I dont get the stock trade.?

Question:

How do i receive my money from my profits in the stock market(didnt invest yet just asking)?Also when i was looking around in scottrade(in stocks area)it siad buy and sell stocks.I thought u sell stocks.What does it mean and how do u do it?Last could u explain all those fees and other offers that come with making the account on scottrade or any other stockbrokers.OOOPS.1 more question ,how do u pay for the stocks or get the money from selling one and can u make an account if ur under the age of 18?

Answer:
1. In order to buy stock at most online brokers you must deposit the money first. Then you'll be able to place a buy order that costs up to the amount of your deposit (unless you use margin, but that topic is certainly more advanced than you are ready for right now.)

2. After your order executes you'll then own the stock. If it goes up you'll make money, if it goes down you'll lose money. In order to get the money out you have to sell the stock. Once you've done that the funds will become available to you on 'settlement date' of the trade, which is generally 3 business days later. You'll probably have to specifically request a check for the funds because most firms will assume you just want to leave the money in the account in preparation for another trade, and if you do get a check it'll be sent in the mail and will probably be drawn on a NY bank so you may have to wait for it to clear your own bank before you can actually get the cash.

3. No you won't be able to open account if you are under 18. Your alternative is to get a parent or other adult to open a 'custodial' account for you benefit. They will then have to place the orders.

Good luck.

I dont get the stock trade.?

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