online investing by sofikozma

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									                       Greater Tampa Bay PC User Group
                                     Internet SIG – February 2000

                                          Online Investing

What You Need
Different online brokerage features will appeal to different types of investors. For example, if you're a
hyperactive trader, low commission rates, streaming quotes, and site speed are probably tops on your list.
No matter what your investing style, there are a few features you should expect from every online broker:
      SPEED If a broker site can't execute your trade quickly, you could lose money. Trading screens, quotes, and charts
       should load quickly; trades should be executed within seconds followed by quick online confirmations.

      EASE OF USE The site should be simple to navigate. Quotes should be accessible from the trading screen, along
       with charts and news. Can you switch accounts easily? Can you get to the service you want with one or two mouse
       clicks?

      GOOD CUSTOMER SERVICE Make sure there's a toll-free customer service number listed, as well as a support e-
       mail address. Send a test message or call the customer service number to find out how long it takes to get a response.
       Time is crucial when you're trading.

      DIVERSE SECURITIES Online brokers are known for their dealings in stocks. But what if you want to trade
       options or mutual funds? What about penny stocks and bonds, and access to IPOs? Make sure your broker offers the
       securities you're interested in trading.

      EDUCATIONAL TOOLS If you're not a seasoned trader, or you want to learn more about different types of
       securities, such as options or foreign stocks, make sure your broker offers informative tutorials and articles. Look for
       investment simulation games, interactive tools, and a basics section.


What You Get
To give you an idea of what you'll find when you go shopping for an online broker, visit the following
web sites and review the most recent broker rankings by Barrons, Gomez.com, Money.com, and
SmartMoney. It's not meant to be the last word, but rather a starting point for investors who want to move
online.

Open a Brokerage Account
There are dozens of brokers available to choose from. To see lists, visit www.yahoo.com and search for a
“broker”. Choose one or several brokers and complete all forms necessary to open an account. Deposit
the funds you want to use for trading. Consider investing in mutual funds before stocks and options.

What’s Next?
Learn the lingo. Paper trade. Research, research, research. Choose the companies (stocks) that you want
to invest in. Read books on investing. Here are some of my favorites for aggressive investors.

      Online Investing, Jon D. Markman

      Wall Street City, Your Guide to Investing on the Web, David L. Brown and Kassandra Bently
                                                                                                    Page 2
     Cyber Investing, David L. Brown and Kassandra Bently

     How to Make Money in Stocks, William O’Neil

     Wall Street Money Machine, Revised for the New Millennium, Wade Cook

     Stock Market Miracles, Wade Cook

     Safety 1st Investing, Wade Cook

Research

     CBSMarketWatch (www.cbsmarketwatch.com/)

     CyberInvest.com (www.cyberinvest.com/)

     Raging Bull (www.ragingbull.com/)

     CNBC.com (www.cnbc.com)

     Tampa Cornerstone Investment Club
      (http://communities.msn.com/CornerstoneInvestmentStrategies/home.htm)

     SmartMoney.com (www.smartmoney.com/marketmap)

     TheStreet.com (www.thestreet.com/)

     BigCharts.com (www.bigcharts.com)

     NetBulls.com (www.netbulls.com)

     SplitTrader.com (www.splittrader.com)

     ClearStation.com (www.clearstation.com)

     EquityAlert.com (www.equityalert.com)

     SignalWatch.com (www.signalwatch.com)

     Upside.com (www.upside.com)

     Wall Street City (www.wallstreetcity.com)

     MSN MoneyCentral (moneycentral.msn.com/investor/home.asp)

Favorite Brokerage Firms

     Datek.com (www.datek.com)

     EDreyfus.com (www.edreyfus.com)

     Ameritrade.com (www.ameritrade.com)

     Etrade.com (www.etrade.com) [Online game]

              Prepared for the Greater Tampa Bay PC User Group Internet SIG by Charles Vanderford
                                                                                                   Page 3
     Fidelity.com (www.fidelity.com) [Powerstreet Pro]



Email: charlie@grad.usf.edu




             Prepared for the Greater Tampa Bay PC User Group Internet SIG by Charles Vanderford

								
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