I am intrested in buying stocks, but do I find a brokerage firm to have an individual give advice on procedures to do it myself or have them overlook the progress of my choices. Also, i'd like to know how much can be used as liquid assets to purchase a home or go on a vacation, etc.
2006-09-10 03:10:17 · 3 answers · asked by lookCalifornia_feelMinnesota 1 in Business & Finance ➔ Personal Finance
I would start with a discount broker like TD Ameritrade or Etrade. They do give advice on how to get started on line. You should first look at mutual funds or ETF's to get started. Investing in individual sercurities should come after you have built a nice foundation. I would start with index funds. While you are building this every month, take some time to learn more about investing. When you build up a nice portfolio, then you can add in individual stocks.
After you build your foundation, you can margin your portfolio for a downpayment on a house or vacation but it is not advised for new investors. Margin can bite you later if not used properly. I would start saving cash in a high paying money market like ING in addition to buying mutual funds/ETF's. Then you can use those funds for a house or vacation.
2006-09-10 03:16:27 · answer #1 · answered by Vegas 2 · 0⤊ 1⤋
I would first suggest that you read Jim Cramer's book Sane Investing in an Insane World. Then read a book by Toni Turner called Short Term Trading-A beginers Guide. It has charting that is very important to learn about. I use Fidelity, http://www.fidelity.com . You can research through their website without having to register. We are able to use Fidelity Active Trader Pro by having a certain amout of money in the household. What they offer in the website is sufficient for the reserach involved in trading stocks. I would suggest to you to learn how to do it yourself. Right now is not a very good time for a beginer to be buying stocks. We are in a bear market and there is a lot of selling going on. A lot of the stocks are very volatile right now and you can lose a lot of money if you don't know what you are doing. Now would be a good time to open a brokerage account, learn about the stocks and contribute to a roth IRA or your brokerage account. Just learn about it yourself. It is a lot of fun and can be addictive.
2006-09-10 10:23:02 · answer #2 · answered by Anonymous · 0⤊ 0⤋
first open a demat account.
look for a company which is sure to have a bright and profitable future.
Read it's documents carefully
invest not more than 3/10 th of ur savings in it to reduce risk of loss.
2006-09-10 10:17:01 · answer #3 · answered by ? 5 · 0⤊ 0⤋