People buy stocks based on different objectives, so you should understand your motivation for this type of investment. You can start by asking yourself the following questions:
What are your investment goals?
Are stocks a long-term investment?
Or do you want to try to make quick money in the short-term out of the stock market fluctuations?
How much risk are you willing to take?
After you have short-listed your investment ideas, such as the sectors and companies you want to invest in, it’s time to obtain a quote.
You can access quotes from an online investing platform, such as WebBroker from TD Direct Investing.
While using your online investment platform, you’ll want to get familiar with the following terms, related to the stocks you’re interested in.
Last price: the last-traded price of the security, also known as the market price.
Change: the change between current price and yesterday's closing price.
Bid: the highest price someone is willing to pay to buy the stock right now.
Ask: the lowest price someone is willing to accept for the sale right now
Volume: the total number of shares traded throughout the day
Day range: the highest and the lowest trading prices for the current day.
52-week range: the highest and the lowest that occurred over the past 52 weeks.
Now that you’re versed in some of the terms in a quote, there’s just one step left.