What is the best way to get started buying/selling stocks?

Question

How do i create an online account, put money into it, know which stocks to buy, etc.

Answer 1

Ok. The best way to start is to read books. I know most people will immediately tell you to open an account. That's not the way to 'get started' thats 'how' to execute orders and its not the first thing to do(if anything, thats the 2nd to the last step).

Getting started requires knowledge of the market, the way it operates and companies whose stock you're interested in. You need to know these things, so naturally you want to pick up a book and get familiar with all of this. Once you understand the basics(if you already don't), you need to decide what type of person you are. An investor or a trader(if you don't know the difference you need to go back to reading). After that, THEN you find a broker- look at commissions/fee's/etc., determine which broker suits your trading habits best and open an account (opening an account is simple, just like opening a bank account). The LAST step is to place your buy/sell order.

Answer 2

The fact that you are asking such a broad question here tells me you are not ready to start investing in single stocks with an online account. I would first find some mutual funds with 5-10 year history of 10-12 % gains-easy to do. You can check with Yahoo finance page for that. My wife and I use a investment advisor to pick such funds and set up retirement accounts. You don't really need someone just to find and buy good funds. You need to understand stocks, bonds, funds, CDs, etc...before venturing out on your own. Heck Yahoo, Money online, Forbes.com can all teach you what you need to know over a weekend study. If you wanna win at this game due diligence (DD) is the only way not to steamrolled.

Answer 3

Do you have the time, interest, and energy to do your own stock research? It's a commitment if you're going to do it right.

If no, then I strongly recommend investing with a mutual fund company - T Rowe Price and Vanguard are my favorites. You will still be investing in stocks, but through mutual funds which means you are not picking individual stocks yourself - you have investment professionals doing it for you, and for a relatively small fee too! And you end up owning many stocks instead of just a relative few (diversification is good).

If yes to the above question, then maybe stock investing is for you. There are many online brokerages, scottrade.com and tdameritrade.com are two that come to mind that are sizable and respectable and yet still low-cost fees. Contact them either via Web site or phone and proceed to open account - they will guide you through the process. Then deliver check and your account is funded and you can start trading.
They will not give you investment advice, so you will still need to do your own stock research. Good places to start include morningstar.com, aaii.com, Yahoo Finance, MSN Money, etc. I strongly recommend doing a good bit of reading and research before you actually start investing - it is so easy to make mistakes in the stock market.

Answer 4

The easiest and fastest way is to go to Scottrade. They have over 290 branches nationwide and the cheapest commisions out of all the brokerage firms.

Brokerage comparisons..

http://www.scottrade.com/online_broker_comparison/discount_brokerage_comparison.asp

Fast transactions..

http://www.scottrade.com/online_broker_comparison/discount_brokerage_trade_speed.asp

1) Fill out the application form at your nearest branch.

2) Bring 2 photo I.D.s and proof of your social security number.

3) Give your branch a check to fund your account.

Start trading online at 7 bucks per trade.

Answer 5

Creating and funding the acct is nothing. Schwab.com then send them money. Don't bother trying to know which stocks to buy. Closed ends (GAm ADX PEO) etfs (EWA PWT EFA) and some index funds for s&p500 and the like is plenty. Invest - don't speculate.

Answer 6

Don't do anything for 6 months to a year. Read as much as you can. I know this is not what you're looking for.... but anything else constitutes gambling.

Investing is great for those people that have goals and understand what they're getting involved in.

Answer 7

Open a brokerage account at Zecco.