Start up capital

blaz0430 · 14 August 2014

would $1000 be enough start up capital to start trading?

burglar · 14 August 2014

blaz0430 said:
would $1000 be enough start up capital to start trading?

Hi blaz,
If you are on free brokerage, ...
If you are able to add later, ...
I would say yes.

There is a great thread here:

https://www.aussiestockforums.com/forums/showthread.php?t=19955

blaz0430 · 14 August 2014

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!

McLovin · 14 August 2014

blaz0430 said:
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!

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.

burglar · 14 August 2014

blaz0430 said:
... My brokerage is currently $29.95 (com sec) ...

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.

pinkboy · 14 August 2014

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

pinkboy

blaz0430 · 14 August 2014

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

blaz0430 · 14 August 2014

burglar said:
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.

may i ask what advanced conditional orders are?

burglar · 14 August 2014

blaz0430 said:
may i ask what advanced conditional orders are?

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)

burglar · 14 August 2014

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

pinkboy

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

A good discount!

tollbridge · 14 August 2014

burglar said:
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.

$3000 if you are under 25.

ROE · 14 August 2014

blaz0430 said:
would $1000 be enough start up capital to start trading?

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.

Start up capital

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