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!
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 like Real Money (he’s got a few).
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!
2007-01-23 08:07:57
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answer #1
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answered by Yada Yada Yada 7
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The stock market is simple. There are brokers, their job is to buy and sell stock as you tell them to. The stock you buy or sell is your choice and is usually decided on a personal opinion of the buyer/seller.
I thought that Chrysler was a good buy because the US government gave them a bunch of money to get their company working. My $300 investment bought me 100 shares. If I held it until the stock price got to $30 per share, I would of made $2,700.
It is that simple. Read the financial pages and when you find a company that you believe will do something in the future, buy . There is no minimum to start and a stockbroker has access to company information that most of us don't know about. But the stockbroker don't care about you or your profit. They will often tell you things you want to hear to get you to buy.
Do your home work and read. That is the best way.
2007-01-22 17:28:26
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answer #2
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answered by whatevit 5
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Try this website - www.investopedia.com It should help get you started.
As for stock choices, that something that you should decide on your own or with a broker. Don't trust anyone's stock suggestions without doing your own research, because they could be giving you a suggestion that is in thier own interest, not yours.
Good luck and be careful!
2007-01-22 17:18:35
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answer #3
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answered by Anonymous
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I would choose McDonalds.
The trick is, buy low, sell high, wait till McDonalds drops to under $40 per share then buy.
2007-01-22 17:18:50
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answer #4
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answered by Darth Vader 6
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Read "Understanding Wall Street"
2007-01-22 17:40:40
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answer #5
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answered by Anonymous
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Open a brokerage account at SogoInvest with at least $300.00 USD and then drop me a line.
I will email you a few stock trades for FREE and you will understand easily.
2007-01-22 20:04:40
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answer #6
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answered by Anonymous
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I would recommend you to check the website below where you can learn about shares and stocks trading and also how to select best shares.
Hope it helps
http://money-review-site.com/shares.html
http://www.money-review-site.com
2007-01-22 21:17:09
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answer #7
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answered by Anonymous
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don't take stock tips from people online......
that being said....here are a few to look at and do your own research on
lvlt, intc, aapl, auy, t, twx, idcc
2007-01-22 17:24:58
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answer #8
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answered by The other GUY 2
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