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Zecco.com » General Investing » New Investors » Questions for a very beginner
Last post 05-19-2008, 1:07 AM by sg1efc. 2 replies.
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  •  05-18-2008, 10:56 PM 29334

    Questions for a very beginner

    Reply Quote

    Hi all,

    I would like to have the chance to start investing with a small amout of money initially lets say $200.
    Can you please advice me from where i can start? I would like to learn about it.
    Can I learn from the seniors in Zecco?
    I have read few posts and I found out that there is a negative feedback on Zecco. is that serious ?

    Any other help will be appreciated.

    Thanks and Regards

    Munzer

     


     

  •  05-19-2008, 12:39 AM 29336 in reply to 29334

    Re: Questions for a very beginner

    Reply Quote

    Personally, I am a small timer (but not as small as a $200 small timer).  But I am not into any kind of crazy trading.  Just buy something I like, wait for the time to be right, and then sell it.  I don't invest on margin or have any intricate, involved trading options or anything like that.  And so far, I have no complaints at all about Zecco.  Sure, they update balances slow, and the way they calculate "preformance percentages" can be a little confusing at first glance, but I have had no problems with the security of my positions and my cash, which is the bottom line for any on-line brokerage.

    Most of any cons you would hear are from folks who have a lot of investing experience and are looking to preform trades that are a little more complicated than the kiddie pool "Buy" and "Sell" orders that a beginner will be carrying out.  I think Zecco is a great place to learn.  When you get more experience and want to make some bolder trades, maybe you will run into some troubles.  But if you are a beginner, the $4.50 commission for a sub-$2500 is very competetive.  And if you can fund to the $2500 mark, I would highly recomend doing so, because 10 free trades every month is downright awesome and most small fries aren't going to be making much more than 10 in a month.  If you want a nice place to start, I think Zecco is a great way to go.

  •  05-19-2008, 1:07 AM 29337 in reply to 29334

    Re: Questions for a very beginner

    Reply Quote
    You will find some negative feedback at any site you visit.  As with anything in life, do your own research/homework.  The more research (also known as Due Dillegence) you do,  the more facts you will have, to make wise stock buying and selling decisions.

    I am learning a lot of great things at stockmarketcats.com.  You can even go to investopedia.com and practice making some trades, without the risk of investing/losing money for free.  Beware of emails, posts or websites that claim certain stocks are going to 'rocket', or any other crazy predictions.  Yahoo has some great free information regarding stocks.  Their message boards can have some good posters and also some really lousy posters, who either bash or pump up stocks.  It is best to stick to reading the posts made by people who are referencing links which you can visit to see where they are getting their information from.  If they can not back up what they say,  there's not much reason for anyone to believe it. 

    Best thing you can do is read, read and read some more - learn all you can, before investing in any stock.  You can make some money, but only if you learn how to invest wisely.  By the way, you will at some point or another lose some money.  When a stock is going down, do not keep buying more of that stock.  Try to sell a stock that is going down when it gets down to a 5% - 10% loss, no more than that.  Set a limit for yourself as to how much you are comfortable losing and stick to it.  Remember that 10 trades at which you make 10% profit on each = 100% profit.  In order to make a profit,  you must sell the stock.  No matter what the stock, it will eventually go back down.  I'll stop rambling now, lots of laughs.

    Oh, almost forgot this, make sure you know about and understand the DayTrader rule:
    http://www.patterndaytraderrule.com/
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