taking "classes" and playing with the simulator is not a major help in learning about investing/trading.
The academic world does not and can not prepare for future success with investing, and the simulator is not close to reality
Here's some websites that wil help your son learn a much faster and a lot better than classes
Investors Business Daily - http://www.investors.com/store/
Investors Hub - http://www.investorshub.com/
Investopedia - http://www.investopedia.com/
Naveller - http://navelliergrowth.investorplace.com...
1 Source For Stocks - http://www.1source4stocks.com/info/stock...
Schaeffer’s http://www.schaeffersresearch.com/
Smart Money - http://www.smartmoney.com/
Trading Markets – http://www.tradingmarkets.com/
Zacks Research - http://www.zacks.com/
He should also try reading
How to Trade in Stocks, Jesse Livermore
One Up on Wall Street by Peter Lynch
Reminiscences of a Stock Operator, Edwin Lefevre
The Disciplined Trader, Mark Douglas
Trader Vic-Methods of a Wall Street Master, Victor Sperandeo
Trader Vic II-Principles of Professional Speculation, Victor Sperandeo
Trading for a Living, by Alexander Elder
Trading in the Zone, Mark Douglas
A Random Walk Down Wall Street by Burton Malkiel
Beating the Street by Peter Lynch
How to Make Money in Stocks” by William O’Neil
One Up on Wall Street by Peter Lynch
good luck on your journey and I hope your son appreciates your help, my Dad started with me when I started the seventh grade.
I don't think they will let you open up an account for a minor. And then he has to file taxes on it, and keep records...
...unless you open up a traditional IRA, and it MIGHT need to be under your name.
None of which are the questions you asked. But the real issues that jump out at me, is that he is at the right age to be learning, but NOT the right age to be self-taught. Another is that he needs to learn correct position sizing - but you can't really do that with a $300 account.
I am not looking to invest in this account as i have my own personal one (charles schwab);
I plan to just let my son run the account, do his own research, and trade for himself(16 year old)
He will use his own money on the account which is not alot. I may give him funds but i probley wont, if i do give him money; it will be 300 bucks
WHAT ACCOUNT IS BETTER FOR HIM? Both of us cant decide, he has his own MB bank account, and currently has 200 bucks balance.
Please go in depth of which one and why as he will decide based on your answers.. (His dream is to get rich) also he has investing experience, he has taking an investing class and has made good money in the simulations he has preformed, (most recent is he made 9k off of GMCR)
Here are links to the brokers
http://www.sharebuilder.com/sharebuilder/trading-pricing.aspx
http://content.tradeking.com/trading/stocks-options/online-trading.php?PV=A010-F003&split=true&utm_medium=affiliate&utm_source=cj&utm_campaign=splitter&ADTRK=ACJ20100715
