Sunday, August 22, 2010

Trading online?

I'm thinking about investing in some stock online through a company but I'm unsure which. I'm a college student and I only have $1,000 in the bank right now, and most of it will go for rent for my apt. If anyone can offer some advice to me on if I should or shouldn't (I'm looking to not make quick cash, but to keep a stock in a company for a while and let it grow) and what company or business I should invest in to be able to have money for the future.

Trading online?
In this market, keep your cash --- in cash. Us e a money market fund, or if you don't need access to it, a 3-month CD.





Read up in investing, pay attention to what goes on, practice with "funny money". Even with this, investing can be a little trepadasious (sp?).





And keep putting a little away each paycheck. Build up an "emergency fund" ( about 3 to 6 months of living expenses) before taking this leap into stocks.





Hope this helps.
Reply:Great... You're short on cash %26amp; your asking strangers how to invest it. You will never know their qualifications or motives.... but you might put your money where they suggest.





Good luck with that!





Keep a "stock" for awhile. Generally long term investing is 5 or more years. 10, by many is the minimum.





You have very little money. And most of it will be needed soon for expenses.





What would you tell you?





My suggestion;


Take $100 and over time buy and read books on investing. Learn it so you'll avoid the typical (and costly) mistakes other newbe's make!
Reply:Well my friend, I honestly think that you should not invest especially when you are not too sure what you are doing.





The best investment that you should put your money into is yourself and the small part inside your head which is your brain.





Get educated first, then you will minimise the risk of your investment and at the same time you will be more confidence in making money from your investment.
Reply:Read a couple of books on investing.the knowledge will help you for a lifetime..............
Reply:You said you are "looking to make quick cash", but are looking to "keep a stock for a while to let it grow."





I think you have conflicting investment criteria. Usually stocks that make you "quick cash" are not the stocks that you let grow.





I agree with Common Sense and suggest you invest $100 in books and education on the market before buying any stock.


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