Begin 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.
To continue your education select some of the following
Beating the Street by Peter Lynch
From Riches to Rags, by I.C. Freeley
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.investopedia.com/ http://www.investorshub.com/ and 1 Source for Stocks - http://www.1source4stocks.com/info/stock... or Smart Money
http://www.smartmoney.com/
Visit some of the more professional websites like Zacks Research - http://www.zacks.com/ Schaeffer’s http://www.schaeffersresearch.com/ Investors Business Daily - http://www.investors.com/default.htm?fro...
Some of these web sites will have advertisers who are worth looking into also. And remember, if they offer free information, get it.
And when you think you want to invest/trade, try some paper trading to test your skills without spending you money http://simulatorinvestopedia.com/ 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 your journey, study hard and you’ll invest well.
If you are serious about it, I recommend investing in your own education before you start trading. Read, read and read....There are good tutorial videos on E-trade once you set up an account.
Decide if you are a trader or investor - Do you want to aquire an ever increasing share of ownership in a company or gruop of companies (investor) or do you want to buy stock and sell it at a higher price (trader).
Both have advantages, but very different strategies.
Also, make a plan for your trade (what price you want to get in, and by what time and what price you want to sell) and trade according to your plan.
In the beginning, its easy to get emotionally tied to the stocks and hold on to something that is going down. Just sell it and move on the next winning trade. Everyone hits a loser every now and then. Don't focus on the losses, get out and focus on the potential of your next trade.
Any suggestion you get from strangers on the internet will be in their best interests, not in yours.
Banks are notorious for steering suckers into poor performing mutual funds, because that also is in their own best interest (they get comissions).
Single investors should not be buying individual stocks unless they can sit all day and follow the news, the industry and the stock.
Go to Morningstar.com and research for the strongest mutual funds with a LONG TERM performance record. (Anybody can be best for one year.)
T. Rowe Price New Horizons - 12.7% per year for 10 years.
Primecap Odyssey Agressive Growth.
Fidelity OTC.
Hi all,
I finally have enough saved to invest in stocks - previously, I'd been working with my bank on a mutual fund and their performance has been nothing short of terrible.
I'm only in my 20s, so I'd like a bit of a say in how it's invested - obviously, more aggressively for higher returns. Unfortunately I have no idea how to get started.
Where should I go to set up a portfolio? Is a local company best, or is something like etrade good?
Any suggestions would be great!
