Making your First Trade Step-by-Step (Video)
In this lesson we are going to learn how to apply the concepts that we have learnt on previous lessons.
In order to buy or sell any stock you need to go through the following steps:
1. Open your Brokerage Account:
Once you hit the Open account button simply fill in all the personal data and your tax information and it will take you to your new Stock Broker’s Homepage.
2. Fund your Account:
After opening your broker account look for the “Fund your Account” button, in there you will link your bank account to your broker’s that way you can transfer money either way. (Keep your routing number in hand).
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3. Click the Trade button:
In here you will be asked to fill a form to indicate what is it that you want your broker to do. Whether it is buying or selling stocks.
Trades were made using Scottrade Brokerage.
4. Fill in your criteria
- Select how many stocks you want to buy
- Select what company you wan to buy the stocks from
- Select what order type you want: Market, Limit, Stop
- Select the Duration of the Order.
5. Hit “Place Order”
After you place the order, review all the information and make sure is correct. Confirm your order.
You are ready to make some serious money in the Stock Market. Welcome to your new life of Investing.
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*Remember to do not buy or sell stock solely on what you hear on the news. Investing can make you lose money, especially if you haven’t done the right homework before buying.