How should I go about getting started on the stock market?

Question

Tips?

Answer 1

The last thing you need right now are "tips" on stocks but here is my tip for you to get you started in the right direction.

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.

Here is some reading material that can get you started in the right direction, The first book you should read is Rich Dad Poor Dad by Robert Kiyosaki

Then try some of these

What Works on Wall Street by James O'Shaunessey

Beating the Street by Peter Lynch

One Up on Wall Street by Peter Lynch

The Warren Buffett Way by Robert Hagstrom

How to Make Money in Stocks” and 24 Essential Lessons for Investment Success both by  William O’Neil

Get into the habit of making daily visits to some websites like MSN Money and Yahoo Finance.  (http://moneycentral.msn.com/home.asp http://finance.yahoo.com/ )

While at MSN following the strategy lab analysts to get a feel for what the pros are doing and why.  This site has some basic information for beginners. If any site offers free information, take it.

Other website that can provide instructions and help with procedures and terminology are

Investopedia - http://www.investopedia.com/  Stock Charts - http://stockcharts.com/

http://www.investorshub.com/  http://www.1source4stocks.com/

Answer 2

I recommend an online brokerage firm that has good beginner qualitys {like tutorials or an easy to understand set up}, i use zecco, better then schwab, etrade, etc. they are the only ones with free stock trades, no minumums..all the others will charge you fees for trading, but compare and see for yourself. Good luck and happy investing!

http://friends.zecco.com/r/a7a2877caab81...

Answer 3

realizing that it's basically a rigged card game would be your first step.

maybe read "Wall Street: the other Las vegas" by Nicolas Darvas.

Answer 4

Hey Girly,

First, congrats on starting your investing career! I think you should start by studying discount brokerages (you'll need a place to trade) and strategies (choose one that is in-line with you think your investing style will be and your risk tolerance). Most beginners are pretty aggressive, and there's nothing wrong with that as long as you choose a strategy with long-term potential.

To choose a brokerage, I would start at http://www.money-and-investing.com/Onlin... You can read detailed reviews on 11 major brokerages. I'd suggest Scottrade since they have some nice trading tools, great prices and cater to beginners.

To choose an investing strategy, start at http://www.money-and-investing.com/Stock...   This is an introduction to 8 of today's most popular investing strategies. You'll get to learn  the major goals, investment selection methods, strengths, weaknesses, risks, and long-term outlook for each.

Good luck to you, Girly, and post back here often so we can watch your progress! It's fun to watch someone on their wealth-building journey.

Cheers,

Odd Lot

Answer 5

study more dude!

Answer 6

Find a really good broker. I lost thousands by listening to friends, getting hyped up thinking I was going to make a ton of money. I invested over 60k in serius and looked what happened. Find a broker!

Answer 7

Get an account at TD Ameritrade immediately and read, read, read stuff about how to invest.  Reading stuff about Buffett will make you rich.  A good book by his daughter in law called Buffettology is a great book.  Also go to the Berkshire Hathaway annual letters to shareholders and soak up those nuggets of wisdom.  There's no better time to invest in stocks than when they are down.  Now is that time.

Answer 8

Get the book the Wealthy Barber by David Chilton.  The basic idea is that you choose a good mutual fund or some stocks you really believe in that are safe companies that have been around for a long time.  Invest the same amount of money at regular intervals.  This way you will be buying the most shares at the lowest price and the least shares at a higher price.  Stocks follow a cycle going up and down.  A quality stock may go up and down, but in the long run (10 years) they always go up.   Buy stocks of things you believe in.  It is best to get stocks in different areas (diversify) so that one event won't affect all your stocks.  You can buy your stocks online.  Charles Schwab is a good company to manage your stocks.