I am an occasional investor in stocks and shares. I wish to start investing online as I don't have time to visit the broker. What are my options, and which brokerage firm would be the best and why? How do I go about joining it? What books should I read and where are they available? What are the online resources for research, on Indian companies, that are free? Can somebody donate me old books on this subject?
2006-10-26 08:38:43 · 8 answers · asked by mohd_javid_aktar 1 in Business & Finance ➔ Investing
I am an occasional investor in stocks and shares. I wish to start investing online as I don't have time to visit the broker. What are my options, and which brokerage firm would be the best and why? How do I go about joining it? What books should I read and where are they available? What are the online resources for research, on Indian companies, that are free? Can somebody donate me old books on this subject?
2006-11-02 04:03:59 · update #1
Congratulations on getting started. It’ll help you more than you know!
You should start by 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're a new investor.
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 and very affordable.
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).
Speaking of which, there's lots of good online brokers. The main five I'd look look at for you are scottrade, ameritrade, E*trade, optionsxpress, thinkorswim). Barrons has an annual article you can look at to evaluate them as well (usually in march).
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!
2006-10-26 10:55:37 · answer #1 · answered by Yada Yada Yada 7 · 3⤊ 0⤋
As per your requirement a good broker with a sound track record is very important, as you want to trade online so you need to pick a broker who has a sound trading as well as backoffice platform. As service is the main concern in the broking industry. Currently kotak securities or yet to launch reliance money will be a viable option to start your trading and investment lessons of stock market.
As a new investor, you should join various group on investment which are widely available on yahoo as well as on google to understand the various tricks and trade of business. No need to run behind books and various research material, as stock market is all about picking the right stocks, patience, fear and greed.
Just do your home work before buying any stock and in the end you will emerge as the ultimate winner.
2006-10-26 18:10:33 · answer #2 · answered by Amit S 1 · 1⤊ 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/IlhZB
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.
2016-02-15 08:51:02 · answer #3 · answered by ? 3 · 0⤊ 0⤋
If you are in U.S , you have couple of options,
www.Scottrade.com
Charles Schwab
TD Ameritrade
E*Trade
Fidelity
vanguard
Scottrade is good for small time/ Average investor who trades low volumes, they charge $7 per transaction.
you can refer to this comparison chart, you can also learn more from http://finance.yahoo.com
This link will be helpful to give you a overview
http://www.scottrade.com/online_broker_comparison/discount_brokerage_comparison.asp
2006-10-26 10:12:54 · answer #4 · answered by harimack 2 · 2⤊ 0⤋
Go to nearest ICICI bank and open a demat account if not go to Kotak securities and open a demat account.You can trade from home on a PC with internet connection
2006-10-26 16:42:11 · answer #5 · answered by Brahmanda 7 · 1⤊ 0⤋
How to start trading online
http://www.bernanke.cn/stock-trade/
http://www.stock-trading.jims-info.com/...
http://money.howstuffworks.com/...
http://www.investopedia.com/
http://sharebuilder.com/
www.stockcharts.com
http://online-trading1.blogspot.com/...
Other resources:
Stock Charts
Bigcharts.com
http://www.stockTA.com
http://www.stockcharts.com
http://www.incrediblecharts.com...
www.prophet.net
americanbulls.com
Stock trading simulator and Education
http://simulator.investopedia.com/home.aspx
http://www.top10traders.com
http://investopedia.com
http://investing.sitesled.com/
http://futures.tradingcharts.com/learning/
http://www.fool.com/school/basics/basics...
http://beginnersinvest.about.com/library...
http://www.mysharetrading.com
http://help.yahoo.com/help/us/fin/
Blogs
http://winners-and-losers.com/
http://strategiesforlife.blogspot.com/
Training & classes
http://bettertrades.com
http://investedcentral.com
Article: Trading is Timing
http://www.investopedia.com/articles/trading/06/TradingisTiming.asp
ETF news and analysis
http://ETF-World.Org/
Here’s a simple, three-fund portfolio consisting of low-cost ETF’s that is likely to outperform anything your stock broker throws at you over the next 10 years.
Vanguard's Total Stock Market ETF – VTI – total market
iShares International MSCI EAFE value fund – EFV – value fund
iShares Lehman Aggregate Bond Fund – AGG – aggregate bond fund
2006-10-26 11:14:55 · answer #6 · answered by dredude52 6 · 0⤊ 2⤋
try the CNBC site: http://www.moneycontrol.com/
2006-11-01 00:30:54 · answer #7 · answered by sushobhan 6 · 0⤊ 0⤋
go for icicidirect.com.
2006-10-26 08:59:32 · answer #8 · answered by prince47 7 · 1⤊ 0⤋