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Help on investing in stocks?

Help on investing in stocks?

Postby tait49 » Sat Feb 02, 2013 4:36 pm

Im 15 now and have money saved up and I want to put it in the market. How do I start? How much should I put in? And what's the best company I've heard Nokia but I'm not sure. I need to start somewhere :/
tait49
 
Posts: 161
Joined: Mon Jun 25, 2012 5:03 pm

Help on investing in stocks?

Postby thorne8 » Sat Feb 02, 2013 4:39 pm

Im 15 now and have money saved up and I want to put it in the market. How do I start? How much should I put in? And what's the best company I've heard Nokia but I'm not sure. I need to start somewhere :/
When I was eleven my dad opened a custodian account for me and deposited by money into the account. Before I could invest I had to learn how the markets worked, what were the different types of stocks trade and have a basic understanding of the rules.

Yes I could invest through my Dad using the custodian account but it took me several years to really understand the basics. It wasn't until I was in high school could I start trading, still using the custodian account.

Before you start to worry abount what is the "best" company to invest in, learn what you are trying to do, why you're doing and how to do it. (Nokia is not one of them)

Yes you need to start some hwere, we all did Before you spend $0.01 on any investment, you must know what you’re doing, why you’re doing it and how to do it. Before you invest in any security, the first investment you should make is in yourself, and the best investment you can make is by educating yourself.

Start your education by learning why you should invest and the importance of being able to make your own decisions or how the pro’s make theirs. Start your education by reading “Investing or Dummies” by Eric Tyson.

If you still want to invest you should select some of the following
Beating the Street by Peter Lynch
How to Make Money in Stocks” by William O’Neil
24 Essential Lessons for Investment Success by William O’Neil
The Intelligent Investor, by Benjamin Graham
Common Stocks, Uncommon Profits, by Philip A. Fisher
One Up on Wall Street by Peter Lynch
Stocks for the Long Run, by Jeremy Siegel
What Works on Wall Street by James O'Shaunessey
You Can Be a Stock Market Genius by Joel Greenblatt
Your Money and Your Brain by Jason Zweig

Websites that can provide instructions and help with procedures and terminology are Investopedia - http://www.investopedia.com/ http://www.investorshub.com/ and 1 Source for Stocks - http://www.1source4stocks.com/info/stock-analyst-opinion.asp or Smart Money
http://www.smartmoney.com/
Visit some of the more professional websites like Zacks Research - http://www.zacks.com/ Schaeffer’s http://www.schaeffersresearch.com/ Investors Business Daily - http://www.investors.com/default.htm?fromad=1
Some of these web sites will have advertisers who are worth looking into also. And remember, if they offer free information, get it.

And when you think you want to invest/trade, try some paper trading to test your skills without spending you money http://simulatorinvestopedia.com/ http://www.moneyworks4me.com/
and/or http://www.tradingsimulation.com/

You at least have made the right decision to start investing, this is the first big step and it won’t be your last. Keep taking those steps forward and along the way never take the advice from people that are not in the market or try to tell you not to invest.

Good luck on your journey, study hard and you’ll invest well.
thorne8
 
Posts: 143
Joined: Tue Jun 26, 2012 2:24 am

Help on investing in stocks?

Postby dov » Sat Feb 02, 2013 4:45 pm

Opening a brokerage account requires signing a contract. You have to be 18 or have your parents open a custodial account.

Good companies include Schwab, Fidelity, Vanguard.

Investing is very competitive, so your first step is to get some education on investing. 3 great books:

One Up On Wall Street - Peter Lynch
A Random Walk Down Wall Street - Burton Malkiel
The Intelligent Investor - Benjamin Graham

There are a few decent web sites (ex: Investopedia), but a lot of crap and many scams.

Nokia is actually in quite a bit of trouble, and not a stock I would suggest for a novice investor.
dov
 
Posts: 146
Joined: Mon Jun 25, 2012 11:39 pm

Help on investing in stocks?

Postby ern10 » Sat Feb 02, 2013 4:49 pm

Let me answer part of the questions first. You need to open a trading account with a brokerage and you have to be 18. I'll answer the rest of the question when you reach 18. Meanwhile, you still have 3 more years to save up your money.
ern10
 
Posts: 31
Joined: Mon Oct 29, 2012 11:45 pm

Help on investing in stocks?

Postby matunaagd98 » Sat Feb 02, 2013 4:51 pm

Explain what stocks are. Explain how they can make you money. Explain why investing in stocks is a good choice.

If you can't do these things, forget you ever heard of stocks.
matunaagd98
 
Posts: 145
Joined: Mon Jun 25, 2012 1:39 pm


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