IRS2K

I've been following/reading newspapers, books, websites, and talking to people for the past 2-3 months. Suprisingly, there's lots of good information on this site too!

At this point, I'm ready to start. But after all the information/knowledge gained, I'm not sure how or where to get started.

Should I sign up for one of the online stock trading sites? Should I find a broker and start with ETFs, or mutual funds? Should I go to a financial investor and give him my monies?

I've got about $25k that I could "afford to lose" (rather not, of course ), investing more as needed.

I am definitely looking for good long-term investments, however I'd also like the ability to be able to take out profits/money as needed for other investment opportunites, should they arise.

Thanks!

amao20

[QUOTE=IRS2K,Dec 13 2007, 09:59 AM] I've been following/reading newspapers, books, websites, and talking to people for the past 2-3 months.

IRS2K

How do you like Scottrade?

I'm not sure yet how involved I can remain with it. I know it'd be best if I could dedicate more time to it if I was to choose an online brokerage account. I'd probably only be able to do an hour a day on weekdays. It just seems the fee's for a full service broker are so high?

Did you just set up with Scottrade and have a go at it?

Any advise is appreciated.

Thanks!

_Dc

not to jack your thread, but where do you guys research the companies? how can I watch/listen to conference calls?

amao20

I think Scottrade is good for what you pay ($7 per trade). The trade executions are quick with tight bid/ask spread, so the ticker price you see is more or less the price you buy and sell at.

Scottrade's news and research tools are decent - they provide fundamental and technical analysis for the vast majority of stocks (and certainly all widely traded stocks). However, I don't really use or understand technical analysis other than moving averages, so I don't know if what Scottrade provides here is worth much value.

I use Motley Fool CAPS, Scottrade, and any place I can find a company's financial statements to do my evaluation. Most companies will post their conference call information on their Investor Relations websites, and I think anybody can join, shareholder or not.

As for how/when I got started investing, I followed much the same path you described. Spent a few months reading and following the broad stock market, read a few books on long term investing, and then opened a Scottrade account. I've been relying more and more on CAPS to screen and filter companies to invest in, and generally it's served me well. I'm probably 35%/65% mix of value/growth investments, as I'm willing to take more risk since I'm still relatively young at 24. As mentioned earlier, I don't daytrade, since I don't understand how to gauge technical indicators.

I suggest the first couple of investments you pick up are blue chips/value stocks, especially given the current market volatility. That's not to say traditional value stocks will be immune to the volatility, but instead I think getting a solid foundation of having a long term investing point of view will serve you well.

sahtt

Regardless of what you do, you will never be done researching or reading if you want to make any money. If you've read a bunch of books you should really have already figured out some of these general questions. I'm not trying to 'harp' on you, just making sure you are as prepared as you think you are.

If you've been following the markets you should also already have many ideas you want to implement. I'd start by setting up an account with zecco/scottrade/etc. and making small positions in companies you are very familiar with and believe in. Perhaps AAPL or GOOG, or if you are a little more aggressive and long term a beaten down bank you like. The international [ETFs] and bullion markets have had incredible runs, but I'd consider making small positions there as well.

AZDavid

I would suggest simulation investing for at least a year. Doing so will give you some direct experience without the possibility of losing money. That way you can hone your skills and develop a strategy which will work for you.

A site that I really like is www.investopedia.com

cthree

[QUOTE=IRS2K,Dec 13 2007, 12:59 PM] I've been following/reading newspapers, books, websites, and talking to people for the past 2-3 months.

SD_S2K

You need to keep reading, listening, researching

If two of your options included finding a broker or going to a financial investor, you haven't learned enough. Both those options will just drain your money.

$.02