How to get started in the stock market?

[Chris]

Im 16 years old and am looking to make some money by investing in the stock market.
whats the best way to get started?
should i use etrade/zecco to do all my trading?

also, currently, what are the best stocks to buy?

[Judy]

You'll need a parent to open a discount brokerage account for you.
At your age you can not open an account - since they allow you to borrow on margin.

Beware... the market could double dip - easily.
Unemployment is the highest it's been since I've been alive.
Real unemployment could be over 20%.
I just don't see things moving up anywhere in the next year.
/

[A Nobody]

In North America you must be 18 to open a brokerage account in your name, this is federal and civil law.
You must get one of your parents/guardian to open a custodian account for you using your social security number. When you turn 18, the assets in the account can be moved to an account in your own name.

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.

Before you enter into any transaction, you should know what you are doing, why you are 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.

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,
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” by William O’Neil
24 Essential Lessons for Investment Success by William O’Neil

Get into the habit of making daily visits to some websites like MSN Money and Yahoo Finance. (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://stockcharts.com/
http://www.tradingstocksguide.com/trading-stocks/

Visit some of the more professional websites like Zacks - http://www.zacks.com/
Smart Money - http://www.schaeffersresearch.com/
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.

Judging b y the wording of your question, there's no way you are reading to invest in any security. You should not be concerned about what firm you should use or what stocks to buy but rather, make sure you know what you are doing, why your doing it and how to do it.

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 your journey

[Jake A]

Thats great. Tradeking is really cheap. It depends whether you want discount or full service broker. Discount does not mean its bad, just that you do it on your own. Full service is more expensive, but they make all the decisions for you. I would use a discount broker. But make sure you do your research or you could lose a lot of money.
while your just starting, stick to stocks only. stay away from futures and options, they are WAY to risky for a beginner. Good luck!

PS be careful about making too many transactions, that will quickly eat up your available funds. unless you have more than $1000 then you'll probably have to stick to $5 stocks in order to make a good profit. but be warned that those are riskier than other stocks.

[Free2Day]

Trading the Dow Index is another way of investing.

It's a lot easier to understand then to research individual stocks.

Hope this helps....