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Naive investing question
Posted on 2/20/18 at 11:29 pm
Posted on 2/20/18 at 11:29 pm
Say I want to play around with investments myself, is there a good/easy website or app where I can get into buying a few stocks or something I can manage myself? Something I can invest a little money into but nothing serious
I obviously know zero about this stuff. Just interested
I obviously know zero about this stuff. Just interested
This post was edited on 2/20/18 at 11:31 pm
Posted on 2/20/18 at 11:36 pm to Relham10
Sure there are dozens. ETrade, etc. If you are looking to day trade or swing trade I do caution you that you will highly likely lose a good chunk of your money given your lack of experience. It takes years of being actively in the "war zone" to have the discipline to watch your money lose hundreds or thousands every minute and not prematurely sell at a loss. If you are not interested in truly becoming an expert, just invest in long term index funds. And those will beat most experts anyways.
Posted on 2/21/18 at 12:00 am to Monticello
Thanks. Not really looking to be an expert, just put up little money and see what I can do with it. No high stakes. Basically see if I can make a little something out of nothing.
Posted on 2/21/18 at 4:33 am to Relham10
You have a 401k? If so, open up a separate account with the same people to have it all in one place.
Posted on 2/21/18 at 4:49 am to AaronDeTiger
Ok yes, I have a 401k with Wells Fargo. Thanks, ill look into it
Posted on 2/21/18 at 5:16 am to Relham10
If you’re just testing the waters and not talking about a huge amount of money, I think the Robinhood App is a no-brainer. It allows you to trde stocks commission free...A HUGE advantage when you want to make small plays and not have fees kill you.
If interested, here’s a referral link, if used we’ll each get 1 free share of a random stock.
LINK
If interested, here’s a referral link, if used we’ll each get 1 free share of a random stock.
LINK
Posted on 2/21/18 at 5:45 am to Relham10
Robinhood has been a great learning tool for me. Check it out.
Posted on 2/21/18 at 6:13 am to Relham10
quote:
Not really looking to be an expert, just put up little money and see what I can do with it. No high stakes. Basically see if I can make a little something out of nothing.
I highly recommend staying small if you want to play around for funsies. It's very common for people to start out that way and get lucky for a while in a bull market and think they can consistently beat Wall Street. Then they jack up their bet size and eventually get crushed. Happens all the time. You will not beat Goldman Sachs with their multibillion dollar investment in robot traders for very long.
If you want to save for retirement then stick with index funds, they really are more reliable.
This post was edited on 2/21/18 at 6:15 am
Posted on 2/21/18 at 6:37 am to Relham10
Robinhood is what I've been using to play around. It's pretty user friendly with low fees. I've only got a couple hundred and have picked up a couple stocks just to see how they perform and get my feet wet. Although I don't foresee playing the stock market becoming a thing I feel confident enough in to really put anything at stake. I'm definitely more comfortable with putting my money into MFs and ETFs.
Posted on 2/21/18 at 10:27 am to Relham10
Are you looking to trade or invest? Big difference.
Pick your direction, study, then paper trade. That would be my advice.
Pick your direction, study, then paper trade. That would be my advice.
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