Okay, i've been looking into investing in the stockmarket, read many books, watched stock programs, listened to stock market cd's, talked to people, and even played stock market computer games....... I get the general idea, know what stocks are, and know i need to find a broker etc etc, but what i'm wondering....
my husband, nor i want to take a huge risk, we have no real stock market experience, i dont have much money, barely getting by, and dont want to spend alot of money, sign lenghthy contracts all over the place, and wind up getting stuck somehow.....
is it possible, just to take, $10, buy a stock, and see what happens,? get the experience? see how it goes up and down and sort of start that way? no opening up major accounts, coming up with huge investing plans, not even alot of research, just one stock at random, at $10...just for the experience...
^_^ thank you!
2007-07-16 20:47:26 · 9 answers · asked by kawaiimiyo 2 in Business & Finance ➔ Investing
I've been trying to research, and am still reading and learning, the main thing is, i guess its the actual "Buying" and "Selling" experience I'm looking for, so i know how to "Buy" a stock, and when i'm ready to sell it, i'll know how/when to "Sell" if i lose a few bucks, i have the experience, for when i'm "Ready to make a bigger investment"
2007-07-17 15:08:36 · update #1
Wow, a lot of unhelpful answers, eh?
Here's the scoop. I like what you're trying to do, to learn to trade to start to build for your future. That's great.
AND, there is no substitute for actual trading experience.
For you, I'd recommend opening an account with Scotttrade or TDAmeritrade or OptionsXpress (I think these were some of the ones that don't charge any maintenance fees.
Once there, you can use their virtual trading feature to practice investing while holding the one share of whatever you buy.
However, FYI, I would save up a little more and at least buy a quality stock to hold. Perhaps something like CROX, or AAPL, or DRYS or (PCU or PCP if you can afford a little more). It'll cost you a little more, but you'd at least break even sooner.
If you're truly looking to just see "how" to make the trade, etc, the virtual platform should suffice. You'll see screens that are close to the real ones and be able to enter many types of orders like you'd do for real.
If you have any questions, please let me know.
Hope that helps!
2007-07-17 10:19:19 · answer #1 · answered by Yada Yada Yada 7 · 2⤊ 0⤋
the cost of $10 is trivial compared to what you could learn investing... if you do a lot of research first and continue to do research on that investment and other options for future investments. If you don't have some money invested you will likely not spend any time tracking and doing research unless you make a fantasy stock purchase as part of a competition with a friend. Either way, it is better than sinking the cash in a slot machine or a cheesy pop-band CD. If you plan to just spend the $10 and not do any research, you are missing a great opportunity to avoid the financial fear that most adults face.
As mentioned you will pay a $7 or more per purchase and sale, so if you want to eventually take it seriously a $100 minimum is a more reasonable starting point.
2007-07-17 05:51:41 · answer #2 · answered by mrrosema 5 · 0⤊ 0⤋
Its a 10cents change in price, but not a 10% gain...on that scenario you would only make around $60, and from that you would need to pay 2 sets of dealing charges, and possibly monthly fees as well, depending on which broker you use.. And you need to account for the bid/offer spread which may eat up most/all of the margin thats left. I guess you may be able to increase your original 1000 if you get the timing right, but do you have the time to concentrate on it fully for such small returns? And is the stock liquid enough to be able to close out a trade immediately? Personally I think you'd be better off going for building a researched, rational portfolio to buy and hold for the slightly longer term..
2016-05-19 23:39:10 · answer #3 · answered by ? 3 · 0⤊ 0⤋
short answer: no you cannot buy one stock for $10. The reason is that you have to go through a middle man (broker) who will charge a fee for the buy.
long answer: sharebuilder.com requires no minimum balance, and charges only $4 per trade if you sign up for an investment plan. but this goes against the details of your question, so I guess I must regress to my original answer of "no"
I'm surprised that you've even asked that question, being that you've educated yourself through so many different channels.
2007-07-16 21:02:23 · answer #4 · answered by Rick D 2 · 0⤊ 0⤋
Oh, sure,
Buy 1 share of a $10.00 stock. There is a $7 fee to buy it. and a $7 fee to sell it. Plus a small SEC fee.
Unless the stock price shoots up to over $24.00 before you sell it, it you will lose money.
The rule: NEVER DO SOMETHING THAT STUPID.
2007-07-17 01:12:56 · answer #5 · answered by Feeling Mutual 7 · 0⤊ 0⤋
Save ten bucks. Pretend you own a stock and watch what it does over 5 years.
2007-07-16 20:55:10 · answer #6 · answered by Anonymous · 0⤊ 1⤋
No. Brokers are running a business and they like to make money. I doubt that you will find one willing to accept a $10 account.
2007-07-16 21:17:51 · answer #7 · answered by Mystery 6 · 0⤊ 1⤋
now for an actual answer.
yes you can. the best place to sort it out is at http://goldenbullpicks.com
they specialize in this sort of thing.
2007-07-17 06:48:00 · answer #8 · answered by Anonymous · 0⤊ 0⤋
yeah i suppose u can
2007-07-16 20:54:17 · answer #9 · answered by Anonymous · 0⤊ 0⤋