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The Difference Between Paid and Free Online Stock Trading Services

Once we get used to paying for something-like trading stocks- it makes us wonder what we are going to lose by using a free option. This works the same way with almost anything that you may have gotten used to paying for. It works the other way around as well. Is there something you have always gotten for free (like e-mail) and have the choice of paying for it? Now the question is, what extra benefits am I receiving.stocks_3

Believe it or not, with a free service you are not losing very much. Many times the free service is under a few conditions, a minimum account balance, a minimum or maximum number of trades every month. Or a monthly fee to offset trading costs. For example, if you are making 100 $10 trades, a $50 monthly fee with ‘free trades’ is a good deal. The point is, it exists but look into the fine print. You aren’t necessarily losing anything and you aren’t necessarily being scammed, but look into the conditions which need to be met in order to receive your free trades.

Usually in these different levels of accounts (free, paid, pay per trade, flat fee, etc) there may be a difference in the amount of information the site provides you regarding the stocks. This extra information is usually not needed, it can be found elsewhere, but can be a nice bonus, or may be packaged more conveniently for you than to have to look everywhere for it, such as currency strength meter.  You may get to be on a bonus newsletter of some sort as well. Usually higher paying, or higher balanced customers get preferential treatment of some way.  But don’t let them fool you, if you want the free account, you do not need those extras to make your trades, just do your due diligence with other sites, books, and your own strategy.stock-trading-1-2

You don’t need the perks, find your strategy by playing with free online stock trading sites and follow your strategy, do not try anything you haven’t tested, no matter what some guru, expert, pro millionaire says. Just because it worked for them doesn’t mean it will work for you. Test before doing anything, don’t worry about missing out on anything, you will find your own winners.

As you can see, most of the differences are cosmetic, informational, or numeric limitations. If you only do several trades a month you will need a much different plan that someone who does hundreds. Look into all of the plans and figure out which suits you best, it may very well end up being cheaper to get a paid plan than a free one. Do your research!

 

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Practice Trading With Free Online Stock Trading

Trading stocks can be scary. In essence, it feels like betting, you are paying a certain amount of money for a ‘stock’ which will either become worth more or less. In a worst case scenario, it becomes worthless and you have lost all of the money. In a best case scenario, the stock triples and you can sell it with a profit. But how can you tell when the stock will do either?

There are many different theories on this, but testing for yourself is the best way to find out. Do not test with your own money unless you are loaded and willing to lose money. Test on a free online stock trading site. These sites allow you to ‘purchase’ stocks with fake money and track them for you as they are doing in real life. Test out some of your own theories and see how they work. If you make millions in the game, then try it a bit in real life.onlinetrading

Don’t start out with tons of money, just $50-$1000 whatever you can afford. You might surprise yourself with your picks and earnings. But make sure it is money you can lose, because you are new at this and could possibly make a mistake.

This can be a fun and rewarding way to learn about using the stock market. Many of the free online stock trading sites have competitions where you can win prizes or money by making the most amount of money over a certain period of time.

You can learn from your peers. Many of these sites have social capabilities where you can see what your peers are buying and selling. This can help reassure your choices, or make you question them. Find someone who is doing very well and follow them, see what choices they make and why. Don’t copy them, but review their strategy and see how it might fit in with yours.

Using these free online stock trading sites can help you clearly define your market strategy and allow you to enter the real market confident and ready. You know that you may lose money, but you are prepared for it. You understand loss and gain, you need to understand important stock trading concepts prior to buying for real such as buy and hold, selling at certain percentage gains, dollar cost averaging, etc.  Make sure that you have seen all of these terms being used and understand  their use and their meanings.online-stock-trading

Become familiar with all of the basic stock market lingo and theory before touching a stock. Beware of penny stocks too. These can be fun to play with on the free online stock trading sites, but I would not touch them with real money until you were experienced with a few years of trading and making money.

Remember, you don’t need to be a millionaire day trader to make money in stocks. Buy and hold is a wonderful strategy that makes many people rich over time, play with this and the other theories, perfect it and then make some real money!

 

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Make Money in the Stock Market

You look back on history, and really pay attention to the amazing fortunes that were made by folks like the Rockefellers, the Vanderbilts, the Carnegies, the Kennedys, and even a modern day mega rich people like Steve Jobs, Larry Ellison, and Bill Gates, you’ll find that there is one thing in common with each and every one of those fortunes.

The foundations for seemingly endless amounts of wealth was all created in rough and rocky economic times – not when things were looking fantastic. How to make money in the stock market – Jump in while there is “blood in the streets”You see, when there is “blood in the streets”, so to speak, people are trying to play things as conservatively as humanly possible – why looking out for a “quick fix” that will help them get out of their short-term financial problem.

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People in general continue to focus on tomorrow as opposed to 10 years down the road, and they always lose in the long term because there I is on the short term price. This allows you to pick up absolutely fantastic investments for pennies on the dollar, provided that you’re willing to cash out a couple of years – or even a couple of months – down the road. Long-term thinking is king when it comes to learning how to make money in the stock market, and can transform your financial future in a hurry.

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Not only that, but it will give you the kind of financial protection you’re looking for that you simply would not have had otherwise. The only people who are secure in their finances (and can weather almost any storm imaginable) are those who have taken advantage of the market when it was down like it is right now – and you can be one of those “lucky few” provided that you’re willing to take advantage of the opportunity presented to you and start using metatrader 4 to earn money trading stocks.

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