How to get started in stock investing?

I know I asked somewhat a similar question before but last time I wasn't specific in what I wanted. Can anyone give me any advice on getting started on particularly stock investing. I'm 16 years old and my goal I guess is to be someone like Warren Buffett. And one more question: is Robert kiyosaki's books gonna help even even if I'm into stocks because I think he's more of a real estate guy?

Public Comments

1. If you are interested in learning how great investors made their wealth...I would suggest reading Jack Schwager's Market Wizards books or tapes. He has extensively interviewed many of the worlds top traders and investors over a period of many years.

You will find that many people have used numerous divergent methods to attain wealth through investing. The key is to find something that works for YOU and fits YOUR personality.

You can watch the first 5 minutes of Jack Schwager's video DVD "Winning Methods of Market Wizards" on YouTube. Just do a search under his name.

Good luck.

2. There are many different styles,strategies and systems for investing and trading stocks.

Warren Buffet is a "Long Term" investor and uses a strategy known as Value Investing. This is a very long-term approach.

You need to assess what your goals are for making money, long term, medium or short term. Then assess your personality:

Are you a hyper energetic person who loves excitement and speed with a low patience level?

If so, then perhaps a Day Trading System or a Penny Stocks System would suit you just fine.

With this type of trading, almost a full time commitment is required.

Are you a laid back easy going person with a long-term outlook on life and has a high patience level?

Then you may be suited for a Trend Trading or a Value Investing trading system.

Or do you have a personality somewhere in between?

Perhaps then a Swing Trading or a Breakout Stock Trading system fits you best.

Knowing yourself and the type of personality you have is a key component in success and choosing your trading system.

3. You cannot sell pinballs anymore like Warren Buffet Junior did but you can sell Kinect, Move and Wii.

4. Welcome to the exciting world of investing. As you'll soon learn, becoming a good investor is not unlike trying to become a solid surfer or football player. It doesn't take long to learn the very basics, but to really get good, it takes years and years of practice, dedication and study.

Before getting into a few suggestion on how to get started, I first wanted to impart the good news. I'm glad to see that you've already succeeded at one of the most difficult parts of investing: saving money. Having the discipline to clip coupons or give up that $2 cup of coffee every morning is the first step. After all, you need money to make money.

But now that you have your savings plan in place, it's time to take it to the next level.

The first decision you have to make is: What kind of investor do you want to be? Do you think you can outsmart other players on Wall Street? Do you think you can find outstanding stocks that are being ignored by other investors? Are you willing to spend your weekends and extra time researching stocks and studying about investing? If the answers to these questions are all yes, then you are what's called an active investor. If you answered most of the questions with a no, then you're a passive investor.

5. Consider the basic principles of finding good deals