From the get-go I can already recommend not trading penny stocks. This is the #1 killer of newbie portfolios; people think they can get rich overnight via penny stocks. I can assure you this is not the case - you have just about the same chance of hitting the jackpot at a casino.
Instead, you want to learn basic accounting, finance, and market psychology principles. Understanding how the market works, and why people act the way they do, will give you an immeasurable advantage over others.
As for book recommendations - I usually recommend "Financial Intelligence: A Manager's Guide to Knowing What the Numbers Really Mean" for accounting/finance basics; and "Warren Buffett 3 Favorite Books" for fundamental trading basics.
Hope this helps - good luck!
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Many new investors are lured to the appeal of a penny stock due to the low price and potential for rapid growth which may be as high as several hundred percent in a few days.
Similarly, severe loss can occur and many penny stocks lose all of their value in the long term.
Accordingly, the SEC warns that penny stocks are high risk investments and new investors should be aware of the risks involved but you can even make very big money. These risks include limited liquidity, lack of financial reporting, and fraud. A penny stock is a common stock that trades for less than $5 a share. While penny stocks generally are quoted over-the-counter, such as on the OTC Bulletin Board or in the Pink Sheets, they may also trade on securities exchanges, including foreign securities exchanges. In addition, penny stocks include the securities of certain private companies with no active trading market. Although a penny stock is said to be "thinly traded," share volumes traded daily can be in the hundreds of millions for a sub-penny stock. Legitimate information on penny stock companies can be difficult to find and a stock can be easily manipulated.
First get yourself a ROTH IRA account for your retirement as well as a 401K through your employer. Never leave free money on the table while working. Retirement savings is so important. You can go to vanguard, troweprice or fidelity. Do not invest through a bank due to lower return fees and high third party fees. Time is money and I am happy that you decided to take control of your future by investing. You have 45 yrs of compound interest which is a beautiful thing. While investing, do not focus on short term market news, invest long term though dollar cost average and you will be alright.
Best of luck and Take Care
If a person has no knowldge and skills about Forex then it will be very difficult to trade in Forex. But if you use the right software you can make very good profit. The best software is called "autobinary signal". If you aren't a big expert this software is the only way to earn good money in Forex.
I like the Complete Idiot's Guide to Stocks. Remember, investing is like chemistry, many different branches and schools of thought, etc. Find a web site you like, motelyfool, seekingalpha, cnbc, the street, etc. Investepodia and Wikipedia are good for definitions. You can open a practice account on Investopedia. Watch Nightly Business Report on PBS. Stocktwits is a great investor community. Good luck.
If you want to earn money with binary trading and you aren't a big expert you definitely need some kind of support. I use a software called "autobinary signals" and I earning good money with it. Here you can find all the details and also some video proofs: http://tradingsignal.toptips.org
Shares Made Simple
I am 20 years old. I know absolutely nothing about stocks but I want to start investing. I don't know what stocks would be best for me such as penny stocks or anything else. I don't even know what penny stocks are. I do have the money to begin however.
I need a book that will teach the basic terminology, and where to start. What's best for me, what stocks I should do. Should I trade. All of that.
Anyone recommend any easy to read informative books?
