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Originally Posted by MrPrena
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Originally Posted by BMW..
I'm a college kid with little to no experience in stock trading with a few 1000 to invest in. I suggested that my parents invested in intel, Johnson Johsnon, and Mattel and made a nice profit from it! Do any of the more experienced guys have any tips they can share with a noobie? Thanks fellas
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$1000 is enough to start. Make this a learning experience first.
I started with 3000 when not too many people even knew what Datek was. I learned more from investing/trading than 1/2 of my educations combined.
I. Finding a good discount brokerage firm.
1. Look for lowest deposit requirement firm. Some may require fees under x amount. Avoid the fees.
2. Good reliable trading platform/brokerage. Some even have a CNBC on the platform. When I get bored, I just go to Starbucks and watch the CNBC.
3. Cheap commission.
II. Do your Homework.
1. HW on Fundamental/Technical/Economic Indicator may reduce systematic risk. However, sheepies even know how to do all that. Look at the future, not the TTMs. Recalculate the fundamentals based on what they WILL have.
2. There are some speculations involved, but some are really no brainer. M&A speculations are easy, but timing it is not.
III. Self control
1 Learn how Options trading works. Options trading is important factors.
2. Margin? I prefer not, but some do like having a margin.
3. Don't be greedy. "umm, when it reaches 100. Ummm when it reaches 101." |
Do you have any suggestions for e-brokers, like etrade, interactive brokers, trade monster etc etc?
I've been watching for a few years and I'm ready. I was set to get going with my brother but he recently passed, so I got a little set back but now I really am determined to dive in.