Money Forum World

Corvette · Joined: 08 Nov 2007 Posts: 2115

im 15 and I'd like to purchase some stock market to make some extra money. I looked in stock markets and trying to learn more about it but I don't know how to purchase it. somebody help me.

Angela Skinner · Joined: 08 Nov 2007 Posts: 2152

If youre going to do your research, find a local discount broker. If you dont know what youre doing, go to a full service broker. but, be cautious when they tell you to sell. They get comissions on everything.

Travis13 · Joined: 08 Nov 2007 Posts: 2152

I dont think you may be able to purchase stocks legally. Own them, yes, purchase them, no. but, you may have your parent or guardian set up an account for you and do the purchasing and selling. Id recommend a discount online brokerage like ETrade or TD Ameritrade.

The next question is: What are you going to invest in? Individual stocks, mutual money, or ETFs? Which ones?

All I can say is, be cautious. You have to pick really good securities, then wait. Wait to purchase it when everyone else wants to sell it, and sell it when everyone else wants to purchase it. Hopefully, the security is good enough so that you may hang onto it for many years without selling it.

endo · Joined: 08 Nov 2007 Posts: 2081

&gt,&gt,im 15 and I'd like to purchase some stock market to make some extra money.

Do you really think you could just purchase some stocks and start making money? you're asking for a money making machine. Stocks aren't money making machines. Central banks are money making machines, but you cant purchase those. Nobodys selling.

If you track the price of a stock over its lifetime which usually isn't as long as a human lifetime, you could find that it goes up for a while, then either crashes it was a shell operation or fake or it takes an up and down path for a while, with a slight upward bias,, then it crashes when the company goes bankrupt.

How do you KNOW when it's going to go up? How do you know it wont go down? Do you think the Wall Street Journal will tell you?

Now everyone may be rich. famous quote before 1929 crash and great depression .

Even if markets go up, they dont essentially go up as fast as the money loses value. If you had bought the Dow Industrials in 1970 and held them till 1980, you could have lost money but to add insult to injury, your purchasing power could be less than half what it was in 1970.

If you had bought the Dow in 1929, it could have taken 20 years to break from your losses.

To answer the question that you asked: you cant purchase them directly, at least not in the USA, since you aren't of age. you may be able to have one of your parents set up an UTMA/UGMA account for you at a stock broker like Scwhab or TD Ameritrade. The money will be yours but your parent could be the trustee.

One more warning: while stocks aren't crashing now, because an organization called the Plunge Protection Team is keeping it from crashing, that doesn't mean that they're CHEAP and prepared to soar in price.

The richest man in the world once said the time to purchase is when there's blood in the streets of Paris that means, purchase stocks when nobody else WANTS TO, like say Tuesday morning after Black Monday in 1987 . now, too many people, like you WANT TO, thinking that they'll get rich spending money.

Mallory R · Joined: 08 Nov 2007 Posts: 2113

You are way too young. Wall street is full of people that will do anything to take your money. Youd just be an easy target.

P.S. I used to do it for a living