Member of the Month

PartyBullshiit
March, 2024

Online

Welcome to the Newschoolers forums! You may read the forums as a guest, however you must be a registered member to post. Register to become a member today!

Someone help me with getting into stocks

profile picture
triss
Posts: 1293 - Karma: 2,916
I have earned a lot of money from summer work and I think it is wise to test out my luck in the stock game. Im 17 turning 18 very soon.

Can anyone give me some advice about which site to use and any good stocks to look into. Ik the basics just need to get started.
Jul 18 2014 11:19PM
38 4
profile picture
triss
Posts: 1293 - Karma: 2,916
oh yeh and I'm leaning more towards Penny stocks. Saw a thread about it but since stocks change i need an update on what to look into
Jul 18 2014 11:20PM
0 0
profile picture
jacklong27
Posts: 184 - Karma: 485
The referenced post has been removed.


I only invest in bbc and bbw
Jul 18 2014 11:27PM
8 0
profile picture
Pill_Cosby
Posts: 182 - Karma: 29
I read this as help me with getting into socks
Jul 18 2014 11:29PM
15 0
profile picture
Dolan.Escobar
Posts: 683 - Karma: 943
Bet against political correctness
Jul 18 2014 11:33PM
1 3
profile picture
Dustin.
Posts: 13839 - Karma: 7,704
Index funds and dollar cost averaging have beaten every investor forever. Long term, they are your best moneymaker.

Penny stocks are gambling, they are for morons. Yes you might get lucky and double up, but you can also do that at the blackjack table. You're choice, which are you going to do for the next 40 years?
Jul 19 2014 5:16AM
0 0
profile picture
Al.Capone
Posts: 661 - Karma: 2,779
Useless post but I read it as help me get into socks. I was confused on bbc and bbw dividends and penny socks.
Jul 19 2014 6:21AM
3 0
profile picture
erikK
Posts: 3245 - Karma: 2,325
Read title as socks. Excited for great sock recommendations. Devastated.
Jul 19 2014 9:57AM
7 1
profile picture
bieberhole69.
Posts: 654 - Karma: 1,387
Let me start off by saying that if you're looking at penny stocks, you're not investing, you're gambling.
If you're interested in investing, I'd suggest reading the intelligent investor by Benjamin Graham. It's a great book, and Warren Buffet based his entire philosophy off of it and he's done pretty well.
As far as where to open an account, I have one at TD Ameritrade. It's pretty straightforward, $10 per trade and no monthly/annual fees.
Jul 19 2014 3:52PM
0 0
profile picture
Dolan.Escobar
Posts: 683 - Karma: 943
erikKRead title as socks. Excited for great sock recommendations. Devastated.


Me too. My jimmies are ready...
Jul 19 2014 8:09PM
0 0
profile picture
Skibumsmith
Posts: 5414 - Karma: 11,608
check out these bad larrys!


Jul 19 2014 10:29PM
1 0
profile picture
butterstickinc
Posts: 716 - Karma: 386
Etrade, scott trade, Ameritrade they are all basically the same. I use Etrade and Ameritrade just because of the amounts that i deposit and they give me some free cash to use on investing. Just try to really look at all the financial statements before you buy and look very closely at the business.
Jul 19 2014 10:30PM
0 0
profile picture
*spike*
Posts: 538 - Karma: 65
Penny stocks and OTC Pink Sheets are dangerous as all get out.... But, if you do decide to go that rout, never (and I mean never) hold overnight.

If you are looking for INVESTING advice, though, I would turn to CNN Money, CNBC.com, Stocktwits.com and Estimize.com

On Stocktwits,just look up the ticker and get the consensus. Also, before you blindly get into the markets, make sure to watch CNBC at least an hour a day. Learn Buffets ways, like someone said earlier.

These are my largest holdings, not in any particular order: 3k+


Facebook

Apple

Johnson and Johnson

Verizon (4.3% dividend) (great hedge against market downturn)

AT&T (5% dividend)

Smuckers Jelly (Growth)

Hannon Armstrong (Solar, Finance Industry)

Twitter (Speculative)
Jul 19 2014 11:14PM
0 0
profile picture
*spike*
Posts: 538 - Karma: 65
By the way, I was in the same position as you in 2007. I had a lot of money saved from working during the summers, bought into the market, and have done quite well in this 5 year bull market. Be cautious, though, because I believe stocks, as a whole, are currently overpriced, largely due to Fed Monetary Policy.


Cheers! Best of luck!
Jul 19 2014 11:16PM
0 0
profile picture
sam.psihoyos
Posts: 9 - Karma: 67
Read Benjamin graham because warren Buffett did. Invest in low valued companies with celebrity CEOs if possible - like elon musk. Don't ask ns what to do with your hard earned money.
Jul 20 2014 1:02AM
0 0
profile picture
please
Posts: 96 - Karma: 600
honestly, i dont know if there is a worse place to ask for stock advice than ns


but anyways the market is in the final climb of a bubble peak, everyone agrees that it is bubbling but no one is getting out just yet and no one knows when this bubble will burst but when it does shit is going to hit the fan, it will be worse that 2009
Jul 20 2014 1:50AM
0 0
profile picture
*spike*
Posts: 538 - Karma: 65
It won't be worse, just a 5-10% correction. Corporate profits are at the highest levels in U.S. History.
Jul 20 2014 12:18PM
0 0
profile picture
KravtZ
Posts: 6637 - Karma: 2,629
Index on an aggressive strategy all equity and no bonds. Indexing beats individual stock pickers every time over the long term unless they get lucky. I buy a lot of funds from a company called "dimensional fund advisors"....there all about indexing. I have a balanced aggressive portfolio that literally covers every aspect of the entire world market. Check out their funds really great.

don't buy penny stocks unless you are purely messing around. Horrible 'investments'. The purest form of gambling in the stock market
Jul 20 2014 1:00PM
0 0
profile picture
please
Posts: 96 - Karma: 600
*spike*It won't be worse, just a 5-10% correction. Corporate profits are at the highest levels in U.S. History.


corporate profits mean nothing when the stock of a company means nothing.
Jul 20 2014 1:42PM
0 0
All times are Eastern (-4)