How much can I start with? Any recommended services? a FAQ maybe?
I am no stranger to Finance but I haven't tried this before. Is there a site that would give you a mock set-up to test for example?
2006-10-08 14:24:54 · 8 answers · asked by RedBelt 2 in Business & Finance ➔ Investing
Congratulations on getting started. It’ll help you more than you know! You ask a very broad question, so be prepared for a pretty long answer. Just take it in chunks!
How to invest depends on what you already know. We'll assume that you're beginning, even though you say you're no stranger to Finance.
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 and investopedia.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.
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 with a book or two to give you an idea of where to begin.
Since you're starting with a smaller amount of money, you'll probably want to save up at least a few dollars so you don't get eaten up by commissions (around $10-15/trade). When you have say $200 or so, you can put it into an ETF or into a growth stock. Meanwhile, you can always papertrade to practice (highly recommended).
You can practice on almost any reputable broker site (optionsxpress, scottrade, thinkorswim, etc).
Start slow, then as you figure things out, you can buy more shares.
Congrats again on getting started. If you have any questions, please let me know.
Hope this helps!
2006-10-08 16:27:15 · answer #1 · answered by Yada Yada Yada 7 · 1⤊ 0⤋
If you aren't leveraged it is recommended you start with $10,000.
If you are leveraged then $1,000 is enough.
Remember the following:
- Set a maximum loss limit.
- Don't trade all your trading account in one hit. Preserve a little for when things go wrong.
- Make sure the brokers you deal with are registered financial entities and are regulated by your government.
2006-10-10 21:12:27 · answer #2 · answered by flying_eagle 4 · 1⤊ 0⤋
Trade the simulator for free at Investopedia.com - about as real as it gets, real time.
http://investopedia.com
http://investing.sitesled.com/
http://investedcentral.com
http://jacksteiman.com
http://bettertrades.com
http://futures.tradingcharts.com/learning/
http://winners-and-losers.com/
Article: Trading is Timing
http://www.investopedia.com/articles/trading/06/TradingisTiming.asp
Stock Charts
Bigcharts.com
http://www.stockTA.com
http://www.stockcharts.com
http://www.incrediblecharts.com...
www.prophet.net
americanbulls.com
2006-10-08 22:31:23 · answer #3 · answered by dredude52 6 · 0⤊ 0⤋
Hi, i suggest a great site with plenty of Issues related to your investing and everything around it. it also provide clear and accurate answer to many common questions.
I am sure that you can get your answers in this website.
http://investing.sitesled.com/
Good Luck and Best Wishes!
2006-10-08 22:32:05 · answer #4 · answered by stock.geek 2 · 0⤊ 0⤋
Read some useful stock and investing tips on this site to help you
2006-10-08 21:27:37 · answer #5 · answered by cutie 3 · 0⤊ 0⤋
Visit http://netnew.tripod.com and http://net-new.blogspot.com and you can trade in the Islamic way and you can start with very low money ! Good luck !
2006-10-08 21:32:34 · answer #6 · answered by netnew 7 · 0⤊ 0⤋
Download this free financial software
http://www.lsefinance.blogspot.com
2006-10-10 12:36:22 · answer #7 · answered by iconsulte i 1 · 0⤊ 0⤋
yes i can hook u up go to Aryan nation.com
2006-10-08 21:35:05 · answer #8 · answered by Anonymous · 0⤊ 0⤋