My grandpa wants to get into online stock trading,what are soe things he needs to know???
he barely knows anything about computers but is very expirienced in the stock market.What are some good online brokers to use??so far I like the etrade and scottrade.I always see them advertise on T.V. and they look legit.
- Ron BerueLv 61 decade agoFavorite Answer
Investigate the different investments you have available to you. Make THE BEST investment you can: Invest in yourself - your own education. Once you have that knowledge, no one can ever take it away.
In the beginning “newbie” traders & investors DO NOT INVEST any money. It probably won’t be long when you’ll feel you’re ready to invest your hard-earned money. Before taking that step, you really should do research about what you are investing in.
You should LEARN HOW:
A] the stock market works. B] to invest in many, many various ways. C] to properly trade
D] Properly manage the money in your trading account.
"Nnewbies"] investors & traders ALWAYS make mistakes. In fact, throughout a person's trading, he/she makes mistakes.
In the beginning, you READ & LEARN about the market & how it works: Read "Investing for Dummies" As you read & do research about the investments you are interested in, sometimes you'll come across a financial or investment term you never heard before.
http://investopedia.com is a free site. It’s recognized by Y! A as a "Featured Knowledge Partner".
You can usually find excellent, easy-to-understand definitions of many financial & investment terms by going to Investopedia’s dictionary.
It also has a free, paper trading platform. You can set up a virtual account & almost trade as though you were trading with real money.
http://finance.yahoo.com is also recognized by Y! A as a "Featured Knowledge Partner"
THIS IS NOT SPAM: I DO NOT know this man. I am not associated w/ him in any way. I know of him & the wonderful book he wrote. You should invest in a copy of
“The Richest Man in Babylon” by George S. Classon. You can get the book on http://amazon.com
Its easy to read & follow. You can write in it & make notes in it. Simply read five  pages of this book - or any book - each and every day.
OR You can leave it on the shelf, on a table or on the floor & let it collect dust.
Thanks for asking your Q! I enjoyed answering it!
Yes, that is my real last name!Source(s): My wonderful family! My wonderful coaches and mentors! TWO  of THE ABSOLUTE BEST, MOST wonderful trading groups in the world, which I am most proud to be a member of! Trading stocks and options more than 2 years. "THE University of Hard Knocks"
- 1 decade ago
How To Make Huge Profits In Stocks During The First 47 Minutes The Market Is Open!?,Curious About The First Commercially Available Stock Trading "Robot" Which Earns $346.77 Per Week (Managing $1000 Capital). < http://firewind99.affstocks.hop.clickbank.net/ >
- traderLv 41 decade ago
I used to use E-Trade but switched to TD-Ameritrade to get lower transaction fees. I like their trade triggers. I can set the values at night and they will execute per the rules when I am at work. I do not need to be in front of a computer to get the better trade deals. Lots of on-line help is available and the human support is great too. There are many books out there about trading stocks using technical analysis. This takes some time, but is easy to learn. There are also web sites where you can trade with free money so he can apply the techniques. remember that it is easier to loose money in the market than to make money. Additionally, every trader needs to shed the old sayings "buy and hold" and "buy low sell high". He need to learn to invest with the lowest risk of loss and sell to keep losses low. If you follow this, the profits will come. As always with any investing, only invest what you can afford to loose.
- 4 years ago
Zeeco - $0 minimum - $0 commisions Scottrade - $500 minimum - $7 trades. I never used Zeeco. I want to but I just don't know yet. I currently use scottrade.
- How do you think about the answers? You can sign in to vote the answer.
- 1 decade ago
He needs to know how to use a computer lol
- Anonymous1 decade ago
he needs to know how much money he can afford to lose.
remind him of P.T.Barnum's saying about a fool and his money.
Grandpa needs to hold his money fro real emergencies.Source(s): foreclosure server , saw this movie