2006-09-24 01:18:16 · 14 answers · asked by jennyarthur116 1 in Business & Finance ➔ Investing
How to invest depends on what you already know. We'll assume that you're beginning.
A good primer is How to Make Money in Stocks by William O'Neil. You can get it cheap just about anywhere. It’s widely available new or used.
Another good one is one of Jim Cramer's books.
But books will only get you so far. At some point, you'll also want to get at least a little training. There are some great education companies if you want to make the investment. Investools.com or optionetics.com are both very good companies as is tmitchell.com
For free, you can start by visiting thestreet.com. That'll get you a pretty good primer so at least you'll understand what the markets are and what a stock is, etc. If you get a chance, watch Mad Money on CNBC. Don't trade any of his picks. Just use the show to get you to understand some basics and get a feel for the market itself.
Next, subscribe to something like investorsbusiness daily or something like that that can help you identify good stocks.
Do a quick search (at the top of the page) on ROTH IRAs. You’ll want to put some money in there.
Once you understand stocks, go to 888options.com. It's a website that'll help you understand options (what they do, how they work, etc). You don't need to trade them, but the more you know, the more you'll see how options can really be the safest way to invest (once you're educated).
As you get more advanced, you might want a technical analysis book like Murphy's Visual Investor or A Technical Analysis Course by Meyer.
If it's discipline (which is crucial to successful trading), probably Trading in the Zone by Mark Douglas or Mastering the Trade by John Carter
I know that’s a LOT to absorb. Just take it one step at a time for now. Start slow, then as you figure things out, move out of mutual funds into ETFs and/or stocks.
Congrats again on getting started. If you have any questions, please let me know.
Hope this helps!
2006-09-26 08:53:53 · answer #1 · answered by Yada Yada Yada 7 · 1⤊ 0⤋
The best way to get started on the stock market is to decide what you want to get out of the stock market.
2006-09-24 23:05:09 · answer #2 · answered by Piet Strydom 3 · 0⤊ 0⤋
First, plan to invest no more money than you can afford to lose. Second, go to www.investopedia.com and research and read so that you understand what you are doing. Third, go to www.vanguard.com and do more of the same. There are expensive and inexpensive ways to buy stock and that's one area you might research. Fourth, invest in companies with which you are familiar either because you do business with them or know a great deal about them. Knowledge and understanding are keys.
2006-09-24 01:59:07 · answer #3 · answered by DelK 7 · 0⤊ 0⤋
The best way is through a 401(k) or a Roth 401(k), if your employer offers them. If they don't try a mutual fund. If you are serious about investing a lot right now, I agree with the other posts and get a broker. If you just want to get your feet wet, pick to funds, one risky, the other safe and watch how they perform.
2006-09-24 01:53:01 · answer #4 · answered by Fermat 4 · 0⤊ 0⤋
Definitely work with a stock broker, mutual funds are really a pretty good deal, see if your employer has a 401K plan and get into that
2006-09-24 01:25:19 · answer #5 · answered by nbr660 6 · 0⤊ 0⤋
okay..... 1st the bad news.... statistically its 7 x more likely the average trader loses in stock markets to 1 actually making money. if you still interested decide if its long term or short... if short ... stick to nasdaq usa...relatively easy to open a u.s trading ac on internet...its called day trading but not worth doing in uk. if its long term, you can do it anywhere. start small and learn as you go along...try the AIM in uk. EVERYTHING YOU NEED TO KNOW IS FREE ON THE NET
2006-09-25 10:24:32 · answer #6 · answered by carol g 3 · 0⤊ 0⤋
Get a good amount of cash... Hire a stock broker.... Wish yourself luck... Read stock reports and study the patterns...
2006-09-24 01:20:10 · answer #7 · answered by Erzsébet B 1 · 0⤊ 1⤋
the best trading software http://tradingsolution.info
i have attended a lot of seminars, read counless books on forex trading and it all cost me thousands of dollars. the worst thing was i blew up my first account. after that i opened another account and the same thing happened again. i started to wonder why i couldn,t make any money in forex trading. at first i thought i knew everything about trading. finally i found that the main problem i have was i did not have the right mental in trading. as we know that psychology has great impact on our trading result. apart from psychology issue, there is another problem that we have to address. they are money management, market analysis, and entry/exit rules. to me money management is important in trading. i opened another account and start to trade profitably after i learnt from my past mistake. i don't trade emotionally anymore.
if you are serious about trading you need to address your weakness and try to fix it. no forex guru can make you Professional trader unless you want to learn from your mistake.
2014-12-19 03:36:47 · answer #8 · answered by MCHUGHES 3 · 0⤊ 0⤋
I would say try and do as much research as you can on the internet or by buying magazines. Then if you buy certain shares which you know are safe bets, and gradually get a bit riskier as you beging to know more.
2006-09-26 23:19:08 · answer #9 · answered by Anonymous · 0⤊ 0⤋
take a class through your local community college on entreprenurial developement
the guidance counselor should steer you in the rite direction
2006-09-24 01:27:53 · answer #10 · answered by Anonymous · 0⤊ 0⤋