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Home >> Stock Forums >> Beginner Seeking Stock Investment Help?

Beginner Seeking Stock Investment Help?

Hex said: "I'm sort of new to the concept of stock investing and very eager to start trying. I toke a stock investment workshop once, but am a bit confused where to start? I was recommended by one of the instructors to start a brokerage account, but am a bit confused of what's the actual purpose of one? And what are the requirements of having one? I myself am an 18 year currently unemployed student, finishing my last semester in high school, and considering starting at a young age as a great advantage."

chahinemm said: "Welcome hex first i congratulate u to think about future at such an age... Ill try to guide you through the process as accurately as i can... First u need as ur professor said a brokerage account... A brokerage account is like the person u tell that u want to buy or sell stock X or stock Y. in the account u add money so its available... After u have ur account setup u can look into stocks. there are varrying levels ther are the cheap ones (i don't advise for they are dangerous) and there are the ones that have some quality or value attached to them. usually if u can get early u could result in some good profit... But before investing i suggest you to go through some finance sites like yahoo finance or reuters and fool.com for some advise in terms of strategies that are exisiting... and learn them... one and only advise from my experience that i give and will keep on giving is do your own research don't listen to any1... good luck and pls if u need more clarification or more questions pop in your mind don't hesitate a bit to ask for i was myself (and every1 in this community ) through ur shoes and i know how confusing it is sometimes... asking question is the key to succeeding... i hope this helps... chahine"

Yoshimi said: "Put all your money in GPGP and you'll be golden."

Yoshimi said: "oops, im sorry, i meant GPGI, not GPGP... yea put all your money in GPGI and youll be set"

Hex said: "Thanks for the advice, I have started doing extensive research over the past couple of days on different topics spanning from various security investments to building a successful portfolio. I have used [url]http://www.investopedia.com[/url] for my research and believe that the site itself is very easy to use and gets right to the point. I have a couple of question which I’m still confused about : [B]1.) [/B] When I open a brokerage account at a bank do I need a discount-broker or can I manage it as an individual? [B]2.)[/B] How do I start investing in an automatic payment plan? Is there any requirements to start one? [B]3.) [/B] On another forum I was told to open an IRA account instead of a brokerage, what is the difference?. [B]4.)[/B] What is a top rated, no load mutual fund?"

misterjover said: "[QUOTE=Hex]Thanks for the advice, I have started doing extensive research over the past couple of days on different topics spanning from various security investments to building a successful portfolio. I have used [url]http://www.investopedia.com[/url] for my research and believe that the site itself is very easy to use and gets right to the point. I have a couple of question which I’m still confused about : [B]1.) [/B] When I open a brokerage account at a bank do I need a discount-broker or can I manage it as an individual? [B]2.)[/B] How do I start investing in an automatic payment plan? Is there any requirements to start one? [B]3.) [/B] On another forum I was told to open an IRA account instead of a brokerage, what is the difference?. [B]4.)[/B] What is a top rated, no load mutual fund?[/QUOTE] 1) A discount broker lets you manage it yourself. That's why it's a discount broker. Having a broker manage it is usually either more costly or it requires a larger deposit. 2) It varies by broker, but the smallest amount I've seen is about $50 a month with sharebuilder for $4 a trade. 3) An IRA is a tax-deferred account where you can deposit up to $4k a year, and it's with pre-tax dollars. A regular broker account is set up usually with after-tax dollars. 4) IDEX funds have a variety of great no-load funds. If you are investing for the long haul such as 20 years or so, front end loads are actually less costly than no-load funds because the front end loads don't charge administrative fees as high as no-load funds."