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[–] Womb_Raider 1 point 2 points (+3|-1) ago 

Try penny stocks, and only buy small amounts. They're higher risk, so they give you a better perspective of how easy it is to lose money in stocks. Then move on to larger, more stable stocks and see how you like it.

Take it slow or you will regret it, as I did. Damn you, NIKE stock! Damn you to hell!

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[–] RedditDead2005-2015 ago 

For a novice investor, penny stocks is not the place to get started. It's an incredibly risky and volatile market where you can lose everything overnight (which rarely happens with stocks listed on the NYSE or Nasdaq). It's also incredibly difficult to do research on those companies, and scammers doing the pump-and-dump are all over the place...and it's usually the underwriters.

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[–] Womb_Raider ago 

I only advise it so that he gets to experience losing without actually losing a significant sum of money. He'll learn caution with stocks which I think is paramount

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[–] Peynus [S] ago 

I watched 'Wolf Of Wall Street' ain't nobody getting 999 crazy commissions off of me!

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[–] PraiseIPU 0 points 4 points (+4|-0) ago 

Word of warning to penny stocks. Some trading companies will tack on an extra fee for any stock worth less than $1. On top of the usual $4-$7 per trade fee.

This can pay off like in the case of Fanny Mae/Freddy Mac which were trading below $0.20/share at the bottom and spiked to $5/share at one point. But these cases are extremely rare.

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[–] Womb_Raider ago 

Oh, jeez. Stock fees were always a racket.

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[–] multidan 0 points 3 points (+3|-0) ago 

Wall street survivor. Do it for about a year before you start actual trading.

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[–] Peynus [S] 0 points 2 points (+2|-0) ago 

Do what? Simulations?

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[–] multidan ago 

Yep. Learn from that before diving in.

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[–] PraiseIPU 0 points 7 points (+7|-0) ago  (edited ago)

You are going to get fees no matter what.

The smaller the transaction the bigger the bite out of your assets they will be taking percentage wise.

a $100 trade is worth less than pennies to any broker. Really need $1,000 to make anything significant.

http://www.fool.com/ has more info than you can read in a lifetime.

/v/investing

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[–] Peynus [S] ago 

So I should read up on, and practice simulations before ever spending anything, then take the plunge for £100s?

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[–] billdred 0 points 1 point (+1|-0) ago 

Stay out of stocks. Way to volatile. Go with something that has guaranteed return, like a MYGA. Some of them have 3% guaranteed returns. Liquidity is a little lower, but you can't lose any money.