Not that you asked, but your short term trading plan is insane. That world is dominated by instantaneous computer execution backed by seriously smart people. You would be a minnow among sharks. I can't imagine what you read that would make you think that is a good idea for a novice.
Here are 3 books you should read before investing anything. Should be in any decent library.
One Up On Wall Street - Peter Lynch
A Random Walk Down Wall Street - Burton Malkiel
The Intelligent Investor - Benjamin Graham
Nope
I'm debt free, have a few months worth of living expenses saved up (like most investing-for beginners sites and tutorials suggest) and I'm finally saving up money to invest. I only have a few hundred dollars to invest so far and I don't want to put it all in one place.
Originally, I had planned to do a lot of rapid, short term investing, hoping to capitalize on the small, minor stock price fluctuations stock prices exhibit on a day-to-day, hour-to-hour, minute-to-minute basis. However, most of the major online financial services I've seen charge really high, flat-rate trading commissions that would have eaten up any gains I made, and then some.
Is anyone aware of any financial service providers that charge percent-based commissions on positive gains only? I only have a few hundred dollars so far and don't want to have a large chunk of it eaten out on trading fees right off the bat.
