In order to make money in the stock market, you must first open a brokerage account. Tyrone Jackson, The Wealthy Investor, explains the different types of accounts and how to get started.
There are 3 different types of online trading accounts:
1) Full Service
Most of the people who open a full service account are not doing a lot of online trading. They want the advice of a professional. These types of brokerage houses take much larger commissions.
Example: Edward Jones
2) Discount
With a discount brokerage account you have the choice of having someone guide you through the stock market process or you can just trade online for one flat rate. That rate is usually from around $9.95 to buy or sell a stock to $29 for a broker assisted trade. There is still a commission, but that commission is tax deductible.
Examples: TD Ameritrade, Fidelity, and Charles Schwab
3) Deep Discount
Some people like paying as little as possible to open their account. A deep discount brokerage account has lower commissions but it is only open during the stock market hours. You also lose hours and availability of customer support.
Example: E*Trade
Matt Anthony owns and runs a recording studio but still finds time to trade stocks and create extra residual income. A few years ago a colleague of Matt’s mentioned Tyrone Jackson’s program and invited him to join. At first, the whole idea of managing his own money and trading in the stock market was very scary. There is a fear that you could lose it all. The way that Tyrone teaches trading encouraged Matt to take the leap.
Now, Matt has learned to have patience, not be greedy, and make money no matter what the market does. He marvels at the fact that he can make $2,500 a day before 9:30 in the morning.
Matt tells Tyrone about his favorite stocks to trade: Apple, Disney, and Starbucks. Tyrone agrees that Apple is everyone’s favorite stock because of its five-year chart. See below:
If you want to learn to read these charts, trade stocks and manage your own money just like Matt Anthony, join WItradeschool.com.
Click here for more information. Find your own financial freedom!