I live in Peru and have just turned 18. I want to invest but i'm sure how to go through with the process, I mean I have no broker and I'm not sure how to work with the online sites (which ones are the best?) Any recommendations are welcome. Thank You.
Investing - 6 Answers
Random Answers, Critics, Comments, Opinions :
1 :
Rafael.. I do not want to insult you but...you maybe might believe something that really isn't true. Somebody doesn't just discover a trading site, put some money into stocks, and then just collect piles of money. LOL Sure a few get lucky (very few). (very,very very few) extremely, more people with that mentality lose money, than make it. I believe of the so professionals out there, most of them do not know how to trade...they know how to make money on your trades. I would suggest...If you want to make money trading that you educate your self first, and you will be surprised on how much you need to learn. (depending on your investment strategy) Personally I think Investors business Daily is a great place to start. Then, after you think that you know what your doing... then start to trade on paper (make believe) Its not the same, but if you keep good records on your buy and sell--your profit and loss, and your happy with it....then start out small, and see what how you do. Or........find an on line broker, throw a bunch of thousands out there get rich!
2 :
I've used Charles Schwab for 15 years www.schwab.com
3 :
First off, save until you have at least $2000-$5000 USD to invest before you begin working with real stocks. While you're saving for your initial investment, do as much reading as you can on sites like Motley Fool, MSN Money, Google Finance, and Yahoo Finance, among others. You should also practice virtual stock trading at places like Yahoo or Wall Street Survivor. Another good place to learn one investor's technique is Jim Van Meerten's Financial Tides blog at http://financialtides.blogspot.com. He mainly works with growth stocks, but his criteria for choosing what to invest in is worth studying. It's a good idea to figure out what you want from your stock investment, because what you want will determine the type of investments you'll make. A suggestion: Once you do start investing with real money, consider investing in dividend stocks, at first, as these will pay you a small amount of money every three months, which you can use either to buy more shares of the same stock (automatic dividend reinvestment) or shares in different stocks (self-directed). To continue investing after your initial investment, it's good to do dollar-cost averaging, which means that you invest perhaps $100 USD a month in shares of a certain stock, and you'll be able to buy more or fewer shares with that $100 each month, depending on the share price at the time you buy. This will help you to accumulate more shares of a stock more quickly than you could with dividend reinvestment alone. It's a good idea to save enough money to buy 100 shares of at least one stock, so you know that, whatever the dividend is, you'll get 100 times that each quarter. So a dividend per share of $0.25 would mean a quarterly distribution to you of $25.00, presuming you own 100 shares. If the share price happens to be something liks $20.00, you'll be in the happy position of getting slightly more than one new share per 100 you already own, from the dividend you'll get each quarter. The more stocks you own, the better a deal you'll get from the distribution over time, depending on the stock price. I use Schwab's online service and its research tools, but ScotTrade is also good, and its fee per trade is $7.00, versus Schwab's $12.95.
4 :
I use Scottrade. I'm pretty happy with them. Check out their website at scottrade.com But before you run out and lose money, learn more about the markets and how they work. I would suggest using a virtual stock market program to test your investing strategy. I use the one at http://education.optionseducation.org/ to test my theories. You should get a feel for what it is like to buy and sell with "play money" before you put down your real money. I only tell you this because it is what I wish I had done instead of losing $10,000 in the first year I traded on the markets.
5 :
I use share builder. $4 to invest in an automatic investment plan and $9.95 to sell or trade.
6 :
hi there ! I think you are a newbie and as such I would like to suggest you gnutrade trading platform to practice not only currencies but also stocks, commodoties and stocks. The play money feature will help you to practice until you feel that you are confident to go ahead with real money. Learning Center will help you to learn things which you do not know.. all the very best... practice daily
