Description: This is an article about scottrade login. Scottrade is a strong candidate for beginner investors who want more than online-only service. This is going to be a review of scottrade.com which is intended for a beginning investor who is looking to open an online brokerage account.
Back when I was trying to decide which online broker I wanted to use, I remember the feeling of a little bit overwhelmed with all the choices comparing all the different features.
I wanted this hopefully to help people out and make their decision a little bit easier. Some of the main reasons that I chose Scottrade is that they had a very low account minimum. There’s a $500 minimum deposit.
The deposits are very easy to make on Scotttrade. After signing up within a half an hour, I had my money deposited on the site and I was ready to make trades. I’m looking to get up and go quickly. Scottrade is a great option.
That’s not why I would recommend Scottrade. I would recommend Scottrade mostly for the great customer service. I have a local branch near my house. Sometimes I have seminars there, for five questions I can call them at any time and they’ll walk me through whatever I need to figure out.
For beginning investor you’re going to run into problem, you’re going to run into things that confuse you, it’s always nice to have someone to call and to explain everything to you. The other reason I chose Scottrade was the non-existent fees.
There’s no maintance fee. There’s no faint inactivity fee. They also make doing your taxes very easy and simple. I use TurboTax this year and it uploaded all of my trades throughout the year. I did everything automatically for me.
Scottrade is a very user friendly interface. If you’re not a very academic person, this is perfect. If you’re new to creating, this is perfect. Because it has a very simple layout which doesn’t come with all the bells and whistles. One wrong click and you’re selling off your entire portfolio, there’s nothing like that.
It’s very straightforward, the interface is simple, it’s customizable which is nice, for you its layout easily got the tabs up top. When you open your account, you get your watchlist, you can see what the market is doing.
You can see where your funds are, you can make a quick trade, you can see how long the market will remain open. If you are looking to make a trade to have the trade tab, this is not where I make my trade, but you can do it.
If you want, I’ll show you a little bit later on how I make my trades, my account goes into the details of your account, I don’t want to pull that up, because everything’s going to be blurred out. If you want to pull up some quotes, do some research.
Obviously this is the place to go for that, I don’t use Scottrade. I try to be a little bit slow and the layout is not as nice as a lot of other third-party sites like Market Watch or Google Finance. That’s where I get my quotes and do my research.
If you are so inclined, you can open bank accounts, check accounts to see these money markets through stock trade which is nice. I have done any banking with Scottrade, but the option is there now.
I like to use Google and do research on my own, this provides some information, those are the main tabs. Go back to the home page, something that I use a lot is the Scottrade streaming quotes, there’s also Scottrade elite but you’re going to have to pay for that streaming quote.
The market is open, so you will be able to see one thing I don’t like about this, which is every time you want to open this up, you have to download a separate file onto your computer, it’s not a huge deal if it’s for security reasons or what, but it was a little bit annoying at first.
This is the stringing quotes. What I did was that I created a list of all the banks. I get a good perspective of what the banking sector is doing at any given day. You can make all the list. You want some other stocks that I follow, it’ll also list your open positions.
I don’t have any open positions right now, so that’s empty. You get some of these things the top 10 10 stocks largest volume on the day mark movers. If you want to see the largest stocks, we needed daily Heinz.
Forward in the day loads, you can set alerts, so you have a ticker, if you don’t have this overall time, promise on behavior monitor to watch the steps, that way I can do some research, time and sales, news, a lot of these things.
I don’t use sprinkles for option chains. I don’t get into options level 2 quotes. You’re going to have to pay for those full quotes. It gives you a little bit more information. If you want to look at the dividends and the earnings, you can check out their bounce seats.
You can find a lot of this information off third-party sites. I don’t use their charting. I will show you what I use for charting. I found probably the best free charting software available on the web. I’ll get to that a little bit later on.
However if you want them with different options in a few different time periods, you can have some indicators, I have all the indicators, I’ll show you what I use. This is the streaming quote. They’re going to give you the volume on the day.
Ask price can be the bid price as Christ that you can buy a stock at, the bid price is the price that you can sell us out, when you look at stock, it’s off market back to Google Finance, you’re going to see this price.
That’s not reflective of the price, you would have to pay to find stock, if I want to buy the stock you’re going to have to pay 21.47. You want to sell it. You don’t have to sell it at 21.46. That’s not going to affect you too much, but if you look at some of the other stocks, you’ll notice that some of them have a little bit larger bid and ask price.
The difference between the bid and ask price is a little bit larger, that’s something you need to pay attention to, when you’re buying stocks, when the market is open, bid and ask price are usually close together after hours or pre market leap in ask prices.
You tend to get further and further apart, so it makes a little bit more expensive device or a little bit more risky. As I use this quick trade button, you can buy and sell stocks from this, so if I wanted to buy a full take in, maybe 10 shares at the market price, you can also do stop limits and trailing stops.
You click place order, I use it this way, so I can know what the stock is doing, get a real-time quote, when I feel I’m ready to buy, I can pull the trigger, that way I can keep my eye on what the stock is doing.
You can’t tell with momentum, it’s instantaneous with the clicks, it’s not ultra reliable, but this is the best way to do it. Let’s be streaming coils. Exit out of that. I was going to show you some of the resources that I use, if you go to professorpencil.com, I know it sounds funny, but trust me click on the the market tab.
I’m going to get a link to Scottrade, boom Google Finance, investopedia pre step catch, this is the charting software that I use, I’d recommend for anyone who’s starting out, they want to have a nice charting software, it’s a lot better than the Skype.
This is a customizable, cool, interactive charting package, you can zoom in and out using your mouse wheel, you can type in the ticker signs and it takes it to the stock. It’s easy for you to get all these different time frames.
You can even do one-minute chart, you can watch it in real time to see what the price is doing a whole lot of different indicators. They have more than enough for beginner, you can do figure Fibonacci retracements, you can draw trend lines easily.
You can create your own lists, you can sign up it, save it, you can set alarms or alerts customizable, if you want cool, that’s Scottrade.com, I hope you got something out of this. If you are going to sign up to Scottrade, take a look at the promotional code.
I’m providing in the description. What that’s going to do is to put that in before you sign up. It’s going to ask you for a promotional code before you sign up. Put that code angle, it’s going to give you three free trade to Scottrade and I’m also going to receive three free trade.
It’s a win-win trade for both of us, I’d appreciate it. If you have any questions you can feel free to leave them in the comment section. I’ll try to get to them as soon as I can.