Just seeking a little bit of information and advice here. I am a student who has 5k spare, in which i want to invest. What i wish to do is place 3k into blue chip stocks, and with the remaining give day trading a whirl. I understand it isn't a lot to start with, and I am not seeking advice regarding I shouldn't be doing this. This is happening, i want to learn.
My biggest issue right now is finding a broker. I day traded recently using ANZ Etrade, and saw my profits get eaten up in commissions (2 Hours - $105 profit - $40 brokerage fee = :l). So in that light i have been looking for a new broker and have narrowed it down to three.
Brokers of choice:
Now regarding OptionsXpress, i am not sure if they are chess sponsored. If somebody could tell me I would appreciate that greatly. Considering I am holding 3k of my 5k, chess sponsorship would be the way to go, unless directed otherwise.
In summary, I am in search for a broker in which i can hold a good 75 - 80% in blue-chips, and 20 - 25 % day trading. What broker would be best suited for me?
Also regarding books, there are a ton out there, what would best suite somebody starting out? Something that would teach you analysis, risk, etc. Looking for a book with information not stories.