The road to financial freedom is paved with hard work, discipline and a good knowledge of how to invest fruitfully. Finding the right sectors to invest in is good for your bottom line and for your mind. When you find an industry that you can really enjoy reading and researching about, you can put your hard work to use by moving your money into those stocks. There are opportunities everywhere.
Etrade is just one online platform where you can jump into the market and start learning at the low level. Day traders may not love this retail investing platform, but if you are looking to get started in investing and not looking to put tons of your savings into a brokerage account. With Etrade, you can start with just $500. And the interface is very simple for those new to the investing game. You can also take advantage of the investor education services.
Let’s say that you are looking around for an up and coming industry that you think will make great strides over the next few years. Take legal cannabis for example. You can read as much as you can about the ins and outs of the business of growing marijuana in Humboldt County or on the outskirts of Denver. And you can use that knowledge to find up and coming stocks in Etrade.
The legal cannabis industry is growing throughout the United States. It is already much more mature in Canada and in other international markets. California just became the sixth state to legalize weed for recreational purposes in 2018. That is a huge market with a dormant demand for legal cannabis products. It is has lots of money in Silicon Valley and in Los Angeles, not to mention media concentration and digital expertise that will allow modern and forward-thinking companies to take off.
Once the industry solves its access to capital problem, the sky’s the limit for these sectors. Traditional banking outfits need to buy in, after the federal government finally winds down and tables enforcement of an outdated drug war.
You are going to want to be a low frequency trader if you are using Etrade. It is built for casual investors that need to make a couple trades per week, at the most, and keep their wheeling and dealing to a minimum. The fees on Etrade trades can be as high as $6.95 per trade, which is not ideal for day traders. That is why you want to be able to research all the fundamentals of a stock or industry before your jump in.
For those interesting in day trading, you want to take advantage of a day trading education site that will teach you the strategies you need before jumping in with both feet. Day trading requires more savvy and risk management, because most brokerage require higher account minimums for these people.
Casual investing is the best route for those that want to use tradingsim. The company even offers brokers on call to help with different questions and trading problems. That is how vital it can be for beginner investors.
Byron Simpson is a qualified business/finance writer expert in investment, debt, credit cards, Passive income, financial updates. He advises in his blog finance cent.