I only have a couple of hundred dollars to start, but I want to start investing my money. How should I start?
I’m really trying to find a good way to make my money work for me with big gains with minimal risks. I don’t really have much right now with money to start except maybe a couple hundred dollars. Could someone possibly guide me in a good direction?
That’s too little to invest. Start by getting thoroughly educated while you build your capital base.
An introductory book like _Stock Markets for Dummies_ is a good place to start. This will give you a basic explanation of most things there are to know about the mechanics of stock investing including useful websites to surf.
Investors Business Daily (IBD) is a solid daily resource (and its complement, www.investors.com ). It’s a better newspaper than the Wall Street Journal and it is built around a particular approach to trading. You could read _How to Make Money in Stocks_ by William O’Neil too–he’s the founder of IBD.
Search your local library for other books on stock investing. Try to absorb as much knowledge and understanding as you can.
After you have extensively researched and gained a solid foundation/education then look to open a brokerage account and paper trade–this is trading with play money before you put real capital at risk. You should do extensively before you eventually place your first trade live. Your early live trades should be with a very small position size. Only increase position size when you have done well to limit losses when the market has turned against you.
Hi.. Big Gains with minimal risks do not go together. But I must commend you for starting to save. It is an intelligent thing to do for your future. I started with U.S. Savings Bonds and put a little bit in each week. Just a thought. Stay away from C.D. and savings bank accounts. You get 0.5% on your money and then you get taxed on income. Stay away from online trading. You can get sucked into that really easily and could end up owing a fortune. For $200.00 I would look into Savings Bonds. You can buy them at any bank or even online. Hank
References :
Nice answer above, I will also tell you that investing with little income can be a bit frustration because returns are not easily satisfying. I would advise you find more money and take better decisions. If you want to make more money, you can join the Mavs Online Money Making society http://snappyutl.net/Moneyclub
and raise earnings. There is a better plan for you with them. Goodluck
References :
Yes there an online company with very little investment. A way to go, they also have a calculator to check to see how much you will make.
References :
http://www.moneyeasymade.blogspot.com
That’s too little to invest. Start by getting thoroughly educated while you build your capital base.
An introductory book like _Stock Markets for Dummies_ is a good place to start. This will give you a basic explanation of most things there are to know about the mechanics of stock investing including useful websites to surf.
Investors Business Daily (IBD) is a solid daily resource (and its complement, http://www.investors.com ). It’s a better newspaper than the Wall Street Journal and it is built around a particular approach to trading. You could read _How to Make Money in Stocks_ by William O’Neil too–he’s the founder of IBD.
Search your local library for other books on stock investing. Try to absorb as much knowledge and understanding as you can.
After you have extensively researched and gained a solid foundation/education then look to open a brokerage account and paper trade–this is trading with play money before you put real capital at risk. You should do extensively before you eventually place your first trade live. Your early live trades should be with a very small position size. Only increase position size when you have done well to limit losses when the market has turned against you.
References :
Investing since 1987