should a person trade stocks online?

Question

how does one know if they should trade stocks online or get mustual funds. should on just see a broker.

Answer 1

If you feel confident in your trading abilities, you should trade your own money, but if you are just starting out, I would begin with no load, low expense index mutual funds. Try the S&P500 or some broadly diversified domestic US stock index.

Go to www.vanguard.com

Answer 2

How involved do you want to be in your investment. If you want daily involvement, learn technical analysis of the stock market. Paper trade for a while. Do not try this with real money until you have learned to sell your loosers to keep your losses small and learned how to pick stocks with higher probability of being winners. It is easier to loose money in the stock market than to make money! If you do not want this type of involvement, place your funds into mutuals and let someone else get most of the profits. Having a broker will provide some guidance for stock picking, but they will be charging you an arm+leg for the service. I found out that I could do as well without them. Best of luck to you. Having luck is executing with a prepared mind.

Answer 3

I know this is and Old post, but this can be done. I was just wanting to see if anyone else tried this as I had done many years ago. I did this back In the 2000 2003 years. Most credit card companies will send you checks to use for whatever purpose. The available cash limit can be used for this purpose of trading. The problem I see with doing this today is the borrowing percentage is not like it use to be. I had used 4 credit cards this way and had some sizeable trading capital to start with. The rate of borrowing this money was 0 percent for 6 months and 8 months, after that you normal rate would apply, and you could not miss a payment or it would go up. Today's rates are different as well as the transfer fees. So you had better be making a good percentage every month. Before you I even borrowed this money I had the money to pay it back, so for a novice to do this would be suicide if they trade like they play cards. I was using the concept of OPM and using my other money for something else. It worked for me but, you had better way all the things that can happen to you when doing this. If you have no fear and can eat lead for breakfast go for it.

Answer 4

You could be the exception, but in my opinion, very few people are really qualified to trade their own stocks. Even the professionals who know what they're doing often lose money. My advice would be to use mutual funds.

Answer 5

get mutual funds through a no load company...vanguard or fidelity. do not trade online as you will lose...do not see a broker becasue he will charge you...just go with no load index mutual funds...you will gain and pay next to nothing in fees

Answer 6

I have been trading online for years. I am doing very well thank you....but you need to read before you ever get involved in this type of venture. Or, you'll be sorry you ever heard of online trading.

Answer 7

Yes.

If you need help just let me know.
I am a Portfolio Manager with over a decade of experience in the Stock Markets.

Answer 8

YES, Before you invest with anyone do research on what ever it is you are going to be buying your money in. Be a little scared but do it (After you do your research) .

Answer 9

If you are computer literate and know what you are doing without an adviser...of course, it is much cheaper than going with your adviser.

Answer 10

Doing anything online is very dangerous,especially if it involves and financial transactions, even online banking is extremely dangerous.