I have kept aside some savings for the past couple of month and I'm interested in investing some of it into stocks. However, I don't know how to seeing as I've never bought stocks before so I seek the help and advice of clutchfans for this.
I use Scottrade. Pretty simple and has a ton of research tools. The trading fees are relatively cheap too. I'd recommend them...but they probably aren't all that different from the Etrades or Ameritrades of the world. Just make sure you use a reputable service and not some guy working from his garage.
Open up an account with at Fidelity or vanguard with some cheap, no load mutual funds. If you have to ask how to buy stocks, I take it you are not a sophisticated investor. Mutual funds will offer you instant diversification and prevent you from hurting yourself more than you have to. What dollar amount are you talking about?
The market is so artificially inflated, it is ridiculous. I wouldn't necessarily jump into the market right now. Just my opinion, but fundamentals mean nothing in this current market, which is scary
Options House has the cheapest rates and it's simple to use. You can use oanda to trade forex, spot silver, and spot gold with leverage.
This. Fidelity has a several offices in Houston if you need to talk to someone in person. As an alternative to mutual funds, you can buy ETFs which have the diversification of mutual funds but trade like stocks. ETFs allow you to start small (since most mutual funds require $2,000 or more to get started). A good ETF to start with is VTI - Vanguard Total Stock Market ETF
Read a book like "The Little Book That Beats the Market" You can easily finish it in a day, and it will explain stocks in a very basic way that should give you a good understanding of what they are all about. He also offers an investment strategy in the book which is very easy to follow and can get you started on investing.
read fool.com or investopedia.com to get some basic understanding of terminology. open a online brokerage account with low commissions such as zecco.com. I have a scottrade account but honestly i hate their interface and they charge almost twice as much as zecco for a transaction. i hope the money you've saved is money you're can live without. the only way you will really learn is not being afraid of losing it. research the companies you want to invest in. then when you're ready, buy them. it will be an emotional roller coaster once your vested, especially if you're watching them everyday. you will find it hard to sell when the stock is going up because you want MORE. eventually, it'll go down and you will wish you sold at the high point. then, you'll sell when it's going down only to have the stock shoot up 5% the next day. it's a learning experience. it's irrational. fear and greed are what drives the market. good luck.
Yeah, all the advice in this thread is great. Follow that, and you will know HOW to invest. Your timing, however, is probably not the best. This market is brutal for noobies. Fundamental trading has gone out the window. There are obvious low-risk choices you can make (such as investing in a total market ETF, or a mutual fund), and that would be my first word of advice to you. Either way, good luck brotha!
expect to lose money if you are a noob to investing. i agree with earlier advice...don't invest anything you can't stand to lose.
