where do I start if I want to get into the stockmarket and e-trade?

Question

Does anyone have any suggestions or names of some good books for newbies that can teach them the gist. And how much does it take to start??? Thank You

Answer 1

firstly, if you put this in the investing category in business it'll be looked at faster and by people who know better.

2nd) You don't need a helluva lot of money, you could invest for under 500 or under 1000, to up to many thousands.

3rd) When starting out, even if you have an investment account, do some paper trading, pretend to buy certain stocks and see how you do. Do you make an overall profit or loss?

4th) talk to someone who knows or already invests

5th) Subscribe to as many sites and get as many books that talk about stock market investing, and try to learn as much as possible

6th) Don't go with people who say that a certain stock is going to go up. When investing, make an educated guess. Read current news and see if a prospect for that company has arised or if they were just sued. Will they be making a new product? or filing for bankruptcy?

Remember, know as much as you can!

Answer 2

I would start with the book: How to Make Money in Stocks by WILLIAM J. O'NEIL.
This book covers the basics quite well, although he's also trying to sell his newspaper Investor's business Daily throughout the book.
I wouldn't play the market though, until you have 10,000 to invest and you can afford to lose money. Don't do any of the risky investing like shorting, puts, calls, and margins. It's not necessary, and should not be tried until you've been trading for 5 years or more.
If you only invest with a small amount like $2000, you won't make much money. Even if your stock(s) go up 30% , you only make 600 and much of that is eaten up by taxes and trading fees. If you make only 10% on 10grand, you will get 1000 dollars profit, and your commissions are a lot less of a percentage of your investment.

Answer 3

Go to you local Bank and ask them if they offer on-line dealing in UK shares or if they can recommend some. You could also contact an international bank - eg. Barclays or a well established broker in your country of residense. Be warned that UK Laws and the FSA (Financial Services Authority) protect UK residents only and you will have limited options if anything goes wrong. I recommend you avoid 'unknown' share dealing sites = there are a lot of dubious operations that may go out of businesses and take you money with them... and there are even more pure 'scam' sites that exist only to steal your funds.

Answer 4

The best advice I ever got is to start out investing in companies that you know and use - products you are familiar with and like. If you like them, chances are, other people do to and the company will be successful.

Don't know about books, but Cramer's Mad Money on MSNBC (or is it CNBC?) is informative and entertaining.

I use Scottrade and Charles Schwab for trading myself.

Good Luck!

Answer 5

heres a website that gives shows you how to get business ideas. Go to www.youngbiz.com