i want to begin investing in the stock market
not for big time money, but for pocket change, say about 300 to 400 a week would be good
how do i start investing money? how do i open up a portfolio? what are the essential things to do in order to invest in the right stocks? how do i know which stocks to pick? where do i read about which stocks are doing good and which are doing bad? i need some major help!
not for big time money, but for pocket change, say about 300 to 400 a week would be good
how do i start investing money? how do i open up a portfolio? what are the essential things to do in order to invest in the right stocks? how do i know which stocks to pick? where do i read about which stocks are doing good and which are doing bad? i need some major help!
arjun s 1:02 pm on June 7, 2010
Investing is a very rewarding activity if you know what your doing!!! yes it has risks and rewards and you have to be clear on what your objectives are and strategies are. The first thing you need to do in order to get started is open a brokerage account, this will give you the ability to buy and sell shares on markets like the NYSE (New York Stock exchange) and the NASDAQ, there are many brokeage firms out there but if you want to spend as little on commison as possible stick to the discount brokers good ones are E*trade (www.us.etrade.com) Firstrade (www.firstrade.com). As excited as you may be, dont make a single step until you are ready you have a lot to learn on stocks im 20 i have been trading since i was 17 and i still get trapped in pitfalls, YOU MUST!!!! and i Mean MUST!!! read as much as you can on strategies and techniques a good place to start is Investopedia.com (aslo have fantasy portfolio in order to practice your strategies) good begginer intermediate and expert tutorials, read books and on line articles books like the intelligent investor by Benjamin Graham are classics Amazon has abundance of them.
Your question about knowing which stock to pick well Thats a question that everyone asks when that opening bell rings, it really depends on your strategy of picking for example i am a value investor so i look for stocks that are under priced with strong fundamentals, while my friends are technical analysts and they base they’re buying based on a stock chart etc. you can read up on stocks on many many sources stock quotes and charts on google.com/finance or Cnbc.com or bloomberg.com newspapers like the financial times. Remember take your time and be very clear on your stratergy dont be afraid to get out there, fortune only favours the brave, eventually you’ll find something that works for you (at least most of the times ; ) ). Good Luck and Happy investing
Cai W 1:02 pm on June 7, 2010
A lot of people are going to tell you about the dangers of stocks etc – I’ll spare you the lecture.
Newspapers give tips on hot shares, and you can find tips on the internet by just typing in ’share tips’ and browsing for a while.
To open a portfolio you need to find a stockbroker on the internet. I used http://www.foolsharedealing.co.uk but there are plenty of them around!
Use your instincts and look at a share’s long term potential and how the company is doing generally before buying into a company.
To get about 300 or 400 a week you will have to invest a LOT of money. Don’t expect gains like that straight away, and don’t expect them all the time either.
Maybe you can go and see somebody in a bank who can actually give you expert advice, tips and maybe start an account for you, because Yahoo Answers isn’t goin to give you an amazing answer!