good time to open a stock trading account?

z1k8m · #1 (**permalink**) 02-08-08, 12:37 PM

I've seen report these days saying that the stock market is going bearish. I want to start trading stocks online, but don't know if it is a good time to get into the market at such a time.
I just opened an account with TD, and apparently their commissions are very high. BI has a very low commission rate but people say it is no good for beginners. I just wonder if TD is a good choice for a rookie to play with.
Thanks.

Novice Investing · #2 (**permalink**) 02-10-08, 10:25 AM

For a rookie that doesn't have much capital, I'd recommend scottrade ($7 comission per transaction) and zecco (free comission).

EvaluatingStocks · #3 (**permalink**) 02-11-08, 09:27 AM

I agree with Novice Investing: you want to keep your transaction costs low to maximize returns. However, I really would encourage you to do 1 of 2 things:

1) Learn about trading first before you buy in this market

Money can be made only if you know what you are doing. The active traders on this forum make it look easy b/c they are really good at what they do - but you really should tackle the basics and bounce ideas off someone with experience first.

2) Take a more long term approach to investing
This is where I see lots of potential for beginners. There isn't a reason to rush into buying stocks right now - learn what makes a stock a good investment. What companies / industries are out of favor now? Does their balance sheet warrant such a low price? Etc.

trader27 · #4 (**permalink**) 02-19-08, 02:53 AM

Quote:

Originally Posted by z1k8m

I've seen report these days saying that the stock market is going bearish. I want to start trading stocks online, but don't know if it is a good time to get into the market at such a time.
I just opened an account with TD, and apparently their commissions are very high. BI has a very low commission rate but people say it is no good for beginners. I just wonder if TD is a good choice for a rookie to play with.
Thanks.

Better Try MT since they don't charge a trade commission, its a package for monthly weekly which is very cheap...

climb887 · #5 (**permalink**) 11-17-08, 07:29 PM

Every new beginning comes from some other beginnings end...
The question is when?

Robert Beton · #6 (**permalink**) 11-19-08, 11:02 AM

Market is bearish that doesn't mean that market start to rebound soon, market will be more worsening unless any positive sign comes out for economy. Global economy is bad so you shouldn’t buy a stock right now. Study on it more and then invest money, that way you won’t loss.

Robert Beton · #7 (**permalink**) 11-28-08, 10:39 AM

No man I don’t think so, if you know the criteria how to invest and when should invest then there is no risk in the stock market. Why you think so? I used to trade and never made loss though if you made huge profit then you need to loss for a while which deserve able. So study on it first then invest you never feel risky. Any doubt?

Airelon · #8 (**permalink**) 11-28-08, 04:36 PM

I've mentored people when it comes to either investing or trading (trading and investing are two different things). I had one guy tell me a very simple truth:

"Man, none of this is hard. It's just that there is a lot to know!"

He couldn't have been more correct. Just remember that in this business? A lack of knowledge can cost you your entire account in the time it takes to have read this sentence.

Study. Study. Study. Study money management principles and strategies, with the importance of proper position sizing. Learn what you have to learn, in order to get started. Learn how to get started, once you think you've educated yourself far enough along. I put together a playlist some time ago - as without a doubt, the question I am asked more than any other is: "How do I get started".