Complete Newbie

[FlipsideRM]

Hello all,

Currently a student studying Finance and want to dip into actually trading some stocks for real $.

I've read all the stickies "essentials to new trading" and "where to start", etc. I now know the lingo, have tried out a few simulators including investopedia and stockwars app on my phone.

I'm 24 and have always been a gambler on sports and a pretty skilled poker player. I know stocks are not gambling but I have always shown that I have great money management skills. I am very intrigued by everything to do with stocks. I want to deposit a small sum of about 500$ to 1000$ and start trading for real money. I feel that I will not gain full knowledge continuing on at the free simulators as I usually always learn by hands on experience(usually failing early but learning the hard way).

My questions are basically this,

What trading platform is good for simple stock trading. For example if I want to buy 20 shares of Microsoft and let it sit for a month and sell, or Nike, and so on. I have friends who use TD ameritrade, is that a viable platform? Also, what are some good sites to study and how do you guys find those golden stocks that you think are going to steadily climb? I know the basics just don't know where to do my research, etc.

Thanks

 

[Vicorka]

With $500 par trade, let's ay you may $5 commissions per transaction, then your expenses will be $10 in total (buy and sell) which is 2% from the invested $500. Furthermore you should make more than 2% on a trade otherwise you will be in red.

You should be looking for a cheapest broker. Check Traderking.

P.S. MSFT is currently around $42 per share - you will need $8K or $4K on margin to buy 20 shares...

 

[FlipsideRM]

That doesn't make sense? If Microsoft is going for 42$ a share wouldn't I only need 840$ plus whatever commissions for 20 shares? How are you getting 8k$ ?

 

[lloydbee]

TD or Thinkorswim (same thing) for sure, they have the best platform and tools and pricing is great also. Sure others might seem cheaper but often small print and or fill prices bump up those prices.

Are you 100% on share trading? why not look into other forms of trading to cut the costs of doing business down, like trading Options instead.

 

[MACTrend]

Dont Bluff

Hello all,

Currently a student studying Finance and want to dip into actually trading some stocks for real $.

I've read all the stickies "essentials to new trading" and "where to start", etc. I now know the lingo, have tried out a few simulators including investopedia and stockwars app on my phone.

I'm 24 and have always been a gambler on sports and a pretty skilled poker player. I know stocks are not gambling but I have always shown that I have great money management skills. I am very intrigued by everything to do with stocks. I want to deposit a small sum of about 500$ to 1000$ and start trading for real money. I feel that I will not gain full knowledge continuing on at the free simulators as I usually always learn by hands on experience(usually failing early but learning the hard way).

My questions are basically this,

What trading platform is good for simple stock trading. For example if I want to buy 20 shares of Microsoft and let it sit for a month and sell, or Nike, and so on. I have friends who use TD ameritrade, is that a viable platform? Also, what are some good sites to study and how do you guys find those golden stocks that you think are going to steadily climb? I know the basics just don't know where to do my research, etc.

Thanks

Bluffing is not advised when trading.
Make sure you can see the Trade.

 

[jotekfinance]

That doesn't make sense? If Microsoft is going for 42$ a share wouldn't I only need 840$ plus whatever commissions for 20 shares? How are you getting 8k$ ?

Yeah, I'm wondering the math there too?