I'm 18, where should I start

Congratulations Joe!!

You have accomplished 2 things that the typical 18 year old has not.

1. You know the value of work.
2. You know how to save.

Many of your peers will be knee deep in debt with a house full of children before they figure that out.

Now it is time to learn how to use money to make money so that you never have to work for anyone the rest of your life.

I would suggest 3 things.

1. Read investment books voraciously. You can start with One up on Wall Street.
2. Jump in! There are hundreds of GREAT Stocks out there. Start with one. and don't be afraid to make mistakes.
3. ALWAYS do a post mortem after each trade. What did you do right, what did you do wrong... How can you improve.

Good Luck Joe. Remember you can accomplish ANYTHING you set your mind to. It just takes a little patience!! :)


Quote from joe426:

Hello,

I'm 18, have worked a lot, saved money, and want to invest it. Put yourself in my shoes, what should I do first?

Joe
More...
 
"I'm 18, have worked a lot, saved money, and want to invest it. Put yourself in my shoes, what should I do first?"


<b>quit elitetrader asap.</b>
:D
 
Quote from joe426:

Hello,

I'm 18, have worked a lot, saved money, and want to invest it. Put yourself in my shoes, what should I do first?

Some people have suggested I join something like eTrade and go from there. (obviously). But, by question to you is which stocks should I invest in. I was kind of thinking about GE, have read a bit about it and found mixed reviews.

Any advice is helpful. thank you very much.

Joe
More...

How about trying out backtesting, where you test ideas and not risk money until you are confident? Please have a look at these threads, they might help you:

http://www.elitetrader.com/vb/showthread.php?s=&threadid=104393

http://www.elitetrader.com/vb/showthread.php?s=&threadid=108534
 
Quote from joe426:

I'm 18, have worked a lot, saved money, and want to invest it. Put yourself in my shoes, what should I do first?
More...

You might consider your need to know what other people think you should do.
 
Dude - You're 18 - you got a long time to hit home runs, make mistakes, etc.

Forget well known stocks like GE, what are you going to get like 2-3 points?- at 18 - you should be hyper agressive trading upside and downside momo - If you blow up - shrug it off - you're only 18.

Look for stocks with a reason and a catalyst to move. RESEARCH RESEARCH RESEARCH If you miss the leader look for strong competitors that will be dragged up by the leader.

Look for the hottest stocks in the hottest sectors, the weakest stocks in the weakest sectors, and jump in. Just don't be the last to leave the party. Learn to read charts and look for breakouts / breakdowns. Trade with the trend and look for dips to buy / spikes to sell.

Trade options.

Forget day trading until you have mad cash. Stay at your job until you are up like 1000%.

Just freakin go for it.
 
Quote from igor00:

Hi joe.

You can open account at http://www.brocompany.com/, fund it, send me login and password private message or e-mail. I will trade. 50/50 % of profit. On trade time i will keep password secure on my side. If it is interesting for you, let's continue to discuss.
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NEVER do anything like what this person is saying!!! Don't let others have or trade your money
 
Quote from joe426:

Hello,

I'm 18, have worked a lot, saved money, and want to invest it. Put yourself in my shoes, what should I do first?

Some people have suggested I join something like eTrade and go from there. (obviously). But, by question to you is which stocks should I invest in. I was kind of thinking about GE, have read a bit about it and found mixed reviews.

Any advice is helpful. thank you very much.

Joe
More...

You need to start fucking as many hot young babes as possible. Don't spend a cent on them unless you meet one on which you can see loving for a very long time, and even then in moderation. You need to spend half your money on having memorable times. Then invest the last half in a vanguard foreign or energy-focused mutural fund. Goto college, major in Finance, go work for an IB, get two years experience, go get an MBA in High Finance, go work for Goldman and then you are all set for life.
 
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