Stock price is not a criteria for stock selection, except for newbies and people looking for a fire sale at an auction. You want good companies, with good earnings, growth in revenues, and you want stocks with good volume and liquidity and low risk. One single share of Google at $500 is better than 500 shares of a $1 stock that's going out of business tomorrow. If you abide by proven rules of trade, where you must limit risk and trade only stocks with good liquidity, then penny stocks are out. Forget penny stocks for now. That's a whole different world that requires advanced knowledge of how to deal with those situations.
You may get the biggest bang for your buck invested with the 20-40 price range stocks. In ownership, quality means something, it's reliable. We want winners. We don't really care what their stock price is as long as it makes me money, and only "right thinking" works.
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Once you open a brokerage account or free trial, you will have access to charts and data and scanners and additional tools and resources included with any trading platform downloaded to your computer. Everything you need in one platform; no more "online trading" through a web browser. Just download a free trial at any major brokerage firm. You won't need to fund the account. They will also have a simulator to test your trade plan. Determine your time frame and risk level, learn everything you can about risk, liquidity, and money management techniques. Incorporate stops and targets and good trading strategy into your plan. When you become consistent, you may be ready to trade real money. If you don't want to do all that, just buy and hold and index etf like the SPY or DIA.
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If you are really interested in doing this yourself, you will be learning about investing your entire life and never learn it all. Learning is a process, not some single Secret. So to think a YouTube video will give you The Answer is untenable.
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I use Scottrade - trade online but like having offices close by. I use Yahoo Finance for basic research and tracking stocks in a trial portfolio. I think one of the best websites for trading ideas is "Motley Fool" but you should not rely on one source for ideas. Read as much as you can and make your own decisions.
Good luck. My best lessons came from my worse mistakes - buying an Oregon bank that went from $28 to $2 in a couple of years as the building boom disappeared. Buying a shipping company with a high yield that sank with the decline in chartering. As long as you diversify over industries, you'll end up ahead.
Many new investors are lured to the appeal of a penny stock due to the low price and potential for rapid growth which may be as high as several hundred percent in a few days.
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Similarly, severe loss can occur and many penny stocks lose all of their value in the long term. Accordingly, the SEC warns that penny stocks are high risk investments and new investors should be aware of the risks involved but you can even make very big money. These risks include limited liquidity, lack of financial reporting, and fraud. A penny stock is a common stock that trades for less than $5 a share. While penny stocks generally are quoted over-the-counter, such as on the OTC Bulletin Board or in the Pink Sheets, they may also trade on securities exchanges, including foreign securities exchanges. In addition, penny stocks include the securities of certain private companies with no active trading market. Although a penny stock is said to be "thinly traded," share volumes traded daily can be in the hundreds of millions for a sub-penny stock. Legitimate information on penny stock companies can be difficult to find and a stock can be easily manipulated.
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Yahoo Finance does everything you ask except the brokerage. Run a mock portfolio for a year. Learn to read reports and make investment decisions based upon what your read. If you like your mock returns after a year, start putting real money in the game with any of the discount brokerages ET TDA Fid.
The secret word of trading success is "organized". You can't be successful without a strategy, a plan and some kind of technological support. I use a software called "autobinary signals" that is helping me a lot. There are plenty of them on the market. I recommend this one because it's very easy to use (you don't have to be an expert or have special skills to make money with it).
Check it out here. It's worth it: http://tradingsignal.toptips.org
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I am 20 years old and have began reading books on investing and making money in the stock market.
However i still have some questions which are the following... Thank you for your help (:
Is there a website that allows me to narrow down companies based on their stock price?
What is the best free website that contains Charts, Volumes and other helpful investing tools?
What website is the best for an online broker?
Are there any simulation games, good books, youtube channels anyone recommends?