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broker for trading as a beginner?
I am looking for one with a virtual trader so that I can paper trade for a while, then start with a small trade, then go bigger. I dont think i will fall into the pattern day trader category and will be willing to risk $5k in the foreseeable future.
I am simply looking at this as a hobby for now, something to look at during breaks at college.
I've been told that suretrader sucks, but will be best fit for me in the case that I do become a pattern day trader at some point. Another mentioned thinkorswim.
Something to mention is that I am not really looking into short selling at the moment.
6 Answers
- Anonymous4 years ago
1
Source(s): Binary Market Secure Success http://netint.info/AdvancedTradingTechnology - ?Lv 56 years ago
Brief mention but not going to labor the point: 90% of wannabe day traders blow out their account in the first year. Learn how not to lose (money management) before learning to win.
The main advantage of selecting a specific simulator is that you get to know the platform of that brokerage firm.
I think the commission schedule at Suretrader is a bit steep. Unless they offer something special that contributes to your trading success (like the option analytics at ThinkOrSwim or the technical abilities of Trade Station), you can do better.
If and when you acquire some trading skills, learn about short selling. It is much easier to make money in a down market than in an up market because fear drives price faster than greed. Avoid any use of margin, long or short, until you can survive. Trade small - never bite off more than you can eat.
YOU WILL NOT GET RICH TRADING OR INVESTING unless you are one of an exceptional few. You are more likely to feed the traders/investors who have already figured it out. But you might learn how to provide a steady income or increase your ROI and retirement assets.
Good luck.
- 5 years ago
If you want to make money with binary options then this detailed educational articles and strategy guides. Go here https://tr.im/BinaryOptionsStrategies
These will teach you to efficiently trade financial assets and increase your winning probabilities. You can implement these strategies at binary options brokers. The idea is to always choose legit and reputable brokers to avoid being scammed
- Warren534Lv 66 years ago
I'd suggest TD Ameritrade's Thinkorswim or Charles Schwab's Optionsxpress
Source(s): 29 years trading stocks, options, and futures - How do you think about the answers? You can sign in to vote the answer.
- Anonymous5 years ago
www.investfly.com
It is a virtual trading site. It has been around for a year or so. It offers a full suite of trading tools and allows users to connect to their brokerage account for live trading.
