Trading Stocks?
Monday, November 23rd, 2009 at
6:49 am
Sonny asked:
I want to start trading stocks, options, commodities, futures – does anyone know of any good platform for that? Please help.
I want to start trading stocks, options, commodities, futures – does anyone know of any good platform for that? Please help.
Filed under: Commodity Trading
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Start small and then build! Trying to trade everything in the laundry list of securities you laid out is a recipe for disaster. Start with stocks would be my advice, then move on into options as your experience and understand of the market grows. Then you can branch out further into commodities and/or futures if the situation warrants it. In order to actually trade, I would hook up with an online broker. Look for a mix of price as well as service to help make your decision. I like the discount brokers like Fidelity and Schwab, because they give you low costs (though not the lowest) with the best service, and a lot of great online tools to help you get started with investing. I’d check out both of their websites to see what you like.
I’d also ask one other question-why so gung ho about trading stocks? Do you already have a stable foundation of mutual funds built up? Stocks are **** but also risky…make sure you build in a safety net.
so far I like Scottrade, lowest cost for stock trading good for day traders.
however..
if you have over 25k of asset you can sign up with Bank of America Investment Services and get 30 free trade a month.
the only thing i think is expensive for Scottrade is their option per contract commission at $1.25 each contract + default $7 trade commission
You must read this article for start the trading
to start and learn try
I would suggest you to use since the educational material on the site alongwith the demo pages from the real world trade scenario are very helpful to understand and get the real feeling of online trading. I benefitted alot….!!! ..hope same for you…!!
I´ve been investing for more than 20 years and trading for almost 14, and I can tell you that if you want to make BIG and FAST profits, I recommend you trading rather than investing, trading can help you to go from rags to rich.
If you are investing, you must have already achieved some degree of financial success, long term stock investing and FOREX can help you become much richer than you are today.
My experiences as a Nasdaq Market Maker, Head trader of several brokerage firms, and currently as a professional trader and private hedge fund manager, I can suggest you that:
We trade because we want quick, short term profits on a consistent basis. We want to cash flow the market. Milk it like a cow.
Make consistent, small, short term gains rather than trying to hit a home run on every trade. Don’t ever forget that.
Don’t marry a stock, marry the idea of making money trading stocks. That’s the only way to do it.
For me “All stocks are equally worthless”
I don’t hold on to any illusion that the stock market will continue to go up and provide a nice retirement for me.
I could care less which way the market goes. It’s irrelevant to me if the market goes higher, crashes or moves sideways for the next 50 years. I really could care less. Stocks are just four letters with two prices next to them that I use to make a living trading.
Trade ONLY when you have a clear, easy and identifiable advantage, because without a CLEAR EDGE your odds of success are NO better than a flip of a coin… That´s why so many new traders (and investors) lose money.
Take a look at any daily chart of any index or stock and you’ll probably see the most volatility and the biggest opportunity for profit during the first Hour of the stock market’s opening.
The popular thinking and conventional wisdom is that you should wait about an hour before you start trading.
But if you do, you’ll miss the big, fast moves that stocks make as all the amateurs let their emotions out through their
online accounts, usually right after they read some news headline or hear Maria Bartiromo go off about a stock on CNBC.
It’s easy to see why trading the open is the market’s prime time for profiting from other online traders.
The market’s open is very volatile – that is the perfect environment for LARGE, FAST profits.
Learn to trade as a professional Market Maker ,not as an emotionally driven amateur trader or investor with few thousand dollars in an account at Etrade.
There isn’t any other time during the day or any stock you can invest in, that can make you 1, 2, 3, 5, 7 or more points
in minutes OTHER than during the first hour the stock market is open. That’s why I love trading the open so much.
I trade only when I have an edge and that means “only the first hour the market is open”.
If you are a beginning trader, you can give yourself an unfair advantage in the market trading this way.
I can carry on with the advises about how to make money trading, but if you ask me:
“What is the best thing you can do for me?
I will say:
Give yourself a BIG favor and go to this “Top Secret” site and learn how to get the BEST stocks that will make the largest and fastest day trading profits you´ve ever seen…
After you review this site you won´t need system, strategy, book, software or mentor to tell you what to do,
you will be able to profit HUGE every day.
Good luck and good trading,
Jonny