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Original post by Don Joiner
And if so how? Would you have to trade under a parents name as you're not 18?
Most brokers have a minimum age of 18. .
You could advise an adult on what trades to make, but you cannot just trade as them. Any shares they held could then be transferred to you when you turned 18.
Why not just wait a year and avoid the hassle?
(edited 8 years ago)
I would see if you can set up an online "mock account" and trade virtual shares to see what happens without loosing any money
12 moths later, if you have beaten a building society, have a punt.
bear in mind, you can buy shares in a company and it can go bust with little warning. then you end up with zero
12 moths later, if you have beaten a building society, have a punt.
bear in mind, you can buy shares in a company and it can go bust with little warning. then you end up with zero
Original post by Don Joiner
If you provided an adult with the money they could trade the shares for you. However, stock market trading is gambling, unless you have years of experience then it is difficult to play the markets. Also, many think that they can start with penny stocks and become millionaires in a year. You cannot, all of those stories are products of fraud and insider trading. You need to study economic theories and look at the state of the financial markets first.
As a previous poster mentioned, start with virtual trading for fun and see how you do, if it goes well start with low value stocks, $10 or about £7.50 at first, buy one or two and see what happens!
Original post by sw651
if it goes well start with low value stocks, $10 or about £7.50 at first, buy one or two and see what happens!
Don't do that - fees are around $10 per trade so your capital will disappear very quickly.
Original post by Duncan2012
Don't do that - fees are around $10 per trade so your capital will disappear very quickly.
It depends on the value of the stock, if it goes up in value then it is a small profit, besides, they wont be able to afford hugely expensive stocks to start!
Original post by sw651
It depends on the value of the stock, if it goes up in value then it is a small profit, besides, they wont be able to afford hugely expensive stocks to start!
You're missing the point - it costs $10 to buy and $10 to sell. So if you buy $10 of stock you'll need to make a 200% profit just to break even. How often do you think that happens? You'll need to trade much larger volumes (or pay for a low/no fee service) to make it worthwhile.
Original post by Duncan2012
You're missing the point - it costs $10 to buy and $10 to sell. So if you buy $10 of stock you'll need to make a 200% profit just to break even. How often do you think that happens? You'll need to trade much larger volumes (or pay for a low/no fee service) to make it worthwhile.
If they are low value stocks then the fee is unlikely to be high anyhow. In that case then they would be better off buying a lot of low value stocks, which will not be worth much when it comes to selling them.
Look we are getting off topic, low value, high volume. but not at 17
Original post by sw651
If they are low value stocks then the fee is unlikely to be high anyhow. In that case then they would be better off buying a lot of low value stocks, which will not be worth much when it comes to selling them.
Look we are getting off topic, low value, high volume. but not at 17
Look we are getting off topic, low value, high volume. but not at 17
We're not getting off topic, I'm explaining why your suggestion to buy lots of small amounts of stocks is a very bad idea whether you're 17 or 70.
As I clearly said before it's a PER TRADE FEE (unless you pay for a no fee service). You want to buy 1 share? That'll cost you $10. Plus whatever amount you want to buy. You want to buy 1,000,000 shares? Again, $10 plus the amount. Same for selling. You want to buy 10 lots of shares and sell them the same day? That's $200 in fees right there.
Stop making up things you have no knowledge of and giving bad 'advice'.
Original post by Duncan2012
We're not getting off topic, I'm explaining why your suggestion to buy lots of small amounts of stocks is a very bad idea whether you're 17 or 70.
As I clearly said before it's a PER TRADE FEE (unless you pay for a no fee service). You want to buy 1 share? That'll cost you $10. Plus whatever amount you want to buy. You want to buy 1,000,000 shares? Again, $10 plus the amount. Same for selling. You want to buy 10 lots of shares and sell them the same day? That's $200 in fees right there.
Stop making up things you have no knowledge of and giving bad 'advice'.
As I clearly said before it's a PER TRADE FEE (unless you pay for a no fee service). You want to buy 1 share? That'll cost you $10. Plus whatever amount you want to buy. You want to buy 1,000,000 shares? Again, $10 plus the amount. Same for selling. You want to buy 10 lots of shares and sell them the same day? That's $200 in fees right there.
Stop making up things you have no knowledge of and giving bad 'advice'.
Excuse me? Firstly, my father works in banking and works in risk and control and he has to examine risks involved in trading, I have been learning about this for years.
How do you propose the OP pays for high priced stocks then? And no not every stock has a $10 trading fee, that is completely wrong, it would not be profitable to trade stocks
Original post by Duncan2012
We're not getting off topic, I'm explaining why your suggestion to buy lots of small amounts of stocks is a very bad idea whether you're 17 or 70.
As I clearly said before it's a PER TRADE FEE (unless you pay for a no fee service). You want to buy 1 share? That'll cost you $10. Plus whatever amount you want to buy. You want to buy 1,000,000 shares? Again, $10 plus the amount. Same for selling. You want to buy 10 lots of shares and sell them the same day? That's $200 in fees right there.
Stop making up things you have no knowledge of and giving bad 'advice'.
As I clearly said before it's a PER TRADE FEE (unless you pay for a no fee service). You want to buy 1 share? That'll cost you $10. Plus whatever amount you want to buy. You want to buy 1,000,000 shares? Again, $10 plus the amount. Same for selling. You want to buy 10 lots of shares and sell them the same day? That's $200 in fees right there.
Stop making up things you have no knowledge of and giving bad 'advice'.
you can get services for as low as $5, they will get the job done for a $10 stock!
(edited 8 years ago)
Original post by sw651
Excuse me? Firstly, my father works in banking and works in risk and control and he has to examine risks involved in trading, I have been learning about this for years.
How do you propose the OP pays for high priced stocks then? And no not every stock has a $10 trading fee, that is completely wrong, it would not be profitable to trade stocks
How do you propose the OP pays for high priced stocks then? And no not every stock has a $10 trading fee, that is completely wrong, it would not be profitable to trade stocks
I think you need to go back and ask daddy for some more lessons because you're obviously confused. Go set up a practice account (eg https://www.share.com/accounts/other-accounts/practice-account/account-overview/) and see how fees eat into your capital.
Original post by sw651
you can get services for as low as $5, they will get the job done for a $10 stock!
Even in that case $5 fee to buy + $5 fee to sell = $10 in fees. Your $10 investment will need to show a 100% profit just to cover the fees. I don't see how I can make this any clearer?
Original post by Duncan2012
I think you need to go back and ask daddy for some more lessons because you're obviously confused. Go set up a practice account (eg https://www.share.com/accounts/other-accounts/practice-account/account-overview/) and see how fees eat into your capital.
No, because I already know how to trade shares, thanks for the advice, I notice you have a degree in engineering, does that teach you about trading? The point was can the OP trade shares at 17, to which the answer is no, because it is too expensive. You made this into an argument you halfwit.
And actually you seem to forget that nothing is set in stone with stock markets, over a stretch of time, the $10 fee will become irrelevant as it will ultimately be a profit, even if it is a few cents!
Original post by sw651
Excuse me? Firstly, my father works in banking and works in risk and control and he has to examine risks involved in trading, I have been learning about this for years.
Perhaps you ought to continue learning for a few more years.
Duncan2012 is correct in that almost all brokers for small volume trades will charge a set transaction fee regardless of the actual value of shares being traded. Spending £10 to trade £10 worth of shares is insane.
Original post by Duncan2012
Even in that case $5 fee to buy + $5 fee to sell = $10 in fees. Your $10 investment will need to show a 100% profit just to cover the fees. I don't see how I can make this any clearer?
Yes, but a share is not designed to be instant profit, you would only sell once a profit has been gained, that could take a while! If your theory was 100% correct then there is very little chance that anyone would make a profit in stocks and shares, but they do.
Original post by Reue
Perhaps you ought to continue learning for a few more years.
Duncan2012 is correct in that almost all brokers for small volume trades will charge a set transaction fee regardless of the actual value of shares being traded. Spending £10 to trade £10 worth of shares is insane.
Duncan2012 is correct in that almost all brokers for small volume trades will charge a set transaction fee regardless of the actual value of shares being traded. Spending £10 to trade £10 worth of shares is insane.
I have studied trading in stocks for long enough.
The fact is in the long run, which trading shares is, the £10 fee would become irrelevant!
Original post by sw651
The fact is in the long run, which trading shares is, the £10 fee would become irrelevant!
Having a high charge to value ratio on share trading only increases the gains required to break even and so greatly increases the risks involved.
Surely, if your father is an expert in risk, he would have taught you the concepts?
Original post by Reue
Having a high charge to value ratio on share trading only increases the gains required to break even and so greatly increases the risks involved.
Surely, if your father is an expert in risk, he would have taught you the concepts?
Surely, if your father is an expert in risk, he would have taught you the concepts?
I understand that, and yes I understand the risk involved.
My point is, low value, high volume, the end profit although small, would cover the costs of the trade. Either way, trading stocks at all is risky as there is no guarantee of any return
Original post by sw651
I understand that, and yes I understand the risk involved.
My point is, low value, high volume, the end profit although small, would cover the costs of the trade. Either way, trading stocks at all is risky as there is no guarantee of any return
My point is, low value, high volume, the end profit although small, would cover the costs of the trade. Either way, trading stocks at all is risky as there is no guarantee of any return
You clearly don't understand. The likelihood of you making 100% profit on any share is basically impossible with your 'experience'.
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