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how do I get started in the stock market?
Please be specific, I know I need to find a broker but where? I know there are online brokers out thee as well, what sites do I use to do the trading? I know Etrade is one, I need as much info as I can possibly can
6 Answers
- kswck2Lv 74 years ago
Before even starting, take a look at a website called Investopedia.com
The site will be able to explain stock market lingo. What a stock is, what a bond is, what a dividend is, what ex-dividend dates are, etc.
The open a brokerage account. You may want to see if there is local office near you.
- A nobodyLv 74 years ago
Before you spend $0.01 on any investment, you must know what you’re doing, why you’re doing it and how to do it and make sure you have the money to do it. Also, you must have an understanding of the rules & regulations that govern what you’re trying to do. Before you invest in any security, the first investment you should make is in yourself, and the best investment you can make is by educating yourself.
Begin your education by learning why you should invest and the importance of being able to make your own decisions or how the pro’s make theirs. Start your education by reading “Investing for Dummies” by Eric Tyson.
To continue your education, select some of the following
Beating the Street by Peter Lynch
Bulls Make Money, Bears Make Money, Pigs Get Slaughtered, by Gallea
From Riches to Rags, by I.C. Freeley
How to Make Money in Stocks” by William O’Neil
24 Essential Lessons for Investment Success by William O’Neil
The Intelligent Investor, by Benjamin Graham
Common Stocks, Uncommon Profits, by Philip A. Fisher
One Up on Wall Street by Peter Lynch
Stocks for the Long Run, by Jeremy Siegel
Uncover the Secret Hiding Places of Stock Market Profits by Joel Greenblatt.
What Works on Wall Street by James O'Shaunessey
You Can Be a Stock Market Genius by Joel Greenblatt
Your Money and Your Brain by Jason Zweig
Websites that can provide instructions and help with procedures and terminology are Investopedia - http://www.investopedia.com/ http://www.investorshub.com/ and 1 Source for Stocks - http://www.1source4stocks.com/info/stock-analyst-o... or Smart Money
Visit some of the more professional websites like Zacks Research - http://www.zacks.com/ Schaeffer’s http://www.schaeffersresearch.com/ Investors Business Daily - http://www.investors.com/default.htm?fromad=1
Some of these web sites will have advertisers who are worth looking into also. And remember, if they offer free information, get it.
And when you think you want to invest/trade, try some paper trading to test your skills without spending you money http://simulatorinvestopedia.com/ http://www.moneyworks4me.com/
and/or http://www.tradingsimulation.com/
After you feel comfortable with what you're trying to do, visit the Web sites of some of the more popular brokerage firms. So if you feel comfortable with what you see on line and look at the cost and/or charges. When you are ready to go, just open an account with the firm using their on-line services. Please remember, the cheapest is not always the best. Even though you’re opening an account on line. you can always call the firm's "customer service" area for help
You at least have made the right decision to start investing, this is the first big step and it won’t be your last. Keep taking those steps forward and along the way never take the advice from people that are not in the market or try to tell you not to invest.
Good luck on your journey, study hard and you’ll invest well.
Source(s): From The Street - RinkydinkLv 74 years ago
Open an account with the broker of your choice. Call them to find out their minimum cash required. If you deal with a broker the commissions for each transaction will be many times the $6.95 Scottrade charges. Research prospective purchases and when ready place your orders online. GOOGLE "online stock brokers" and phone some and get your questions answered.
- Donut TimLv 74 years ago
To start buying or selling stocks, you should open an account with a brokerage house such as Scottrade or TD Ameritrade.
►If you live in the U.S., the SEC requires you to fill out some forms.
You must put money into your account before you can begin to order trades. They will give you a password to access their trading site online. You select the stock you wish to own and place your order with the brokerage either by phone or online electronically. During the business day, the brokerage makes the trade for you, usually within seconds. They charge you a fee for each trade, typically 6 to 10 dollars to buy or sell a “lot” of 100 shares.
The shares that you buy are kept on file at the brokerage. Many companies no longer issue certificates for shares but keep track electronically.
When and if your company issues a dividend, the money goes directly to your account.
You can get more information at their websites.
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- Anonymous4 years ago
You cannot figure out to open your favorite web browser, type "discount online broker" and hit the Enter button?
Oy vey.
If you can't do a little comparison shopping to figure out which brokerage meets your needs, I shudder to think how you will choose your actual investments.
- BoxLv 64 years ago
Be nice to know what your goals are, how much you wish to invest, risk level, trading style and time frame. Without more info, can't really say. Etrade has excellent customer service, a great mobile app and is said to be lowering their commissions