Wednesday, July 21, 2010

How To Buy Stocks

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I guess that a little tutorial is in order here on how to buy stocks. The first thing you should have is a online investing account at at broker like Etrade, OptionsXpress, TradeKing, TDAmeritrade. You might Google special offers for each of those companies because they are usually trying to get customers and have a promotion going on so you might check that out. Once you open an account, you'll need to fund it with cash. You can usually do this by sending a check in or by EFT. If you want you could probably wire it in as well. Once you have funded your account, when the funds have cleared you are ready to get started.

A special note if you live outside the United States, it might take longer to get your account set up. Check with the brokers and see. I know that my friend was in Mongolia and had a tough time getting it opened up. Just an FYI.

It's easy these days to learn how to buy stock in your account. Many of the online brokers have stock market investing simulators that mirror their real systems. This will give you a chance to get familiar with the controls so to speak. I know that OptionsXpress has a pretty good simulator.

Many of the brokers also provide videos and help lessons for those who might need lessons for how to buy stocks for beginners. These are really useful. I know that I also get many emails from some of the brokers offering free webinars so if you are new, there are plenty of resources available. You might also check my Ultimate Buying Stocks Guide for a few more tips on getting started. Before you invest, you should also notice the market direction IBD posts in their paper every day. Make sure we are in an uptrend before you grab a position in a stock.

Once you've been investing for a bit, you'll start to get on mailing lists like this: How To Buy Penny Stocks. Keep in mind that it's easy to lose focus. Try not to let offers like this deter you.

I also want to let you know that when you are learning how to buy and sell stocks, sometimes it's easy to get confused by the types of orders you can place. When you are first starting, just put in market orders. That's what I do.

OK. Enough today. Have a great day and good luck!

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