Penny Stock Online Trading
What is the cheapest online company to try basic stock buying with?
Basically, I’m in my senior year of college, and I know that after next year I’d like to be active in the stock market by investing and small time day trading. Right now though, I’m looking to make a very, very, minimal investment (or a small stock purchase) just to figure out how the online trade game works.
What I’m trying to do is put about $100 total into some form or accumulation of multiple penny stocks, and just use it to track a portfolio that has real money involved (simulators, like online poker, do nothing for me – if it isn’t real I just don’t care).
So what I’m looking for is basically a 0 minimum balance site to try out trading with, just to get my feet wet. I know I’ll take about a $15 hit per trade even for little to no stock, but its a loss I’m willing to cope with for now.
Tips/pointers/etc.? And where to start? Thanks.
The real test of your development will be when there is very little difference in your response to virtual or real money, because you are able to follow tested trading plans, knowing why you make each trade and understanding what would have increased your odds of success.
Go to the OIC web page (888options.com) and I think you can get a free virtual account with them. ThinkorSwim also has an excellent papermoney platform – as real as it gets.
Then scrounge up a few thousand dollars and use a deep discount broker to make very small and calculated trades, manage them by the book, and keep learning how many traps there are. Work with some other students who have the passion to work the problems. You guys just might graduate richer.
What you want to do is work the emotional factor down to where it is not the major player. If you’re not willing to do that, then stick with Vegas and stay out of the market. It’ll take your money quicker.
Penny Stocks online trading business
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