Where do you guys buy stocks? I've been looking into buying my stocks on Scottrade (never bought stocks before). One of their catches, as I'm sure a lot of you are aware, you must first deposit $2500 into your account before you can start buying. I'm freshly out of college and don't necessarily have $2500 to drop into this account. I've been watching a stock for the past two years and I'm ready to make my move on it. Does anyone have any advice on other places to buy stocks without depositing so much into your account? And what exactly is the point of having that much in your account to begin with? Thanks in advance!
I don't trade stocks but a quick google search nets several brokers with minimum deposits. I used to have an account with Tradeking and I believe they are 0 minimum. Just know you can't day trade stocks with less than $25,000 due to pattern day trader rules. So if you're swing trading, you should be good to go. Good luck!
When you are buying a stock you are owning an asset of a company or you can say you become a part owner of a company no matter how minute that may be. And naturally to own this asset you need to pay for it. So you need a sufficient amount of money in your trading account ( an account that is used to handle the transaction for buying and selling stocks). As you gather more experience in trading starting with a cash transaction only , you will eventually come across leverage, whereby you can control a huge amount of stocks by just having a small deposit in your account. But again stay away from leverage if you are just starting out. Cause if you are right when using leverage you will win a lot of amount, and this lures beginners, or give them a false sense and they become undisciplined and start to take huge unman-aged risk, and thats when they give all their winning back to market. And the thing is this always happens, across the globe, in all ages and in all cultures. So if you are starting out , start first by learning how to trade, before actually placing a trade. Of course you can experiment with a few number of stocks of a particular company you like. Like you can buy 1 or 5 stocks of a company and experience it for yourself. To learn how to trade i could recommend reading Trading For a Living by Alexander Elder, learning candlesticks pattern, classic chart pattern. Anyways wish you a good luck in your venture.
Are you still looking? I have live track record that I can provide, in addition to proprietary trading manuals/strategies developed and deployed to generate such track record. -matt