Online trading - Anyone with experience here?

[Man-O]

Hello, this topic has nothing to with pick-up but trading.

I've started reading a lot about trading - several guides and terms when it comes to trading. Lately I've realized that I will be needing money later on and trading in stocks and commodities has always been interesting to me, I figured it would go hand-in-hand, especially now while I'm having vacation - having time to dive into it.

My approach so far is to learn the basic ins and outs with starting deposit of 200$ and trying to have them remain that way or get a bit higher (playing it safe and long term).

So anyone here who has experience with any of the online platforms (etoro or plus500) and tips? Also if you wanna start doing it like me I can hand you loads of links and even make sure you start with an extra 200$ deposit through etoro (etoro.com is an online trading platform/"facebook for trading" and you can even copy other investors' trades so you won't have to follow any markets yourself, if they're doing well. Though I won't do that solely).
I figured there might be a few in here as some people are reasonable about their future prospects.

 

[Seppuku]

Hey man,

I have an account on interactivebrokers.com since 2010. In one platform you have access to pretty much everything, stocks, ETFs, bonds, options, futures, forex... and all developed markets. Their fees are the cheapest out there (on US stocks I pay 1$ of transaction fee for each 200 shares traded).

Don't know anything about etoro.com though.

About commodity trading, as you are probably aware, this is usually traded via futures, on margin. Although a little upfront payment is required ("margin") when you enter a position, the actual position is usually on a notional amount worth tens of thousands dollars. Huge investment with little money upfront, it is the easiest way to be wiped out very quickly, unless you know very well what you are doing. I would stick to liquid stock positions to start with.

200$ sounds very small. You want a portfolio of 5 to 10 stocks at the very least. Given what the shares trade at, a minimum 1000$ would be more realistic.

PM me if you have more questions.

Cheers,
Seppuku

 

[lao che]

thanks for this, it's something i've been considering for a while. it's a big step for me to take as, to me, it doesn't seem that much different to gambling but i know a couple of people who make a comfortable side income from this kind of thing.

 

[Man-O]

Awesome reading your replies!
Seppuku, I just read I need 10k$ to even deposit at interactivebrokers?! I'm too poor and inexperienced to even try that hehe, however I do believe if I rly want to earn money vs time spent and not gambling. Then that is the solution.
I did read comparisons between that and pluss500 and etoro.

http://brokernotes.co/plus500-vs-interactive-brokers/
http://brokernotes.co/etoro-vs-interactive-brokers/

What's cool about etoro is how you can buy percentages of stocks or anything (if I haven't misunderstood). So I won't be needing huge amount of money to even make trades. Also some of the great copied traders explain their actions on the market, making it ideal for beginners who can even copy them. Downside are the fees and the low amount of stocks - not a single from my home country.

Lao che, it's definetly gambling if you don't sit down and learn the basics. So far what I've learned that you need learn basic stuff and then you gotta be disciplined about it. A lot of beginners follow their emotions and loose track, usually they just invested due to media convincing them to.

 

[lao che]

Man-O,

how is going?

i've been too busy to start anything new, but over the next few weeks i should be more settled and ready to start learning this stuff.

any updates for us?

hopefully you turned you 200 into a substantial sum!!



here's an article which you might be interested in

http://www.masculinedevelopment.com/?p=1239