Ok, im VERY new to stock trading. I opened an acount with optionXpress thinking that i can trade with just a couple of hundred bucks to start with and see how the process goes. i am very confused if i am alowed to do this now im confused with the margin acount of $2000 minimum. do i have to have $2000 on my cash acount to start trading? I was thinking i dont want to drop all of my money as i am new to this thing? please help.
2007-03-28 04:11:27 · 8 answers · asked by kelmadics 2 in Business & Finance ➔ Investing
I just want to have a feeling of the stock trading excitement. I want to spend a few hundreds buck just to get me started and i dont really mind if i gain or loose, its just to arouse my curiousity in these stock trading. Thats just how i start to learn.
To specify my question is it possible to trade with just a small amount of money say $500 or less? does this only work in stock trading or mutual funds?
2007-03-28 04:37:56 · update #1
Dude, I was in your same position a couple of months ago. Go to Investopedia.com and tryout there portfolio simulator. You can trade stocks just like the real thing but it isn't with real money so it is just for fun and to get the hang of it before you try the real thing. It shows you how your stocks are doing and has a ton of information for beginners to experts. I think at most brokers you have to put at least $1000 bucks in and usually at least $2000. Hope this helps and happy trading.
2007-03-28 07:09:35 · answer #1 · answered by wildpitch_20 3 · 0⤊ 0⤋
1
2016-12-24 19:55:28 · answer #2 · answered by Anonymous · 0⤊ 0⤋
I would stay away from margin accounts if you are new to investing. Margin accounts are lines of credit that you will have to pay back even if your stock tanks.
Look into a mutual fund or an index fund. It gives you the diversity you need with flexibility.
UPDATE...
Getting in the excitement is the best way tyo lose money. You should develop a strategy in your investing system. I would read up on this and learn as much as you can. I would look at it as making an investment in yourself. You will know what you earn out of that.
You can open an online account with ShareBuilder and trade for less than $500.
Good luck.
2007-03-28 04:16:54 · answer #3 · answered by R Worth 4 · 3⤊ 0⤋
You might want to take a look at http://www.top10traders.com - this is a free site that lets you create a portfolio of stocks with $100,000 in "play" money. Each day the site ranks the best performing portfolios, so you can see how your picks perform compared to other investors. You can read posts on investing from the best traders, as well as share your own investing ideas. There is a charting feature, so you can see how your portfolio performs compared to the S&P 500. Also, you can create your own "group" so that you can see how you are doing compared to your friends.
Here are this month's best traders:
http://www.top10traders.com/Top10Standings.aspx
Good luck.
2007-03-28 14:44:27 · answer #4 · answered by Anonymous · 0⤊ 1⤋
Starting with $500 is difficult. If your really interested in trading for a living checkout our website or email me for more information. We provide training by professional traders. The training can be done over the internet via yahoo IM with voice. Please be advised this should be looked upon as a career and not a game. Some of our traders have gotten started with as little as $2,000.
www.rematatrading.com
tlanzana@rematatrading.com
2007-03-28 07:43:29 · answer #5 · answered by phantomtrader2 2 · 0⤊ 1⤋
Is there an experienced Trader in your area, or is there a Stock trading course in your area...you can do either of this in your fre-time...
just learn things first..before you afford to lose your few hundred bucks..
Chris
www.forexaim.com
2007-03-28 04:28:12 · answer #6 · answered by Anonymous · 0⤊ 0⤋
I am a beginner investor myself with no prior experience.
A friend of mine recommended me to tradecaddy.com. They have a easy to understand flash tutorials as well as a visual portfolio to track your stocks. They also offer a free stock rating system to track their ideas.
You should never invest with real money until you are confident enough.
2007-03-29 09:40:47 · answer #7 · answered by activetrader999 1 · 0⤊ 0⤋
I recommend you initiate via asking for prospectus on all mutual funds attainable from American funds, examine and learn all intently and overview the history of each fund and determine to learn the hazards and the charges of making an investment . there are a number of Mutual Fund Companys such as Franklin funds and so on. additionally you are able to learn the financial organization Annual statements of any financial organization(s) you do agency with and in the two circumstances of Mutual funds and Banks you are able to learn the place they have there monies invested and learn lots from it.
2016-12-08 13:05:20 · answer #8 · answered by ? 4 · 0⤊ 0⤋
call schwab
2007-03-28 05:32:09 · answer #9 · answered by pretzel2222 3 · 0⤊ 1⤋