wanting to invest

[esa193]

i wanted to try stock trading and see how that worked out but i have no idea what to do or what the rules are or any thing
first of im 15 is there a law that says i can not own stock?
second how would i buy and mange stock online
basically im looking for a complete run down on the whole thing
like can i use paypal? do i need a bank account?
that kind of stuff

 

[compguy91]

I don't know if you can use paypal, I haven't heard of it but I do know that typically people buy stocks in bulk. They usually buy several hundred or several thousand shares. Basically the way I understand it is that you need some extra money off to the side in order to invest, and you also have to know when to buy and sell and what to buy. One of my teachers invests in stocks and uses fidelity, they might have some information that you're looking for over at their website: https://www.fidelity.com/

 

[JogaBonito1502]

My friend invests on stocks. He's 16, will turn 17 in April. He's about to put down 2grand on something, idk what. I'll talk to him and get some info for you.

 

[BrynF_UK]

you have to be 18 to buy stocks, but you can do it under your parents name if you want (and obvisouly if they agree). Normally you buy stocks through a stock broker, you can directly buy them yourself - but i dont know if there are brokers online or not. And i highly doubt you could do it with paypal, but if your parents agree to it im sure they would be ok with you using their credit-cards

 

[JogaBonito1502]

you have to be 18 to buy stocks, but you can do it under your parents name if you want (and obvisouly if they agree). Normally you buy stocks through a stock broker, you can directly buy them yourself - but i dont know if there are brokers online or not. And i highly doubt you could do it with paypal, but if your parents agree to it im sure they would be ok with you using their credit-cards

Humm...Aaron (dude I know here) buys them all the time. He's always like, man i need to buy more stocks..guess I'll have to talk to him again cuz I always thought he bought it himself.

 

[BrynF_UK]

well, im assuming he buys them through a broker, so maybe the broker wasnt fussy 'bout ID

 

[JogaBonito1502]

ha yeah. He lost a little couple days ago. he's recovering tho.

 

[mayorredbeard]

I just made my first investment a couple of days ago for intel. They're technically under my parents name even though I am of age to trade. They did it through their broker, which is what I would recommend you do. I would also recommend buying stocks that you are familiar with and have reason to expect to do well.

Like I bought $1000 of INTEL b/c of their new Penryn line which I expect to do well, as well as the Nehalem coming out in a few months which I expect to dramatically change the face of computing.

I also set rules for myself so I don't lose too much. Like if it goes below a certain amount, (for me thats $14 per share), i will sell and just cut my losses. I also made a 'rule' for myself to keep them for at least 2 months no matter how bad it does, although in all likeliness I will hold on to them for at least a year, more likely 2.