I know nothing about buying stocks, could some one tell me what are the procedures for buying shares in the market online?
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You first have to open an account with an online stock broker like http://www.sogotrade.com ($1.50 – $3.00 online equity trades) and then buy some stocks.
This is the great article which will help you: http://ezinearticles.com/?How-To-Buy-Sto…
Open a $1000 min account and trade with the funds in your account. When you buy stocks you will need to figure the commission fees that will be taken from the account funds too. You need to fill out forms that are for IRS reporting.
You can look into an online trade company like TD Ameritrade or E trade.