2007-02-17 19:13:03 · 6 answers · asked by Anonymous in Business & Finance ➔ Investing
If you want to invest in the stock market, you'll need to open an account with a broker (e-trade, ameritrade, scottrade, etc). Check on their website to see if the broker charges account maintenance fees on small accounts if you're not investing a large amount of money (having to pay $50 a year on a $1,000 account can eat away at any profits you make rapidly.)
The easiest way to invest in the stock market is to buy what are called exchange traded funds. These allow you to own a small amount of stock in a large number of companies, which reduces the liklihood that you'll invest in the wrong company and lose a lot of money. I'd recommend an S&P 500 fund (which will allow you own a little stock in each of the 500 largest companies in the US); two examples are the ishares index fund (ticker symbol I V V) or the SPDR index fund (ticker symbol SPY).
I wouldn't recommend investing in individual stocks unless you have a lot of time to research them and the stock market, and can afford the risk of losing money.
2007-02-17 19:34:08 · answer #1 · answered by Adam J 6 · 0⤊ 0⤋
Finding another word will be helpful. "Play" is something you do in a game. The outcome doesn't really matter. But, in the market, it is real money and it should not be considered play. Work is more like it and, like becoming a surgeon or a lawyer, you will have to get some education at some expense and take a lot of time to become good at it. To be successful, you will need the same thing as in any other business, education and hard work. Find a book entitled "Come into my trading room" by Elder and read it cover to cover. Good read, easily digested, and excellent advice.
2007-02-17 22:35:00 · answer #2 · answered by ZORCH 6 · 0⤊ 0⤋
The Motley Fool is a website that caters to the individual investor. They have a stock market game called CAPS and it's free to play and there is no money involved. It can give a beginner an idea if something is a good investment.
2007-02-21 12:14:45 · answer #3 · answered by jak80_1999 2 · 0⤊ 0⤋
You might want to check out http://www.top10traders.com - this is a free site that lets you create a portfolio of stocks with $100,000 in "play" money. Each day the site ranks the best performing portfolios, so you can see how your picks perform compared to other investors. You can read posts on investing from the best traders, as well as share your own investing ideas. There is a charting feature, so you can see how your portfolio performs compared to the S&P 500. Also, you can create your own "group" so that you can see how you are doing compared to your friends.
Here are this month's best traders:
http://www.top10traders.com/Top10Standings.aspx
Good luck.
2007-02-18 01:15:07 · answer #4 · answered by Anonymous · 0⤊ 0⤋
The Stock Market IS NOT A GAME.
2007-02-19 09:02:48 · answer #5 · answered by Anonymous · 0⤊ 1⤋
its depend on share market .simple logic if share market down u will purchase share and that time it is necessary to switch u r account.
2007-02-17 19:41:25 · answer #6 · answered by santosh 1 · 0⤊ 0⤋