Congratulations! You're in for a fun ride of lifelong investing. 6.95 is actually pretty good for a trade, there are still firms out there that charge much more. The obvious strategy is that you save up and buy more of the same stock at a time to lower your average fees per share.

If you get into the etf game (which I highly recommend if you are serious about long term wealth building) there are many brokerages that trade commission free (Vanguard to name one). They diversify your investment across many different companies so you don't have all your eggs in one basket. There is a lot of great info in this thread about them.

Use us as a resource and look at this as a learning experience, there are some really knowledgeable people on here.
[Reply]

This, times infinity.
[Reply]

Bogelhead here. It's the best strategy there is IMO, but the least exciting.
[Reply]

I definitely agree, although it's not inherently bad to have a small percentage of your income in individual stocks if you feel so compelled. This should only be after you've got something like 10%+ percentage of your income going to retirement investment vehicles (401k/IRAs).

I bought my first individual stocks earlier this year as well. That's after 5 years of ramping my 401k/Roth IRA contributions up to 15%. The money I then invested in individual stocks is IN addition this amount, not in place of those investments. It's currently 6% of my total portfolio and I don't really plan to ever have individuals stocks be more than 10% of my total portfolio.
[Reply]

I'm looking to start dabbling with penny stocks to get my feet wet. I figure in the first couple of years while I learn, its the equivalent of going to the casino. Most likely I'll come out with empty pockets, but its fun...and in this case, hopefully a learning experience. And if a penny hits along the way, bonus.
[Reply]

I think that's the way to look at it. If you want to mess with individual stocks because it's fun and/or interesting, go for it. Just know that it's a game and that if you are purely looking to maximize your returns, you're almost certainly better off going the boring route.
[Reply]

Great approach. That's the way I've gone about it. I've lost thousands.
[Reply]

I only bought 7 shares of KTOS. I can't really afford much more right now.

But I will read the thread and see what I can do.
[Reply]

Yep, I'm on the boring bandwagon already. I just looked at the math on my last pay stub, and between my retirement (pension), 401k, and personal Roth (with company matching totaled in) i'm putting right at 28% of my income into retirement. So unless there is a massive market correction in the handful of years before I retire (I'm 39 now, and my rule 85 doesn't go into effect until I'm 57 at the earliest, I should be ok without needing to rely on any day trading/penny stock nonsense I may try to do on my own.
[Reply]

That was my experience with season tickets lol

I would rather put that money into something potentially meaningful now that I'm out of them.
[Reply]

That's what I'm doing. I started with $100 a few months ago and now have....uh, $27 :-)

But it isn't money I'm worried about...just learning.
[Reply]

My wife and I are on track to pay off our 30 year mortgage about 19 years early, hopefully right in time to retire at 55...fingers crossed.
[Reply]

Penny stocks are an awful idea.
[Reply]

Depending on your rate, you may not have the right goal in mind. But hey, if it gives you peace of mind or you vastly prefer it to anything else, I definitely understand.
[Reply]

Not sure I understand.
[Reply]