How To Get Started On E Trade And Other Investment Websites
The internet has revolutionized the way people invest
. In 2003, it was estimated that 20.4 million active accounts were being traded online.Today, anyone with access to a computer and $500 can get started buying and trading stocks on e trade or other investing websites. But how does someone who doesn't know anything about stocks go about beginning to invest without losing his hard-earned cash?
Here are a few tips for getting started on e trade and other investing sites!
Know what type of investor you are - Some investors like to hold onto trades for a few minutes while others might hang onto a stock for years.
A hyperactive trader - someone who plans on being involved with their portfolio daily - will need up-to-the minute, detailed information at their fingertips.
A mainstream investor - someone interested in building a portfolio for retirement or another use through not only stocks but also bonds and mutual funds - needs bigger picture items like charts and interactive tools. Once you've decided which best suits your needs, you can better explore a site like e trade.
Know what you want from a brokerage site - If you were investing your money with a brick-and-mortar firm instead of e trade, you would have a multitude of expectations from the people you'd be dealing with. It should be no different when it comes to e trade and other online investing sites. Find the site's customer service information and call them. See how long it takes to get a real, live person on the phone. Send them a test email and see how quickly they get back to you.
You should also look for up-front, cut-and-dried information about fees. Also take a good look at how usable a site is before you commit. Hyperactive traders will be concerned with how quickly the site updates while novice investors might get more use out of articles and situation games.
Stay informed - Don't just trust what e trade or your investment site is telling you. Stay informed on a stock's background by watching cable news, reading finance magazines or newspapers, and checking other websites for trading info.
If you're new to investing, do your homework and check e trade to familiarize yourself with investing terms. Finally, make sure you can still trade over the phone with e trade or another site should you lose internet connection.
Besides, when you've made so much on the market that you're vacationing in the Caribbean, you wouldn't want to miss a trade because your dive boat doesn't have WiFi, right?
Copyright (c) 2010 John Howell
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