Trading: Stocks

[Auggie]

So I've got a VERY small amount to trade ( > $2,000.00 USD), but I want to get into the stock market. I'm thinking about day-trading a bit, just to get started and make a couple hundred a month (hopefully). The problem is, I don't know any places where I can trade online with that small of an amount, with low or no comission fees, and all of that.

 

Pretty much, I'm looking to make purchases of cheaper stocks (<$20.00 USD) in quantities of 100 to 1,000. Then sell the same day as prices fluxuate just the smallest bit. However, my plan doesn't have me making much per cycle -- anywhere from $40-$100 USD each cycle. So I really need to find a place with low or no fees.

 

Any good recommendations on sites to use? I appreciate your help, and hope this post is in an appropriate area...

 

Thanks

[unstatusthequo]

So I've got a VERY small amount to trade ( > $2,000.00 USD), but I want to get into the stock market. I'm thinking about day-trading a bit, just to get started and make a couple hundred a month (hopefully). The problem is, I don't know any places where I can trade online with that small of an amount, with low or no comission fees, and all of that.

 

Pretty much, I'm looking to make purchases of cheaper stocks (<$20.00 USD) in quantities of 100 to 1,000. Then sell the same day as prices fluxuate just the smallest bit. However, my plan doesn't have me making much per cycle -- anywhere from $40-$100 USD each cycle. So I really need to find a place with low or no fees.

 

Any good recommendations on sites to use? I appreciate your help, and hope this post is in an appropriate area...

 

Thanks

 

I use thinkorswim. It's a small Chicago-based company that has incredible customer service, excellent educational opportunities all over the country to learn trading, and EXCELLENT software. The company was founded by actual Chicago Board of Trade pit traders, so these guys know their {censored}. Also, talking to the trade desk for recommendations is free.

 

You'll need to find another $1,500 though. Minimum account is $3,500. Trades are cheap... they have variable rates, but the basic rate is $5 for an equity trade. options are $2.95 I believe.

 

Be very wary of other "free" brokerages that have lots of small print. Before moving to ToS, I tried Fidelity and Scottrade. Both sucked on fees, IMHO.

 

Give them a try. They even offer a free 10 day software trial to see if you like the software, which I'm sure you will as it's incredibly well built. Runs on PC, Mac, PocketPC, and Mobile Phones. Oh yeah, and web-based.

 

Forgot one thing. If you make more than 40 trades per month, they will pay your high speed internet bill. Not kidding.

 

Also, before you do any day trading, you may want to consider reading lots on technical analysis. It will really help to understand the minutia of day trading swings.

 

Enjoy!

Edited January 17, 2007 by unstatusthequo

[Guest stock-trading]

Stock Trading is more like gambling with calculated risks.

 

If you want to go into Day-Trading, I would recommend you to do a thorough research before investing into any company.

 

The time which you will put into research will actually bring the best results in terms of profits.

[rama]

If you want to do short term trading with the best results... then you need to look into trading CFD's. and you will need to utililze 'leverage' if you only have $2000 and want to make any decent money.... but the risks are high... especially in these grim times. stocks are only just starting to recover... i'd recommend looking into ForEX instead... theres always money to be made there... a much more liquid market.