New to scottrade?
I want to open a account near scottrade but im dont know much about buying or selling. A friend of mine says to buy when its low and flog when its high. But how does it work? if i buy do i have to supply right away? or how long are the stocks mine? and do i need a broker? and what are brokers for?
Answers: So. I guess you're really starting off beside very little actual " knowledge"...JUST MAKE SURE you start slowly. Opening the account is not a discouraging idea, but having no consideration of what you are getting into isn't a great plan.
See if some of this helps:
If you open the statement, Scottrade becomes your " broker"... you CAN buy stocks and/or funds without a broker .. but it's basically so much easier with one... ( all on-line, contained by most cases " instant" trading, etc ) Brokers " handle" the transaction...when you " buy" a stock they go into the market and find a street trader of the stock you want...same thimg when you sell...( and with the computer thiat accomplishment is almost instant.wasn't always like that )
Of course you want to buy low and go high...but how much ? what stock? what if it goes down? ...adjectives kinds of things happen.
If you log on to http://www.toptentraders.com you can swot a little about the process...and also find out how you would do if you did some buying and selling.
You can "buy" a stock...and you can " generate money" if the price goes up... if you then get rid of...you have made money...IF it were a unadulterated trade, yes, that is how you make money...or you can hold onto what you " bought" and the significance of it keeps going up...you own it, it's worth more, you've made money, but in lay down to collect that money you have to sell... It's resembling buying or owning a house ( or almost anything else)...you own it...it may go up in value/price...but you're freshly " sitting on it " 'til you sell it.
OH ! Everything is just the contrary if the stock you pick goes down in appeal... THAT IS WHY you start verrrrry slow when it comes to real money. ( So get that practice within at topten)
Do NOT open an account if you really suggest the way to make money is buy low and vend high. For someone like you, buy TAX FREE govenment bonds (mean you earn nearly 4-5% really risk free with no tax on your earnings). In the interim, unscrew an account with Marketocracy to revise how to invest with play money. Then visit Investopedia or Smartmoney and revise how to invest. I also recomend subscribing to a weekly IBD (Investor's Business Daily). Then in about a year of studying and research about shorts, derivatives, stradlles, spreads, bonds, etc... from your investment mistakes you can commit a couple grand or physical money. I have used Scottrade for several years, and I am satisfied
It buys and sell stocks, etc for you, but you have to do your own research
For a first investing book, try "Rule #1" by Phil Towns
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Answers: So. I guess you're really starting off beside very little actual " knowledge"...JUST MAKE SURE you start slowly. Opening the account is not a discouraging idea, but having no consideration of what you are getting into isn't a great plan.
See if some of this helps:
If you open the statement, Scottrade becomes your " broker"... you CAN buy stocks and/or funds without a broker .. but it's basically so much easier with one... ( all on-line, contained by most cases " instant" trading, etc ) Brokers " handle" the transaction...when you " buy" a stock they go into the market and find a street trader of the stock you want...same thimg when you sell...( and with the computer thiat accomplishment is almost instant.wasn't always like that )
Of course you want to buy low and go high...but how much ? what stock? what if it goes down? ...adjectives kinds of things happen.
If you log on to http://www.toptentraders.com you can swot a little about the process...and also find out how you would do if you did some buying and selling.
You can "buy" a stock...and you can " generate money" if the price goes up... if you then get rid of...you have made money...IF it were a unadulterated trade, yes, that is how you make money...or you can hold onto what you " bought" and the significance of it keeps going up...you own it, it's worth more, you've made money, but in lay down to collect that money you have to sell... It's resembling buying or owning a house ( or almost anything else)...you own it...it may go up in value/price...but you're freshly " sitting on it " 'til you sell it.
OH ! Everything is just the contrary if the stock you pick goes down in appeal... THAT IS WHY you start verrrrry slow when it comes to real money. ( So get that practice within at topten)
Do NOT open an account if you really suggest the way to make money is buy low and vend high. For someone like you, buy TAX FREE govenment bonds (mean you earn nearly 4-5% really risk free with no tax on your earnings). In the interim, unscrew an account with Marketocracy to revise how to invest with play money. Then visit Investopedia or Smartmoney and revise how to invest. I also recomend subscribing to a weekly IBD (Investor's Business Daily). Then in about a year of studying and research about shorts, derivatives, stradlles, spreads, bonds, etc... from your investment mistakes you can commit a couple grand or physical money. I have used Scottrade for several years, and I am satisfied
It buys and sell stocks, etc for you, but you have to do your own research
For a first investing book, try "Rule #1" by Phil Towns