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Investing & Financing: I Want To Invest!

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      CommentAuthorDouble_S
    • CommentTimeJul 8th 2006 edited
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    hey guys... im 17 years old... and i want to invest in the stock market... is it possible to get started online? if yes where do i go?

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      CommentAuthoralex
    • CommentTimeJul 8th 2006 edited
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    I dont know to much about the stock market, only that my mom accidentally made alot of money on it.

    Can anyone provide Double_S and I with a good tutorial or instructional website.

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      CommentAuthorJason G
    • CommentTimeJul 8th 2006 edited
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    Double, there are numerous places you can trade stocks online. However, I would recommend getting into forum that will provide you with the necessary knowledge to research these stocks. Playing in the start market is similar to Vegas you put 2-10K on the table and pray, but if you have your analysis/research and know when to buy and sell a great deal of money can be made.

    My suggestion:

    Find a great trader forum and learn from those guys, how they research each individual stock.

    This might contradict what I said previously, but I’m going to say it anyway, stay way from day trading until you feel competent to buy and sell stocks each day. I’m only suggesting receiving the knowledge of how each day trader uses a formula to acquire each stock for that day.

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      CommentAuthorDouble_S
    • CommentTimeJul 9th 2006 edited
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    thanks for the advice boss... what are some of those sites?

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      CommentAuthorJason G
    • CommentTimeJul 9th 2006 edited
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    Double,

    I found numerous forums, but the one I pay close attention is http://www.elitetrader.com/vb/

    Good luck.

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      CommentAuthorKMulligan
    • CommentTimeJul 10th 2006 edited
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    Mutual funds. Mutual funds. Mutual funds. Mutual funds.

    At your age... mutual funds. You don't have the experience or knowledge to trade individual stocks. Unless you just had thousands of dollars land in your lap, you won't be able to have a significant position in any of them either.

    Go to Morningstar.com, money.cnn.com, etc. and do research on mutual funds. Find a high quality fund (Selected American - SLASX has high quality management). Invest some dollars there. Build a diversified portfolio -- Large Value/Blend/Growth, perhaps a fund that targets small company stocks, then one that targets international, and then a bond fund. Largest % should be in the large company stocks.

    My Personal Finance Blog
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      CommentAuthoralex
    • CommentTimeJul 10th 2006 edited
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    Thanks Kevin, thats really good advice!

    Question: We are located in Canada, can we still buy American mutual funds?

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      CommentAuthorKMulligan
    • CommentTimeJul 10th 2006 edited
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    Alex... good question. Try Googling it, or Investopedia.com

    At a young age, I would go as far as saying 100% of your positions should be in stocks. Others would say 85-90%.

    My Personal Finance Blog
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      CommentAuthorDouble_S
    • CommentTimeJul 11th 2006 edited
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    thanks for all the info!

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      CommentAuthorJason G
    • CommentTimeJul 11th 2006 edited
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    Good luck.

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