Questions about going into the Stock Market as a teen?

Question

Hey,

I'm 14 and i'm interested in business a lot.

So I want to kind of get a feel of business by entering the Stock Market. I don't want to invest a lot of money because well i'm only 14. But in school I have learned a lot about the Stock Market. And I really want to manage a few stocks.

So I need to know what the best site for me would be?

And do I need a parent to co-sign my account?

Thanks a lot!

Answer 1

Too young for stocks

start with free stuff:

www.investopedia.com

www.clickcharts.com

or follow a professional:

www.dowteq.com

Answer 2

Wow!  You are only 14 and had been thinking about the stock market.  For starters, try wallstreetsurvivor.com.  You can actually play like a stock trader.  This will help you a lot to learn more about stocks.  All you need to do is sign-up.  There a lot of helpful tools on this site.  There are news, stock quotes, charts and advices.  Try it out first.

Read books like:

1.  Rich Dad Poor Dad

2.  Who Moved My Cheese?

These books will give you insights to financial freedom.

Oh yeah, check out coattailinvestor.com where you can view famous investors' investment portfolios.  Just click "no" to online offers.

Hope this helps!

Answer 3

There's a few things you should be aware of.  You are more than likely under the age of majority for securities in your state, so you will probably have to settle for either a custodial account (which will be managed officially by your parents until you are a certain age).  At 14, you are eligible to open an IRA if and only if you have earned income, which is likely going to mean proof of employment and a W-2.  Unfortunately, these are your only two options until you reach the age of majority.  I want to be a trader and just turned 18 (exactly the age of majority in MD!), so believe me, I know.

Otherwise, your best options are to simply begin learning and manage a paper account.  As for learning, I suggest you begin at investopedia.com and my site, http://www.stockmarketresources.blogspot... , which simply gives a list of market resources that are good for education.  Best of luck.  My site also has a section on custodial accounts, so that may help you.  Good luck.

Answer 4

Hi;

The stock market is more like gambling than business.  While you may be entertained, its not really (IMHO) a very good way to understand business.

OTOH to do well in the market long-term, you have to understand the business model, management and various competitive influences, so it might be not worthless.

The future belongs to the entrepreneurs, the risk takers who not only have a clear vision of how to create and sell value but also understand how to motivate others to build a team to get the job done.  Stock speculation is to business as video games are to professional sports.

You're better off going out and finding out how to provide value yourself rather than to "pick the winners" second hand.

You'll learn a lot more doing it yourself rather than throwing money around.  Don't get me wrong, playing the stocks can make you money and business is about making money - but there are better ways to learn how to "get a feel for business" than throwing your money at stocks.

Answer 5

best way to get started is to do it with a pretend account.

Start with a certain sum of pretend $$$, then each day, as you buy and sell, record your transactions.

At the end of the month, total up and see how you did.

When you finally know WHY and WHAT you are buying and Selling, then, and only then, is it time to consider using real money.

Do you know how to read the financial statements of public companies?  Do you know about TA and FA?

Make sure you get yourself an education before doing anything.  the internet has plenty of material.