I am a complete novice -- I know I wanna purchase small caps -- I only have a few hundred dollars and want to know where and how to start.
I think a board for ABSOLUTE DUMMY basic questions - -IE -- Where can I buy this stuff at and how much does it cost to trade these MICRO stocks??? - would be a start.
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You have a long road to travel and much to learn. You must read book boards, some financial statements and anything else you get your hands on. Learning to read charts is a must. A man that can read can educate himself. The market is not a get rich quick deal, do not get greedy. The market is a gamble, do not bet more that you can afford to lose. Read these boards thoroughly, you will learn much. I still read three to four hours a day.
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You should paper trade before you get a broker. Go to a library see if you can find a book by Ted Warren, this is a very good first book to read. Most brokers at a minimum to open an account, so you should at least $500 to start with. But you won't have to worry about that it'll take you six months before you get started. As I said before read the boards, talk to people who are in the market.
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quote:Originally posted by tvance: I have a TON of questions!
I am a complete novice -- I know I wanna purchase small caps -- I only have a few hundred dollars and want to know where and how to start.
I think a board for ABSOLUTE DUMMY basic questions - -IE -- Where can I buy this stuff at and how much does it cost to trade these MICRO stocks??? - would be a start.
thanks tv
Read books period... much easier.. and it wont take you 6 months as suggested.. depends on how eager of a learner you are and how fast you learn... papertrading is suggested but not necessary.. I would suggest you start with $1,000 instead of $500 and dont trade in micro caps (suggested broker is Choicetrade.com).. at first at least.. try stocks that are between $1 to $5 per share.. more stable and less pumper/dumpers ... below are book suggestions..
A Beginner's Guide to Short-Term Trading by Toni Turner www.toniturner.com
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