get started in the stock market guide

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How Do I Get Started in the Stock Market

How Do I Get Started in the Market to Become a Smart Investor

You must know how to pick a broker.  The most important key to any relationship particularly when it comes to money is choosing someone you can trust. A broker is a person essentially your agent in charge of your money.  The main role of a broker is to provide the investor with timely good advice on picking the right investment for you and your money.

A broker must be qualified to sell equities.  In order to be certified the broker must be educated and pass state administered tests.  Aside from the basic minimum qualifications a broker has a track record in his or her handling of portfolios. 

A smart investor will ask the potential broker about his accounts for the past five years.  Questions that require the broker candidate to discuss their investment strategy.  What picks has he or she made that turned a profit. What picks did not show gains, but losses.
If the broker works for a brokerage house and most do, ask about the clients of the firm.  

The broker is like any professional you would hire to perform a service. You are interviewing a candidate who will not only advise you on s and other investments, but someone who will take your personal welfare above all other considerations. Have a discussion with several candidates on the phone. The next step is to come up with a short list and have a personal meeting with the candidate broker. 

There are regulations and government entities that regulate brokers in every state. There is arbitration remedies for damages you may incur if the broker has acted negligently in the handling

of your account.  These are bottom line safeguards. You want to pick someone who will never place you in that position.

In your selection process for a broker keep in mind the following points:

- A referral from a friend for a broker is useful, but not the final word.

- Hiring a friend that is a broker can be problematic if a disagreement occurs.

- From the first contact with the broker does he or she act attentive and return calls.

- Does the candidate broker ask you about your comfort level in investing.

- Does the candidate broker provide you with insight into his or her investment strategy.

- Does the candidate broker's investment strategy coincide with your ideas about investing.

- Ask the broker candidate to explain limit orders and other means of protecting your investment.

Is the candidate broker forthright in telling you of in-house portfolios. Many brokerage houses have baskets of s they promote under the firms name. How has the firm's package done over the past four quarters.

When the candidate broker is speaking to you does he or she gloss over information or do you get the impression it is a sales pitch. Every broker is a sales person, but there are limits in this field.

For you to get started in the market, remember never make a decision on the spot. After your meeting with your broker face-to-face go home or back to your office to carefully consider your choices. You must pay particular attention to your gut reaction after you have left the meeting.  Ask yourself this question - is this someone you trust to carry out your wishes and provide you with sound investment choices.

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