You need to reduce expenses as much as possible:
1) Go to
www.vanguard.com and invest in their funds. I believe they will give you some basic common sense advice.
http://flagship2.vanguard.com/web/pl...Overview.html.
Vanguard is a mutual company and is owned by the people that invest in it's funds.
2)
www.freetrade.com charges 0% commissions. They make their money selling 'order flow' which I do not understand but all brokers do it. Invest in ishares, which are mutual funds you buy like stocks and have very low expenses.
http://www.ishares.com/. Try something like 50% stock funds - 50% bond funds.
3) I suggest you go to your library (also free ) and read 'A random walk down wall street'
4) I do not suggest you study the market as it is unlikely that you can justify the time you spend stock picking, which could be spent earning money, unless you have atleast $500,000.
5) Consider listening to
www.bobbrinker.com for a few months. It might be worth subscribing to his newsletter.