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Stock Market Help please?

Stock Market Help please? Topic: Case study on marketing problem
June 20, 2019 / By Honey
Question: I am 15 and i am very interested in the stock market and I have 1000 dollars i am willing to risk. the problem is that i have no idea where to start. I need some help please. I understand that it is a gamble i need to know stuff like how to set up an account and how to buy stocks, stuff like that
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Best Answers: Stock Market Help please?

Edda Edda | 4 days ago
one big problem you have is that 15 you usually can't open stock accounts ( the reason being is that legally it is sort of like you aren't personally responsible for your decisions - so if you lost money you parents could sue the company that let you open the account - even if you swear you wouldn't sue, it won't help) assuming you aren't an emancipated minor, you can only open bank accounts (since they are considered no risk) or get a parent to open an "in trust" account for you in the law, you could sue your parents for taking the money out and spending it themselves (if you were worried about that) but as far as the legal responsibility for losses those belong to your parent (you can't sue them for buying a stock that goes down - though you may be able to if you could prove gross negligence) again I'm just throwing the details in there in case you care about the legal side of things - suing someone for 1000 dollars is stupid - unless you have a lawyer you really like and want them to have the money instead. :-) so you either wait until 18 (most places) or get a parent to open the account for you whether you wait or not - until you get more money I recommend you buy a mutual fund instead of a stock buying and selling stock means paying trading costs or commissions - these costs can be reasonably low but on a 1000 portfolio they would be significant to your expected rate of return also buying a single stock increases your risk that your investments could go to zero a mutual fund while it does have fees are based on a straight percentage of the amount invested (generally) and so the total amount of fees you pay is lower for smaller investments - not that have a thousand saved at 15 isn't excellent work - but it is considered small in the investment world you also should be better educated about investments before investing in stock- I worked for the national regulator (policing agency) for mutual funds for 7 years and my best friend from high school still works for the largest provincial regulator of stock (both in Canada) we have heard so many people describe themselves as sophisticated investors who don't know as much as you would do if you read my posts on this site in the investing section and all i've given are basic answers - no where near enough to protect yourself from the risks. you described the stock market as gambling have you ever heard the poker expression - if you look around the table after a few hands and don't know who the sucker is -it's you I'm not sure i agree that it is like gambling - but if it is then it is a very complicated game, with thousands of rules and every one of them can cost you if you don't remember how they affect the game. you are a little young, but if you are really interested in the stock market, take the course that stock brokers have to take - or at least the one mutual fund sales people have to take before they can sell to customers. in the USA stock is under the series 7 exam - but i see that it may be easier said than done to be able to register and take the exam maybe start here: http://www.investopedia.com/professional... for the series 6 which is for mutual funds and segregated funds in canada www.ifse.ca has links for the investment funds course - to sell funds or the https://www.csi.ca/student/en_ca/courses... for the stocks and bonds course of course they aren't cheap - but you could become an advisor right out of high school and the courses are easy if it interests you and you aren't terrible at math at least do some self study on investopedia before getting into stocks - they will chew you up if you don't know what you are doing
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Edda Originally Answered: Stock Market Help please?
one big problem you have is that 15 you usually can't open stock accounts ( the reason being is that legally it is sort of like you aren't personally responsible for your decisions - so if you lost money you parents could sue the company that let you open the account - even if you swear you wouldn't sue, it won't help) assuming you aren't an emancipated minor, you can only open bank accounts (since they are considered no risk) or get a parent to open an "in trust" account for you in the law, you could sue your parents for taking the money out and spending it themselves (if you were worried about that) but as far as the legal responsibility for losses those belong to your parent (you can't sue them for buying a stock that goes down - though you may be able to if you could prove gross negligence) again I'm just throwing the details in there in case you care about the legal side of things - suing someone for 1000 dollars is stupid - unless you have a lawyer you really like and want them to have the money instead. :-) so you either wait until 18 (most places) or get a parent to open the account for you whether you wait or not - until you get more money I recommend you buy a mutual fund instead of a stock buying and selling stock means paying trading costs or commissions - these costs can be reasonably low but on a 1000 portfolio they would be significant to your expected rate of return also buying a single stock increases your risk that your investments could go to zero a mutual fund while it does have fees are based on a straight percentage of the amount invested (generally) and so the total amount of fees you pay is lower for smaller investments - not that have a thousand saved at 15 isn't excellent work - but it is considered small in the investment world you also should be better educated about investments before investing in stock- I worked for the national regulator (policing agency) for mutual funds for 7 years and my best friend from high school still works for the largest provincial regulator of stock (both in Canada) we have heard so many people describe themselves as sophisticated investors who don't know as much as you would do if you read my posts on this site in the investing section and all i've given are basic answers - no where near enough to protect yourself from the risks. you described the stock market as gambling have you ever heard the poker expression - if you look around the table after a few hands and don't know who the sucker is -it's you I'm not sure i agree that it is like gambling - but if it is then it is a very complicated game, with thousands of rules and every one of them can cost you if you don't remember how they affect the game. you are a little young, but if you are really interested in the stock market, take the course that stock brokers have to take - or at least the one mutual fund sales people have to take before they can sell to customers. in the USA stock is under the series 7 exam - but i see that it may be easier said than done to be able to register and take the exam maybe start here: http://www.investopedia.com/professional... for the series 6 which is for mutual funds and segregated funds in canada www.ifse.ca has links for the investment funds course - to sell funds or the https://www.csi.ca/student/en_ca/courses... for the stocks and bonds course of course they aren't cheap - but you could become an advisor right out of high school and the courses are easy if it interests you and you aren't terrible at math at least do some self study on investopedia before getting into stocks - they will chew you up if you don't know what you are doing

Chantelle Chantelle
Yo, I'm 13 and I used to trade stocks. First of all since ur a minor, ur gonna have to open a trading account through ur guardian\parent. I would recommmend Fidelity, E trade, or Charles Shwab although thats more pricey. After setting up a custodial/gaurdian account then you can start trading. Mind you that the avg price for trades are 10-12$ per purchase so I would put alot of paper in a single trade. All in all good luck, some good companies are Apple AAPL, Exxon, and Baidu. Shop around for the brokerage account though and get the best overall deal. Hope this helps.
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Anstey Anstey
Penny stocks are loosely categorized companies with share prices of below $5 and with market caps of under $200 million. They are sometimes referred to as "the slot machines of the equity market" because of the money involved. There may be a good place for penny stocks in the portfolio of an experienced, advanced investor, however, if you follow this guide you will learn the most efficient strategies https://tr.im/4ed13
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Zach Zach
You might consider hiring a financial planner, maybe even two, and then interview them without them knowing anything about the other. They analyze what you are trying to accomplish and offer you possible solutions. The reason is that you should never get financial advice from a company that also sells stocks and bonds etc. All they want to do is sell you what they already have in inventory. Currently the market is very unstable. You may get lucky, and you may lose your shirt. I just bought a U.S. Treasury note for $5,000 that is paying 4.6% interest. $5,000 is the max you can buy and it may be interesting if your planner(s) mention this fully insured instrument.
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Sherwood Sherwood
Every investment have risk in short term when you invest your money at guaranteed return there is a long term risk but in stock market only short term risk all genius people say in long term your build you wealth not in short term.
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Sherwood Originally Answered: What is the exchange where stock is traded?
A stock exchange is like a giant flea market where people meet to buy and sell shares of stock in companies. In the U.S., there are three main stock exchanges - the New York, the American, and the NASDAQ. Each exchange offers different stocks for sale (for example, you can buy IBM stock on the New York Stock Exchange). All trading (the buying and selling) is done by certified traders (not just everyone can walk in) and orders are placed to buy and sell through a broker (eTrade, Schwab, etc.) who relays the order to the stock exchange/trader, who then tries to make the trade. There are also a number of smaller regional stock exchanges (Denver, Boston, etc.) as well as exchanges in foreign countries.

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