/biz/ I am a humble young man man wanting to make smart investments for his future via stock market trading. how do I go about getting started? I've been gathering info on here and various other websites users post when replying to some specific post but it is really quite overwhelming for someone with 0 experience in this field.
So I'm here requesting that you give me a website, a book, a magazine, a blogger or whatever that will tell me all the basics, and from the basics on to the intricacies of the stock market trading world.
And my question to you /biz/ is, how did you start out? How did you learn what to do, and what not to do?
Just get on Investopedia and read fucking everything.
If you want to invest in your future in terms of a long term buy and hold, you're best waiting until this current market volatility blows over and then look into 'index tracking funds'.
The S&P500 tracks the 500 biggest companies in the US and is renowned for stable long term growth of about 5-10% depending when you buy in. Something with a bit more grunt to it but with more risk would be the Nasdaq-100 which is much more tech heavy. The gains here are much higher per year, but again if you buy in to the market when it is overcooked, like right now, with lots of companies being overbought, you could suffer great losses in the short term. Of course, if you are holding over a lifetime, you will not notice these to a great extent because of course the economy will only become more and more technologically driven, so the Nasdaq-100 will likely keep on driving forward higher and higher.
Your total risk is mitigated in funds like this because if any one of those 100 companies busts, you still have the rest backing you up.
If you hold individual company stocks then you could stand to gain more, but you also stand to lose everything because if they go bust, they pretty much take your money with them.
This is a tiny slice of info in a great sea of knowledge, but for the vast majority of people who want to make some money in the market, this is most of what is relevant to them.
open vanguard account
give them a phone call if you want help setting it up
you will need checking account information and a minimum amount of money to put into it
set up your account
after it is set up, invest the minimum amount to open a mutual fund. If you want advice on it, I just suggest a total stock market index fund which is maximum diversity for protection.
if you have a job and get paid monthly, figure out how much you can invest a month without causing problems with bills and invest that monthly using the automation tools.
once a year (or several if you are curious) use the vanguard portfolio tools to see if you need to rebalance stuff, like adding a total bond market fund for even more safety.
then wait 20-50 years