Friday, August 21, 2020

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Brokers

How to get started..... BROKERS

To limit your expenses. You have to start at the value menu.

 

A few years ago Robinhood started offering commission free trading. I am attaching a link at the bottom to their page. This was a new concept that opened the door for larger brokerages to have to start offering commission free trading to compete. The nice thing that robinhood still offers is a no minimum deposit to get started. They now also offer buying fractional shares which you may have to get on a waiting list to start trading, but once on it you can invest as little as a $1 on high dollar stocks like TSLA.

 

Please review their website for any additional fees, etc.

 

When you don't pay commission and you open the trade and it goes up one penny, that penny is yours. And when it goes up a dollar, the dollar is yours. And when it goes up more, the more is yours. Get the picture? Don't forget to pay taxes.

 

Again why pay commission when you don't have too. This is a huge key to trading small or lunch money.

 

One last thought. Most people that pay commissions, trade more

shares or a larger size, so they can get their money back quicker and they have to risk more. Trading commission free keeps me within my lunch money trade size and allows less stress when the trade goes the wrong way.

 

Something to be aware of with a small account is PDT or pattern day trading and I will go over that in another post.

 

Here is a link to Robinhood. With this link you and I will get a free share of stock. They boast about getting a share of AAPL etc, but I have never received a share of a company’s stock valued over $10. Use my link or go to their site and sign up directly. Remember. Trade small, trade happy.... no stress. If you get nervous in a trade, you broke the first rule. Your trade size is to big.

 

http://join.robinhood.com/peteg


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