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Investing help?
I'm looking to make my first stock market investment within the next couple months. I was wondering how I should go about this. I've done research and I really just need to know if I NEED a broker to handle my account or if those internet sites are even half trustworthy. Would it just be safer to use a broker?
10 Answers
- Ron BerueLv 61 decade agoFavorite Answer
In the beginning “newbie” traders and investors DO NOT INVEST THE FIRST cent or dollar. No amount of money.
In the beginning you LEARN HOW:
A] the stock market works.
B] to invest in many, many various ways.
C] to properly trade
D] many other concepts and aspects.
Beginning or novice ['newbies"] investors and traders ALWAYS make mistakes. In fact, throughout a person's avocation or hobby to do trading, he/she will make mistakes.
In the very beginning, you READ AND LEARN about the market and how it works:
Read "Investing for Dummies"
As you are reading and doing research about the investments you are interested in, sometimes you'll come across a financial or investment term you never heard before.
You can usually find excellent, easy-to-understand definitions of many financial and investment terms by going to Investopedia’s dictionary.
http://investopedia.com/ is a free site. It’s recognized by Y! A as a "Featured Knowledge Partner".
It probably won’t be long when you’ll feel you’re ready to invest your hard-earned money. Before taking that step, you really should do research about what you are investing in. It also has a free, paper trading platform. You can set up a virtual account and almost trade as though you were trading with real money.
http://finance.yahoo.com/ is also recognized by Y! A as a "Featured Knowledge Partner"
END E-MAIL #1
The thought processes are:
1] to have more successful trades than failing trades.
2] to minimize the losses of those losing trades.
3] "To live to trade another day." Having enough money in the trading account to return to the market.
ALL this is accomplished by a few true expressions used on Wall Street:
Some trading expressions come to mind:
A] "On Wall Street there aren't any gifts."
No one gives anyone else anything - not even stock tips.
B] BUlls [BUyers] earn money.
BEars [SEllers] earn money.
Pigs get fat.
Hogs [Greedy Traders] get slaughtered. They lose the money in their trading accounts.
C] "Trees don't grow to Heaven. Neither do stocks or any other investments."
In other words: What goes up, MUST come down!
D] "Plan your trade. THEN trade your plan!"
Have a trading plan with rules for that plan for each strategy.
I want everyone to know I DO NOT own any portion of this man’s estate, nor am I associated with him or any one else connected with him in any way. I am not part of the publishing company or an agent or anything else. This man does not know me from Adam AND I don’t know him. I know of him and the wonderful book he wrote. THIS IS NOT SPAM.
You should buy a copy of this book:
“The Richest Man in Babylon” by George S. Classon. You can get the book on http://amazon.com/
Its very easy to read. Its very easy to follow. You can write in it. You can make notes in it. All you have to do is to read five [5] pages - Let’s count
1 - 2 - 3 - 4 - 5 pages of this book - or any book - each and every day.
OR You can leave it sit on the shelf, on a table or on the floor and let it collect dust.
Thanks for asking your Q! I enjoyed answering it!
VTY,
Ron Berue
Yes, that is my real last name!
Source(s): My wonderful family! My wonderful coaches and mentors! TWO [2] of THE ABSOLUTE BEST, MOST wonderful trading groups in the world, which I am most proud to be a member of! Trading stocks and options more than 2 years. "THE University of Hard Knocks" - 1 decade ago
Apart from the theoretical knowledge that an investor gains before investing in stocks, the practical changes and lessons get well off while going through the actual process. Each investor always seeks for making profits but 90% of people end up losing to the stock market, however, very few of all the investors realize the "the risk break" technique. There are various investment strategies that contribute highly to the making of loaded returns.
First strategy points towards well-constructed portfolio that takes into account its integrated investments and diversification.
Another principle strategy includes the investment accompanied by the margin of safety.
This tutorial will help you how to start investing in the stock market:
http://ezinearticles.com/?How-To-Invest-In-The-Sto...
Yes, it's completely safe to use a broker. You can check out Sogotrade, the cheapest broker in world.
They offer cheap stock trading at $1.50 - $3.00.
Some of the features this brokerage offers:
1. $1.50 - $3.00 Online Equity Trades
2. Fast Order Execution
3. Excellent Customer Service
4. Scheduled Investments and Fractional Shares
5. 3 Great Trading Platforms: SogoTrade, SogoElite, Laser
6. Enhanced Online Security and SIPC Protection
7. Powerful Trading Technology
8. No Account Inactivity or Account Maintenance Fees
9. Free Dividend Reinvestments Service
10. Complementary Stock News and Stock Charts
- 1 decade ago
I suggest you read through Investopedia's online overview of Brokers and Online investing to get you started. This may end up being review for you since you have been doing some research already. Check out the other online investing tutorials as you may find them informative as well. Enjoy and best wishes on your investing journey!
- 1 decade ago
Begin with a stock mutual fund, by owning it you will get quarterly statements, and annual reports of the holdings. When you are ready to buy some individual issues, either use new money, or take a portion of the mutual fund money to use.
I highly disagree with waiting to invest, especially when the market is down 20%. By owning a mutual fund, at least you will have some participation.
Look for blue chip funds, dividend value, or large cap value, these are great to start out and are usually moderate risk.
Get started and good luck!
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- Anonymous1 decade ago
You will definitely need a broker, unless you have the license yourself, to buy stocks from a market (like NASDAQ/NYSE). This is the safest options. There are a lot of discount brokers online (E-trade, Scotttrade, T D Ameritrade, TradeKing). Just open an account with one of them and you will be on your way to riches!......
- 1 decade ago
Rarely Brookers are knowledgeble. 99% of the brokers has only very superficial knowldge. Half Knowledged persons they have with them to get advise. Better spend time to find out some good analyst in the web sites. watch them for an year and then follow them
- nervousLv 51 decade ago
Look with the internet there are very few laws governing it. I wouldn't do it. The stock markets are not really reliable go with a cd until the administration changes.
- 1 decade ago
of course you need a broker, in case you're not a prof!I advise you to ask your friends for the best broker they know!