Wolf Pack Inc

With the prevalence of online brokers, the access to the stock market is at an all time high.  Nearly anyone with the desire to invest in stocks has the availability only a mouse click away.  With so many people taking their investments into their own hands it is a good idea to read a short tutorial on how to buy stock.

The first step to purchasing stock is to open an account with a broker.  You can open an account with a local stock broker or find an online discount broker.  Some of the online brokers also have local “brick and mortar” branch offices so you can go in and speak with a financial advisor if that suits you.  Scottrade is the first broker that pops into my head that has many local offices located throughout the United States.  If speaking to someone in person isn’t that important to you, your possibilities for a broker are nearly endless.  There are quite a few reputable online brokers that offer full service trading to retail clients.

Once you have your stock trading account open you will have to determine what company you want to invest in.  There are professional money managers that make a career out of this step, so don’t worry if it takes you some time to make up your mind.  I usually recommend looking into a sector of the market that you have a little bit of experience in.  If you are a carpenter, take a look at some of the home builder stocks.  When you are first starting out the sheer number of companies that you can invest in can seem a little daunting.

After you have decided on a stock to buy, it’s time to make the purchase.  Simply go to the order screen on your trading software and enter a market order for the number of shares you wish to purchase.  A market order will execute immediately at the current asking price for that stock.   That’s it!  You’ve invested in a company and have tied a little bit of your money to the success of their pursuits.  It may be a good idea to read another stock market tutorial to learn about the other order types available.