A beginner should trade the simulator only for six months while you learn.
The Investopedia simulator is free and has several hundred "games" you can join, or start your own.
http://simulator.investopedia.com/home.aspx
http://investopedia.com
http://investedcentral.com
http://jacksteiman.com
http://bettertrades.com
http://futures.tradingcharts.com/learning/
http://winners-and-losers.com/
For stock charts:
Bigcharts.com
http://www.stockTA.com
http://www.stockcharts.com
http://www.incrediblecharts.com...
www.prophet.net
americanbulls.com
Read, study, learn
You need to do the work first, learn a few terms, read a few books, which you will have to do anyway. Go to the library, and browse through the row upon row of the subject. All of these questions will be answered as soon as you take the first step and read a beginners guide to investing.
Try to determine your time horizon. Short-term, long-term?
Take a look at charting and Technical Analysis for following trends in the markets. Why would you own a stock that is in an obvious decline?
Realize right away there are two sides to the market, not just the upside. What goes up, eventually comes down at least part way.
Learn how to analyze risk, and make this your primary approach, not by compounding profits and erroneously analyzing how much money you can make. For example, most traders don't make any money at all; more than 80% blow out.
Learn about money management techniques, and maybe you'll stick around awhile.
Try to find these books:
"Which Is Better, Buy-and-Hold or Market Timing?"
"Do You Have What It Takes to Be a Market Timer
The Beginner's Bible in Technical Analysis is:
Edwards & McGee"Tech. Anal. Of Stock Trends"
Kahn, Michael N.Tech. Anal. Plain & Simple
Kamich, Bruce M.How Technical Analysis Works
Lefevre, EdwinReminiscences of a Stock Operator
O'Neil, William J.How to Make Money in Stocks
Oz, TonyHow to Make Money From Wall Street
Rotella, Robert P.Elements of Successful Trading, The
Schwager, JackStock Market Wizards
They say "Buy and Hold" for the long term is better, but that depends on when you get in, and what your definiton of "long term" is. The phrase "Buy low and sell high" infers that you buy after a decline; but how much of a decline? If you had bought after a 1000 pt decline in the Dow in 2000, you would still be waiting to get back to even, six years later in most stocks.
How to start trading online:
http://www.bernanke.cn/stock-trade/...
http://www.stock-trading.jims-info.com/....
http://money.howstuffworks.com/......
http://www.investopedia.com/
http://sharebuilder.com/
2006-09-26 18:29:27
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answer #1
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answered by dredude52 6
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I use TD Ameritrade and really like them. They do what I ask them to do and they're easy to work with. I used to use Schwab but I found them a little heavy handed. Scott was too simplistic for me, but you might check out their web page to see. Ameritrade was simple, easy, no hassle, and had good research tools. I suggest using Yahoo to track your stocks. I like their features better than any features from the brokerage houses. I only go to Ameritrade to actually trade, and use Yahoo for daily checking. Good luck.
2006-09-26 17:52:01
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answer #2
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answered by Arnold M 4
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