[drthunder7]

I'm 16 years old and plan to start my first portolio soon. I only have about $1500 dollars to invest, so I need help on selecting a good website were the commisons wont eat up my profits. If you have any good suggestions on starting your first low dollar portfolo or finding a good online broker please help. Thanks

[Bored]

Use scottrade.com, only $7 commission. I suggest you learn more before investing.

Try reading Jim Cramer's books, they are easy to read and they explain the basic strategies.

[NYCentrepreneur99]

You can't create a portfolio with $1500. I'd recommend investing in a good mutual fund. Honestly with $1500 you really can't have any type of diversification or anything.

[drthunder7]

How much money do you need to make money in the stocks market?

[NYCentrepreneur99]

You can make money in the stock market with any amount but with a small amount of money like $1500 it's extremely risky. You could either make a lot of money or lose a lot of money. With a small sum of money and no skills, your odds in the stock market are about the same as your odds in a casino.

[Cameron]

Definetly go with an IRA, its great to earn money for your retirement. If not, go for a money market account, some banks offer 6% on your money per year (HSBC)

[drthunder7]

Thanks alot for the advise, I think I'll wait untill I have about 5,000 before I start investing

[NYCentrepreneur99]

drthunder look at it like this - the more money you have the more different types of stocks you can invest in. if you have 1500 you'd probably only be buying a company or two- basically putting all your eggs in one basket.

before you invest i urge you to read

The Intelligent Investor by Benjamin Graham

It is a fairly long book but will teach you a lot about investing in general and what your investing goals should be.

[jdoc]

Intelligent investing is a good classic book about how to invest as a value investor. Keep in mind there are other styles out there, ranging from growth investing to day/swing trading.

If you're looking for something to get started with that summarizes Graham's style as well as modern value investing, take a look at The Little Book of Value Investing.

[Hortiscape_Nursery]

Originally Posted by NYCentrepreneur99

You can make money in the stock market with any amount but with a small amount of money like $1500 it's extremely risky. You could either make a lot of money or lose a lot of money. With a small sum of money and no skills, your odds in the stock market are about the same as your odds in a casino.

Originally Posted by NYCentrepreneur99

You can't create a portfolio with $1500. I'd recommend investing in a good mutual fund. Honestly with $1500 you really can't have any type of diversification or anything.

Obviously NYC has never invested in the stock market before, or he read someones book on the how the stock market steals your money...

I'm 17 years old and I started investing when I was 15...wanna know how much I started out with? 600 bucks...that's right...wanna know what I got from that investment? A '97 Jeep Grand Cherokee Limited...Leather interior, 4WD, sunroof, V8, ok tires, ok trammy, and electronic everything w/ a digital computer screen in the midconsole...Want to know how much that cost me? $3,600(really really good deal for that car). But what I'm trying to say is that I invested $600 in PHX, it split, sold, then bought...I can't remember...another oil company...then sold and bought Biosite...oh yea the other stock was ASTA...So thunder, don't listen to people who have never made any money in the market, at least with real stocks...and don't invest in IRA's and all that other crap...although a mutual fund wouln't be a bad idea for u at first. Get one with a high "compounded" interest lvl of around 10-13%(btw, so I don't get hate mail...they do exist... ) SO thunder, don't wait unti lyou get 5 g's...do it now...lol I wouldn't have had a car if I had waited...PM me if you need suggestions...Biosite is the way to go, it's about to skyrocket...no joke, trading at 55.57 now(and that's the high for today), and you guys just wait...btw you can have a portfolio with small amounts of money...Anything more than 2 stocks is a portfolio lol...$5 bucks in McDonalds and $5 bucks in Burger King...got me a portfolio...

[NYCentrepreneur99]

Hortiscape I have been investing in the stock market since the age of 15 also. Some people get lucky, but he obviously knows nothing about investing, security analysis, etc. Telling him to throw his money in stocks without doing any research is like gambling. Stocks are obviously NOT gambling. Learn to read what I say ! You can't even afford one stock in McDonalds at $5, because one share currently trades at $45.

What are you talking about?

Btw, that car is nothing too impressive if your going to brag about how your some sort of stock market wizard you could do a lot better than that, LOL.

[freewill07]

Originally Posted by drthunder7

I'm 16 years old and plan to start my first portolio soon. I only have about $1500 dollars to invest, so I need help on selecting a good website were the commisons wont eat up my profits. If you have any good suggestions on starting your first low dollar portfolo or finding a good online broker please help. Thanks

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