General Requirements for Stock and Options Trading
What you need to get started in trading
Here is a quick checklist of the things you will need to get started trading stocks or options:
- Extra Money-- Trading stocks and options can be fun and profitable, but you can't do it without having some money to invest. Do not use borrowed money to invest. For Options Trading, you can trade with as little as $1000 in your account. For Swing Trading, you will generally need $5,000 or more. Day Trading can be done with $5,000 (on the S&P emini only), but generally requires an account greater than $25,000 to day trade stocks
- A Brokerage Account-- You will deposit your money into an account with an online broker. Then through this broker you can buy and sell stocks and options. You can withdraw your money at any time. Crestrade recommends thinkorswim as the best online brokerage.
- Access to Stock Quotes and Charts-- Knowing what price a stock is at is key to trading. Most online brokers like thinkorswim offer this data to clients free of charge
- Discipline -- Profitable stock and options trading is all about eliminating the emotions of profits and losses. Your membership to Crestrade will give you full access to trading experts who will not only alert you when they see great trading opportunities, but also be there for you in our trading room when you have questions.