hey dont listen to these guys, we've all gotta start somewhere man. You have to know your risk tolerance. If the $5K means alot to you then buy an index and be safe if it is nothing to you then play with the market and practice your day trading and by that I mean if you wanna learn to day trade then learn with your $5k dont listen to people....trades are $9.99 at etrade so on $5K its under 1% of the transaction
I'd suggest picking a stock with low volatility that you wouldn't mind holding if the price went down. Lets say Exxon, buy your 55 shares of it and if it pops $1 sell it and youll clear $45 not much but you'll learn the premises
Index funds are great but I personally dont do them, Id rather buy and hold specific blue chips but its your call, good luck to you and I hope you learn alot and make a lot of money.
Odds are you're gonna lose some money, but hey once you get it down, you're gonna be on the right path man so don't get down if you lose a little remember you're getting in literally at the top the market hit 15,000 today
and dear god avoid options and margin until you know what the hell is going on.....that i beg of you
This post was edited on 5/3 at 8:33 pm