Never been in here so I'll start with a hello all. I always said "one day I'll learn about stocks" its too late in the game but its gonna be a hobby I guess. I really immursed myself this last weekend but there is alot of info out there, plus the infomercials.
What is recommended reading or who has good info via youtube? Haven't paid for the Fool, or SeekingAlpha yet, but considered it. Thanks all.
"There is nothing more free, than one who has nothing to lose"
Investors Business Daily or IBD for short. They usually have a cheap trial period and you can get a wealth of info there. Lots of training videos and everything is explained really well. IBD is information overload but it’s really good. Read some Jim Cramer books. Mostly Fool is good too. Once you feel you know enough to be dangerous then I use these tools: Yahoo Finance, Hedge Follow, and Insider Tracking for stock info, ideas, and research. Once you purchase stocks you need to watch the market Pre and post and check all the time on any news that will affect the stock you own. Never buy all at once is my #1 rule, #2 is always have cash on the side for sales, and #3 is take profits. Good luck.
Thanks. Currently using Yahoo, playing with StockUnlock. No money spent yet. Want to get to the point that I have some knowledge to make an informed decision before I spend the first dollar. Youtube has too many people and their videos so I've only watched the Fool stuff, and I've watched Daniel Pronk. Not looking to day trade. Just growth stocks.
I will check out your recommendations.
"There is nothing more free, than one who has nothing to lose"
If you’re not looking to day trade and just starting I would recommend a SoFi type account or one of the newer ones. I have most everything in fidelity and really like it. But my new money is going to sofi.
SoFi allows small weekly automatic trades along with crypto. I buy eutherum bitcoin, and 10 stocks weekly. Stock purchases can be as little as 5$ a week with no fees “fractional shares”. It all adds up. I don’t sell in that account. If you have other hobbies I would make this as hands off as possible. I wouldn’t really do much research, just pick great companies and etf in sectors you like , or straight up index funds.
pick about 3 stocks you like. Put it on a slow drip. Certain dollar amount every week and about 3 to 7 index funds or ETFs.
I like forever stocks like WM, UPS, Costco use some knowledge of what you work in. Our company signed up for Zscaler, I put it on a drip.
Listen/read Simple Path to Wealth, if you are in solid investments and it’s on a slow drip, don’t obsess over the value, 10 years from now you’ll be happy you started.
last advice research what type of account, if you are eligible for a Roth IRA start filling that first, if not then do a traditional, then if all else or on top do a regular taxed investment account.
Happy investing, it’s never too late!
last last, I don’t recommend paid subscriptions, I don’t recommend listening to the media, look around at where your and your friends money goes, and buy stock in those companies!
Last edited by Walleyesok; 12-14-2021 at 05:26 AM.
You don't have to pay for any services to be successful at investing. You can keep it as simple or complicated as you want. A simple way would be to buy stocks that you are familiar with the company. You can get complicated by evaluating the financials of a company, understanding fundamentals and even technicals of a stock.
Cramer has some good books, they're easy to understand and give you some basics to evaluating a company and the market overall. I'm sure you can find the same information online for free. Most brokerage sights have really good beginner tools. Like Etrade or TD Ameritrade, just as an example.
Avoid any and all services that promise anything. If a service that promises returns was actually good, the creator of the service would be a billionaire on a tropical beach not trying to sell you garbage.
Thanos was the hero
https://www.investopedia.com/ A lot of educational resources on this site.
Also, you can paper trade on certain platforms, such as think or swim. I would highly recommend paper trading as you start out on your journey. While paper trading, keep notes and/or a journal, this way while your are learning you can also learn from yourself.
What we cannot obtain from intelligence, we can learn from experience.
Originally Posted by 200xp
I forgot about Investopedia…that’s a great site too.
All great advice. Ordered the Intelligent Investor and a couple other books from a used book store, I'll be lucky if I see them by the end of the year. I've burned Investopedia up, and started a temporary subscription on IBD. I have a few stocks in mind and have a watchlist. I'll keep hanging out here and we'll see how this goes. I'll keep you posted.
"There is nothing more free, than one who has nothing to lose"
If you want to learn about fundamentals then I would start by watching FastGraphs and Everything Money on YouTube. These are mostly geared towards value investors but they walk you through a good process to teach you how to value stocks and make sure you are not overpaying.
Do you have a IRA yet? This is more important than messing with stocks.
Put 10% of you paycheck into you work's 401k if they offer one, if not, do an IRA or one of the other retirement saving options.
If you still have some $$$ left over dabble in a couple of stocks.
One word of advice.........be patient
Last edited by Grizzly; 12-17-2021 at 04:42 AM.
I'll add ... HSA > 401k or IRA ... if available to you.
Remember, it's not about anything more than participating, consistently.
Pay yourself first, save, save, save. Eliminate debt, be conservative.
Live like no one else will today, live like no one else can tomorrow.
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