Anyways, if you want to become a good trader, it takes experiencing the act of trading. Granted, you need to read up and teach yourself the different methods of investing and what works and what doesn't, as well as finding a successful investor to learn from (mine is Warren Buffett), but you should start trading as soon as you can. At first, it doesn't have to be real money, however.
I use a website to learn about how to improve my investing strategy. It comes with a wallstreet simulator that allows you buy shares in real companies following the market with fake money. The website is called:
www.wallstreetsurvivor.com
Once you get comfortable and find a strategy that works for you, talk to your parents about opening up a custodial account on a real stock trading website: TD Ameritrade, Scottstrade, eTrade, Firstrade, TradeKing, etc. I am not sure if all of them offer a custodial account, but all the big ones that are already established allow you to, so that will take some research on your part.
Some sites require a minimum deposit, normally ranging from $500-$1000, and others don't. It all depends. Just make sure the website you choose matches up with your investing strategy. If you like to trade often, avoid sites that charge a high brokerage fee. If you like to trade and hold, avoid sites that charge you an inactivity fee. Before you do any of that real investing though, learn the stock market and develop a strategy. It is the best thing you can do for yourself.
"People don't lose money because investing is hard. People lose money because they don't know what they're doing."
I'm 16 and I hope to work as a stock broker, or something in the line of Hedgefunds investment banking or trading..
But I find it very hard to learn about it!
What type jobs are there in this area and what are there 'job descriptions'
How do I go about getting into that certain area ?
And finally ..where is the real money at?(end of the day I want to make money)
I heard of a guy called Anton Creel who made a fortune in trading (hedge funds I think) but I have no idea how he did it he just said he was a trader...
My aunty is one of those big wigs at a investment bank and said if I'm able for it she's recommend me for a floor job there , could you give me more info on this type of job ?thanks..
Is there anyway a 16 year old can make money through trading? (Without already being loaded)
Thanks for reading
