Any suggestions on how to start my teenager in trading?

Question

My daughter has expressed an interest in trading stocks. I would like to set up an account with about $200.00 to get her started....who do I set up the account with?

Answer 1

There is a great site, that actually pays a prize to good traders, that I strongly recommend. It also has monitored posts so that she can learn. She has to be in the top 25% to post, but she can read and learn.

www.marketocracy.com

Don't use real money until she has practiced with play money. It would be like putting a child on a bicycle without training wheels and saying good luck.

Otherwise, there are buy and hold sites for small investors, but I do not recommend them.

Answer 2

Trading can be risky. Since she is young, she can be too aggressive that she may overdo it.

Why don't you ask her to try the Internet Marketing? All she need is to pay less than $100 or perhaps more depending on the website. Actually, she does not need to do much to earn money. Even when she is fast asleep, she can still earn money. She can even earn up to $1000 or more in one day as long as she is willing to commit herself to it.

Here's the recommended website: www.simplyrichsg.com/bmb

Good luck!

Answer 3

i would start her off with sharebuilder.com depending upon the account thats open she can either pay $4 per automatic trade or get 6 trade a month free. and checout Fool.com to learn more about stocks and investing, thats what im doing i love their site its so informative

Answer 4

Open a brokerage account at SogoInvest and invest in Sony, Nintendo and Toyota.

Answer 5

I would get her a practice account first, here is one of many that are available on line.
http://www.forex.com/forex_demo_landing.html?src=Overturestock_trading
Scottrade is probably the best on line brokerage.