i WANT TO START buying STOCKS .. but how can i go about it!!!?

Question

I am 18 years old and ready to start making money. Im going to college and i know that i can gain money to pay for it in the stock market. But who do i call?? I know i need a stock broker but i dont want to pay alot of fees. Should i do it on the internet??? What is the safest route to go??

Answer 1

I was in the same boat as you two months ago. I did not know where to start so I called some people (stockbrokers) for advice. A few of the told me that I should wright them a check and let them do the investing. Then I got an honest one on the phone that told me the real deal. He said that it would really be more beneficial for me do do the investing myself on the Internet. He told me "off the record" that Sharebuilder.com was a very user friendly website that was great for beginners. I am starting college on Aug. 28, and no matter where I am at I can log onto Sharebuilder.com, and invest my money or pull it out for $4.00 dollars a trade. It is really easy. If you would like to call a broker, and ask them some good stocks to invest in some will tell you some won't. You can watch Fox News on Saturday mornings, and the have people talking about hot stocks. I am sure they do on other channels as well, but I watch Fox. My investments have made $32.00 in the last two months, not much, but as that money gets re-invested I will make more each month. Hope I was helpful. Good Luck.

Answer 2

I second the other person's direction to Motley Fool.

I started investing as an intern while I was in college ... I put several grand into the company I was interning with (Corning Incorporated). I then got to watch my investment drop approximately 92% in the ensuing 18 months months after that. Fortunately, there was a recovery (and I continued to buy) and I ended up turning a profit, but had it not recovered I probably would have written off the stock market and investing right then and there.

Since then, I wisened up and bought the Motley Fool's Investment Guide. A good overview, that will give you enough knowledge to start buying index funds and large corporation stocks. I have since then read Benjamin Graham's "The Intelligent Investor," most of the books by Ben Stein, a few books on market timing, and also that "Little Book" garbage that you'll see on the investment shelves (it's a load of crap). Actually, come to think of it, Ben Stein could be a good starting point - his works are extremely readable thanks to his humor.

Answer 3

First let me say in this environment this is NOT the way to get money unless you already understand how to choose winning stocks. Even then you may find that you buy a stock that shoudl be a winner but the market acts opposite. If you must trade and do not need advice then just get an account at www.tdameritrade.com and make the trades yourself. If you are looking for an advisor on which stocks to buy then you'll want to find a full service broker instead of an online trade processor.

Answer 4

The safest route is to start with virtual money. Don't risk your real money until you have at least a basic understanding of the stock market. Use stock market simulators to practice picking stocks. Maybe if you are good, you will want to start playing the market with real money. But chances are, one of two things will happen: 1. You won't be good, and you realize you need to start reading books and taking classes in order to change that. 2. You won't be good, and you'll realize you want to play it a little safer by investing in mutual funds, etc.

Answer 5

The safest route is bank and CD's that guarantee interests. All stock, mutual funds do have risks of losing money. Some more than another.

There are tons of internet brokerage that will save you money. But you take the risk on your own.

You may want to discuss with some full service brokerage firms like charles schwarb for financial planning.

Now, if you want to go on your own, please make sure you do your homework on investment. Read books about investing because you can loose money fast, really fast. Unless you are a lucky bastard, who makes money by luck.

Answer 6

Penny stocks are loosely categorized companies with share prices of below $5 and with market caps of under $200 million. They are sometimes referred to as "the slot machines of the equity market" because of the money involved. There may be a good place for penny stocks in the portfolio of an experienced, advanced investor, however, if you follow this guide you will learn the most efficient strategies https://tr.im/ed075

Answer 7

If you want to buy stocks, you need to be ready to start LOSING money too - the stock market is NOT the place to be for money you need now - hello - MSTR lost 128 points in one day - do you think you could have swallowed that loss? If you need to make money, buy GMAC demand notes - they pay 6%, and are as safe as something not guaranteed by the government can be (better intrest rate is because GM bonds are rated junk these days0>

Answer 8

First thing to do is your homework. I'm in the same position and have found the website "the Motley Fool" at www.fool.com very educational. They sell a subscription for stock advice, but they give a lot of free advice on the website. They cover Stocks, Bonds, Mutual Funds, and how to get started in each. very good advice in there for determining your goals. But they want some bucks for the stock picks. Might be worth it. have a look.

Answer 9

The safest way is to buy stocks of the larger companies out there, in industries that endure.
Other than that, do your homework on BROKERS, then on STOCKS. (as if you don't have enough homework right now).

I heard that Jim Cramer paid off his school early with his investments - good luck to you!

Answer 10

Buying stocks is a risky business, let's face it, if it really made money for us we'd all be doing it. If you still want to go ahead, ask yourself the question: If I lost this money would I miss it? If the answer is no, go ahead. If the answer is yes, think of an alternative to make money.