5 Trading Tips for Broke College Students
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5 Trading Tips for Broke College Students

– Today I’m gonna give you five
tips to learn how to trade, and even execute trades as
a broke college student. (upbeat music) Hey everyone, lead trader of
StocksToTrade Tim Bowen here, be sure to subscribe, and ring the bell to be notified as soon
as a new video hits. So today, we’re gonna talk
about learning how to trade and actually branching off in
executing that first trade, even if you’re a college
student and particularly, if you’re a broke college
student like I was. If you know my bio, I actually
tried trading mutual funds back in the mutual fund boom
in the mid-to-late nineties. I started out putting 50 dollars a month into these mutual funds
an it never worked out. The beauty of low price stocks
is you can make it work. Tip number one is, listen, as I mentioned, I started out trying to trade
mutual funds in the nineties, the internet kinda existed, but there wasn’t that much out there. It was Usenet newsgroups, and email lists, that dates me, maybe you
might’ve had a IRC chat channel back then, but take advantage
of the technology we’re in. I talk about this all the time, I think this is the greatest
period in history of mankind, you can learn anything, you
can find out about anything, you’re watching a video, teaching you how to learn how to trade. This was not accessible to me 25 years-ago when I was in college. Use YouTube, we’ve got hundreds
of videos on our channel, that are great to learn,
use the SteadyTrade Podcast, check out steadytrade.com, you can listen to learn how to trade, while you’re on the treadmill,
while you’re driving, maybe you’ve gotta job
that you don’t necessarily have to engage with, you
can listen to that podcast, and there’s other great
podcasts out there. Absorb as much free
information as you can, don’t discount the value
of all of this out there, just grind, absorb, live it, love it, I’ve been watching stocks since
I was in the fourth grade, and if I had the tools that you have today as a college student, when
I was in college, wow, I wonder what I could’ve accomplished when I was 22 years-old,
versus 35 years-old. Second thing I want you to do is listen, I know everybody wants
to make money today, you wanna make those trades today, you wanna get rich today, remember stock trading is
not a get-rich-quick scheme, this is something you build over time but, something I wanna talk to you about is please pay off debts first. You’re going to struggle
when you get started. Anybody that tells you
that you’re gonna find instant success in day trading, run away. This is hard. There’s a million of
different things to learn, you have to make mistakes
over, and over, and over again before the learn the lessons, before you build the discipline
to make the right decisions, if you’re paying interest, if you’ve got those debts
while you’re learning, it’s just gonna make it that much harder. Absorb the information, study paper-trade, but put that money to
work, reducing your debt, it lowers your stress,
it lowers your burn-rate, and it just makes everything easier when you don’t have to
worry about those debts and paying interest is
just throwing money away, it’s reducing your buying power, reducing your trading power, by giving money to someone else. Third thing, I talked about taking time and paying down those debts, but this is the biggest thing
and this goes for anything, if you’ve stumbled across this video because you want to learn to trade, or you wanna learn to be an architect, or you wanna learn how to be a sculpture, I don’t care what it is, start today. One of my favorite sayings is, it says the best time to plant
a tree is 20 years-ago, the second-best time is today. Take advantage of your youth,
take advantage of today, and start learning. As I mentioned in lesson one, there’s always these resources, there’s books, I’ve got
hundreds of trading books, there’s educational videos, there’s YouTube, there’s podcasts, there’s all of this information out there and the best time to start is today, and there’s no time like the present, and if you can get that 1% better a day, that is exponentially better. 1% better a day over a
year, is 3600% better, because you’re slowly growing,
slowing growing better each and every day. Fourth thing I want you to do is pick a broker that’s great for you. With StocksToTrade we’ve
got what’s called Tradier, it’s a great low-cost broker. We actually have a deal with them, where it’s $15 a month
for unlimited trades. Remember, if you’re getting started, if you’re that new
trader, expenses matter, minimize your expenses
as much as possible. Tradier is a great choice to get started, and you know what, Robin Hood, I know sometimes is portrayed
good and bad in the media, but when it comes to just
actually pressing buttons, learning the mechanics of trades, Robin Hood’s a great choice, it’s free, there are downsides, there
are market orders only, there are sometimes selling
off your order-flow, but when you’re just getting started, getting the mechanics of
actually entering a trade, keep your costs as low as possible, and look at these discount
brokers like Tradier, or even Robin Hood. Fifth thing I want you to
focus on is diversification. If you’re young, if you’re in college, man when I was in college, I didn’t know what I wanted to do. Pursue different interests. Even today, as a 45 year-old guy, I love to do construction,
I’ve got rental properties, I do stock market education
with StocksToTrade, I trade my own money, I’ve got
multiple sources of income. Be willing to try everything,
be willing to fail, I think that’s one of
the most important things as a young person that I want
to tell to you, as an old guy, be willing to fail. That’s important in trading,
it’s important in business. Pursue your passions, pursue your ideas, and focus on creating as many
sources of income as you can. If it’s selling affiliate links on Apple, brings in a couple hundred bucks a month, you can drop that in your trading account, if it’s just doing stuff
on Instagram or YouTube, maybe you’re doing videos on
YouTube that’s your hobby, if it brings in a few hundred bucks, that’s money you can put
in your trading account. And, if your trading’s not
going well, it’s other income. You’ve got that day-job,
those side hustles, maybe you’re working
construction on the side, maybe you’ve got a job in retail, keep your options open, ’cause you’ll never know what
could be the next big hit, and it gives you multiple
areas to bring in income to help fill up that trading account. The sooner you can get that
trading account built up, the sooner you can put that
trading knowledge to work and start growing that account. And realize the dream of all of us, of being that full-time stock trader. So let me know, are you in college? Drop me a comment below, and did you find these
topics and these ideas helpful to you, as that
inspiring stock trader. Thanks for watching our video, be sure to comment below with
any trading related question, we love answering your questions. Also like, and share with your friends, and be sure to subscribe
to be notified as soon as our next video hits. And if you’re looking to
expand your trading knowledge, don’t forget to check
out all our other videos, and be sure to click the trial below. Check out StocksToTrade, I
think it is one the best, most rapidly advancing
softwares out there, be sure to check out our trial.

About James Carlton

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17 thoughts on “5 Trading Tips for Broke College Students

  1. hey tim thanks for the quick video, robin hood sykes is strongly against how come you are recommending isnt dangerous for newbies in trading

  2. yes I'm in college the first year, but I'm sure that I will pursue a trading and investing career. When I succesd in this and I will (Think Big!) I look to get other sources of income and put the money made with trading and investing in other projects such as playing music, real estate, launching a company. love ❤️ all the content that you guys put out there hope to meet you one day Tim! and have a chat with you. Cheers!

  3. hey STT and tim, confused here, talked to tradier and they say they dont trade penny stocks or otc stocks …….

  4. Thanks for the video Tim! Even though I have become very familiar with the stock market over the past year+, its always nice to watch these beginner videos to ensure that I have the right mindset engraved in my brain. At the start of next month, Im finally going to be ready to enter the markets. I'd say wish me luck, but hopefully Ill be relying more on knowledge than luck! lol

  5. 🤝🤗🤝
    thank you.
    what you said made me feel like you was talking about me. I was waiting you but not much but I will pay more attention to you. thanks and I know what you did is working for you.

  6. Robin Hood has limit and stop limit orders and others Tim. I’m full time student and work over 40 hours a week and Sykes challenge student. It’s tough but I know it will be worth it

  7. Yes. I am in college =) Does Tradier makes available the $15 deal per month for us as well? Could not find in their website.

  8. Hi Tim, I love ur videos and ur quick responses. Can u clarify more on tradier brokerage, isn't that expensive for beginners, comparing to other brokers Iike Etrade, td.. That Have free trading commissions and options while tradier not?.Thanx

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