Online Trading...How do You Set-Up an Account to Buy/Sell Stocks via Computer?...Most Helpful Websites?
Question:
Just want to buy/sell stock/mutuals & try to make more than the paltry amount the Banks pay in interest.
Thanks Very Much!
Answer:
Your questions:
How to set-up account?
You can go to a reputable brokerage company's website (do your own investigations via internet - different brokerage houses maybe strong in different products) and download the required form. Along with your supporting document, you will have to fax or mail the form to the brokerage house, and probably follow-up with wiring your fund over. Once your account is ready, you are ready to trade. Make sure you are using latest software and anti-virus on your computer (and never use any public computers like in the internet cafe), so that internet security is not compromised.
Most helpful websites?
Well that depends on what you are looking for. For charts, i personally prefer Bigcharts.com and Stockcharts.com. For finance information, Yahoo is good for me, and MSN provide good online stock screening tools. Also, your online brokerage house will provide information too. (side note: you might want to consider using more than one online brokerage house for various reason as long as your resources are not spread too thin.)
You are your best resource and you must always in the driver seat when it comes to managing your own fund. On mutual fund - my personal belief is they are useful if you want to invest in a market that you do not have access to, and are bullish about the outlook. As with most things, always choose the best (morningstar.com should be a good resource for mutual funds.)
E*Trade is a great on line broker and Yahoo Finance and Fidelity have great on line research sites.
The first response you received is right on the mark. The second response is too. Good luck. I use Fidelity and TD Ameritrade. Fidelity has better research.
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