Quote:
Originally Posted by Goooh
I'd get an app that simulates it before you just start throwing money around.
You get like $100k fake money, and play real stocks with it. Download it, and buy PHOT and see what happens. Practice with finding and predicting, then buying, and see if you're a loser without losing your money. This isn't something you want to just dive into IMO.
Or call someone that's good at it and pay them the little fee, it's cheaper than you losing out. World Tree Financial in Lafayette is spot on, Gilmo's wife on here owns it.
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This is excellent advice. I enjoy playing with penny stocks and is how I started. I made money and I lost money and learned a lot. READ READ READ!!!! Lots of good books out there. I wish I had an Ipad and the Kindle app when I started it would have saved me a lot of money. One thing you need to be aware of is how capital gains will affect you. I preach on this all the time because it burned me once real bad. As well as learning about how stocks work you also need to understand the tax issues. If you not interested in educating yourself then my best advice is to seek professional help and let them handle the investing for you. But watch them too because I've seen cases where they will eat up any profits you might make with trading fees and service charges. My Mom uses a finacial advisor and he only gets paid when she makes money. That is an excellent incentive to him to make good choices.
If you decide to move forward and invest on your own. Make decisions with your head and not your heart. Easier said than done. I get nervous sometimes and jump out to soon. Just like Gambling don't spend money you can't afford. It can become an addiction.