Can anyone explain to me how do you get started? Please do not respond with the recommendation of 3 core stocks. I need to know what I need to do to make a purchase. What is the process?
Can anyone explain to me how do you get started? Please do not respond with the recommendation of 3 core stocks. I need to know what I need to do to make a purchase. What is the process? Well, here's good place to start. Did you read it?http://www.fool.com/how-to-invest/thirteen-steps/index.aspx?...Buying your first stock comes up in step 7. So there are several things to do before you get to that step... Also, some people would recommend one of these plans: (1) make your first investing purchase to be of a mutual fund (or ETF) rather than a stock; this is mainly for instant diversification; (2) start trading on paper first; keep track of your gains and losses for a while -- maybe a few months and then start with actual securities (step 7). It's OK to go slow. As a beginner, I was in too much of a hurry. Somebody (probably on this site) said to slow down, that the market will always be there when you're ready.Good luck!!
re: beginnerre: local libraryre: adult investing classes in your local community schoolsre: Discount broker/s ie.....TD Ameritrade, ScottradePlug12,Let's peruse the following sites and books to get yourself familiar with the jargon and process of buying a stock for biginners.http://www.wikihow.com/Buy-Stockshttp://www.wikihow.com/Decide-Whether-to-Buy-Stocks-or-Mutua...http://www.amazon.com/Journal-Complete-Investing-Guidebook-G...http://www.amazon.com/Street-Journal-Guide-Understanding-Inv...http://www.amazon.com/Standard-Poors-Guide-Money-Investing/d...http://www.dummies.com/how-to/content/stock-investing-for-du...Hope this can helpQuillnpenn -
Normally one opens a brokerage account puts in cash which is used to purchase shares of companies (equities), ETFs, or mutual funds. Often, it's a discount brokerage to which you deposit cash and you submit buy and sell orders online.There's a Discount Brokers discussion board where you can talk to other Fools about discount brokers. Personally, I use Scottrade, which offers $7 equity trades and no account minimums or maintenance fees. If you are interested, I can give you a referral which will give you a couple free trades to get you started.FuskieWho wishes you luck getting started with investing...
Thank you for your response to my question. Maybe I should have rephrased the question. What must you have in place first before you can make a purchase?
I don't know about you, but that didn't exactly answer my question....which I thought was your question, too.I need to know HOW to make a purchase. Do I have to pick a broker or establish an account with an online trader? Do you have any recommendations? what do I need to watch out for?
re: scottradere: hand holdingre: brokers do not except cash, must be a check deposited into your account.Plugs12,http://finviz.com/store/stock-brokers.ashx review the above list of discount brokers with minimum donations required to open an account.When making a purchase for the first time, use limited orders only. Same for when selling.http://www.investopedia.com/terms/l/limitorder.asp#axzz2CjSR... click on the video.http://www.investopedia.com/articles/basics/03/032103.asp#ax...http://www.investopedia.com/terms/g/gtc.asp#axzz2CjSRxoAB when buying the stock, check off the box GTC 'good 'til canceled" meaning....tell the broker to keep trying for a given amount of time until the deal is done and the stock has been bought or has been sold.If you need hand holding for the first time, I would recommend that you visit the office of a broker such as Scottrade and they will gladly walk you through the procedures step by step. Or ask a close friend or a family member for guidance in making your first purchase.Quillnpenn -
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