How to trade online

Either you're seasonal trader or invest for a long term, you can open self directed account and trade online.

Difficulty: Easy

Instructions

Things You'll Need:

• Computer
• High speed internet connection
• Trading skill

1. Open account with online brokerage firm. There are many online brokerage firm that you can choose to open your account, each one of them have the advantage and disadvantage.

2. Compare them to get the best online brokerage firm. Here are the list that you need to consider when you open an account with online brokerage firm:

3. *Member of FINRA and SIPC
   *Commission rate
   *Trading platform
   *Real time quote
   *Speciality (Stocks, options, mutual fund, ETF, futures, futures options, etc.)

4. What kind of account would you like to open?
   *Individual account
   *Join account
   *Business account
   *Traditional IRA
   *Roth IRA
   *SEP IRA
   *Trusts
   *Minor account (custodial, educational, etc.)

5. After you determine what kind of account would you like to open and filled out all required forms. Then you will need to fund your account, either transfer from another investment account or from your bank account.

6. After they received the fund, you can start trading. However there are some requirement to trade option, future and future option. Because they are a high leverage trading thus assume higher risk someone need to meet specific requirement to be able to trade them online.

[interwebs]

on 8/9/2008 If your a beginner, open a demo account and practice trading before you even think about trading online. Also, a strategy is a must. I agree with the above comments.
http://www.squidoo.com/easyforex4you

[interwebs]

on 8/9/2008 If your a beginner, open a demo account and practice trading before you even think about trading online. Also, a strategy is a must. I agree with the above comments.
http://www.squidoo.com/easyforex4you

[Greatfunmoms]

on 7/20/2008 Thats true. Most good online brokerage firms have screening tools and more. Fundamental analysis is very important to measure the health of the company and technical analysis tell when you should get in or out your position. However I love trading options to give me cash flow or income every month, that is covered with my current portfolio.

[Trader4ever]

on 7/19/2008 To trade successfully you also need some tools to analyze the market. Example your strategy is to buy only trending stocks or stocks with low PE Ratio. How to find such stocks among 5000+ companies? Obviously you need a stock screening tool for this like Marketinout.com or yahoo.com. You should learn technical and fundamental analysis basics to be successful on the market.

[krazigirl79]

on 7/18/2008 Ive always wanted to try this, thanks for the tips!