Very Basic Newbie Questions

[nopeda 10]

Hi,

 

I've never done any of this but have been thinking about it for around 20 years. Now I finally want to at least try it out but don't know how to get started. I'd like something to be involved with like day trading or something but don't want to--and can't--sit in front of a computer all day because of work, and don't have much money so would have to deal with low priced stuff. I've heard the term penny stocks. Is it possible to set it up in advance so things will automatically buy and sell when they reach different points so we don't have to be there watching charts all of the time?

 

Just in searching around for different forums it became apparent that there are a lot!!! of places for beginners to start, but I don't want to just grab whatever and hope it's worthwhile. So I'm asking around what experienced people have learned about and suggest as good specific tutorials or threads or whatever they think is best for beginners to learn the basics. I know nothing at this point so need to learn how to find out what to learn, if that makes sense. Where to start from the very beginning, from nothing?

 

Thank you for any help and suggestions!!!

David

[dbelov275 11]

To invest in stock, you must spend time reading and following financial news and updates. also you need certain amount of money (not small) to invest in stock in the stock market. Since you are new and don't have much time, I will advice an index fund. it will simply safe your money and you keep getting interest after certain periods of time.

[jpennybags 11]

David...

 

How would you propose that without much money or time that you would take up trading?

 

It requires a lot of both. The money should be something that you could take a match to without any deep sense of loss, and the time (commitment) is another issue that may effect your quality of life.

 

I would venture that this trading thing is not for you... it's not what you think it is, and there really are more constructive things to do with your time. If you've thought about it for 20 years, take another year to do some reading. You will have a better sense of what it's all about. You can start anywhere, the web is full of information and it's free.

[aimhi 10]

I guess being a newbie you have to learn a lot as trading might be an easy job but making money with trading might requires a lot of practice and patience. All what i can suggest here is to start trading demo account and give some time learning how to trade with the virtual money.

 

You can do it in your free time by continuing your primary jobs so that your source of income should not be disturbed. Once you think you are able to trade live and can earn some good bucks with it, start with minimum amounts and invest safely. Good luck!

[CrazyCzarina 17]

Although the thread is too old, I don't think to post it but as per my view, I think newbie must go for demo and then try luck with a real account. I think Forex is for not every other person so you need to get real before your real money is invested.