Looking for a website to use for trading without undertanding trading is a total waste of time and effort. All firms charge fees, nobody would provide their services and products without some type of fees and/or charges..
Here’s a list of books you should consider, at least read half of them
Bulls Make Money, Bears Make Money, Pigs Get Slaughtered, by Gallea
How to Trade in Stocks, Jesse Livermore
Millionaire Traders, Lein & Schlosberg
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
And when you think you want to trade, try some paper trading to test your skills without spending you money http://simulatorinvestopedia.com/ http://www.moneyworks4me.com/
and/or http://www.tradingsimulation.com/
Before you enter your first order you need to address four major policies and have very strong discipline to follow them
1 - You need a written sound trading/investment plan with rules that will not only help you but more importantly protect you, mostly from yourself. Always use stops either to protect you on the down side or to lock in profits on the up side. Never trade on emotions, when emotions get involved walk away. Don’t try to out-smart the market, you’ll loose but if you always take what the market is willing to give you, you’ll be successful. Other words, you don’t trade against the trend since the market is always right. And NEVER trade on emotions, once you let emotions in your trades you will loose
2 - A written money management program is essential. Remember never invest 100% of your capital into any one security and never have 100% of your capital invested. Never go into a trade without knowing when and where you are going to get out of it. Never let a loss on a trade get greater than 8%-10%, always take you loss and walk away - don't loose more than you need to and don't be afraid to take the loss. Remember you never can get hurt taking a profit. Never average down, but you can average up.
3 - You must have sufficient trading/investment capital. Use your own money, there’s no need to go into debt so that you can trade and/or invest. Margin can be used but only with restraints, never let the account wall below 45% equity. Unless you fully understand margins you should not use it.
4 – A full and complete understanding of the rules & regulations of the industry. If your going to play in the game be sure you know the rules of the game and always follow them.
Unless you are willing to study and follow the above you will never make it as a trader. To be successful as a trader it takes work and constant study of the markets and the products traded in those markets, there is no easy way.
How does Trading Work? I can say you that take a look at this site ( http://forexsignal.kyma.info ) may be it can help you. It 's one of the best course about trading. It seems like Trading is almost totally based on Macro-economics. It also strikes me that since there are not nearly as many currencies as there are stocks/bonds/derivatives etc etc, there must be a large number of market players in each currency bracket. So logically, currencies must be very liquid true? Also, what is the risk of Currency trading, high or low? When I read the business section every day I notice that the Canadian loonie moves hardly a tenth of a cent on a regular basis (in comparison to the US dollar). So it seems like theres very little room for growth in currencies unless you leverage. On that note, whats the maximum leverage permitted for forex trading. I know in stocks its x2, and in derivatives its x10. Anyway the only way to know how to start a profitable buisness is by following some methods like the one that I suggested.
All of them are going to charge some sort of fee.
Fidelity and Vanguard are good companies and you can invest in stocks or any of the mutual funds that they offer.
You might also consider TradeKing and Scottrade.
Do a search on discount stock brokers and see what comes up.
They all charge fees. That's how they make a living. I've used Scottrade for years. They charge $7.00 per trade, be it buy or sell.
I have been looking to buy some stocks. I am new to it. I was interested in some of the online trading.
Some of them I looked at, Fidelity for example, charge fees.
Would you recommend a website for stock trading?
