All opinions are always 100% honest and my own. As an Amazon Associate I earn from qualifying purchases. I also participate in: CJ Affiliate; eBay Partner Network; Rakuten Affiliate Network; ShareASale; Walmart Affiliate Program; independent affiliate networks.

In the mid-1990s, I was a day trader. By that I mean I used an online brokerage account to buy rolling stocks, covered calls, naked puts, and a few other elementary techniques with my new-fangled internet brokerage account.

After a few months I had some fabulous successes and some dismal failures. I made some money overall, but certainly not enough to write home about.

Stock trading is tougher than it looks. It requires knowledge of markets, research into specific industries and companies, understanding stock price patterns, and general familiarity with trading practices.

While the day trading bubble burst over a decade ago, it can still be a lucrative business…if you actually know what you're doing. If you're considering getting into online trading, be sure you do your homework. Your pre-trading education should include:

• How markets work
• What trading techniques are available and the risk involved in each
• Company/industry research
• Which online broker firms are reputable
• Virtual trading practice

Don't just gamble your money away. Learn how to really use the markets as an investment.

Alison Moore Smith is a 61-year-old entrepreneur who graduated from BYU in 1987. She has been (very happily) married to Samuel M. Smith for 40 years. They are parents of six incredible children and grandparents to two astounding grandsons. She is the author of The 7 Success Habits of Homeschoolers.