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online investing questions

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  1. FullTiltGrinder FullTiltGrinder is offline

    Wilton, IA
    United States

    Posts: 956
    Joined: Apr 05

    Jul 12th, 2011 (7/12/2011 4:45am)

    Figured Id start an account...got a hot stock tip from a friend.

    Where should i open an account?
    What type of account shopuld i open?
    Are there "deposit bonuses" om any sites?

    Any other online trading 101 help is appreciated.
    Edited By: FullTiltGrinder Jul 12th, 2011 at 04:51 AM
  2. edwardt1988 edwardt1988 is offline

    Posts: 2,009
    Joined: Mar 11

    Jul 12th, 2011 (7/12/2011 5:02am) in reply to FullTiltGrinder

     
    Originally Posted by FullTiltGrinder View Post

    Figured Id start an account...got a hot stock tip from a friend.

    Where should i open an account?
    What type of account shopuld i open?
    Are there "deposit bonuses" om any sites?

    Any other online trading 101 help is appreciated.

    If you aren't kidding, I'd say you stop there. If you really want to get into it, I'd suggest you get a subscription to WSJ.com online and The Economist right away. In terms of actually trading, investopedia.com has alot of great free resources.

    As a broker, there are a bunch. I'd suggest you go for a broker that has 1) Lowest cost per trade and as few maintenance fees as possible.
    2) Get a platform that is as simple and straightforward as possible. I doubt you're gonna trade anything but stocks. With no experience no reputable broker is gonna let you trade forex, options futures or any of that stuff. They might not even let you go short or trade bonds, at least in the beginning so don't be swayed by brokers that advertise platforms that let you do all that stuff. It might cost more and be more confusing for you to use. In the end, if you gain enough experience you can always switch later.

    Good luck!

    Edit: By broker I obviously mean online brokers such as TD Ameritrade, Charles Schawb, scotttrade, etc
    Edited By: edwardt1988 Jul 12th, 2011 at 05:04 AM
  3. FullTiltGrinder FullTiltGrinder is offline

    Wilton, IA
    United States

    Posts: 956
    Joined: Apr 05

    Jul 12th, 2011 (7/12/2011 5:08am) in reply to edwardt1988

     
    Originally Posted by edwardt1988 View Post

    If you aren't kidding, I'd say you stop there. If you really want to get into it, I'd suggest you get a subscription to WSJ.com online and The Economist right away. In terms of actually trading, investopedia.com has alot of great free resources.

    As a broker, there are a bunch. I'd suggest you go for a broker that has 1) Lowest cost per trade and as few maintenance fees as possible.
    2) Get a platform that is as simple and straightforward as possible. I doubt you're gonna trade anything but stocks. With no experience no reputable broker is gonna let you trade forex, options futures or any of that stuff. They might not even let you go short or trade bonds, at least in the beginning so don't be swayed by brokers that advertise platforms that let you do all that stuff. It might cost more and be more confusing for you to use. In the end, if you gain enough experience you can always switch later.

    Good luck!

    Edit: By broker I obviously mean online brokers such as TD Ameritrade, Charles Schawb, scotttrade, etc

    I was joking about the hot tip...I just thought Id try dabbling a little to learn more about how the market works.
    Thread Starter
  4. edwardt1988 edwardt1988 is offline

    Posts: 2,009
    Joined: Mar 11

    Jul 12th, 2011 (7/12/2011 5:15am) in reply to FullTiltGrinder

     
    Originally Posted by FullTiltGrinder View Post

    I was joking about the hot tip...I just thought Id try dabbling a little to learn more about how the market works.

    I figured you were. On Investopedia you can also make a free practice account and trade stocks and options. It behaves like a real portfolio, more or less, and you get to learn before you put capital at risk. Might be something you want to look into.
  5. phish42O phish42O is offline

    Houston, TX
    United States

    Posts: 3,728
    Joined: Jun 06

    Jul 12th, 2011 (7/12/2011 5:21am) in reply to edwardt1988

    Perfect time to go long!
  6. cchan cchan is offline

    Urbana, IL
    United States

    Posts: 1,784
    Joined: Dec 05

    Jul 12th, 2011 (7/12/2011 6:11am) in reply to phish42O

    etrade.
  7. Moosebabies Moosebabies is offline it's all about timing

    Fort Worth, TX
    United States

    Posts: 1,644
    Joined: Feb 06

    Jul 12th, 2011 (7/12/2011 6:14am) in reply to cchan

    1. lie about your trading experience on the application
    2. short grain futures
    3. profit

    .......or go broke
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