That's not true, if you're consistent and start with 500 you can grow your account and increase your lots. Then you can make A LOT of money. But this all takes a lot of time to learn.
i dont think you understand 500 is a lot to me
+ You've just agreed to what I said about experience :/
Having a lot of experience = Spending alot of time to learn
Obviously you need time, stock trading isn't some kind of lottery where you just invest and make tons of money, it takes time and effort, people often think it's just UHHH THIS COMPANY LOOKS GOOD. No. You obviously have to know what the company does and how it operates. One thing that's important with trading is to not have any sort of ethics at all, for example when H&M went up by 14% between 27th and 31st of january I invested money in it, do I support their labour? no. Fuck that I hate what they do but I made money from them
First step is to not give in to "get rich quick" courses. Im not a trader, but i do invest in crypto mostly.
I did buy a share of SPY for $300 but it quickly dropped and lost $2-3 (boohoo lost money) right now would be a good time to invest in companies that do well. If youre looking for long term i heard apple microsoft, facebook, amd, and some others are good.
I use coinbase to trade BTC, ETH. Theres other cryptos you can trade with as well.
I started by watching videos on YT about candlesticks, RSI, basically "how to read a chart".
I'm in a discord dedicated to day trading, beginner trading videos and other cool stuff to learn.
Check out the TraderToks community on Discord - hang out with 901 other members and enjoy free voice and text chat.
discord.gg
Its cool to see more people being interested in trading/investing.
What use for charts: CoinBase, TradingView (chart viewer for prices), ThinkOrSwim (stocks), MT4(forex chart). Brokers i use: OANDA (forex), coinbase (crypto), TDameritrade (stocks).
I would stay away from pennystocks if youre starting out. I have looked into pharmaceutical companies and it does look promising but the price can drop dramatically. Some i am watching: INO, IBIO, AIM, HTBX.
I have been learning about forex, stocks, crypto, option-trading, etc. for about a month now. Leave questions or comments in the post, i can try to answer it if i know. @DANIEL_@Creepis@Inchs
Do a lot of research please. I started out trading BTC but made like little to no profits thanks to coinbase fees ($3). So i am switching to trade ETH mainly but i will put some in BTC cause some "halving" going to happen. According to some it should spike up the price but who knows.
what creepis said. robinhood itself isn't horrible but their IT attitude is and i learned to avoid companies like that for a multitude of reasons. Any company that has a shitty attitude towards cybersecurity is shit. the equifax shitshow happened because of a known bug and when you dont immidately resolve known bugs asap now matter how innocent they appear ur shit