Scottrade My Way To Riches

Well, I finally did today what I have been thinking about for a long time. I opened an account with Scottrade online today with the hopes that I too can cash in on the amount of money being made in the markets. Every day I read the financial news and see how much cash is floating around out there and how the world economic markets are amassing fortunes for individuals and I wanted in. I funded my account with a small amount of money with the idea that the less I have invested directly in the market, the less I may lose. Of course, the less I have invested, the less money I’ll make, but I put in what I was comfortable with for now. I realize that for every equity trade I execute, there will be a $7 commission I will have to pay (still the cheapest of the online brokers), but I plan to stick with various mutual funds to safeguard my cash and hedge any risk from a global economic downturn (as is predicted by many in the near future). I have paid attention the past few years to stock recommendations in BusinessWeek, the Wall Street Journal, and other publications, but now will finally have direct control over what I buy or sell. My decisions will bring me fortune or frustration. Like it has for so many other people, picking winning stocks may become a game to me. And as with any sport, you win some and you lose some. After years of sitting on the sidelines, I am ready to get off the bench and play.