i want to start investing in stocks?

Question

well i simply have about 200 to spend, im not looking to make big money right now beacuse i know 200 buks won't get me any where these days, i just want to learn see what i can do with my 200, i dont have a brokerage account or anything, where should i get one. i live in canada

Answer 1

I would recommend going to the websites of the major banks in Canada and checking out their online stock/investing sections.

For example:
Royal Bank of Canada
http://www.royalbank.com/

1. Amicus Bank
2. Bank of Montreal
3. The Bank of Nova Scotia
4. Canadian Imperial Bank of Commerce
5. Canadian Western Bank
6. Citizens Bank of Canada
7. CS Alterna Bank
8. First Nations Bank of Canada
9. Laurentian Bank of Canada
10. Manulife Bank of Canada
11. National Bank of Canada
12. President’s Choice Bank
13. Royal Bank of Canada
14. The Toronto-Dominion Bank

Answer 2

Go to any bank and as them to open a stock trading account . TD bank, nova scotia Royal bank, they all have brokerage divisions. However, you have to pen your account with a minimum cash deposit. I think it could be $1000 or $2000.

To invest $200 in penny stocks is risky. you to understand that the odds are against you. So, i would reommend that you paper trade first for a few months and then give it a shot.

http://www.pennystocksmpire.com

Answer 3

The cheapest broker I know of is called Zecco (www.zecco.com). However it's a US company and I don't know if Canadians can use it.

In general in your position look for a broker with the cheapest possible fees and comissions (you don't want to be spending $10 to buy or sell a stock when you only have $200 to invest.)

Answer 4

Percentage wise you will pay a lot of fees for investing only $200. It would be better to invest in a CD and get a fake account at any of many on line sites including fidelity, motley fool, vanguard, and others.

Answer 5

Go on line and find a mutual fund that wil take the 200, add a few bucks every week, when you get to $5000 (and you will) find another fund. Try Fidelity, Franklin-Templeton, or Vanguard.

Answer 6

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Answer 7

As volatile as the market is right now I would put that money in savings until things smooth out. Check out www.emigrantdirect.com or www.hsbcdirect.com. They are both paying better than 5% apy currently, and have no minimum balance, and no fees.

Answer 8

I see you are interested in investing in the stock markets. Start trading stocks is as simple as opening a trading account with no minimum investment amount and then picking a stock for as low as $100 and then buy. You need to buy through a broker, there are no way around this. However, that simplicity is truly the wolf beneath the sheep's skin.

There are quite a number of things you need to learn before you can even start thinking of the stock markets ...

1. You need to understand how the stock market works and what it is exactly about.

2. You need to know what are the different styles of trading in stocks and shares.

3. You need to read about why so many people lose their shirts in the stock markets so that you can avoid their mistakes and also decide if this is a risk you want to take.

For all these issues and more, you can read about them from some of the articles that I wrote at http://www.mastersoequity.com/articles.htm

After you are adequately armed with the basic concepts and ideas, you need to know how to find profitable stocks to trade or invest in. You can do that the easy way by subscribing to stock pick services (example http://www.stockpickmaster.com ) or you can learn to use charting tools and softwares to find stocks with parameters that you can pre-define. (example http://worden.mastersoequity.com/).........

Remember, the slogan "Just Do It", Just won't do for the stock markets. If profiting in the stock markets is as simple as buying a single stock , then why are so many people still poor?

After you have all the above mentioned knowledge, you need to ask the following golden questions before you can decide whether a stock is worth buying or not :

1. Why are you of the opinion that this stock will rise?

2. Is your opinion valid in the first place?

3. When are you expecting it to rise? Can you hold on for that period of time or longer?

4. What is your expected entry price? After what price would your expected profit margin be too thin to enter upon?

5. Where is your expected stop loss point? What is your stop loss point based on? Where will you tell yourself that it is time to take a loss and get out?

6. Where is your expected profit taking point? What is your profit taking point based on?

7. Does the way you are buying the stock allow you to hold on until your expected profit taking point?

8. How much of your money should you dedicate to this one trade?

9. What is the level of primary, secondary and idiosyncratic risk you are undertaking when deciding how much of your fund to use?

10. What is your cashflow need? Does your cashflow needs allow you to hold the full lifetime of the stock?

After you are able to answer all these questions confidently, THEN you are ready to... PAPER TRADE your stock strategy. Yes, even at this point, you are NOT READY to trade for real. You should trade on PAPER for at least 6 months and become consistently successful BEFORE you take your stock strategy into real life.

Then.. you are ready to start... but there is still no guarantee of success as paper trading is very different from real trading. You will need another maybe 1 year or 2 trading very little money and be consistently successful BEFORE you are ready to increase your stakes.


So, as you can see, success in the stock markets is not easy at all the the less knowledge you have, the more risk you undertake. I lost hundreds of thousands in the stock markets before I become successful.

Take heed and good luck.


All in all, investment and trading is a lifelong education and non stop learning. No one is ever done learning and catching up with changes in the markets.

If you care to read about how I went from completely broke to retired millionaire trading stocks and options by 28 years old, you can go to http://www.mastersoequity.com/


In conclusion, what I am saying here is that trading stocks and investing for profit is a professional game that takes years and a lot of money to learn, so it is not something that someone in need of college fees should do ... now.... but you should certainly start to learn about it right now.

Hope these information helps.


http://www.optiontradingpedia.com/

http://www.mastersoequity.com/

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Answer 9

Open a brokerage account first and then I will help you for FREE.