- 12-19-2012, 08:27 AM #1
Hey guys..Sorry if this was posted in another thread..but i have a very noob stock question.
I want to buy stocks in Nokia..i've been wanting to for a couple of months now.
My question: How would I go ahead and do that? Where would i start? What are some of the tools/companies you guys use?
- 12-19-2012, 08:40 AM #3
I suggest you study up on how the stock market works first. Otherwise you will get slaughtered. Using Nokia as an example. You have missed a golden oppertunity to get in. You should have gotten in several months ago when the stock was really cheap. It's now up almost 100% from three months ago. There will be a pullback as its rising too quickly. You may be able to get in again around earnings release.
If you are really serious about starting to invest for .... whatever .... start off by putting money into an S&P Index fund.
- 12-19-2012, 08:44 AM #4
Well, i've actually been studying up for about 2 years now. It's just that fear of jumping in cause of course, as much as I study up, i'm still a rookie. I've actually started an account with Scottstrade, but i haven't funded it yet.
- 12-19-2012, 09:01 AM #5
My father-in-law is a financial planner, and the best advice he gave me was to never invest money that you can't afford to lose because there's no such thing as a sure thing. And like everyone else said, do your research because there are A LOT of factors that go into building a strong portfolio.
As far as where to do it, check with your bank. I do mine through USAA, and the first 50 trades are free, and only like $8 a trade after that! Of course, you have to have some sort of military affiliation to get in with USAA, but it's possible that other banks have a similar policy. I don't know for sure.
- 12-19-2012, 09:10 AM #6
I use Plus 500 (trade.plus500.com), I started with their 20 free bonus, I've turned that into about 90 in less than a month. As TheJoester said, there is no sure thing and is better for you to sign up for some trading website that gives you a signup bonus so you can learn, practice and what not. In stocks and trading is pretty much like gambling, sometimes you win a lot, some other times you loose.
Hope this helps.
- 12-19-2012, 09:20 AM #7
- 12-19-2012, 09:27 AM #8
12-19-2012, 12:14 PM #9
- 85 Posts
Honestly, I wouldn't recommend buying Nokia stock at this time. The time to buy was when it was below $3 about 2-3 months ago. However, there will most definitely be a pullback, likely just before or after the Q4 financials are released.
Now I on the other hand went all in when the stock was around $2.40 and am currently looking at buying a new Porsche....:
Needless to say, NOK has been good to me....
12-19-2012, 12:49 PM #10
- 1,110 Posts
lol I bought before at 5$, then at 3$ and was scared to do anymore at $1.5... dammit!!! :D
I still feel Nokia should be double digit at some point in the future, but I would never recommend to someone else to buy it. I'm prepared to lose it all, bit a bit more than I had originally wanted but still ok.
12-19-2012, 03:37 PM #11
- 114 Posts
Certainly, there were better entry points, particularly around July 2012 when it reached the low of $1.69 (don't know what you're talking about martinmc78, when were they around a dollar in February 2011?), but I would say there is still upside to go. If you want to play it safe, then wait until after the Q4 2012 results are release in January 2013. However, your upside may be limited by then.
Definitely read, read, and read some more. Figure out your strategy that works for your goals and risk appetite. But yes, eventually, you just need to make the plunge. You will lose money on some trades, you will make some money on others. But the trick is stick to your strategy, so long as your strategy is a sound one. I suggest ignoring analyst recommendations, a lot of them are late. Don't pay attention to price targets, figure out what the company is worth in your mind, then from there, figure out how much upside is left. Start small until you develop confidence in your abilities.
Personally, I feel that NOK has more upside left it in. Even with bankruptcy fears, NOK was sitting at $5 USD earlier this year. I think the bankruptcy fears have largely been addressed, so if NOK shows solid progress on that front, I believe we'll go over $5 easy. That's a roughly 15-20% gain from here. There is another thread RE Nokia's stock that some of you may be interested in, as well as a thread about the Chinese mobile market.
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