I have a lump sum of money which I am interested in investing. Its not a huge amount but I would like to become familiar with buying and selling shares. How is the best way to go about this and learn about the industry? Can I deal easily online?
2006-10-17 02:35:48 · 9 answers · asked by Billybob 1 in Business & Finance ➔ Investing
Congratulations on getting started. It’ll help you more than you know!
Your first dollars should be spent on getting educated on investing. You don't have to train to trade them professionally, but we are talking about your future here. So the more you learn, the more it'll help you! So let's start there.
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 since you say you've got no clue!
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 until you track many of them over time. 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).
For 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. Take your time, and let it seep in.
As you get up to speed, you should papertrade to practice (highly recommended). This should help reduce your losses in the beginning as you get used to buying/selling.
You can practice for free on almost any reputable broker site (optionsxpress, scottrade, thinkorswim, etc). And yes, you can definitely deal easily online.
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!
2006-10-17 18:54:54 · answer #1 · answered by Yada Yada Yada 7 · 2⤊ 0⤋
If you make informed decisions and approach your penny stock investments with the same thoroughness that you’d use in your other investments, you too can unlock a whole lot of profit potential. Learn here https://tr.im/BFKc9
It’s absolutely true that penny stock investors can make very quick gains. Synutra International, Inc. (NASDAQ: SYUT) is a great example of a penny stock. This dairy-based, nutritional-products company has jumped from a little Bulletin Board operation to a billion dollar corporation. The company finally graduated from Over-the-Counter status to the NASDAQ Stock Market bringing with it 113% gains in less than two months.
This happens all the time and it’s how some of the best investors in the world became the richest investors in the world. Buying some shares for pennies on the dollar and selling at $10 or $20 is possibly the fastest way from being a hobby investor to a super investor
2016-02-16 17:33:48 · answer #2 · answered by Anonymous · 0⤊ 0⤋
A great site to look at if you are new to investing is
http://www.top10traders.com
The site lists out which investors are doing the best and what stocks they have bought. Just click on the portfolio of the best investors and you can see the stocks they like.
This is a totally free site. You can create your own portfolio of stocks with $100,000 in 'play' money, and then watch how your stocks compare against other traders. It is a great way to learn about investing (and you don't have to risk losing any money).
When you feel comfortable with a stock that you have in your 'play' portfolio at http:www.top10traders.com then you can go out and buy the real thing. Good Luck!
2006-10-17 02:52:28 · answer #3 · answered by jojo 3 · 0⤊ 1⤋
I would say you should be best off if you learn all about the stock market first.... My advice would be to read books..... You could read so much about investing these days, it can really help a lot to know where youre putting youre money.... The neatest little guide to the stock market by jason kelly is a great book to start off.....it gives you great ideas for further reading on the topic and it also prepares you for youre investing travesy.....well then good luck for now
2006-10-17 03:11:24 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Nothing really to learn. Those play sites are mainly for those who plan to day-trade or otherwise churn thier accounts which you should not. Schwab.com a good start. Nothing to know in buying 1 - type & click. Index funds probably best for you unless you want to do heavy research. Maybe a little IAU (gold etf) due to coming inflation. Just start instead of thinking. Not brain surgery or very few people could do it.
2006-10-17 04:51:04 · answer #5 · answered by vegas_iwish 5 · 0⤊ 0⤋
The library/bookshop....
You may be well served to learn how to analyse companies to determine the best ones to buy. Remember that there's generally a strong correlation between risk and reward - the larger the return you want, the more risk you usually have to assume.
I think that you need to put yourself in the position to be able to understand WHY you are buying a particular share, rather than just because a chap in the pub had heard a rumour.
Good luck!
2006-10-17 08:29:30 · answer #6 · answered by thegodfather 2 · 0⤊ 0⤋
A common misconception is that you will have to be a financial and business expert in order to successfully trade binary options. However, this is not true at all. Learn here https://tr.im/2DgV2
Perhaps it’s true when it comes to traditional stocks trading but definitely not true in the case of binaries. You don’t have to be an expert to predict the movement of certain assets.
2016-02-14 14:23:39 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Tv set is produced to the cheapest common denominator - i.e., the average IQ of the general public, whereas a booklet is written to the highest common denominator
2017-03-03 14:24:23 · answer #8 · answered by ? 3 · 0⤊ 0⤋
1
2017-02-19 19:44:31 · answer #9 · answered by Anonymous · 0⤊ 0⤋
I love watching TV, I really like the pet shows, the medical shows and the court and Judges shows
2017-02-03 02:55:25 · answer #10 · answered by ? 3 · 0⤊ 0⤋