In this video about how to buy stocks for beginners, we will discuss how to open a trading account. Before you start a trading account, you should have a minimum of a 6 month cash reserve set aside as an emergency fund. There is nothing worse than being in a down market and being forced to sell for personal reasons. Trust me, I have been there. This should be enough to cover all of your living expenses over the next 6 months.

How To Buy Stocks For Beginners:

If you are looking to trade stocks and ETF’s you need a brokerage account. Online discount brokers are a good option for beginners. Popular choices are Fidelity, Charles Schwab, TD Ameritrade, Etrade and Scottrade. Each broker offers different perks, do your research and see which one best suits your needs. Remember, if you are planning on carrying a low cash balance make sure you won’t get clipped with a maintenance fee.

How To Open A Trading Account:
1. Establish a 6 month cash reserve.
2. Research and decide on a stock broker.
3. Open a trading account. You will need to provide proof of identification when you do this. They may ask for SSN/Tax ID, driver’s license or passport information, employment status, annual income, net worth and investment objectives.
4. Transfer funds from an existing bank account. Your broker may also allow you to mail in a check or wire funds via western union.
5. Familiarize yourself with the market order types offered by your broker.
6. Familiarize yourself with the trading platform.

Cash Account vs. Margin Account

A cash account is what the majority of investors are looking for. With a cash account, you pay for securities in full at the time of purchase. A margin account is completely different. If you open a margin account, your stock broker has the ability to loan you money. Interest is paid on this money if it is used.

If you decide to open a margin account, you need to be familiar with a margin call. This is where a broker firm can require you to deposit cash or they can sell ANY securities in your trading account to cover a loss. Familiarize yourself with the brokers policy on this.

Uninvested Cash

Your stock broker may offer an option to invest your cash balance in a cash management system or a cash sweep. This can allow you to earn a small interest rate or dividend on your uninvesed cash.

Learn how to invest in the stock market…
FREE *STOCK MARKET* GUIDE: http://cli.re/6ZWnYR
Stock Market Mastery Course: http://cli.re/6JpAax

The books I recommend…
#1 BOOK I RECOMMEND (Wealth): http://amzn.to/2sncXrg
#2 BOOK I RECOMMEND (Mindset): http://amzn.to/2smXaIW
#3 BOOK I RECOMMEND (Happiness): http://amzn.to/2smO0Mv
#4 BOOK I RECOMMEND (Investing): http://amzn.to/2rsXWny
#5 BOOK I RECOMMEND (Tony Robbins) http://amzn.to/2vtNDAy

Follow me on other platforms…
Website! http://www.ryanoscribner.com
Follow me on Twitter! https://twitter.com/RyanOScribner
Facebook! https://www.facebook.com/ryanoscribner/
Snapchat! ryanoscribner

My equipment…
OLD CAMERA: http://amzn.to/2smXFCO
NEW CAMERA: http://amzn.to/2ymeocl
MICROPHONE: http://amzn.to/2t7kR7V
LAVALIER MICROPHONE: http://amzn.to/2u1j45q
TRIPOD: http://amzn.to/2qOSKZ5
SD CARD: http://amzn.to/2rttI3K
LIGHTING: http://amzn.to/2wsELQJ
ACOUSTIC PANELS: http://amzn.to/2s2ywjr

If this video brought value to you, please leave a like! If you are looking to find out more about anything I discussed, drop me a comment. Subscribe to be updated on my journey through life!

If anyone is looking to open a stock trading account, I highly recommend Robinhood as they offer free stock trading. I recommend them because this is the stock broker I use. Unlike traditional brokers, they do not charge commission on trades or require a minimum account balance. If you are interested in signing up, here is the link:

http://share.robinhood.com/ryans964

This is an affiliate referral link. You do not have to use it. I make a small commission for referrals.

DISCLAIMER: I am not a financial adviser. These videos are for educational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.

CALL MY CHANNEL HOTLINE AND LEAVE A QUESTION!
754-666-3972 (754-MONEYQA)

(Send me something)
Scribner Media LLC
PO Box 641
Ballston Spa, NY 12020
Video Rating: / 5

Financial literacy isn’t a skill — it’s a lifestyle. Take it from Curtis “Wall Street” Carroll. As an incarcerated individual, Caroll knows the power of a dollar. While in prison, he taught himself how to read and trade stocks, and now he shares a simple, powerful message: we all need to be more savvy with our money.

Curtis “Wall Street” Carroll overcame poverty, illiteracy, incarceration and a lack of outside support to become a stock investor, creator and teacher of his own financial literacy philosophy.

Carroll grew up in Oakland, California surrounded by poverty. In 1996, at 17 years old, he committed a robbery where a man was killed. He turned himself in and ended up in prison with a 54-to-life sentence. While in prison, the stock market captured his attention, but he was illiterate. Finally motivated to learn, he taught himself how to read at 20-21 years old, and then he started studying the stock market. Carroll’s role models changed from drug dealers and sports figures to Bill Gates and Warren Buffet. He wanted others to learn this new way of making money.

When Carroll arrived at San Quentin in 2012, he met Troy Williams, who helped him start the Financial Literacy Program. Together they created the philosophy F.E.E.L (Financial Empowerment Emotional Literacy) that teaches people to recognize how their emotions affect their financial decision, and how to separate the two.

This talk was given at a TEDx event using the TED conference format but independently organized by a local community. Learn more at http://ted.com/tedx
Video Rating: / 5

Email This Post Email This Post