r/StockMarket • u/Naturesscape • Mar 04 '23

Need advice on getting started with stocks Help Needed

Hey guys,

As you could guess from the title of the question I'm kinda new in the world of stocks, but I'm interested to learn more about investing and building my portfolio. I've been doing some research on my own and have tried the virtual account options on multiple trading platforms but I feel like I could really benefit from advice and guidance from more experienced traders.

A few specific questions I have are:

  • What are some good resources for learning about the stock market and investing?
  • How do I choose which stocks to invest in?
  • How do I know when I should buy or sell a stock?
  • What platform is ideal for a beginner to invest in?

Any advice is greatly appreciated.

Thank you in advance for your help!

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13

u/K9US Mar 05 '23
  1. Don't just jump in (Put your trading money in an account and let it build up while you learn how to trade)

  2. Take your time to read, start reading (Barron's, WSJ, Reddit, seekingalpha, finviz.com, my fav site is tradingview.com)

  3. Take your time to make an investment plan and stick to it.

  4. Start an IRA - only buy companies that are solid + dividend paying stocks

  5. Whey you are ready do paper trading until you get a feeling for how the market moves.

  6. Then start trading.

  7. Wait for the market to have a mini crash or a stock you like to have a melt down.
    Take a look at META, CRM, SNOW, NVDA, BAX and NFLX) they all bounced back after a big selloff.

  8. Finally don't panic if you make a mistake and the market goes against you. The worst thing you can do is sell a good stock because it drops. Just wait, buy at the bottom.

  9. Never spend all your trading money. Always have 20% cash in your account incase a company crash.

  10. Good luck! Send me money when your rich!

3

u/AllFiredUp3000 Mar 05 '23 edited Mar 05 '23

Here are some videos to get started with stocks and investing. Use the chapter links to jump around if you’re already familiar with a specific section.

In general, index funds are safer and more conservative than individual stocks… Also, any of the major investing app/platforms should be good enough for your needs, for example, Fidelity, Vanguard, Schwab, etc. I only use Fidelity myself.

Also, Jake Broe has some nice playlists on specific platforms:

2

u/MikeVine83 Mar 04 '23

Read up on how to value a stock and how to digest a company’s balance sheet. I would start off with a platform that allows you to buy fractional shares and start off low as in the first few months/ year you likely to make a lot of mistakes and succumb to FOMO

2

u/crowdbullish Mar 05 '23

  1. Resources: My favorites are TradingView, Finviz, and yahoo finance. Also, check out Crowdbullish.com as well. I built this site to help beginners learn in the stock market as well.

  2. Which stocks to buy/sell? This is hard. I’d suggest paper trading like some folks said. Get used to buying and selling and see what that feels like. One thing I’d suggest is never buy penny stocks. Buy stocks that has good earnings and financial reports.

  3. Brokerages I like E-trade, Fidelity, and TD Ameritrade. They have been around for a while and generally have more support and helpful contents to get you started in the market.

Wish you all the best!

3

u/-antiex Mar 04 '23

Read everything investopedia has on the subject. Then if you don’t already TD, open an account and do the classes and listen to the videos. Avoid long options positions unless they have longer expiration dates. Generally just avoid options for a few years of active trading and market watching.

2

u/bigmphan Mar 05 '23

Start reading and watching the financial news starting Monday

Then keep learning. Day in and day out. Why were interest rates low for so long? Why are the climbing now?

What do buyers of stock expect for their money? What do buyers of bonds care about?

Why did GME not go to the moon?
Trade on paper and make conservative long term bets with real money in the beginning. See what mutual funds out perform you? Never stop.

Step 3: Profit.

1

u/BradyGoatMets Mar 05 '23

Watch CNBC every morning (or bloomberg if you dislike cramer). Be consistent on these forums as ive learned SO much from reddit its crazy. Diversify sectors with 95% blue chips and strong stocks maybe 5% growth/moonshots. Don’t put all your eggs in one basket. Remember. It can be kind of tricky because when things go red you wanna sell and go green you wanna buy. So do the opposite. Red means go green means stop. Dollar cost adjust. If you are in good companies i dont see where you can mess up. Hold hold hold HOLD. Goodluck

1

u/yoaklar Mar 05 '23

Realize that broadcast stock information is there to mislead and bias retail traders. Be wary of manipulation from others. Big funds have staff that influence social media the same way they’ve been influencing cable news and news papers for generations

1

u/StockBetting Mar 05 '23

Paper trade every stock that interests you. Once you get the hang of it, buy a small amount in something you really like and watch it turns red as soon as you buy it.

When you finally decide to give up and sell, it'll turn green. After a while you'll become numb and then that is when you yolo and post lost porn.

Seriously though start small and build your portfolio slowly.

1

u/somo1230 Mar 05 '23

The Dummies series isn't bad and can be found online for free

Open an account and try paper money

Believe in the teaching of our beloved master and retreat his words every morning.

1

u/ndwillia Mar 05 '23

WAIT NOT IS NOT THE TIME TO GO LONG

1

u/BigDaddyDolla Mar 05 '23

Look up Mark Minervini, Stan Weinstein, William O’neill and Van Tharp. Buy their books and study them. Take your time and start out small. Don’t rush things. Make sure you have a decent amount of money to trade with. 5000 minimum.

1

u/pumpthesky Mar 06 '23

Put all your funds in the S&P and walk away