I want to start playing the stock market but I have no idea how to get started. Im not trying to get rich of playing it at all, my plan is to make a little profit here and there. Can someone please give me some advice on how I should get started. Please share with me some tips. What websites or books should I check out to help me out ? Any advice is welcomed.
JAYSON
Comments
Go to the library and borrow the book “Investing for Dummies”
See you already saved money by going to the library.
Get a simple book on investing. Then look online at different stocks look at the terminology used in the finance statistics for each stock. When you find a word or term that your not familiar with look it up. When you start looking things up one word leads to another and you learn almost too much. I do have to say, if you have any money laying around not doing anything for you, go to your local stock broker, most banks employ brokers also. Ask him or her a few questions, what is a good buy how and what isn’t. If I were you, I would start by investing in mutual funds, which is a fund that compiles many company’s stock. Look that up as a start. If you have any other questions check out my profile and send me an email, I would be more than happy to help.
will be your best choice. Also you can find some useful links to practice without real money. Good luck!
Its a real gamble and only use money that you can afford to lose.
I started 2 weeks ago with $4000 and made $200 over the first week only to lose $150 of my gains.
I would follow experts like Cramer and get use to watching Bloomberg and CNBC.
Also keep away from stocks valued at below $5.00 they can be a real money pit.
Good Luck
Try the below url:
For New visitors, it has extensive information available like:
How do I get started?
How do I fund my account to buy stock?
and Investing section gives information like:
How does the stock market work?
What are the risks and advantages of investing in the stock market?
How do I choose what to buy?
What are some tips for beginning investors?
You have to open an account with an online stock broker to start investing in the stock market.
Sogotrade offers $3 per trade.
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The easiest way is to invest in mutual funds. Mutual funds are nice because you specify the amount in dollars rather than shares. If you are investing a lot of money in at a time, then ETFs might be nicer because you can diversify exactly the way you want to by sector. You can also get the exact price you want to pay by setting stop (minimum price) and limit (maximum price) orders.
Also, you need to look at what the fees are. Commission fees on trades include buy, sell, and actually trading. E*Trade requires $10,000 minimum balance, or they will charge you a $40 quarterly service fee. That is waived just by doing one trade per quarter. So all you have to do is do one buy order per quarter, and that is waived. There are also several no load, no transaction fee mutual funds, so you don’t have to worry about commissions on trade. All of the mutual funds I am showing you have no fee to them. The mutual fund manager themself gets paid a certain amount. They take this out on a yearly basis out of the money you put into the fund. It’s only about .5% to 1.5% depending on the fund. Check this out for expenses:
Right now it is very easy to make money in the stock market if you just leave it in there for at least 3-5 years. If you have $2500, you can buy every single stock in the United States. This will completely take the guess work out of the game. This link here is every stock sold in the US under this mutual fund.
If you don’t have $2500, there is a cheaper alternative:
Schwab funds have a very low initial deposits. Many of them are just $100.
If you are investing using retirement accounts, look for Target mutual funds that have a target date. Schwab has the Target 2030.
Right now you can basically pick one mutual fund that is diversified, keep investing at least until the end of 2009, and just shut your eyes and watch your money grow.
