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Start up capital

Discussion in 'Beginner's Lounge' started by blaz0430, Aug 14, 2014.

  1. blaz0430

    blaz0430

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    would $1000 be enough start up capital to start trading?
     
  2. burglar

    burglar

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  3. blaz0430

    blaz0430

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    thanks for the feedback,

    My brokerage is currently $29.95 (comsec) but i am looking at whether its worth going with interactive brokers.
    At the end of the year i will be getting $15,000 from an accident so i will be adding on to it hopefully soon!
     
  4. McLovin

    McLovin

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    Well at $29.95 you need to make 6% before you're in the black. That's a fairly stiff headwind to be sailing into.:2twocents
     
  5. burglar

    burglar

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    I believe you will need USD$10,000 in cash or assets (Shares etc.) to start an account at Interactive Brokers
    And you don't get to own the shares.

    re comsec
    It is worth getting a better broker!
    $29.95 coming and $29.95 going, is indeed a headwind.
    (You don't have to leave comsec)

    Mine is $17.99 but has no advanced conditional orders.
     
  6. pinkboy

    pinkboy

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    I only pay $19.95 with Commsec. Why are others paying $29.95? Are there options to pay more for other service within?

    pinkboy
     
  7. blaz0430

    blaz0430

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    pinkboy is exactly right it's $19 for me too i don't know where i got $29 from haha.

    thanks for the help eveyone
     
  8. blaz0430

    blaz0430

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    may i ask what advanced conditional orders are?
     
  9. burglar

    burglar

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    For me, a Stop-loss is a conditional order (I can get these at a premium)
    A Trailing Stop-loss is advanced (last time I looked, I cannot get these)
     
  10. burglar

    burglar

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    And you, (pinkboy) never take profit, only pay coming.

    A good discount! ;)
     
  11. tollbridge

    tollbridge

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    $3000 if you are under 25.
     
  12. ROE

    ROE

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    keep saving, no need to rush, learn and read while you build up capital so when you ready you
    have the knowledge and make better decision... brokerage will eat most of your cash...dont even think about it..

    my young kids under 12 odd job account has triple that amount and even then I tell them
    to keep throw their saving in there and learn the power of compounding for a while.

    even when they reach ten of thousands I would advise against jumping into the market.
    I would advise them to build a strong knowledge foundation before even thinking about doing anything
    with that money.
     
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