2006-10-22 18:18:16 · 5 answers · asked by gary 1 in Business & Finance ➔ Investing
A great site to look at if you want to practice your investing skills is http://www.top10traders.com 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. 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.. 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!
2006-10-23 02:44:03 · answer #1 · answered by jojo 3 · 0⤊ 0⤋
The best way is through a brokerage firm. I use Edward Jones and am happy with them. A stock brokerage firm will be able to recommend a good portfolio for you depending on whether you want high or low risk stocks. It is also beneficial to subscribe to a newsletter like Bob Brinker's newsletter because he makes good, solid recommendations for investments, and makes recommendations about what percentage of your portfolio should be in stocks, bonds, mutual funds, trusts, and so on.
Bob Brinker also has a radio talk show that airs on Saturdays or Sundays and people call in and ask for his advice. It is interesting to listen and learn from his talk show. Also, you can choose certain types of stocks or companies within a certain stock index (like the Nasdaq) and track them on your Yahoo Financial page. If you track a stock for a few months or longer and see that it is performing well, you may want to wait until the stock goes down again so you can buy in at a lower price per share. Here's a tip: oil trusts like British Petroleum Trust is going down right now. Within the next few months they will be a good stock to buy, because they will go up again. Another good investment right now is in Canadian oil trusts. Just like BPT, they pay dividends whether the stock is up or down. You can reinvest the dividends back into your portfolio to earn more money. If you have a retirement account/portfolio, you won't need to pay taxes on it until ready to retire as long as you leave it in the retirement account. A good stock broker can explain all this to you in detail. Try to get an hour long or even two hour long appointment so you'll have plenty of time to ask questions and go over the answers. If you are not comfortable with a broker, move on to another company. Also, watch those brokerage fees. There are good brokers out there who charge lower fees than others, so check that out too. Good luck and happy investing.
2006-10-23 01:43:20 · answer #2 · answered by LadyLgl 3 · 0⤊ 0⤋
pls forget about the broker...
since you are online trading so that is not part of the equation
bits and pieces of advices
learn the basics
and believe in yourself
do not be stubborn
u r not always right
u cant time the market
u cant profit massively overnight
dont follow tips
shield urself from all those promotion by analyst
analyst are not investment god
pick good companies
dont always get enticed by flashy numbers
MAKE sure your money is free that means you dont have to use the money to pay for your house mortgage or kids education, etc
2006-10-23 09:23:18 · answer #3 · answered by realdan 3 · 0⤊ 0⤋
I use Scottrade, $7 US per trade.. I am sure there are others online too. Start small and do your research.. Few there are who make $$ short term trading but it can be fun. Don't forget to add the cost of trading to your % of gain to see if it is worth selling.
2006-10-23 03:51:07 · answer #4 · answered by the_buccaru 5 · 0⤊ 0⤋
www.gloryhole.com will get you all the necessary steps
2006-10-23 01:20:20 · answer #5 · answered by Anonymous · 0⤊ 0⤋