Buying stocks for the first time?

Question

How is it done?

Answer 1

Best way seeing as yer comp literate is to set up account with Etrade, Tradefreedom, etc. Tradefreedom requires a minimum $1000 in yer account. Takes bout 2 weeks to set up. All trades done online by you 24/7. Ten bucks per purchase, no charge to sell. Banks etc. will hit u with 3% fee and do nothing special. Email me if u want more info. I deal in the online method.

Answer 2

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Answer 3

Hi Mel,

Congrats on your growth in finance! Making investments is a great step. I will answer your question in 2 parts.

1. There are a lot of ways to buy stock!

A.  Your banker can do it for you with you opening up a brokerage account. (High fees involved)

B.  You can buy into a mutual fund who combines your money with others to buy stock on a large scale.  (No control over what stock is purchased/sold or the specific movement of your money)

C.  You can join an investment club.  (Usually involves a high buy in price with a specific time that you must remain a member)

D.   You can get an account with one of the on-line market companies and buy/sell at will for a nominal fee per trade.   (Be sure to choose one that matches your trading style: few trades per month, lots of trades per month or somewhere in between)

2. The question- How is it done? suggests that you have little knowledge of the market process. That is not a put down. While the desire to invest is commendable, to do so without educating yourself in the field is foolish and almost a guarantee for financial loss. Education is fast and easy if you are willing to do a little reading.

A.  Get a financial publication (Wallstreet Journal, Motley Fool, ect.) be it online or hard copy- read about the market on a regular basis. look up the terms and phrases that you don't understand.

B.   Watch the market- online at yahoo finance is a great free site.

C.   Pick a few companies that you like- base you liking them on their quarterly performance over the last several quarters.  (this info is available by clicking the company and looking for the performance tab.

D.   On paper, buy shares in that company (comparable to what you would buy in reality) and watch it for 30-90 days. If it does well for you, go ahead and buy.

E.   Remember that stocks involve some risk of loss, as a result, you should NOT buy more than you are prepared to lose.

Good Luck

Answer 4

Both previous answers are good starting points. You should find a free site that offers educational material with step by step theories. I like to research on informedtrades.com it's free and they offer hundreds of video's on different types of plays. The best advice I can give you is to never invest more than you can afford to lose and be mentally prepared to lose money from time to time.

Answer 5

Open an online brokerage account. I like scottrade.com but there are others. You can then buy and sell stocks - you pay a fee per trade, scottrade charges $7 to buy and $7 to sell. A good place to do research is finance.google.com - you can enter a stock symbol and get info. Good luck!