Where can i start to invest $500?
by Gary James on Sunday, August 8th, 2010 | 9 Comments
I am 22 and i’m just started to get interested into stock. and i check all the websites like e-trade and fidelity. and i was wondering if i was to start with 500 and wanted to invest do you know of a place were i could do so or website that i can visit. and i also have some interest in penny stock, is that a good drive for a starter or do you have better ideas. i would like to take any idea, My boss is the one who keeps getting me interested in stock and now i definitely decided to do it. thanks for your help and suggestion.
Hey everyone, Gary here. Stock trading was never my forte'. I lost tens of thousands of dollars listening to stupid advice and letting other people trade for me.
penny stocks suck. read books, learn how to do research and build your own portfolio. or if you dont want to do all that work find a financial advisor.
-johnny wadd
I don’t like penny stocks.
Their volume is very low.
If you ever need to sell – you may have a VERY tough time finding a buyer, especially if the price starts falling.
Fidelity will not let you open an account with only $500.
You will have to go with the lower companies – they may not even let you invest in penny stocks.
Google "discount brokerage reviews" – it will show you all the fees and initial amounts required of each company.
Remember – you get what you pay for – don’t go for the cheapest.
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Not sure unless you tell us the purpose of this money, your time frame, your risk tollerance, etc.
Generally, I would not invest in single stocks. If you just want to gamble, go to Vegas. If you want to invest, invest regularly each month in quality mutual funds or exchange-traded funds with long-term track records. Penny stocks are simply gambles and many are scams (pump and dump).
If you want to save for RETIREMENT (which you should be doing if you work) then invest your money every pay period into a 401(k), IRA, or ROTH IRA and invest in quality mutual funds. At your age you should invest almost all of it into stock funds and divide the money between large, mid, and small cap domestic funds, and foreign/international funds.
Good Luck!
You can start with such a small amount on sharebuilder, but probably best to keep your money safe while you learn and develop a plan and test your trading plan on a simulator.
http://www.howthemarketworks.com./
http://stockmarket.makemoneyideas.in/
http://simulator.investopedia.com/home.aspx (simulator, and finance terms and definitions)
http://www.top10traders.com
http://investing.sitesled.com/
http://www.stockcharts.com
http://www.freestockcharts.com
http://futures.tradingcharts.com/learning/
http://www.fool.com/school/basics/basics...
http://beginnersinvest.about.com/library...
You might want to read this article about penny stocks, they are highly speculative and risky.
http://en.wikipedia.org/wiki/Penny_stock
Find yourself a good index fund the mirrors a broad stock index such as the S&P500. And, skip the penny stocks. They are a scam.
You should wait a bit until you have a little more money. $500 isn’t usually very much to invest with. I think penny stocks are a bit risky. They are sometimes very difficult to sell so I personally wouldn’t take that risk.
Invest in different stocks and keep doing it. Before you start investing though, make sure you have done lots of research so you completely understand the stock market
If you decide penny stocks are the way you want to go.. this may help http://www.wheretobuypennystocks.org
get more details ; open the second & fourth link in: http://www.total-forex-trading.co.cc
90% profit in a managed account of 1 000$ (1k).
Don"t think this is possible?
Mail me at bjorn.symons@gmail.com to see the live results.
Regards,
Bjorn
Penny stocks are a good choice to start out with, they are low risk and fun to mess around with IMO. That’s what I started with, you can earn some money and not risk much at the same time I suggest you start there. Hope this helps take care.