Now you’re ready to start trading. Trading is the phrase for buying and selling shares.
Getting ready to trade may sound something like this: firstly, find a company you’d like to invest. Then check out their minimums. Good to go? Great. Now decide how much money you’d want to spend – $10, $50, $100? This will then determine how many shares (units of the company) you’ll be buying.
For example, $1000 may only get you two shares of Chipotle stock or five shares of Domino’s Pizza. Remember to include fractional shares if you want a smaller serving of Chipotle. Did you know, when it comes to selling, the process is reversed? You start with how many shares or units you are going to sell and this will tell you how much money you will get back.
Tips and tricks
Not yet ready to dive into the deep end, find a broker with Practice Portfolios so you can practice with fake money.