OFFICIAL STOCK MARKET & ECONOMY THREAD VOL. SCHOOL'S OUT

[nikehead]

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[milestailsprowe]

Can someone please help me start trading. I want to invest in amd and rim. There are also some small bio companies I want to throw my hat into.

Who should I use?
Can I buy stocks one at a time?
What is the minimum starting amount?

 

[rightguard]

Can someone please help me start trading. I want to invest in amd and rim. There are also some small bio companies I want to throw my hat into.

Who should I use?
Can I buy stocks one at a time?
What is the minimum starting amount?

need to get a broker, check scottrade, ing, etc....

measure the pros and cons and choose the broker.

I use scottrade, 7$ to sell or buy and has a lot of great tools for research.

 

[milestailsprowe]

Is there a minimum amount I have to spend. I was looking to spread $300 around and just keep adding to the stock portfolio.

 

[cl0bro]

^I believe most brokers start up are $1000 min to open an account... I know that's how it was for my margin account... ummm cash accounts might have no minimum.. same with tfsa accounts too... If i were you I'd hold onto that $300... start practice trading with a simulator.. and build up that $300,.. and once you feel comfortable and confident open up an account and go from there... buying a single stock at a time wont bring you far with the fee's involved etc.... oh and its not so much about you having to spend a minimum.. its more so about having a minimum amount of trades per month/year that you have to follow through with depending on which broker you're with and what type of account you have.

 

[milestailsprowe]

One at time maybe not but I was thinking of doing $50-$70 of stock everytime I was looking to buy stock unless it was something Like Apple, Google or HTC

Simulator?

Minimum amount of trades per month or year?

Marginal Account?

 

[cl0bro]

^check it out... it'll explain the basics and whatnot

www.investopedia.com

 

[nikehead]

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[freakydestroyer]

I believe currency and futuresaccounts don't have a minimum, I might be wrong. But into those. Pretty sure neither need the 25k for day trading.

 

[milestailsprowe]

I believe currency and futuresaccounts don't have a minimum, I might be wrong. But into those. Pretty sure neither need the 25k for day trading.

Link me to the Futureaccounts site or currency?

Do stocks transfer over. Like I buy with Etrade then go to scotttrade my stuff moves over?

 

[nikehead]

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[nikehead]

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[milestailsprowe]

So I need to be able to freely invest 3k+ to start?

 

[wizards23]

And yes, Day trading accounts require a minimum of $25k at all time to be able to conduct day trading operations

False you can day trade with as little as $500 with SureTrader or another prop firm. They give you 6:1 intraday and 2:1 overnight.

There are quite a few ways (prop firms) around the pattern day trade rule of $25k minimum balance.

Side note, with longer term investments (3 days+) you can start an account with Merrill Edge, TD, etc with less than $1k. I started my Merrill Edge with a couple hundred bucks a few years ago.

 

[nikehead]

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[freakydestroyer]

Most of the stuff we are telling him is not even pertinent to what he wants to do. He doesn't even seem to know the difference between trading and investing. We're probably confusing him more and more.

 

[nikehead]

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[wizards23]

The key is diversification and the average portfolio should carry somewhere around 15-30 risk assets (stocks/equities) along with other grow assets, such as commodities, futures, currencies, cash and etc

Depends what your plan and goal is. Investing for growth vs trading for income...

 

[nikehead]

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[wizards23]

And yes, Day trading accounts require a minimum of $25k at all time to be able to conduct day trading operations

False you can day trade with as little as $500 with SureTrader or another prop firm. They give you 6:1 intraday and 2:1 overnight.


There are quite a few ways (prop firms) around the pattern day trade rule of $25k minimum balance.


Side note, with longer term investments (3 days+) you can start an account with Merrill Edge, TD, etc with less than $1k. I started my Merrill Edge with a couple hundred bucks a few years ago.

Yes your right, I guess I should've clarified that I was not addressing prop firm's

 
Just the major retail brokers that provide the easiest and safest access for beginning users

Yea I blew my first $5k in 2 weeks with 10:1 leverage. I was like a kid in a candy store smh. Sometimes you have to "pay" for an education. I definitely did..

 

[milestailsprowe]

OK can someone please explain purchasing power.

Thank you all for the advice so far. Reps will be had when I get back from the gym.

I just wanna build a portfolio. Learn how it goes and see how it works out. I understand the risk of rim but blackberry is still very well known and from what I read its popular in Europe especially england.

The z10 is making gizmdo who are apple fetishist say its hot. If not them then Nokia. W8 seems to be on a nice rise

 

[nikehead]

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[nikehead]

And yes, Day trading accounts require a minimum of $25k at all time to be able to conduct day trading operations

False you can day trade with as little as $500 with SureTrader or another prop firm. They give you 6:1 intraday and 2:1 overnight.


There are quite a few ways (prop firms) around the pattern day trade rule of $25k minimum balance.


Side note, with longer term investments (3 days+) you can start an account with Merrill Edge, TD, etc with less than $1k. I started my Merrill Edge with a couple hundred bucks a few years ago.

Yes your right, I guess I should've clarified that I was not addressing prop firm's

 
Just the major retail brokers that provide the easiest and safest access for beginning users

Yea I blew my first $5k in 2 weeks with 10:1 leverage. I was like a kid in a candy store smh. Sometimes you have to "pay" for an education. I definitely did..

Oh yeah when I opened my first mini forex account with Zecco, I started with $250 with 100:1 margin, I lost almost all of it, in a matter of minutes, no joke

but like you said, you live and you learn, sometime you got to spend a little bit to make something, just don't spend to much, lol

 

[wizards23]

Try something like updown.com to test your analysis over 20-50 trades. Keep a trade journal with why you wanted to enter and exit a position. Include position size, risk, profit targets, etc. Don't rush it. The market will always be there.

 

[nikehead]

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