Step by step process for buying stocks?

I'm going to start investing in the near future but before that I want to confirm that I've
understood how to go about investing in stocks.

So the steps required to buy a stock is :

research the company and understand it well, Normally stocks should be for the long time investment ..
so I should look for a stock that would multiply many times and then sell it may be 7 months-2 yrs down the line ,
when the stock price has multipied.( say for example, I bought the stock for 拢20 and I sell it after " yrs when
the stock price has become say 拢40). I've also understood that it's not adviceable to get involved in day trading
as that mostly results in losses

Having researched a company , I should open a broker account eg http://www.tdameritrade.com/trade/overvi...
2. Buy a stock and wait till the price of it increases

Am I missing out on any major steps??

I know that you wisely said that day trading is out, but there was this cartoon back when day trading was the big fad. There was a nerdy computer geek boy that fixed up a trading program for his father. The father was losing his shirt in the market when the programmer son had this discovery, "Stocks go down!?"

I remember reading of all the great things that Corning had going for it, so I bought. The news kept glowing about how well their technology and product was doing, but the stock kept falling and falling. Then about a week after I'd lost my nerve and sold it, fearing some unannounced problem, the price started going back up, and up, and up. Sometimes timing is very important.

There are the fundamentals of how the company is doing, but if the market has better things to do, your hopes and ambitions for any given company will just have to be put on hold. This is the technical aspect of trading, watching what the market is doing. As a small fish, you can't buck the current forever, sometimes you have to simply go with the flow if you want to get ahead. That is what the charts and trends and averages are all about.

Investors, in it for the long haul, into a company because they want to be a part of what the company does, they don't much care about technical issues like I had mentioned. I was more interested in what the market was doing to the price of the stock than what the company was doing with their assets, the value that the stock represents. Decide which you will be doing. If a trader, then watch the charts and trends. If an investor, you don't lose on stock prices until you lose interest and sell at a time when it just happens to be selling at less than you paid.

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Top 5 Answerer.

Hold the stock at least one yar and one day or else you pay short term capital gains-that eats up 30% of your profit no matter what your tax bracket is.