1. Your Questions About How To Make Money In The Stock
Market Book
Thomas asks…
How can I get into stocks and learning about them to make some
small money?
I'm 16, but interested into investing in some stocks for short-term. Small day trades here and
there. I started a small internet company last year and made about $38,000 and put $5,000 into
an IRA fund and it's just sitting in the money market right now. I had a chance to open a
portfolio on a simulated stock market with $100k to play around with, but would like to
understand how to follow trends and invest correctly without "gambling" to the highest extend.
Any tips, books, etc?
Steve Winston answers:
You are at the beginning of a great learning process. Learn all you can free books and free
websites. Practice trading with fake money, a technique known as paper trading. Find a few
simple trading systems that you like and practice with these
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2. Helen asks…
how do i enter the stock market?
i have read some books and ben to a semenar and they all have said 3 things make one rich or
add income. they are real estste, busness and stocks. well i am not smartenough to run a
busness, and i havent the money to buy property, so i thought i will try the stock marjet. i have
always had an intrest in the marjet. i understand i will mostlikely not make money but i thought
i would set aside 500 bucks and see what happens. so how do i use my 500. where do i go on
line to guy stocks and do theses places give me all the graphs i need to study the stock befor i
buy it? should i buy the wallstaeet journal?
Steve Winston answers:
Well you first need to open up an account with a brokerage firm. Ameritrade, TDwaterhouse,
Morgan Stanley, E-Trade, etc, etc. A cheap one is Scottrade. You will need to pay a fee to
make purchases, but some (like Scottrade) are cheaper. Last time I checked Scottrade was $7.
You will have to open an account before you can start, when I checked a year ago it was a
minimum $500 investment. Then comes what you want to do with your money. You could
basically gamble it on some penny stocks hoping to hit it big, but expecting to lose (think slot
machine in vegas) or you could take a conservative approach and try to diversify amongst
various countries with mutal funds. You could buy the WJ, but it is not necessary unless if you
plan to read it thoroughly on a daily basis. Otherwise start to read company profiles on Yahoo
Finance www.finance.yahoo.com (I think). Without putting down any money you could create a
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3. portfolio of prospective stocks and watch those for a month. After that time you will have a
better idea of how things work. Must people don't hit it big in the market and make a fortune
from nothing. People make their money by investing in a well diversified portfolio of stocks and
maintaining them through the lows and highs of the market. The return over 20 years could be
about 10% per year, if you reinvest your earnings and dividends you can compound this interest
over that period of time. Either way, the sooner you get into the market the better, just make
sure you do you homework.
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