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I'm Pretty New To Investing - Any Advice?
I'm not a pro at buying and selling stocks and to be honest, I don't have a lot of funds to invest either. I set up an account with TD Ameritrade, mainly because there is no minimum balance or investment requirements and began toying around with their ThinkorSwim platform in paper mode (simulation)...
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In any event, I just bought 6 shares of SIRI (Sirius XM Holdings Inc) stock this morning and at close today, I made $0.06. I know that isn't much, but that I actually made money my first day makes me ecstatic. I picked SIRI because it is selling for under $5 per share, has stability as a company, and invests a ton on marketing (there isn't a week that goes by without me getting at least one piece of mail from Sirius radio), not to mention they have contracts with most auto dealerships around the country.
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I selected dividend reinvestment on my account and am going to be investing about $25 every week. I'd like to ideally buy around 100 shares of stock per company and have stock in a few hundred companies. I'm thinking of focusing pretty heavily on natural resources...
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Luck certainly plays a role, but so does keeping abreast of market news, trends and strategy. Warren Buffet has made billions in the stock market and I guarantee luck is only partially responsible.
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