Should I invest in stocks? How do i go about it?

ps3home

Hi all, im 25, self employed and don't have a hudge budget to invest.

My question is where should I start? Can money be made fairly quickly from stocks? Which are the best to go with? Etc.

I've been thinking about buying some stocks, but now sure where to start, or if it's advisable or not. Also what are the best trading platforms for uk?

Thanks

innovate

Start with doing a bit more research on this board. When you have found the relevant threads , you will find that the recommendation is to do a lot more research so you can make your own decisions rather than jump onto something a bunch of strangers said on an internet forum.

pqrdef

That's like saying you should pick your own horse instead of going with a tip. It's only a recogntion that everybody else is as useless at picking winners as you are.

It would be silly to think we can beat the experts on expertise. If we can beat the experts, it's only because there's no science in it at all, so no such thing as expertise.

Of course we all know how to make a small fortune on the stock market.

MoneySaverLog

pqrdef wrote: »

Of course we all know how to make a small fortune on the stock market.

That's easy do the opposite of what 99% of the rest of the losers do.

A_Flock_Of_Sheep

I am probably in the same position as you. I say first you need to establish what your stocks are going to do for you. Is your aim capital growth? For me I am interested in income generation with some capital growth.

Get a copy of Tim Hales book Smarter Investing.

robatwork

Money can be made quickly and lost more quickly.

It's gambling - you do get that?

Best thing is to invest where you know. If you're interested in hydrocarbons say, and know a great startup that's about to strike it rich, then get in there early.

And I love how you rhyme huge with budget!

jabba42

When I buy it is time to sell that is for sure. I am a terrible picker.

atush

First of all, have you saved a cash emergency fund of at least 3 months spending?

Have you been paying your Nics?

Have you opened a private pension (or if you are trading as a LC have you set up a pension with yoru company paying the contribs)?

As a newbie, you should do some research. And look into the difference in risk between 'shares' or in fact collective investments such as funds or investment trusts. Also look into lifestyling products such as Vanguard. Portfolio building, sector allocation, and pound cost averaging.

If you pay tax, it would be best to invest into a S&S isa.

robtgossard

I can only speak from my experience; stock markets can trick even the pros into making losses. If you are bent towards making investments, I suggest look for long-term avenues that allow you to easily liquidate your investment, like precious metals.

ColdIron

robtgossard wrote: »

I suggest look for long-term avenues that allow you to easily liquidate your investment, like precious metals.

This suggestion is inappropriate to the OP's circumstances, ignore it (and I say that as a goldbug)

jimjames

pqrdef wrote: »

Of course we all know how to make a small fortune on the stock market.

Easy - start with a large fortune and trade regularly using all the tips you can find!