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A lot of people do and think just like you.They think they have to wait until they have a lot of lose cash around. You should not wait, start today. You can start with a very small amount to open a account and start putting a monthly amount you feel comfortable with; example $50 and set it up so it comes out out every month automatic from your checking account. This way you will not miss it and if you have some extra money some months, you can add that also. $50 you probably spend that every month on something you can do without. You will be surprised on how fast that will grow.
Investing little by little this was is really a good idea. Even more so in that it is "out of sight" with small amounts into the market each month, week, or every other week it is not worth the time to try to "time the market." Now if you are investing a large sum then planned entry and some market timing is the way to go.
that's true..though I personally prefer keeping my account to a minimum of $5,000. I found it pretty difficult for me to make profits when I only bought 100 shares of a stock, due to low budget..and commission was costly too...
that's true..though I personally prefer keeping my account to a minimum of $5,000. I found it pretty difficult for me to make profits when I only bought 100 shares of a stock, due to low budget..and commission was costly too...
$5,000 is exactly enough to start trading with. Invest in only one stock at a time and use a good discount stock broker with low commissions. View the broker comparison chart on the site here at STTG to help you find a good one,
$5,000 is exactly enough to start trading with. Invest in only one stock at a time and use a good discount stock broker with low commissions. View the broker comparison chart on the site here at STTG to help you find a good one,
I disagree with that. With $5k you should buy mutual funds or ETFs. If you want to invest in individual stocks then you need more then that because you need to split your money between at least 10 stocks.
If you believe in heavy diversification then yes but with 10 stocks in a $5k portfolio you will be eaten alive by trading commissions.
Within our stock education articles area we have a piece that breaks down proper allocation for new investors. Our belief stems from William O'Neil and CANSLIM trading which is one of the most widely traded and successful strategies available. Here is a link to the article,
If you believe in heavy diversification then yes but with 10 stocks in a $5k portfolio you will be eaten alive by trading commissions.
You could MAYBE slide by with two positions with a $5,000 portfolio, maybe. Although now with deep discount brokers it is easier to save on commission costs.
On this sites broker comparison chart OptionsHouse offers $2.95 trades. Zecco is another but they have a $20,000+ minimum to get the free trades.
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