Investing in the stock market

[Mutant Funk Drink]

So I'm considering investing in the stock market. I've never done this before, but I figure it's something I should get some experience in even if I only try it once.

Does anyone here have any advice on how I should go about doing this? Are there any suggestions on what I should invest in?

[The Explanation]

There's a fair number of "virtual" stock markets online that you can start out on to get practice. Be sure and have at least $1000 or so before you start, otherwise the commission will take up too large of a percentage of your capital to make a profit.

I'm sort of new at this myself, but after losing a little money in some random stock picks, I'm up about 10% on SPY, which is actually an exchange-traded index fund.

[hotbod]

Originally Posted by Mutant Funk Drink

So I'm considering investing in the stock market. I've never done this before, but I figure it's something I should get some experience in even if I only try it once.

Does anyone here have any advice on how I should go about doing this? Are there any suggestions on what I should invest in?

dont quit your day job

[023]

Go with Etrade or a comparable online trader.

They are insured by the FDIC, and although they do charge ~$9 per trade, they provide so much research material.

Have at least $1000 to invest. Commissions do get at your profit and it's hard to be diversified with less than a grand.

Also, invest in something you know. An hour after this Gizmodo story broke, I bought Apple at $243.93. I know when they realease the iPhone 4, theyre profits will skyrocket, and so will the stock price. So buy what you know. Also, luckily for me, their quarterly earnings came out the day after I bought it, and shattered expectations.

It'll help to experiment with a free trader, like Google Finance. You can setup a portfolio and see how it does.

[Pooka]

Originally Posted by 023

Go with Etrade or a comparable online trader.

They are insured by the FDIC, and although they do charge ~$9 per trade, they provide so much research material.

Have at least $1000 to invest. Commissions do get at your profit and it's hard to be diversified with less than a grand.

Also, invest in something you know. An hour after this Gizmodo story broke, I bought Apple at $243.93. I know when they realease the iPhone 4, theyre profits will skyrocket, and so will the stock price. So buy what you know. Also, luckily for me, their quarterly earnings came out the day after I bought it, and shattered expectations.

It'll help to experiment with a free trader, like Google Finance. You can setup a portfolio and see how it does.

Your stocks are not insured by the FDIC, they are insured by the SIPC. But the insurance only kicks in if E-Trade goes bankrupt, and not for your losses. Deposits in E-Trade bank are FDIC insured though.

[023]

Originally Posted by pooka

Your stocks are not insured by the FDIC, they are insured by the SIPC. But the insurance only kicks in if E-Trade goes bankrupt, and not for your losses. Deposits in E-Trade bank are FDIC insured though.

No shit.

They are insured by the FDIC

Etrade is insured by the FDIC. I never said my stocks were.

[Pooka]

Originally Posted by 023

They are insured by the FDIC, and although they do charge ~$9 per trade, they provide so much research material.

You made it seem like your stocks were insured. Phrase your sentences better next time.

[VerbalGraffiti]

I Googled 'virtual stock exchange' and turned up several results. Which virtual stock exchange do you think would be the best for someone like me who is just looking to learn how trading works?

Currently I'm trying virtualstockexchange dot com... Has anyone any experience with them?

[Pooka]

Originally Posted by VerbalGraffiti

I Googled 'virtual stock exchange' and turned up several results. Which virtual stock exchange do you think would be the best for someone like me who is just looking to learn how trading works?

Currently I'm trying virtualstockexchange dot com... Has anyone any experience with them?

The one you're on, and the Investopedia one are good. The only difference is the Investopedia one allows options trading.

[Actor]

If I was gong to do stocks I would find one where the graph has done up, and down, and looks like it will probably be coming back up.