First post, A couple of questions.

[cavanagh]

Hi I am a 21 year old Business student, I have been interested in stocks for some time now, I have been watching the markets and paper trading form time to time. I feel I am ready to begin trading and have some questions.

First, where and how can I set up an account to be able to trade?
What is the general cost of trading?
I am from Canada how does this affect trading in US markets?
Finaly, can I buy and sell at anytime I want no matter how long I have owned the stocks?

Thank you i advance for your help and any other advice is welcome.

 

[Rhody Trader]

First, where and how can I set up an account to be able to trade?

Find a broker that suits your needs. There are any number of prospective options, and you'll find comments on most of them in the forum.

What is the general cost of trading?

You should be able to find an online broker you like that charges <$10 per trade.

I am from Canada how does this affect trading in US markets?

You'll need to find a broker that offers US market trading from a C$ account.

Finaly, can I buy and sell at anytime I want no matter how long I have owned the stocks?

Yes, though there may be tax considerations based on how long you hold.

 

[cavanagh]

Thank you for your response can you elaborate or give an example of tax considerations based on holding time

 

[Rhody Trader]

I don't know how it works in Canada, but in the US there are long-term capital gains and short-term capital gains. They get seperate tax treatment. You'll want to research the subject, and in general should understand the tax implications of trading in general terms.