what do you recommend how much should I start with if I'm going for swing trading? And yeah I'm going to read lots of trading/investing books and do paper trading before getting my hands dirty.
Best investment is into your financial education. So many free resources online and via podcast. Spend a few bucks on some good books. Avoid the charlatans of finance. Keep saving your money and learn how to manage your money.
Till now I have read the book "How to make money in stocks by William O'Neil". I'm following his principles and according to it, I have selected 6 stocks which I'm waiting for buy point. My goal is to turn this $600 into $6000 in 7-8years. After that my medical studies would have been finished I would have more time to be an active trader. I'm interested in Swing trading/long term investing in individual stocks as it requires less time compared to day trading and yields a decent profit compounding year by year. PS next book on my read list is "Think, Trade, and Grow rich". I'm pre med student right now!
That means you need to make more than 42% a year, 4 times the return of the S&P 500. The biggest hedge funds cannot even earn half that return. I don't want to discourage you but these are the facts.
sell puts on an index or etf that your initial capital can cover. keep doing that until you get exercised. then keep it for a few years
RE: Best strategy to invest $500 A few strikes OTM equity weekly call options - such as AAPL, GOOGL, AMZN, FB, TSLA, QQQ.
I'd concentrate on doing well in med school as your income will likely outpace your market gains... at least early on. I'd likely tell you to dca into QLD and call it done but that is me. Good luck!
get a job. as for $600,,,where you get that $600? invest in things that generated your $600 most of the cash or wealth is from GDP or known as work that cash you get from the FED is fake money, nobody earned it. That cash from the FED is IOU money or debt. The FED owes money.