I've never traded in my life but I want to learn how

Discussion in 'Trading' started by MoonDoggy, Aug 3, 2009.

  1. MoonDoggy



    As the title says, I'd like to learn how. More specifically I'd like to learn how without losing the shirt off my back in the learning process.

    I am in Canada and I'm guessing most of you are in the US. Anyhow, I am in the process of trying to pick an online brokerage to sign up with ($4.95 per trade). It has low fees however offers only 'margin accounts'.

    I'm kinda nervous of that word margin. I only want to lose the money I have invested in the brokerage account, not money that I don't have. So how do I get around this?

    I'm scared I might unknowingly put in an order (as I'm still a beginner) only to find out the next day I'm on the hook for $100K in losses !!

    I'd like to buy US stocks. From what I gather, when I place an order for a US stock, they convert the CND money in my account on margin to US dollars and buy that stock. Is that what margin is for? How do I pay that margin asap as I hear its loaned to me at 7%.

    It already sounds like a hell of a hassel.

    I have more questions about how to buy bonds of overseas corporations that pay an interest (something I'd like to do but I'm clueless as to how its done via an online broker). I'll save that for later.

    Thank you and this is my first post!
  2. Moondoggy,
    I will help you. I have been trading/investing for over 8 years. When I started out about 10 years ago, it was very hard. I bought so many books and spent 12 hours/day learning from books and internet.

    I believe that it's a service to help others. The market has unlimited amount of money for all of us to make. I'm helping a young man right now. Wow, he's only 19 and he knows so much. He started a couple of years ago and put all of his effort in learning.

    Please email me so this board won't be bored since you are still new.

    Interactive brokers charges only $1 per trade. Can you open an account with them?
  3. What's up COLD?