[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 1.82 MB, 1590x818, stock-chart-blue.png [View same] [iqdb] [saucenao] [google]
624657 No.624657 [Reply] [Original]

Hi /biz/. I would like to trade stocks but I am an absolute beginner. How do I start? What do I need to know to get started? Thanks in advance. I currently only have $300 so I'm wondering which investment I could do to turn a quick profit.

>> No.624666

>>624657
You have the wrong goal in mind. Get a job first and use that 300 to buy some books.

>> No.624669

>>624666
>buying books instead of torrenting them.

>> No.624671

>>624666
Makes sense. But what would I study? I would really like to earn a nice amount of cash in the stock market. I've been interested in the stock market and investments since I was a kid.

>> No.624684

>>624671
Bump

>> No.624701

Join a stock market game and play for a year on the easy modes. Read up on finance books and study what makes the market bearish it bullish. Don't jump in it for a quick buck because you'll sooner get chewed up and spit out than be anywhere near the black

>> No.624716

>>624701
Thanks! Great advice. Any stock market games you would recommend?

>> No.624724

Go to marketwatch.com/game, you can make your own game or join in on others for free. I think there's a /biz/ game going but I can't remember

If you're truly interested, the rabbit hole goes a lot deeper than just numbers

>> No.624734

>>624724
I understand. Thanks for the very solid advice.

>> No.624748

>>624671
It will not be possible starting with $300.

>> No.624752

>>624748
I see that. What capital would be recommended to start?

>> No.624758

>>624669
>>624666

>Thinking a book will make you a better trader

Trading is a skill and career. It's not a hobby. Do you read a book to become a doctor? Do you read a book to become an athlete?

>> No.624772

>>624758
people are going to tear this post apart but its so true. you can read every "biz approved" book but at the very best none of them will give you a single minute of experience and at the worst they will cause you to pick up losing habits because you don't have the experience to understand why they are losers.

>> No.624775

>>624752
Starting with $5,000 should be an absolute minimum, if you don't want to get burned by fees (and earn more than $2 per month). And you have to have a secure source of income first.

What profit do you expect to make each year, and do you want to trade all day for a living? or just buy and sell from time to time?

>> No.624777

>>624775
I really want to learn. And if I learn well enough, I would like to proceed from there on.

>> No.624781

>>624758
>Do you read a book to become a doctor?

You've got to read quite a lot of books to become a doctor, yes.

>> No.624790

>>624758
lol @ the doctor part but yeah this is true to an extent. I think reading about TA and things of that nature might help an actual trader and reading about FA would help an investor.

Just like athletes study game film, it's a good thing to actually have an idea of what you need to do.

>> No.624791

>>624781
Lol

>> No.624813

>>624777
Some things can only be learned with experience. To acquire this experience, you still need a lot of money, because even $50,000 won't be enough if you want to make a living out of trading. With 20% yearly returns (which would be excellent), that's $833 per month you get. Not stellar.

>> No.624817

>>624813
I really wonder how Warren Buffett did it.

>> No.624831

>>624817
He did it with other people's money, of course.

>> No.624838

>>624831
Are you suggesting he's sleazy? Surprisingly to me, when Berkshire Hathaway started, it went for a mere $19.00 a share, now, it goes at $223,751.00/share. Something doesn't seem too right there.

>> No.624921

>>624838
Nothing shady, the goal of a financial company is to attract and use other people's money.

>> No.625179

try out a virtual stock market first

>> No.625739

>>624758
>What are textbooks?

This is sadly a very ignorant post. Every profession has books you can read to become better at it. Yes, even athletes. You can read books to become a physicist, you'd do the same to become a linguist.

I don't think anyone is suggesting to read books exclusively. Obviously the practice it just as important. Clearly the books are just an introduction, and then, after experience, can supplement you with information.

>> No.625771

Been lurking biz for about a week now, completely green as far as economics and especially securities trading goes, but I have a question

Does biz have an FAQ or wiki like fit does for exercise? If not, is it just a lack of contributors/a science of too many opinions and not enough fact? I'd be willing to help organize an info dump just because it would help me learn as someone with a lot of interest in investment but little actual knowledge. I feel like if we had a circulating info dump it would trim a lot of these "how do I do x to get money" threads.

>> No.625798

>>625771
bump? I guess the lack of response kind of answers my question though

>> No.626695

>>625771
>>625798
Lol you're implying most of the shitposters that make up this board actually know a damn thing about finance or business and aren't just 13 year olds trying to tell everyone they're rich and calling every other poster pleb.

>> No.626700

>>625771
There's already Investopedia and other stuff for this.