18 year old wanting to start trading - Aussie Stock Forums

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  1. #1

    Default 18 year old wanting to start trading

    I'm 18 and am in my second year of university. I'm studying finance/mathematics and am interested in opening up a trading account for the ASX.
    Would anyone be able to suggestion what account i should open with and what software to use as a beginnner?
    I'm trading $2000

  2. #2

    Default Re: 18 year old wanting to start trading

    ill bite, being 19 myself and having made a few trades.

    few questions first:

    1- how do you plan to trade? this is important! how long you planning to hold, how are you choosing stocks etc http://www.trade2win.com/media/knowl...plate_2005.pdf
    2- are you willing to lose all that $2000? not saying it'll happen but it can happen. Even a loss of 5% can be very stressful for the first trade
    3- I'll be honest, its gonna be hard with such low capital. You'll be able to trade 1-4 stocks. diversification helps!
    4- I'd use commsec if I were you. Take their intro offer. $500 free commission. allows you to trade without worrying about the extra costs of commission when starting
    5- check out incrediblecharts its free and great for technical analysis

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