Fund picks and pans stocks

blachjakk says:

"Best Deals" is quite nebulous for it could mean totally different things to different people. It really depends on what you, as an investor, are looking for.

If you are looking for a brokerage firm, you must weight commission costs with platform usability, speed, & customer support. I’d highly recommend signing up for a free http://www.elitetrader.com account and go to their "brokerage review" section where the thousands of members have reviewed practically every trading firm out there.

The one that often rises to the top as far as price ($.005/share) and service is Interactive Brokers, but you can read all of the reviews and make up your own mind for IB doesn’t have the best charting or news platform but is fast, reliable, and super cheap.

If by "best deals" you are referring to what kinds of investments to purchase, then that is an entirely different ball game and you really have a lot of work ahead of you before you go diving into anything.

People who ask for the "best deals" as far as investment are really just looking for stock tips and stock tips are VERY VERY dangerous to follow without your own personalized trading/investment plan.

You can ALWAYS (100% of the time) find a perfectly valid point for doing the exact opposite of what someone recommends.

Take that Ford recommendation above, when I go to:
http://finance.yahoo.com/q/ta?s=F&t=my&l=on&z=m&q=c&p=v&a=m26-12-9&c=
I see a stock that has been falling for the past 7 years. Can an argument be made that it is therefore undervalued and ready for a pop? Sure can, but in my book, that’s called bottom picking and I would personally like to see it stop falling and start rising a little before I purchased it. But that doesn’t mean that Ford would be a bad investment, it’s just that you can’t just go out and buy stuff without a an Entry, Risk Management, & Exit strategy, sound familiar

Entering a trade is only the very first part to making a profit. What about risk management, how much are you willing to risk before admitting that you were wrong and closing a position?

Next comes profit taking; When do you close a winning trade and when do you go for a little more?

There is more to cover here than can be gone over in one response but there are plenty of free & very informative websites out there today.

Again, I’d recommend http://www.EliteTrader.com for more expert information on the brokerages as well as different trading strategies that you can think about.

http://www.WilyTrader.com is also good for system & trade analysis but it might be a little deep for a complete novice.

Hope this helps

Frank Castle says:

SogoInvest charges only $3.00 USD per trade.