New, Wanna Be Investor

watandrew said: "Can anyone help me. I am planning to start investing in the stock market. I wanted to know if anyone can give me any hints or ideas on what is the best way to start. I'm planning to invest approximately 20k. The reason for this is because I am tired of living the life i live and i know that there is a way through investing that i can move on up, and fast. Thank you..."

bigmike said: "First, you will have to take a couple of months to learn about the market and to create your own strategies. You create these strategies I recommend reading some investment books and articles from [URL="http://www.investopedia.com"]http://www.investopedia.com[/URL] and/or [URL="http://www.morningstar.com/Cover/Classroom.html?t1=163042"]http://www.morningstar.com/Cover/Classroom.html?t1=163042[/URL]. These are two good sources to start and will give you lots of information to understand what a stocks is, picking a broker, trading ideas etc. Also, once you begin to create a strategy the best way to practice it is through paper trading using a site like [URL="http://www.investopedia.com"]http://www.investopedia.com[/URL] to test adn refine the strategy that yuo came up with. After spending a few months to sometimes as much as a year learning and understanding how to trade and depict the actions of the makret is when you should begin to trade with real money. The reason for this is to make sure that you aren't losing money, especially in the market that we are in at this time. Also, it will take time for you to make a lot of money and you will lose money at the beginning and even when you get better at picking stocks. Thezster is a great example of this. Starting with 5k, his portfolio is now worth 500k but that was over 10+ years. (If I am correct from one of the posts he made earlier on). I will let everyone else correct or add anything else that I forgot, but this should get you started."

Rbreb13 said: "[url]http://www.superiorinvestor.net/showthread.php?t=6391[/url]"