Thomas is correct that there's so many people entering the market (especially during prolonged bull runs) who have no clue what they're doing. However that alone shouldn't stop someone from entering the market - no one really knows what they're doing at first.
So Drake, I recommend doing some research before putting your money at risk. Investopedia has some helpful video tutorials that explain the market in an interesting fashion. Afterwards, I'd recommend learning fundamental analysis and basic accounting concepts. Understanding these concepts will put you ahead of many traders, which is the most important quality to possess in the market.
And to answer your questions - I have used Scottrade for over 10 years and have no complaints. As for stock selections - it all depends on the particular second of the day. I only invest in strong, undervalued companies, with preference to those that have taken irrationally low price dips. Investing in this manner will make you successful if done correctly, however it takes strong emotional restraint to constantly go against the grain.
Hey,
You should try with Penny Stocks Trading (you can find more info here: http://pennystocks.toptips.org)
Penny stocks, also known as cent stocks in some countries, are common shares of small public companies that trade at low prices per share.
I've been subscribing to this PennyStock web site for about a year now and have loved the objective advice they give. He really does look for quality stocks and I've made some pretty nice profits on a lot of his suggestions. Being still fairly new to investing I have been dabbling a lot in penny stocks to try and grow my account. I may not have a big account, but it's a lot bigger than it was a year ago. On just one of Nathan's picks this year I managed to make my investment back ten-fold! Be careful! Penny stocks are notoriously risky but if you follow the right method the risk is almost 0. I suggest to invest only little money first and then reinvest the profits. This is the site I'm using: http://pennystocks.toptips.org
Bye
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
I'm making big money with binary option, I use this software ( http://forexsignal.kyma.info ) My software delivers signals only when the five indicators (bp trend filter, market deviation, price pattern, rel. price impulse, stat. price range) are aligned together and we have an extremely high confidence rate, it must then co-exist with my proven secret strategy before a trade be detected… as a result, we get a guaranteed Highly-Accurate ’80-100%’ Signal.
Better to learn investing first.
Read a good book or three, like Investing For Dummies, and the Millionaire Next Door, available at your local library for free.
http://www.investopedia.com/university/b...
Learn how to analyze risk, and make this your primary approach. We are not in the business of analyzing an unfounded theory of compounding profits and erroneously analyzing how much money you can make. For example, most traders don't make any money at all; more than 80% blow out.
Determine your time frame; long-term or short-term? Concentrate on good trading strategy, applicable to any trader/investor in any time frame.
Develop a trade plan and test your plan rigorously on a simulator in both up and down markets. When you become consistent, then you might want to look again at trading.
Learn about money management techniques, and maybe you'll stick around long enough to learn something.
Investing
http://www.fool.com/how-to-invest/index....
http://money.howstuffworks.com/...
Before you decide to become a day trader, check out these articles, first by the SEC (Securities & Exchange Comm), second by the FTC (Federal Trade Commission, and third by the Motley Fool:
http://www.sec.gov/investor/pubs/daytips...
http://www.ftc.gov/opa/2000/05/daytradin...
http://www.fool.com/investing/small-cap/...
Getting Started In Stocks
http://www.investopedia.com/articles/bas...
Five Minute Investing: How To Evaluate A Trading Strategy
http://www.investopedia.com/university/f...
The Cardinal Sin Of Beginning Investing -- And How To Avoid It
http://www.investopedia.com/stock-analys...
it's not for you.
It takes a certain mindset to do correctly.
Simply being curious and bored is not the mindset you need. Maybe later in your life it will be the thing for you.
Your questions are typical of someone who doesn't YET have the high level of specific interest required.
best of luck to you.
Hi there looking for an experinced answer from someone who has had success with trading not someone who tried it and gave up. Im 19 i live on my own have alot of spare time it would be interesting to try. If you have had success what broker did you use? what stocks? how do you become tatical at trading?
