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Jrod_Writer13 | I am 14 and i want to buy a stock, what should i do?!!!? |
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Angie
 |
You are not old enough to own stock yourself. I believe you have to be at least 18. However, if you have an agreeable parent, he/she can purchase it and hold it in trust for you. |
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DZ
|
e*trade and schwab both allow custodial accounts in which a minor can legally own stock. Unfortunately, you will not be able to open such an account online. You will have to call and fill out the forms via the mail. I think one of the forms requires a notary, as well.
For what it's worth: most beginners will make mistakes and lose money. Before investing any of your own money I would suggest using a paper trading system for a few months just to test out theories. This is especially important when trading options or futures where there can be huge swings in the value of the contracts. Thinkorswim has a very good system called "papermoney" available free to anyone who signs up. Simply fill out the new account information, but don't worry about funding your account until you're ready to trade for real money.
I'm a consultant who writes software that brokerages use for the settlement of futures contracts. I've found that the most successful traders, institutional and individual, view trading as sort of a video game. To them, it's not really about making money, it's about winning. It's best to learn and get into that mindset before you put anything of your own at risk. |
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barry_robbins_98
|
I would take some time and try to learn as much as you can about the stock market first. Here is a good place to start: http://www.top10traders.com - this is a free site that lets you create a portfolio of stocks with $100,000 in "play" money. Each day the site ranks the best performing portfolios, so you can see how your picks perform compared to other investors. You can read posts on investing from the best traders, as well as share your own investing ideas. There is a charting feature, so you can see how your portfolio performs compared to the S&P 500. Also, you can create your own "group" so that you can see how you are doing compared to your friends.
Here are this month's best traders:
http://www.top10traders.com/Top10Standings.aspx
Good luck. |
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sugarmemos
|
14 ?? woah(: i guess you could google it |
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Riverrat
|
Something fun like Disney. My grand kids grandparents (other side) gave them a stock when they were born. Or your favorite fast food restaurants. Try to follow your favorite brands. You know what is hot with your age group. Good luck and keep investing. You may win a few or lose but invest in your future. You are just so ahead of you peers. Always save a percentage of your earnings for investment. I wish I could follow your future. From a very happy Grandma |
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Frankie L
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Research it more. Since you are too young to open your own, have your parents open a Scottrade account. Fund it. Buy the Stock. |
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SuperCooper
 |
I opened a custodial account for my daughter at Scottrade when she was about 15. Good luck! |
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elle55407
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Talk to your parents. Do you have enough money to invest? Not positive, but I think you have to be of legal age to do so. They may have to invest for you. :( Sorry. But that's what I've heard. |
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snowballcity
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Buy a Ritas stock |
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tAYA:.
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14 years old and wants to buy a stock? omg. i dont think so. a 14 year old likes to party right? blow all ur money? be a kid. spend it. trust me. after 18, your whole life is being an adult. risk the money. dont buy a stock. |
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