If I want to buy stock,
how would I do that and how old must you be
2007-03-08 06:40:49 · 4 answers · asked by Southwest and Jet Blue Airways! 2 in Business & Finance ➔ Investing
Congratulations on getting started. It’ll help you more than you know! First off, you can buy stock in a custody or joint account, so dont' let that stop you.
However, 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!
2007-03-09 10:12:14 · answer #1 · answered by Yada Yada Yada 7 · 1⤊ 0⤋
The age varies between 18 and 21 between most states. If you are younger than that you must open an account with a parent or guardian.
You can do it through a financial advisor or online through e*trade or scott trade.
2007-03-08 14:50:19 · answer #2 · answered by Michael's M 2 · 0⤊ 0⤋
Yes. You can learn how the stock markets work.
Its a policy voilation of yahoo if i post any link here.
Just mail me at solidoffer1@yahoo.com with subjet- stock markets . I will send a link of best website where you can find good offers, tips and resources.
Best wishes
2007-03-09 08:35:32 · answer #3 · answered by Anonymous · 0⤊ 0⤋
read tips on investing , stocks and mutual funds to help you better on this site
2007-03-08 15:02:19 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Open a brokerage account.
2007-03-08 18:23:13 · answer #5 · answered by Anonymous · 0⤊ 1⤋