(Skip to the 3rd paragraph for the basics.)
Alright, so for starters, I'm in high school. I'm 17 and have two jobs: one is for fun, basically, and the other is a job that I can live off of. I go to a nice private high school that provides us with iPads. I recently learned about stocks and got into this app called Stock Wars. I know the basics and some more of the advanced stuff, and I also know how to calculate everything about a stock and everything. I'm up before 7:00 and name at 4:30. I spend almost all my time fake stock trading, and I've done really well. I trade as a hobby, so I am constantly checking my fake stocks, and I even have alarms set for them. I buy and sell quickly because it's my main pastime. I'm really good at trading long term because of my personal interests, and I know when stocks in military, sports, and video games will be good. I've done really well so far... with a fake $100,000. I've tried trading quickly with a reasonable amount that I would likely have, and I haven't had any luck day trading.
I really want to get into it, and I'm currently working on getting a brokerage account on Ameritrade or some others. I in total have around $1000 and I'm probably looking to only invest $400-$600. I've been saving up for nice computer for a long time, and I just got enough but I also got into stocks so I'm kinda stuck. I want to invest, but if I do, I want my money back quick so I can get the computer too.
Basically I have $400-$600 to invest, I have all the time in the world to do this, my dad can help me on a personal level, and I'm doing this as a hobby and for spending money. I'm aware of the risks and the commission fees. I know how to diversify my stocks and I know about losing money. I do not NEED money for anything and I really have nothing to lose. I am aware the fake game does not give me any experience on the real world and I'm not going to blow all my money on something I know nothing about.
Recently I started investing in amounts that I would be using realisticly and I'm only making a couple of cents or a few dollars (with commission fees)
Can I start trading with that amount? If so how? Is it possible to trade daily, or will I have to wait a long time Before I make the money back? Do you have any suggestions on a broker? Can I make money for just day to day use? Am I going to be stuck make $2-$3 at a time or am I doing something wrong?
.With a fake $100,000
Psychologically trading in real money is very different than trading in fake money. The fear of loosing something valuable changes the equations. So be careful with it. On other point, $400-$600 / month ? Check how much brokerage fees you will be charged, that might make it uneconomical. But if you are willing to pay for the experience by all means go ahead.