Lux Investing

How do you invest money in stocks like what steps to take?

How do you invest money in stocks in what are the steps to take like how much money to start off with in who should I contact to talk about investing

Public Comments

1. stock broker, start with scottrade, for starters they are good
2. Before you invest in any security, the first investment you should make is in yourself, and the best investment you can make is by educating yourself. Start your education by learning why you should invest and the importance of being able to make your own decisions or how the pro’s make theirs. Here is some reading material that can get you started in the right direction, The first book you should read is Rich Dad Poor Dad by Robert Kiyosaki Then try some of these What Works on Wall Street by James O'Shaunessey Beating the Street by Peter Lynch One Up on Wall Street by Peter Lynch The Warren Buffett Way by Robert Hagstrom How to Make Money in Stocks” and 24 Essential Lessons for Investment Success both by William O’Neil Get into the habit of making daily visits to some websites like MSN Money and Yahoo Finance. (http://moneycentral.msn.com/home.asp http://finance.yahoo.com/ ) While at MSN following the strategy lab analysts to get a feel for what the pros are doing and why. This site has some basic information for beginners. If any site offers free information, take it. Other website that can provide instructions and help with procedures and terminology are Investopedia - http://www.investopedia.com/ Stock Charts - http://stockcharts.com/ http://www.investorshub.com/ http://www.1source4stocks.com/ good luck
3. There is no set minimum amount of money needed to start investing. Yes, many broker firms have minimum deposits, but there are some out there that do not have any minimum requirements at all. I currently use Firstrade and they do not require any minimum deposits. However, I do think that you need some amount of cash or else your commission costs will be eating away your profits. On the other hand, knowing that you are a first-time investor, I would discourage you from investing too much money to avoid great losses. Test the water. Gain some experience before jumping in. To start investing, pick an online brokerage firm and contact them. If you want to learn more about Firstrade, you can visit their website: http://www.firstrade.com/.
4. Do your research. Understand the companies you are investing in. Annual SEC filings (10K and 20F) are the most comprehensive source of information. Full length filings can be found at: www.sec.gov Simple to read and easy to understand summaries can be found at: http://secnotes.talkspot.com