Before you or any one invest $0.01 in the market you must know what you're doing, why you're doing it, how to do it and the rules that govern what you're doing and you're not there yet.
I started investing at the age of 11 and by was trading by the time I got to high school BUT, I spent a lot of time studying no only the markets but the products traded in those markets including the rules governing the markets. At that time my father had to open a custodian account for me, and he had to enter all transactions in the account for me - and this has not changed
As the other responders have told you - to be successful in the market you NEVER listen to or believe people that brag what they have done in the market. As the old sage "I like Turtles" so elequently told you -"your friend's full of sh__.
You can have your parent open an online account for you, but you need $2000 or more to put into it. If you follow the market you know that it went up about 30% last year so almost everyone in the market made money, but the average is much less than that so you can not expect to do as well as your friend if you invest now
http://visualizingeconomics.com/blog/201...
I don't know the age laws in US but UK age 16 you just open an account, check out the legal position because both UK and USA you are dealing with Contract Law, so it might be you have to wait until 18.
However if it is day trading that you are looking at, forget it, you only hear about those who have been lucky, and also for the past few years the market has been rising steadily so the numbers being lucky has rocketed as soon as it reverts to the norm of up and down day traders lose money, the people who make money are the dealing houses, not vast amounts but a steady income.
If you want to make BIG money with shares then look at long term (5 years minimum 10 to 15 years is better) it is how Warren Buffett made his do$h, and he avoids anything like day trading like the plague.
http://www.pennywisemoney.co.uk/economic...
You can make short terms gains by watching specific shares, where you know what is happening with that sector of the market, and you spot a share that the big boys have missed, but they are far and few between, if you can find 4 or 5 a year you are beating the odds and back to gambling, which is all day trading is.
I would want to know the details of this kid's gains. I think he's full of sh*t myself. One thing you need to learn if you want to invest is not to listen to people's bragging about their earnings. Investors remind me of gamblers, they always want to talk about the night they hit it big, but never mention the 10 nights before when they lost money.
My girlfriends brother and I are the same age, 16. He was talking to her and I today about how he made $400.00 by buying and selling stocks. That $400.00 plus the 300.00 in his bank account makes $700.00. Being a teenager with no job or money, the idea of being able to make $400 dollars extra cash aroused my interest in the stock market once again. I've been interested in the stock market since mid 2013. I gave up on my interest because I figured because of my age I couldn't be involved in buying/selling stocks. Apparently its possible. How would I go about getting involved? What steps do I take? Any advice would be much appreciated.
