I am 18 years old and I would like to . I am going to open a Scottrade account with 0. What are some good companies I should invest in or some advice on how to make good ?

 

  • Common Sense 1:05 pm on June 30, 2010

    Before you open an account. Before you consider what to trade…….

    Be smarter than most. Learn the basics. Read some books. Never (ever) take stock tips from anyone (especially strangers, whose qualifications and motives can never be known). Decide what type of investor or trader you want to be. The 2nd biggest mistake you can make, as a new trader…. is to buy stocks trading less than $10 a share. Do over $20…… Buying 10 shares (or 3, or 5 etc) is always "OK".

    If you don’t learn the basics… you’ll pay plenty of money in basic, avoidable mistakes. Scottrade is an above average broker….. better than ETrade, Sogo and a few more. In a year or two… you may find moving on to a better broker is a good idea.

    Start off with books from the Dummy series.Then move on to more specific books. Never stop trying to learn how to invest or trade.

    Good luck!

  • The Technomancer 1:05 pm on June 30, 2010

    With only $500, maybe you should pick something a little less volatile than stocks as an initial investment to build up good starting capital for when you want to make some serious and informed trades. Start off in bullions instead, then move your profits from there to the stock market later on. You can get started in that market using the tips and articles found at http://www.buybullionnow.com/

  • WISEGUY 1:05 pm on June 30, 2010

    Look up I Share gold stock IAU. You cannot go wrong on this stock as even like today with tripple number loses it still did ok. It just had a 10 for 1 split. I had 1000 shares that turned into 10000 and I plan to keep it for as long as I can. Cannot go worng on this gold ETF.

    • People are reading:

    What Are Some Good Stocks to Invest in for Long Periods?, how do invest in stocks with scotttrade, Is scotttrade a good investment