Is e-trade a good way to start buying stock.?
Buying stock does not further your knowledge about investing/trading, nor having an account with a brokerage firm helps you gain any knowledge. Before you open a brokerage account you should know what you are doing, why you are doing it and how to do it. You don't need to buy software, here are some books and websites that will help you Here is some reading material that can get you started in the right direction, The first book you should read is Rich Dad Poor Dad by Robert Kiyosaki Then try some of these What Works on Wall Street by James O'Shaunessey Beating the Street by Peter Lynch One Up on Wall Street by Peter Lynch The Warren Buffett Way by Robert Hagstrom How to Make Money in Stocks” and 24 Essential Lessons for Investment Success both by William O’Neil Get into the habit of making daily visits to some websites like MSN Money and Yahoo Finance. (http://moneycentral.msn.com/home.asp http://finance.yahoo.com/ ) While at MSN following the strategy lab analysts to get a feel for what the pros are doing and why. This site has some basic information for beginners. Other website that can provide instructions and help with procedures and terminology are Investopedia - http://www.investopedia.com/ Stock Charts - http://stockcharts.com/ http://www.investorshub.com/ http://www.1source4stocks.com/ Visit some of the more professional websites like Zacks - http://www.zacks.com/ Smart Money - http://www.smartmoney.com/ Schaeffer’s – http://www.schaeffersresearch.com/ Some of these web sites will have advertisers who are worth looking into also. And remember, if they offer free information, get it. Good luck
Trade stock under 18?
You can not invest/trade in the real world until you are 18 years old, even if a parent were to open a custodian account for you, you still are not permitted to enter transactions. There is a very big difference between the virtual world of make believe than the real world. There is more to trading/investing than just entering orders. Making trading/investing profits is one thing but a very important part of trading/investing is protecting what you have. Being interested in the market is one thing, understanding it is a totally different world. I started investing thru my custodian account held by my dad when I was 11 but didn't start trading until I was 18. Although I knew how the markets worked and knew the various products sold in the markets I had to spend a good amount of time studying the professionals and how they looked at the markets. I would strongly suggest that you continue to study especially learning how the Pro's have done it. Any idiot can enter trades, but it take intelligence to understand why
Good mock stock trading websites?
There are some good stock market game websites at http://www.investingsimulators.com You have the right idea and should certainly do some mock stock trading before you invest real money. If you find that you cannot make money with these investment simulators then there is no point opening a real account. Be careful! I personally recommend weseed or updown. That site has reviews of them.
Best Online Broker For Penny Stocks?
There is no such thing as the "best broker for penny stocks". No registered broker/dealer wants to be known as a "penny stock' broker, this would not be a honor but a disgrace. Very few brokers waste their time doing research on penny stocks, the only firms that publish research on these stocks are usually "pumpers" and/or promoters. From a brokerage firm’s perspective having their customer deal in penny stocks is a loosing proposition. Many firms do what ever they can to discourage such investments/trading, especially from new accounts. This is usually done by charging higher fees for transactions or place a storage fee for holding the stocks.. Order routing and entry is annoying since there are no regulated markets nor market makers. Clearing such orders is time consuming and expensive, very few penny stocks go through a CNS system which leads to many have to be manually cleared and many delivers have denominational problems. The storage of the certificates is extremely expensive since manual counts are required by law, secured space is required and re-registration of the certificates is time consuming and expensive. Firms are more than willing to permit existing customers trade occasionally in penny stocks but very few firms want customers to trade in them frequently. Usually experienced customers will occasionally trade in a penny stock but they know what they doing. But new customers who want to trade in only penny stocks present problems for brokerage firms. Not only are the transactions problems but the customers lack of knowledge is very difficult to deal with. Here's some websites that may have firms advertise for penny stock services http://www.smallcapinvestor.com/ http://www.otcstockexchange.com/ http://www.pennystocks.com/ http://www.penny-stock-brokers.org/ http://www.pennystockalley.com/ http://www.pennystockwizard.com/ http://www.superstockhunter.com/ http://thestockmarketwatch.com/markets/pennystocks/today.aspx http://www.awesomepennystocks.com http://www.preferredpennystocks.com/