I would like to invest in the stock market but first I need to educate myself- Where do I start?
I have around £7000 which I wish to invest and hopefully make some money, the thing is I’m totally clueless so I need to read up on the subject.
Which books or internet resources should someone read if they want to learn the basics of the stock market and also more advanced material?
Thanks
-Matt
I agree that now is not the time for beginners in the stock market. Today is a good example of how quickly you could lose 3-5% of your money in just one day.
For the meantime put your money in a short term (year or less) CD and during this year read up on investing while the market finishes bottoming out. You can read up on investing at the educational sections of any of the discount brokerages. Vanguard, Fidelity, Etrade, TDAmeritrade, all have self education sections for new investors. Read, read read and then set up a test portfolio on Yahoo Finance and then track your stock choices for a year. When you have a good feel for what you are doing then take your money out of your CD and open a discount brokerage account and start investing.
Stay away from stock touts right now unless you want to lose your money. Watch Yahoo & Google Finance every day for trends in the stock market. Also read sites like The Motley Fool http://www.fool.com/ Self education will help save your money plus make you more. Be patient because right now the market is a dangerous place where it would be easy to lose much of your money if you chose the wrong investments. Wait until the market turnaround to invest and by then be self educated enough to invest wisely.
http://personal.fidelity.com/products/trading/index_content.shtml.cvsr?refhp=pr
https://us.etrade.com/e/t/jumppage/viewjumppage?PageName=OmniTools&SC=CCJP100
https://personal.vanguard.com/us/planningeducation
A good read on mutual funds for new investors is Bogle on Mutual Funds. Bogle owns Vanguard Funds so he knows what he is talking about regarding investing in mutual funds.
good luck and have fun
I would suggest ‘One up on Wall Street’ by Peter Lynch.
.. followed by ‘The Zulu Principle’ by Jim Slater ..
Then a topical choice, (if you can find it) ‘Riding the Bear’ by Sy Harding ..
In the meanwhile I suggest an interest bearing Stocks & Shares ISA (if you are brave, you can choose an Index Tracker and perhaps a few Banks 🙂 )
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Now is not the time for a beginner! You might make a lot, you will more likely lose a lot!
Put it in a 1 year fixed bond (typically just over 7% for the year) where you will get guaranteed interest.
Watch the stock market for a year choosing a variety of stocks you fancy, read the financial pages in the newspapers and see how theoretically you get on, then decide if you want to chance your arm!
References :
I agree that now is not the time for beginners in the stock market. Today is a good example of how quickly you could lose 3-5% of your money in just one day.
For the meantime put your money in a short term (year or less) CD and during this year read up on investing while the market finishes bottoming out. You can read up on investing at the educational sections of any of the discount brokerages. Vanguard, Fidelity, Etrade, TDAmeritrade, all have self education sections for new investors. Read, read read and then set up a test portfolio on Yahoo Finance and then track your stock choices for a year. When you have a good feel for what you are doing then take your money out of your CD and open a discount brokerage account and start investing.
Stay away from stock touts right now unless you want to lose your money. Watch Yahoo & Google Finance every day for trends in the stock market. Also read sites like The Motley Fool http://www.fool.com/ Self education will help save your money plus make you more. Be patient because right now the market is a dangerous place where it would be easy to lose much of your money if you chose the wrong investments. Wait until the market turnaround to invest and by then be self educated enough to invest wisely.
http://personal.fidelity.com/products/trading/index_content.shtml.cvsr?refhp=pr
https://us.etrade.com/e/t/jumppage/viewjumppage?PageName=OmniTools&SC=CCJP100
https://personal.vanguard.com/us/planningeducation
A good read on mutual funds for new investors is Bogle on Mutual Funds. Bogle owns Vanguard Funds so he knows what he is talking about regarding investing in mutual funds.
http://www.amazon.com/Bogle-Mutual-Funds-Perspectives-Intelligent/dp/0440506824
good luck and have fun
References :
Forget the internet to learn. Here are two books to buy: Wallstreet money machine by Wade Cook read the chapter on rolling stocks, that strategy works. another book, What works on Wallstreet by James Oshanessy. This gives every stock strategy there is, another book. Investing for dummies.
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Don’t trade by your self, look for a financial advise and a good broker who will guide you. though he has his own commission of any stock he help you buy or sell but it will pay you better. good luck
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You can invest in an ISA up to £7,200. This is more tax efficient.
The Share Centre do a free practice account, so you can try trading without any money.
http://www.share.com/webp/freepractice.htm
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http://www.share.com
98% of beginners lose nearly all their money after 1 year.It’s a corrupt business,DO NOT GET INVOLVED!!!!
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