subject: Going After Your Own Personal Project Payday: Is Online Trading The Way To Go? [print this page] The recent economic collapse of Wall Street in fall of 2008 showed many of us what we already suspected: the trading floor is a scary place for the Average Joe in America to be. Many investors who worked their lives on Wall Street were surprised at the enormity of that stock collapse. And if those investors were surprised, then what hope does the unprofessional, everyday guy have?
Well, maybe more than we thought. The stock market is built on people investing, and if you watch enough prime time television, you will see that the market is definitely interested in your money. In the wake of that economic collapse, there are a barrage of commercials that depict John Doe entering a bank or even sitting in front of his computer, wondering if the time is right to re-enter the market.
Inevitably, these commercials all have two things in common: the idea that the time IS right to begin trading again, and that you can do it from the comfort of your own home. Online trading companies have blossomed in the aftermath of the economic collapse, perhaps even gaining strength from it. The commercials all seem to say, See? Those guys did not actually know what they were doing. Why do not you give it a try? It cannot get much worse.
Actually, their message is a bit more upbeat than that. And it seems to be working. The numbers indicate that Americans are heading to the internet in search of their own personal project payday. Sick and tired of salary freezes and worried about pensions and retirement benefits, people are trying to create their own stock safety net.
TD Ameritrade, ScottTrade, and E-Trade are probably the most well known and potentially the most well regarded online trading sites. And all three of them claim that they will not send you into the fray unarmed. In addition to their own specialists analyzing portfolios you already own, they also offer completed research and analysis on various stocks, as well as tools to further your knowledge about the market.
While all three companies offer free web seminars they also offer tutorials and a range of articles gathered for informational purposes. TD Ameritrade recently collaborated with Investools, a software company that sells a program dedicated entirely to stock market and investment education. This, however, does not seem to be offered as a free program to Ameritrade customers.
So are these companies properly arming Americans in their battle to enter and conquer the stock market? Well, that depends. The reality of the stock market is that research and information will always be your best tools, and that you should never completely rely on a faceless voice or anonymous article wholeheartedly.
Even comprehensive programs like Ameritrade Investools, while helpful and potentially beneficial, still require you to keep on top of your portfolio. So if you believe that now is the time to become involved in online trading, take a look at what the web has to offer, but always remember that you have to be willing to offer something as well - your time.
by: Steve Albright
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