I want to buy a stock... Got a few questions.?

Question

Alright, i am 18 and i will like to start buying stocks, ect, i been reading around , but not exactly getting the information i need. Alright so let say i have 200 dollars, What will be a good website which will let me buy a stock and is easy to use? is e trade good? or are the fee's to high? I need a begginers website, easy to use .. thanks

Answer 1

Congratulations on getting started. It’ll help you more than you know!

You ask a very broad question, so be prepared for a pretty long answer. Just take it in chunks!

I'm going to give you a little longer answer in case you're also looking to learn about investing as well. I apologize in advance if you already are good at investing and just want a website, though I'll answer that question as well.


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.


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.

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 FREE 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. All these sites will be good for you to get your feet wet.

Start slow, then as you figure things out, you can use real money and then eventually buy more shares.

Congrats again on getting started. If you have any questions, please let me know.

Hope this helps!

Answer 2

Cost 7 dollars a trade at least and $200 aint much you could try buying a bunch of penny stocks you might get lucky but you really need more money to have a decent chance to make anything at any given time ive got bewtwenn $150,000 and $250,000 invested but i been playing game a long time Last week when market crashed really hurt still recovering from that

Answer 3

I recommend Scottrade with $7 trades and it is very easy to use, plus it has branches in many cities if you want to stop in and visit with a broker.

As far as stocks go...two books you must buy, both by Jim Cramer - "Real Money - Sane Investing in an Insane World" and "Mad Money - Watch TV Get Rich". If you are going to buy stocks, you must do homework!!! He also has a show CNBC - called Mad Money.

Answer 4

E*Trade fees are too high. Another responder (to another question) said he/she was charged $25 per quarter for a maintance fee. I have a friend who was changed $40 per quarter. Try www.sharebuilder.com. $4 to buy, around $15 to sell. Someone may suggest Scottrade. They do not let you reinvest dividends (which is a good way for your account to grow), sharebuilder does let you reinvest dividends.

Answer 5

Zecco.

Answer 6

sharebiulder.com

Answer 7

www.sharebuilder.com