I would like to start investing in stock?
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01-22-2013, 04:14 AM
Post: #3
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In North America you must be 18 to have a brokerage firm in your name. You will need a parent to open a custodian account for you using your social security numbe and when you turn 18 the assets in the account can be moved to an account in your name.
Unless you know what you're doing, why you're doing it, how to do it and the rules that govern what you're doing, you can not and will not make money. Before you spend $0.01 on any investment, you must know what you’re doing, why you’re doing it and how to do it. 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 When I was 11, my father opened a cuistodian account for me but I was made to learn about the markets and the products traded in those markets. Yes I made investments while in grade school but it took me several years before I felt comfortable with investing. It wasn't unitl I was in high school could I started to trade. 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. Start your education by reading “Investing or Dummies†by Eric Tyson. If you still want to invest you should select some of the following Beating the Street by Peter Lynch Bulls Make Money, Bears Make Money, Pigs Get Slaughtered, by Gallea How to Make Money in Stocks†by William O’Neil 24 Essential Lessons for Investment Success by William O’Neil The Intelligent Investor, by Benjamin Graham Common Stocks, Uncommon Profits, by Philip A. Fisher One Up on Wall Street by Peter Lynch Stocks for the Long Run, by Jeremy Siegel Uncover the Secret Hiding Places of Stock Market Profits by Joel Greenblatt. What Works on Wall Street by James O'Shaunessey You Can Be a Stock Market Genius by Joel Greenblatt Your Money and Your Brain by Jason Zweig Websites that can provide instructions and help with procedures and terminology are Investopedia - http://www.1source4stocks.com/info/stock...pinion.asp or Smart Money http://www.smartmoney.com/ Visit some of the more professional websites like Zacks Research - http://www.investors.com/default.htm?fromad=1 Some of these web sites will have advertisers who are worth looking into also. And remember, if they offer free information, get it. Attend all the free seminars you can, just be careful and don’t get pressured into anything you really don’t want or need. Most schools offer courses in finance and economics, but very few will have courses on the mechanics of the investment markets, if they do try taking the course. You may want to consider on-line courses, the New York Institute of Finance use to have such courses. Try to get some fee information from the stocks exchanges they all have (had) free booklets, SIAC and some of the regulators (FINRA SEC MSRB CBOE) may provide some free literature. And when you think you want to invest/trade, try some paper trading to test your skills without spending you money http://www.moneyworks4me.com/ and/or http://www.tradingsimulation.com/ You at least have made the right decision to start investing, this is the first big step and it won’t be your last. Keep taking those steps forward and along the way never take the advice from people that are not in the market or try to tell you not to invest. Good luck on journey, study hard and you’ll invest well. |
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Messages In This Thread |
I would like to start investing in stock? - Griffin - 01-22-2013, 04:06 AM
[] - A nobody - 01-22-2013 04:14 AM
[] - pegasusaig - 01-22-2013, 04:14 AM
[] - Arrogantairplane992 - 01-22-2013, 04:14 AM
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