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When do I start getting money from stocks?
I want to learn about how stocks work in general. Where do I go to buy stocks? Where do I go to get the money I earn? Where do I deposit the money? When can I withdraw or get money from my stocks? Any other useful info and experience you've had. How risky are stocks? Do most people gain money or lose money?
- 1 decade agoFavorite Answer
They are right you start by opening a Brokerage account. The most popular choice for beginning investors is to go with an online account at a discount brokerage such as Scottrade.com (that's what I use) or etrade, etc. etrade is $10 trades which is very expensive (in my opinion) compared to Scottrade at $7. I haven't really found any other reliable brokerages that are cheaper than Scottrade. I chose Scottrade bc it is the cheapest and does exactly what I need it to do. I don't need help from brokers on what stocks to buy or when to buy, I just need a method of purchasing/selling stocks. Some might feel at home with other brokerages that provide more support or help from brokers though. (they will also pay more). You can deposit to Scottrade over the internet, you can use a service called "MoneyDirect" which just allows you to make electronic deposits from your bank account. After you have the money deposited onto your Scottrade acct u have funds available to buy stocks. If you buy a stock it is up to you when to sell it. You can sell it after a year or hold it for 30 years if you want to. But remember that, until you sell the stock, your money is at risk. As soon as you sell the stock, you get the money for it back to your Scottrade acct. The company could go out of business the next day but you would still have the money since you sold just in time. You can request a check to be sent to you from Scottrade when you want to withdraw money from your acct. This can take a few days but it's usually about 1-2 days. My inclination is to say that it's logical to assume that most people actually do make money from the stock market. If someone is consistently losing all of their money in the stock market, it seems like they would eventually stop trading on it, and most traders left over will be those who are making profit. Those who lose money are the ones who are dreaming of being "instant millionaires" by trading on the stock market. It takes a lot of work and research to play the market. You should not aspire to be an instant millionaire, and you should attempt to limit risk by choosing companies you know for sure are going to be successful. Never invest in a company you do not understand, never invest in one because someone tells you it's bound to become "huge", at least not until you have studied it yourself and determined that it is truly a good company. My post implies this, but I'll go out and say it anyway: Do not invest in penny stocks. You need to look for solid companies that are worth more than they are selling for. And don't risk money on companies you are not sure about.
- Anonymous4 years ago
1Source(s): Invest in Forex Tips http://teres.info/TheTradingCode
- Anonymous4 years ago
2Source(s): Automated Binary Trading http://netint.info/AdvancedTradingTechnology
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- 7 years ago
You should try with Penny Stocks Trading (you can find more info here: http://pennystocks.toptips.org/ )
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- 1 decade ago
If you are asking this question on here, you are heading to lose money. Find yourself a share broker who can explain it all to you. It take a lot of time and research to make money from stocks. There is an old question that goes: "How do you make a small fortune from stock trading?" Answer: "Start with a large fortune!"
- 1 decade ago
Where you go to buy stocks: By opening an account on e-trade, scottrade, charles schwab, zecco, or any of the other discount brokerages.
Where you go to get the money you earn: Any profits you make by selling stocks will be deposited in your brokerage account, which you can then transfer to your bank account or wherever...
where you deposit the money: In your online brokerage account.
When can you withdraw or get money from your stocks: you can withdraw money from your brokerage account at any time.
How risky are stocks: They are riskier than bonds and treasury bills, but not that risky.
Most people gain money from stocks in the long run.
- 5 years ago
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- 1 decade ago
You open a brokerage account. You deposit money into it. You use that money to purchase shares of a stock. When that stock rises in price enough, you can sell it for profit. Your broker website should have explanations of each type of trade (stop, limit, etc.).