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Author Topic: i have a stupid question, sorry new here
beefcake
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i am just getting into the game and looking for a decent broker. i want to start with about 500 if it last longer than a few days i will play with another 500..just trying to build it up a little and mainly to learn. i guess you will not learn until you lose a little first..ok question

1> is penny and micro good stocks to mess with if you only want to invest a few hundred at a time.
2> which would be the better broker to use
3>where can i get tools like calculators and is reading candle sticks necessory in order to make a few bucks

thanks any info will help greatly


Posts: 187 | Registered: Feb 2004  |  IP: Logged | Report this post to a Moderator
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Beefcake,just my suggestions:
1.With your lack of experience, penny stocks is not the place to start.You could easily lose your $500 in one day.
2.No, it's not neccessary to know Candlesticks.But you should become familiar with basic chart reading and technical indicators such as Stochastics , Williams %R and other overbought/oversold indicators.
3. Do not put all your money in one
stock.Split your $500 into at least two stocks.
4.You might check out buyandhold.com for an online broker. You don't need a lot of money to open an account and you can add to it as you wish. I think they have have a plan where you pay $14.99/month for unlimited number of trades. Some brokers charge almost that much for one trade. There are some disadvantages to their plan, but the main thing is that it's cheap.
5.Don't expect too much success at first.Try for small gains until you get more experienced.
Good luck.

Posts: 217 | From: Texas | Registered: Jun 2003  |  IP: Logged | Report this post to a Moderator
   

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