How do I get started investing in the stock market?

Question

Any good references?

Answer 1

To get started with investing in the stock market, you will need  to first acquire the required knowledge.  This can be done through books or online tutorials.  My favorite website is Investopedia ( http://www.investopedia.com/ ).

Next, you will need a stock broker to do your trading with.  Full-service brokers are expensive so I prefer an discount online broker.  However, I would not recommend using Scottrade.  I switched to Firstrade ( http://www.firstrade.com/ ) because I didn't like Scottrade since they did not offer dividend reinvestment (DRIPs).  Firstrade is also slightly cheaper than Scottrade.  I would definitely recommend that you check out Firstrade.

Answer 2

Start watching cnbc in the morning and listening to Jim Cramer's mad money in the afternoon. It will help you get a good understanding on how current events are affecting the economy. But remember, you can't time the market. The best way to build  your wealth is through diversification, e.i. mutual funds.

Answer 3

Try http://www.investopedia.com then click on Tutorials. They have a wealth of information there to help you get started.

Or try the Motley Fool at http://www.fool.com

(Keep in mind this website is directed mainly towards long-term investors)

Also, there is http://www.thismatter.com for a basic, but informative overview of several financial subjects.

Good luck!

Answer 4

no USE SCOTTRADE...http://www.scottrade.com online trading.

they are the best out there. $7 per trade w/ no hidden costs.

i have done my research and i can say that they are good.

if you open the account with this referral code "XFTL1502" - you will get 3 free trades.

select the "referred by friend" option while signing up, and enter that code.