Stock Questions

[ChuckMoney]

I was thinking of starting to invest into some stocks, but I don't have a clue where to start. Now before I start throwing money around I wanted to learn about the market and what certain terms mean when I see them.

 

I am going to do my own research, but wanted to know if any of you guys knew of a good book, I could read to get me started "Investing Stocks For Dummies" or had any tips for a rookie like myself.

 

I am serious about this and really want to do it just need a lil help getting started.

 

Thanks!

[[-VR-] Tool_Minion]

[opK PhAnToM_PhRaG]

Just start with a etrade account or whatever site you feel the best with and trade penny stocks until you get the hang of it then you can venture out with bigger investments.

[Chili327]

Or.. there used to be a "Fantasy Stocks" on Yahoo. you can use fake money in a real market.

 

*edit*

 

Yahoo doesn't do it anymore, but there are plenty online still.

 

- http://www.wallstreetsurvivor.com

- http://www.howthemarketworks.com

- http://simulator.investopedia.com

- http://www.zoodak.com

- http://www.updown.com/fantasy-stock-market

- http://www.smartstocks.com

[[SoW] Lucky_Saint-]

most community college offer seminars on investing not the crap ones that they have in vegas but really give you the info you need they cost about 50-70 and run for 2-3 weeks

[[<+>] mic--]

I good idea is to invest in things that you like. Chances are you aren't the only person who buys those products.

If you want to gamble a little, you can invest in PPO's...i think thats the correct abbreviation. Those are new companies just starting to offer stocks so your able to get in on the ground floor, kinda.

[RNG187]

are you looking to do this seriously as a career type of thing, or just to make some quick money? name here made a SOLID suggestion, taking some classes on it would give you a good idea of things and i'm sure the professor could give you some personal tips. chili's idea of using monopoly money is also a great one. i personally suggest the monopoly money idea, doing that and taking classes at a local college...you'd be prepared.

[lX-OSCEOLA-Xl]

Penny stocks are a scam, DO NOT get involved in that mess

[opK PhAnToM_PhRaG]

Yeah penny stocks aren't the best but if your looking into getting into trading and don't know alot about it....it's a good place just to get your feet wet. Your not going to make any money off of them for sure but if you don't go overboard on them you won't lose but a couple bucks. Just find a online trading site that offers so many free trades for a new account and a bonus for signing up. It's just a way to get familier with the market and the way everything works.

[lX-OSCEOLA-Xl]

penny stocks are a scam, if you want to lose your money go ahead and try them out. Most companies that trade on the pink sheets and bulletin board do not have anytype of business operation. Insiders sell stock to people like you and get rich. They pay to have their stocks promoted on various website, these payments are ofen in stock. These companies trade at pennies for a reason.

 

If you have some decent coin, go talk with a financial adviosr and they will get you on a plan so that you can retire one day when you get older. Open a roth IRA with any money you want to play with. Buy yourself some shares of Google or something like that and in 20 years you will have a nice nest egg.

 

I am a stock trader for a large brokerage firm and have seen the fraud mentioned above many times.

 

Here is a great link from the SEC regarding micro cap stocks

http://www.sec.gov/investor/pubs/microcapstock.htm

[opK PhAnToM_PhRaG]

Alright I won't argue the point that their are alot of scams out there but with a little commen sense and research it can be avoided. This is the last I will talk about it so I don't upset the big shot broker ;D

[SOTG Savage]

Not EVERY Penny Stock is a scam but if you dont do your research, you will get scammed, plain and simple. I am involved in Penny stocks and am up about a grand soooooooo, I wouldnt say they all are scams, you just need to find ones that are legit medical stocks, like CBAI.

[CDBS14]

i trade in penny stocks and i make money out of them, so they are not scams, it all depends how you get your info for trading on them, for example if you go to random sites online that have "pick of the month" or "pick of the week" or daily newsletters for penny stocks, those are usually bad, your best bet is to go and search the market yourself for penny stock companies that are either seasonal or you just have a feeling.

 

I recently made money from a few penny stocks, made close to 2 grand combined from all of them (my parents gave me a 500 dollar starting budget) so im not doing bad for being just a starter.

 

But be careful too, i lost money a few weeks ago trading on penny stocks as well, it is all in timing, the stock, and your own intuition. So best of luck if you going to get into trading, i suggest you start out with small amounts of money and get used to both the ups and downs of the stock market and the website you are using; i personally suggest scottrade, thats the one i use.

[lX-OSCEOLA-Xl]

CDBS14 ]

...your best bet is to go and search the market yourself for penny stock companies that are either seasonal or you just have a feeling.

 

 

I restate my previous post.

 

 

Penny stocks are not a good place "to get your feet wet."

 

 

If you are a long way to retirement, save a few hundred dollars a month in a ROTH IRA. Even $100 a month is good if you are young. If you do it right, by the time you are ready to retire the money you make in the Roth IRA can be withdrawn tax free.

 

My last post in this thread.