I've been a long time lurker of this forum and been following stocks for a while now. I recently started paper trading using MarketWatch set up similarly to how I plan on using it when I'm ready for real money. I plan on quick trading, doing short term investments with only 2,000 initially to learn the ropes. I've been doing fairly well with paper (I caught the Clearview/Sprint deal two weeks ago, the Facebook uptick the this morning, and now Zynga tonight) but would like to start trading for real. Again, most of my investments are very short term, on the order of a day or to to a week or so.
I was looking at using TradeKing since I plan to be trading frequently. It has a low 4.95$ fee per trade with no tiered commissioning/trading scheme and no account maintenance fees. Can anyone recommend this broker, or any other??
Also, my plan so far has been simply to invest in things that I know well/understand, namely the tech/gaming market. I've been waiting for some big news to hit, then reading about the company, checking out the quarterly earnings, and laying out a few charts before I decide to invest. It seems to have been working for me so far. I understand that I'm working a very high risk method here, but I generally haven't been investing unless I have faith in the company/sheets. And also, this 2k is something that I'm not afraid to loose (Although, you know, I'm hoping that doesn't happen). Any thoughts on my plan here??
Also, is there any other penalties for relatively quick trades that I'm unaware of outside of the extra trade fees I will be accumulating??
Thanks all for your help and advice, and thanks for all the information I've gathered from lurking the forums here. You all are a great source of knowledge and I appreciate it!!
I was looking at using TradeKing since I plan to be trading frequently. It has a low 4.95$ fee per trade with no tiered commissioning/trading scheme and no account maintenance fees. Can anyone recommend this broker, or any other??
Also, my plan so far has been simply to invest in things that I know well/understand, namely the tech/gaming market. I've been waiting for some big news to hit, then reading about the company, checking out the quarterly earnings, and laying out a few charts before I decide to invest. It seems to have been working for me so far. I understand that I'm working a very high risk method here, but I generally haven't been investing unless I have faith in the company/sheets. And also, this 2k is something that I'm not afraid to loose (Although, you know, I'm hoping that doesn't happen). Any thoughts on my plan here??
Also, is there any other penalties for relatively quick trades that I'm unaware of outside of the extra trade fees I will be accumulating??
Thanks all for your help and advice, and thanks for all the information I've gathered from lurking the forums here. You all are a great source of knowledge and I appreciate it!!
