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These greed merchants cunningly relieve the unwitting newbies of every cent they own. and then justify it by saying that its a small price to pay for the knowledge thatll make them rich!If youre a first time online stock trader and you want to avoid falling into the same trap as so many before you, then this article on tips for online stock trading is written for you. Please read on.Here are three tips for online stock trading thatll save you over US$1,500 a year!
1) Find an online stock broker who doesnt require a minimum deposit. If youre a beginner at online stock trading, or youre on a tight budget, theres no need to set up a brokerage account with thousands of dollars in starting capital. Unlike most other trading firms, these folk allow Ralph Lauren outlet Italiayou to nominate a DOLLAR AMOUNT as opposed to a SHARE AMOUNT when placing your order. For example, I opted to invest US$100 in high technology stock, Imation Corporation (Stock Symbol = IMC). $37 x 2.594 = $96 + $4 brokerage = $100). The stock climbed to over US$51 a share before easing back to the low $40s. I took my profits at $49 a share and banked a 27% gain!
2) DONT PAY for online stock trading information when you can get it for FREE. Market reports, IPOs, currency exchange rates, portfolio tracking facilities, EFTs, brokers, research tools, stock ratings, quotes, charts, company earnings, open streaming stock ticker, SEC filings, earnings estimates, analysts ratings, expert stock picks. the list is endless. The many articles and stock reports hosted on this site are also of a higher calibre. However BOTH these sites are invaluable sources of trading information and considering they provide free access to all the data youll ever need, bookmark them NOW!!!
3) Profit from back door companies. Instead of buying highly priced shares in mainstream companies whenever such companies announce a pending major product roll out, why not do what the real professional traders do.look for other, much lower priced stocks (such as raw component manufacturers and / or suppliers to the main company) which stand to benefit just as greatly from the impending product launch. Make a shortlist of these peripheral companies, and then buy shares in the one/s that offer the greatest potential leverage to the upside.An example of this could be finding a small but publicly listed manufacturer that supplies components to a gaming console giant like Nintendo. While Nintendo doesnt offer much leverage at almost US$180 per share, the small peripheral supplier might be trading for just a few pennies on the OTC or NASDAQ. If the launch of Nintendos Wii later this year goes as well as some analysts expect it to, the associated OTC and NASDAQ stocks could literally go through the roof!