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FlyNY wrote:

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Ive heard things about sites like trade, scottrade, etc.

Is it as easy as it sounds? Buy stock..wait till it goes up..sell it..collect the profit?

Someone please elaborate. And are these sites even worth it?

That's the foundation of the stock market. You buy shares in a company, wait until it goes up (or in most cases down,) and then sell it when you think it would be most beneficial.

Where a lot of people get confused and mess up are with all the intricacies of trading. You need expert know-how or a hell of an intuition to know when you should get out, stay in, or just not do anything at all -- and you need to know how to do those things without breaking the law or losing too much money.

Some tips to start you off:

Don't invest in small medical firms unless you know they have a product that will mean profit for you. Smaller medical companies are where the most artificial inflation/deflation or "scamming" occurs, so if I were you I'd just stay clear.

Get involved with the companies you're thinking about investing in. Some will allow you to help make decisions as far as what direction the company goes in, some will come with stock options, or any other number of benefits. Know where your money is going.

Check regularly, and pay attention to other companies in the same field(s). A big profit for them will usually mean a major loss for you, and vice versa.

Finally, buy low, sell high. Pick companies that have room for growth, and not ones that may have already plateaued (e.g. Facebook.)