Okay, so right off the bat, i’m not trying to make millions upon millions of dollars right now. To be honest, i’m just trying to make some extra pocket cash just for everyday life. i mean i’m not talking penny’s, but i’m not talking billions either. So, i’m 20 years old, in college, and i figure i try to get involved in the stock market just to try to make some money. I don’t know alllll that much about the system but i know enough. i don’t have much money to my name so i don’t even know where or how to begin. i figure online sites would be more for me but i cant exactly put down hundreds or thousands of dollars initially to open an account. i’m just trying to buy a few shares of some stocks and hope to get lucky and grab some extra cash. not interested in loosing hundreds upon hundreds of dollars or making all that much. i’m realistic about what i want, sorta a low risk low reward situation to try to grab some extra cash. i just don’t know where or how to get started… any advice?
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Wayne C 10th March 2010
Here is how to start. Google (or should I say Yahoo!) the term "Discount Brokers." You will find a bunch. Etrade, TDAmeritrade, etc. Look at their sites. See which one "fits" you. You should have at least $2,000 and open, online, a Cash account. Opening an account is easy . . . lots of help online. Look at their research tools and go exploring . . . . Take $50.00 of your seed capital and go to http://www.Amazon.com and check out the business investing books and see what you like, and read the book reviews. Buy a couple. Also, get a subscription to the Wall Street Journal. If you are in college, you can get a huge student discount. Don’t be too quick to invest. Spend lots of time learning about what you are doing. What to invest in? . . . . In the next 10-20 years "Green Energy," "Clean Coal Technologies," Grid building, infrastructure building, smart energy instrumentation, are all going to be good areas. Good luck! and profitable Investing!
scotte 10th March 2010
hey man, you need have an account first-and then pick and choose as you wish/ i normally bet against the market,set my caps both entry-exit so i don’t lose to much money
John S 10th March 2010
Given that you don’t have a ton to invest (yet) and aren’t that knowledgeable (yet) you might want to look into an ETF such as SPY (it’s basically an index fund that will track whatever the S&P500 does). Aside from that you can set up a model portfolio and track some stocks overtime without the risk of losing money from not knowing what you’re doing. Follow the news on the stocks, read their quarterly reports, see what moves them up and down over time. This is probably your best bet at this point. Also, you probably should not be investing in stocks in order to make extra spending money since the stock market is volitatle and there is a good chance you will be down at some point. If you are looking for a little extra cash perhaps you should look into bonds or CDs.
Best Returns 10th March 2010
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