How to Invest in Stocks Using Trading Software
Anybody can invest in the stock market online from the comfort of his or her home or office using the appropriate software. Trading software will help you analyze stocks by providing market information similar to what day traders receive. Trading software applications also allow you to practice day trading using paper money. You'll still need a brokerage account to buy and sell stocks. Some services like Think or Swim have trading software incorporated with the brokerage account.
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Instructions
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Search for a trading software or service that best fits you. Some services go into detailed analysis with charts and projections of the stock's future. Some also give you access to paper money for trading practice. A good example is Think or Swim, which gives you two paper money trading accounts of $100,000 each.
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Figure out how much trading you want to do. If you want to become a day trader, you probably need the most sophisticated systems coupled with a lot of educational materials. Also, if you need to make trades while on the go from your mobile phone, not all trading software can support this.
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Decide how much you want to invest. Some trading software and brokerage accounts require a minimum amount to open an account. If you want to bypass this, you can get a standalone software like Investools for the analysis and education and then make your stock trades using a discount brokerage like Sharebuilder that has no minimums. Investools and Think or Swim are both subsidiaries of TD Ameritrade
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Pick a trading software and open a brokerage account. Link it to your checking account and start buying the stocks you want.
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