I have been looking at websites where you can learn the secrets but they all seem to have massive price bands, how do i get into stock trading at the age of 16? are there any markets for that age or is it all 18+ can i get my parents to open a trading account for me?
What are the best websites/books i could glean information from?
and finally i could only probably get about £300-£500 would this be enough to start off with?
Thank you or reading all that and i really appreciate those of you who help and answer questions.
Categorized | Affiliate Marketing 101
I’m 16 Years Old, I Want To Get Into Stock Trading, I Know Nothing About It But I’m A Fast Learner What Do I?
Posted on January 11, 2012.
As your using pounds I assume your in the UK. As your only 16 I would advise that you stay away from trading for several reasons.
First off the only way you could trade shares on the open stock markets would be held in trust through your parents. Even if you went down this route £300-500 would not be enough to make money trading stocks as your earnings (if you made any) would be eaten up buy tax and broker commission charges. A typical brokerage fee is between £6.99-£15.99 per trade. Therefore for a person with only £300-500 pounds to invest in Stock trading your only option, is in the field of leveraged derivatives which would not be suitable for a 16 year old due to the high levels of risk and the expertise involved in successful trading. Being leveraged, means you could lose more than your initial trade and would not be suitable for someone with your risk profile. It would also be highly likely that holding an account in your parents names with you operating it, would be against the service providers Terms and Conditions.
Wait until your 18 and have a bigger sum to invest. If it really is a route that your interested in, there are huge amounts of good material out there which you could consume and learn a lot from in the time being. Good books at about both traditional stock trading and derivatives can be found on Amazon and other book stores.
You have to be 18 and your financial situation would have to stck up (which it doesn’t). You could get an account in your parents name. I know people from 18 to 70 who trade and are fast learners. They may win but they also lose- you would be wiped out with £500.
I hate to suggest this but I would say get a spread betting or a CFD account. Trade, say £1 a point or less and if you are careful could limit overall losses to £1000. SB is a geared product so profits (and losses!) quickly mount up. If you are really carefull/sensible and use judicious stop losses you could have a lot of fun and hopefully learn. Read this: http://www.shareworld.co.uk/index.php/ar…
easy one ,ask your parents to open a custodial account then buy Ophir Energy (OPHR) with your £500 and then simply hold LONG term as this company has incredible growth potential ,when you obtain more cash …buy more shares of it..http://www.ophir-energy.com/
if they open the account by Jan 31st with http://www.hl.co.uk/ its only £1 to deal until Feb 29th….
good luck…