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Started By
Message
Best website to day trade small amounts of money?
Posted on 1/17/14 at 8:31 am
Posted on 1/17/14 at 8:31 am
I want to start playing around with the stock market a little more, but don't want to drop thousands per stock.
Is there a good software/website that lets you buy and sell stocks in smaller amounts (like $50-$500) without a transaction fee each time or at least a small one?
Recommendations?
Is there a good software/website that lets you buy and sell stocks in smaller amounts (like $50-$500) without a transaction fee each time or at least a small one?
Recommendations?
11
Posted on 1/17/14 at 10:52 am to TheCaterpillar
Why don't you just mail me a check. I'll put a bunch of nudies on a DVD and mail them back to you. At least you'll have something to show for it and you won't go crazy prematurely.
Posted on 1/17/14 at 11:19 am to TheCaterpillar
many sites have "model" portfolios if you just want to play around.
In general, get rich quick does not work long term.
Take your money and invest it for the most part.
I dabble in individual stocks and options, but most of my money is in diversified ETF's, etc.
In general, get rich quick does not work long term.
Take your money and invest it for the most part.
I dabble in individual stocks and options, but most of my money is in diversified ETF's, etc.
Posted on 1/17/14 at 11:31 am to TheCaterpillar
you really can't make $50 trades and have a chance to make money. Absolutely lowest commissions will be $5/trade. In and out will cost you 20%.
I use Fidelity ($8/trade) and like the site very much. There are cheaper ones out there, but they won't offer research, yield tracking, etc.
Nothing wrong with you getting your feet wet and learning about investing. Just know the odds are stacked against you in a big way. There are thousands of people paid big bucks using big computers to find the deals. If you think you can beat them all, go for it.
And yes, you can do it. I've beat the market consistently for the last 10 years, but that will probably result in me becoming overconfident and getting wiped out this year
I use Fidelity ($8/trade) and like the site very much. There are cheaper ones out there, but they won't offer research, yield tracking, etc.
Nothing wrong with you getting your feet wet and learning about investing. Just know the odds are stacked against you in a big way. There are thousands of people paid big bucks using big computers to find the deals. If you think you can beat them all, go for it.
And yes, you can do it. I've beat the market consistently for the last 10 years, but that will probably result in me becoming overconfident and getting wiped out this year
Posted on 1/17/14 at 12:02 pm to TheCaterpillar
quote:
Best website to day trade small amounts of money?
FWIW, you can't day trade small amounts of money without getting a letter from the SEC and getting your account frozen.
Posted on 1/17/14 at 10:02 pm to TheCaterpillar
There isn't honestly. I'd say the minimum reasonable trade to where commissions aren't a factor is at least 500. If you want to day trade I'd say more like 2000+
Posted on 1/17/14 at 10:16 pm to TheCaterpillar
I would just download the app "stock wars" and have fun. You won't lose real money and you can start with 100k. Find some friends and compete with them over a year or something for a pot of cash. You'll have more fun with that than you would losing money in the real market.
Posted on 1/18/14 at 8:09 am to TheCaterpillar
I agree with all of the points in this thread. That said, I use Sharebuilder and it's $6.95 per trade.
Posted on 1/19/14 at 8:34 am to TheCaterpillar
I did about a week's worth of research on the Dow, picked 3 stocks to get in on, and put $500 in an etrade account. I bought Alcoa, Bank of America, and something else. Maybe HP. I don't remember. Either way, I looked at how they rolled, and picked them based on being down and expected them to rise. They were like $8 to $11 a share, and one eventually hit the number. The Bank ofAm stock eventually was pulled off the exchange, and I'm still waiting for Alcoa to get there. So long story short, if you're patient or don't care about sitting there on money, you'll eventually make like a dollar or two.
Posted on 1/19/14 at 6:30 pm to TheCaterpillar
If you're talking real day-trading, it's impossible to make money on small amounts. These guys look for 1/8 or 1/4 point moves and get out. Commissions eat you up unless you trade really 5 figure money.
Posted on 1/20/14 at 12:35 am to TheCaterpillar
For a small swing trading account, check out WWW.tradeking.com
Posted on 1/22/14 at 9:35 am to TheCaterpillar
quote:
Recommendations?
The gold gurus say $3,400 per ounce within two years.
Or you could by rubles. Russia, China and India are buying gold like crazy.
Disclaimer: The above information according to Paul Craig Roberts and Jim Sinclair.
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