How Do I Start Trading?

By Photokanok, published on 26 July 2013
Stock Photo - image ID: 100186685

The first thing to do to start trading is to set up an account with one of the online brokerage companies.  The most well-known are TD Ameritrade, E-Trade, Scott Trade and Charles Schwab.  I use Trade King because the commissions are low ($4.95) and you can call a broker to place a trade for you. The on-call brokers work magic, they can get your trade in better than your price sometimes. If you choose them let me know there's a referral program where we both can get $50.

For charts and analysis nothing beats Think or Swim. I have a TD Ameritrade account just for the Think or Swim paper money and for their Investools free classes. I don't trade on them however because their commission is $10, just for practice and info.

This will get you up and running.  The key however, is to practice before you trade.  Be sure to make use of the paper money trading tools.  This helps you to practice strategies and get used to the stress of pulling the trigger.  Your emotions will get the better of you if you let them so it's good to plan your entrance and exit strategies and to be disciplined.