How do i start investing in stocks?
I want to start investing in stocks, but i have no idea how to. I heard its good money, but i don’t understand where i need to go to start trading stocks, and how old does one have to be to make an account for investing in stocks. Also could you explain to me what a mutual fund is and the basics of investing in stocks? Thank You.
To invest in stocks all you need to do is:
a) Be 18 (if under 18 then you need your parents to cosign)
b) Talk to a stock broker to invest your money
c) Have money to invest
And that’s it, but that doesn’t mean you will make money in the stock market. In this case I will assume you want to make money so there are extra steps that need to be taken.
To make money from stocks you need to:
a) Find a company that is either starting out or is in an economic slump
-the stock prices should be low at that time
-a good example is Ford way back during the economic crisis and stocks were under $2
b) Research the company
-who is the ceo?
-does the ceo have experience with running a business?
-how good is the companies business plan?
-will the company thrive or go under?
-these are some good questions to ask. When I bought my Ford stock, I knew the government wasn’t going to let Ford go out of business and I researched and saw that the new ceo that was put in charge was put in situations like this before and saved companies from going out of business.
c) Decide how much you will invest
-how much can you afford to lose?
-how strongly do you believe in the company?
d) Talk to a stock broker
-fees will be charged with investing in stocks
-the lower the fees, the more you can invest
e) Watch the stock market and check your stock price every day
-when you buy at a low price, you can sell at a high price for bigger profits
-don’t gamble for the jackpot! earlier this year, I could have sold my Ford stock for $18 share making a big profit considering i bought the stock at $2 a share and invested $1,000 for 500 shares. I was going to wait for it to hit $20 a share but it dropped quickly to $14 a share and now it is less than $10 because of the crisis in Europe and the amount of Ford cars sold there dropped.
f) If everything was done correctly, talk to your stock broker to withdraw your money into your savings account.
-this is where you make your money
g) If things look like they are headed in a bad direction and your company might go out of business, talk to your stock broker quick and with draw your money before you lose all of it!
-when things settle out at a lower price you can re-invest if you think the company might recover.
Here is a good link on mutual funds http://en.wikipedia.org/wiki/Mutual_fund
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