How to trade stocks online for beginners?

Books or websites that help out beginners in the stock market?

  • I'm looking for serious and non-spam recommendations for websites or books that can help out beginners who want to trade stocks online and get the basic information of what they need to do. My though process right now is that a savings account earns too little and I'd like to have the possiblity to get a big return on my investment in a relatively short period of time.

  • Answer:

    "Stock Investing For Dummies"

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"The Intelligent Investor" by Benjamin Graham. It doesn't tell you how to trade online, it tells you how to develop a rational approach to investing.

CHARLES R

Read financial blogs,here is one http://destinationmillions.blogspot.com/

tk

I really like "Kiplinger's Guide to Investing Success: Making Money today in stocks, bonds, mutual funds and real estate." It's 400 pages of excellent guidance for beginners to advanced investors. I refer to it often and recommend it highly.

leadoptimist

Good for you to want to educate yourself instead of just hiring someone to handle your money. I'd recommend the Fox block of business shows Saturday from 10 a.m. to 12 noon EST--good overviews and you see experts argue. Get some good stock picks some times as well (my favorite is actually Wayne Rogers--have made money off several of his recommendations). Web site: I'd open at Scottrade. No fees, both limit and market orders are $7, and only $500 to open an account. They have all kinds of research available to you on site--well worth the investment of your time to get familiar with it. Books: The 9 Steps to Financial Freedom by Suze Orman The Road to Wealth by Suze Orman Your Money Rules for Financial Freedom by Michael J Laurence (great reference as well) All Your Worth by Elizabeth Warren Rich Dad, Poor Dad by Robert Kiyosaki (and as with Orman, any of the series are worth it) The New Buffettology by Mary Buffett We Want You To Be Rich by Kiyosaki and Donald Trump Not every book is all about the market, but the market NEEDS context to do well in it. All the books are readable. Web sites--well get used to things like http://moneycentral.msn.com/investor/StockRating/srstopstocks.asp which has a wealth of tools--but need to know something of what to look for. Don't avoid magazines: Forbes, Smart Money, Fast Company, Inc, Fortune, Kiplinger's, etc. Also IBD--Investors Business Daily newspaper is good. I would not count on a big return on investment in a relatively short period of time--EVER. Today's market would be especially challenging. Day trading is not the way to go, investing is, and that means longer term. You should have an IRA--you can do stocks in there--can't touch before 59.5 anyway unless you want a big penalty. Personally I'm fond of dividend paying stocks--I prefer monthly. Harder to cook the books and their capital appreciation is just fine. Be careful to NOT get too sold on any theory, stock, or person--most are making money SELLING you on stuff, not doing it out of the kindness of their hearts or real "inside information." Good luck!

heyteach

My Finance Management professor recommend "A Random Walk Down Wall Street" as winter vacation reading. I'm halfway though it, and couldn't agree more. It emphasizes the most current economic thought on investing in an approachable style, and dispenses with the saccharine new-age frisson of Susie Orman.

Hermoderus

DO NOT GET BOOKS FROM SUZE ORMAN. She is not a savvy investor. I do agree with getting books from other solid stock market investors that will teach you the philiosophical side to investing and the concepts rather than actual application. These concepts and philosophies will stand the test of time regardless of the market. Listen, when it comes to investing - good returns in the stock market in short periods of time go to those who are either lucky (which only happens once or twice) or to ACTIVE AND knoweldgeable investors. If you want good returns in short periods of time, get with other investors who can use your money and apply it to solid investment strategies they have been practicing for some time. For example, I can take $10000 today and within 3 months have $12000 in your pocket. Why? Because I am investor who understand my investment product. However, when I started, I could not have done this. The same will be true for you. It wil take some time to develop the right strategy and start getting good returns.

SSB662

http://www.top10traders.com is a free site that lets you create a "practice" portfolio. Each month the site ranks the best performing investors. Here is a link from the site on good investing books: http://top10traders.com/ViewPost.aspx?postID=791

Barry R

Neither books nor websites. You need to read current business magazines, such as BusinessWeek, Barrons, Wall Street Journal, Money, Fortune, and more. Watch CNBC also. You will get current info from these, since it all changes by the moment.

Mr. Prefect

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