E Hides
A company with a negative or insanely high P/E looks like a trap. However, P/E is just one of three keys — and for unprofitable, fast-growing, or banking companies, it's the completely wrong one.
Volatility and Risk: Two Terms Investors Most Often Confuse
When your portfolio drops by 20% over the weekend, is it risk or just volatility? The difference between these two terms determines whether you sell in panic at the bottom — or calmly wait it out.
P/E Ratio — What It Really Means and When It's Confusing
The P/E ratio is a key indicator for investors, but its interpretation can be confusing, especially across different sectors. This article clarifies how to read the P/E accurately and explains concepts like forward P/E and the PEG ratio.
What is a stock? An explanation for complete beginners
A stock is a share of ownership in a company. When you buy one Apple share, you own a (tiny) piece of Apple. This article explains what stocks are, how they make money, and how to get started.
The hidden cost of selling a stock: why spreads hurt more at small firms
Likvidita rozhoduje o tom, jak snadno se akcie mění zpět na peníze — a spread je poplatek, který za tuhle snadnost neviditelně platíš. Vysvětlujeme na příkladu, proč u malých firem bolí víc než u velkých.
Tržní vs limitní příkaz: kdy chceš rychlost a kdy chceš kontrolu ceny
Dvě tlačítka, dva úplně jiné světy. Tržní příkaz tě dostane do obchodu okamžitě, limitní ti dá kontrolu nad cenou. Ukážeme si na číslech, kdy který dává smysl.
První portfolio krok za krokem: od nuly k prvním pozicím
Rezerva, horizont, diverzifikace, malé částky a trpělivost. Konkrétní postup, jak sestavit své úplně první portfolio, aniž bys skočil po hlavě do něčeho, čemu nerozumíš.
Burza jako bazar: proč cena akcie vzniká stejně jako u staré konzole na internetu
Burza není kasino ani tajný klub pro milionáře. Je to obří tržiště, kde se každou vteřinu potkávají prodávající a kupující — a překvapivě funguje na stejném principu jako bazar na internetu.
Proč diverzifikace chrání portfolio — na jednoduchém příkladu
Jedna špatná sázka na jednu firmu dokáže smazat roky úspor. Ukážeme si na konkrétních číslech, proč rozložení peněz do více míst není zbabělost, ale matematika.
Broker pro začátečníky: 7 věcí, co si prověřit dřív, než pošleš první stokorunu
Broker je turniket mezi tvou peněženkou a burzou — a ne každý turniket je stejně férový. Projdeme si, na co koukat, aby ti poplatky a skryté detaily nesnědly výnos dřív, než začneš.
Čtyři náklady obchodování, které nenajdete v žádném ceníku
Nejdražší náklad při obchodování často nenajdete v žádném ceníku. Skrývá se v mezeře mezi nákupní a prodejní cenou a platíte ho v momentě, kdy zmáčknete tlačítko.
Kvalita zisku (accruals): kdy je zisk jen na papíře
Firma hlásí rekordní čistý zisk, akcie letí nahoru — a přitom na bankovním účtu peníze nepřibývají. Ukazujeme, jak rozdíl mezi účetním ziskem a provozní hotovostí (accruals) prozradí, že je zisk spíš účetní kosmetika než reálná výkonnost.
Dluh firmy: net debt/EBITDA a úrokové krytí — jak poznat rizikovou rozvahu
Dvě čísla vám za 30 sekund řeknou, jestli firma nese dluh jako batoh na výlet, nebo jako cihlu na zádech uprostřed maratonu. Ukazujeme, jak počítat net debt/EBITDA a úrokové krytí a kde začínají red flags.
Proč rekordní zisk firmě nezachrání dividendu
Účetní zisk se dá naparádit, hotovost mnohem hůř. FCF yield ukazuje, kolik reálných peněz firma za rok generuje vůči tomu, kolik za ni platíte.
Option Vertical Spreads: A Painful Mistake When You Don't Know the Potential Loss
A vertical spread is an options strategy where one option adds risk and the other limits it. We will demonstrate both debit and credit examples, maximum profit, maximum loss, break-even, and most importantly, the painful mistake: not knowing in advance how much you can lose.
Greek letters in options: what delta, gamma, theta and vega really mean
Řecká písmena nejsou magie pro profesory matematiky, ale ukazatele na palubní desce opce. Kdo je nečte, létá naslepo — a u koupených opcí to obvykle znamená pomalé vykrvácení na nule.
Burza je džungle: 3 chyby, kterým se začátečníci vyhnou, aby nepřišli o peníze
Cítíte se ztracení v záplavě informací a lákavých nabídek? Není divu. Burza může být pro začátečníky džungle plná nástrah. Pojďme se podívat na nejčastější chyby a ukázat si, jak se jim elegantně vyhnout, abyste se cítili jistěji a vaše peněženka byla spokojenější.
Opce mechanicky: Cash-secured put není sleva na akcie. Je to závazek s účtenkou
Cash-secured put vypadá klidně: dostaneš prémii a čekáš. Mechanicky je to ale závazek koupit 100 akcií za předem danou cenu, i když trh spadne níž. Tady je číselný příklad, rizika a praktický rámec.
Options: How to Determine if Stock Insurance is Expensive or Cheap
Imagine you're deciding whether to buy car insurance. The price changes every day, but why? The same goes for option prices. The key is implied volatility (IV), which tells us how the market expects the price of the underlying asset to move. IV Rank and IV Percentile then help us understand if this expected 'wildness' is currently above average or below average.
Covered Call: Jak získat prémii z akcií, které stagnují?
Představte si, že držíte akcie, které už nějakou dobu stagnují. Chtěli byste z nich dostat něco navíc, ale zároveň nechcete riskovat velký propad. Řešením by mohl být tzv. covered call, strategie, která nabízí prémii výměnou za omezení budoucího zisku a nechrání před poklesem.
Options: How to Turn Your Market Outlook into Profit Without Risking Everything?
You have a clear market outlook, but don't know how to translate it into options strategies? Let's explore the mechanics of options – what each structure does, how it behaves in different scenarios, and where its profit potential and unlimited risk lie. No tips, just pure mechanics and hard data.
Frequently asked questions
How much money do I need to start investing?
Most modern brokers let you start with small amounts, sometimes fractional shares for a few dollars. Regularity and horizon matter more than the starting amount. Invest only money you will not need soon.
What is the difference between investing and speculation?
Investing leans on a company's value and a longer horizon; speculation bets on short-term price moves. Both have rules, but speculation carries higher risk. QMA provides analytical tools for both, without trade instructions.
What is diversification and why does it matter?
Diversification means spreading money across several stocks, sectors or asset classes so a drop in one position does not threaten the whole portfolio. It is one of the most basic risk-management tools.
QMA provides analytical and educational tools, not investment advice. Past performance does not guarantee future results.