Want to get into stocks.. whats the best way?

Question

want to get into stocks. i was thinking of doing online stock trading. whats the best website to do that at and what are some fees i should acknowledge? etrade perhaps? also would appreciate any tips!

help a young guy out. thanks

Answer 1

The following article will be of much help to you:

http://ezinearticles.com/?How-To-Invest-...

For me its SogoTrade.

They offer cheap stock trading at $1.50 - $3.00.

Some of the features this brokerage offers:

1. $1.50 - $3.00 Online Equity Trades

2. Fast Order Execution

3. Excellent Customer Service

4. Scheduled Investments and Fractional Shares

5. 3 Great Trading Platforms: SogoTrade, SogoElite, Laser

6. Enhanced Online Security and SIPC Protection

7. Powerful Trading Technology

8. No Account Inactivity or Account Maintenance Fees

9. Free Dividend Reinvestments Service

10. Complementary Stock News and Stock Charts

Answer 2

Start slowly. Read as much as you can (there are a ton of good books on investing and Mutual Funds).

I'd suggest starting with stock mutual funds. In a couple of years start slowly with ETF's and stocks.

ETrade is OK. Charles Schwab and Fidelity are better places for a new stock trader (better support). What ever you do..... don't get into stocks under $10 until you've got years of experience.

With stocks.... always have an exit plan before taking a position. Understand money management (stops, limit orders, buy stops, position sizing, risk & win/loss ratios).

Don;t get into this like it's a good gamble.  You may have a few great "winners", but unless you're very skilled.... your losers will overshadow your winners.

Answer 3

I currently use Firstrade http://www.firstrade.com/.  Their fees are much lower than those from big name brokers like ETrade, Schwab, TD Ameritrade.  They have a similar pricing structure as Scottrade, but they are slightly cheaper.  Firstrade has no maintenance fees, no inactivity fees, and no hidden fees whatsoever.  There are also no account minimums, so you don't have to worry about risking a lot of money when you get into stocks for the first time.  Firstrade also has a very easy-to-use website, suitable for beginner investors.  I would definitely recommend them and you should definitely check them out.

Answer 4

First of all, making money in stock market is one of the hardest things to do. For some its a lifetime learning experience, for others its luck, and for the rest its failure.

If you're new to stocks, the BEST investment you can do right now is to learn, learn and learn. Especially since you're young and have decades to benefit from your learning.  Here are my recommended readings:

1. "The Intelligent Investor" by Benjamin Graham

2. "The Four Pillars of Investing" by William Bernstein

3.  your favorite book on economics

This should be the minimum reading before you consider opening an account at some broker like etrade.

Best!