Best way to buy stocks

Amazon
\theta

Go to company page Amazon

\theta
Aug 23, 2020 22 Comments

Hey guys,

I am a newbie investor thinking of getting started to invest my money by buying stocks of some well-performing companies.

I want to know from experts out here about the following:
- what apps or websites they recommend for beginners? I have heard about Robinhood and Acorns - are they worth pursuing? Should I open an e-trade account and directly buy shares from there? Any other alternatives that folks have found to work better?
- how do you keep a tab on the market? is this a manual process by scanning news / stock values daily or is there any analytics out there that one can leverage as a more reliable signal?
- which stocks do folks recommend buying at present?

YOE: 2
TC: 350k
#investment #personalfinance #investments #money #stock #robinhood #finance

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 TOP 22 Comments
  • NVIDIA
    NvPaysLow

    Go to company page NVIDIA

    NvPaysLow
    When Schwab has zero dollar trades, and all the possible trade tools in the world, why do people still go for Robinhood and the likes, whose systems break down, and holds on funds last a lifetime?
    This is a serious question, am I truly missing something?
    Aug 23, 2020 5
    • Roku
      de vil

      Go to company page Roku

      de vil
      For sure. I just need a place where I can store money on long term investments. I don’t do anything but buy stocks a few times a month. So Robinhood is perfect for that since I don’t really need any advanced features.
      Aug 24, 2020
    • NVIDIA
      NvPaysLow

      Go to company page NVIDIA

      NvPaysLow
      Thanks guys. Glad to hear I'm not missing anything
      Aug 24, 2020
  • Google
    huli lifer

    Go to company page Google

    huli lifer
    The typical advice is to use an index fund, set and forget. Time in the market beats timing the market... Yadda yadda.

    Robinhood is fun. I like buying them when they're red and selling them when they're green. Most of my stock investments are in the three fund portfolio, but ~5% in Robinhood purely for fun.
    Aug 23, 2020 2
    • can you share some resources about how you choose which index fund to invest in ?
      Aug 23, 2020
    • Google
      huli lifer

      Go to company page Google

      huli lifer
      Open a brokerage account with e.g. Schwab, Vanguard, Morgan Stanley, etc. Then you can purchase their ETF's.

      Google "three fund portfolio in ${brokerage}", there are suggestions on how to set it up. The ones I know are in Schwab, e.g. SWPPX is meant to track the S&P500.

      If you're young, you might want to go 100% on stocks and just do a two fund portfolio or one fund. I was glad to have bonds throughout Covid, but I'm probably too young for bonds, so after Covid I may go to 100% stocks for ~10 years.
      Aug 23, 2020
  • Google / Eng
    6Feet6Inch

    Go to company page Google Eng

    BIO
    I’m someone you know.
     6Feet6Inch
    One piece of advice which others won’t give you here - use a platform like TD Ameritrade or E*TRADE. Don’t get on RH. All brokers offer commission free trading for shares and both these platforms are much more solid and feature-rich than RH. Also, they have better customer support.
    Aug 23, 2020 0
  • Lyft
    xxxj5

    Go to company page Lyft

    xxxj5
    Read “A Random Walk Down Wall Street” always put money into ETFs for the long term and play around with day trading and trends when they’re hot.
    Aug 23, 2020 2
    • Square
      iXpG78

      Go to company page Square

      iXpG78
      I’d like to experiment with this. When you do day trading on trends, are you suggesting to buy and hold for a super short period or how long really?
      Aug 23, 2020
    • Lyft
      xxxj5

      Go to company page Lyft

      xxxj5
      Depends on your goal. You set it and get out once you achieve it, or you’ll end up playing a hybrid game of short and long and lose out.
      Right now during earnings season you can see 20% increases on certain companies in a few days.
      Aug 24, 2020
  • Gap
    FBYe34

    Go to company page Gap

    FBYe34
    I was in same position you are 2 years ago. What i learnt is there is no way you can predict anything especially short term. Most analysts who are interviewed on TV make mistakes. Best way that worked for me is invest in market leaders like apple, MSft, google , nvidia etc. whatever price you buy their stocks its worth it long term. Donot go behind miracle shares that get hyped up on some speculation. Just my opinion...
    Aug 23, 2020 1
    • Amazon
      irunknee

      Go to company page Amazon

      irunknee
      “invest in market leaders like apple, MSft, google , nvidia etc. whatever price you buy their stocks its worth it long term.”

      Lol enjoy your dot com 2.0 bubble. Stick to VTI, you don’t know what you’re doing...
      Aug 23, 2020