Open a brokerage account (online broker or full-service broker)
Choose a brokerage type (self-directed or managed/robo-advisor)
Confirm account funding method (bank transfer, wire, ACH, check)
Complete identity verification and required forms
Decide what to buy (single stocks, ETFs, or mutual funds)
Research companies or funds (business model, financials, valuation, risks)
Check fees and costs (trading commissions, bid-ask spreads, expense ratios)
Review account type and tax considerations (taxable vs IRA/retirement accounts)
Set an order type (market, limit, stop, stop-limit)
Determine order size (shares or dollar amount)
Place the trade (review symbol, quantity, price, and order type)
Monitor the trade status (filled, partially filled, canceled)
Confirm settlement and cash balance impact
Track performance and news regularly
Rebalance if using a portfolio or ETF strategy
Use risk controls (position sizing, diversification, stop orders if appropriate)
Keep records for taxes and reporting