we're going to look at how to start
investing we've already covered some of
the basics of investing check the links
in the description below to see some of
those videos now we're going to look at
how to actually go about setting up your
account and I will show you some of the
basics okay so let's assume you have
some money you'd like to start investing
with let's imagine you have $1,000 now
what we need is brokerage account there
many choices out there you have
Merrill's edge Charles Schwab etrade
fidelity no list keeps going on and on
for this video let's go with fidelity
plus I already have a fidelity account
the steps to get started in each one
should be functionally very similar okay
let's head over to fidelity comm we're
gonna want to open an account and in
future videos we'll be covering what
these account types are and where they
could be best used but for now we're
just gonna go with a brokerage account
most of this is self-explanatory your
name your phone number your bank
information so you deposit the thousand
dollars and so on so let's skip ahead
for now now once you have your account
funded you're ready to start investing
so now the key question is what are you
invest in many of our videos are going
to be focused on just that for now I'm
gonna walk you through how to place your
first trade so at least you can see how
it's done but in time we'll cover every
stage of investing from making trades to
selecting investments to analyzing
performance and so on for now let's
place our first trade okay so let's
place our first trade so for this video
I'm gonna buy one share of SP why SP why
is a solid starting point from my
portfolio as SP why is an ETF that
tracks the S&P 500 so here we are on the
on the SP y description page we decide
we're gonna buy one share
when I select buy you'll see an order
screen pops up that order screen right
now says it's a stock or an ETF right
now it's about 237 in the afternoon so
the stock markets currently trading so
if we refresh this you'll see the price
change so here are some of the key
details when you're going to place a
trade under action you can select buy
sell sell all shares we want to buy how
many do we want to buy we want to buy
one now this is going to cost us two
hundred sixty three dollars and seventy
nine cents
different order types
two most popular ones on market order
and limit order when you select market
order it basically says give me the best
price you have right now and do it as
fast as you can
when you select limit order here you can
enter the price so if I didn't want to
pay more than 260 3.75 then it would
never give it to me higher than that the
system would restrict that I could only
buy it there or better time and force
Day at four o'clock today will expire
assuming it hasn't already been executed
if you choose good till cancer it'll
stay up there until you cancel it day
and good tool cancel are the two most
popular ones conditions all or none in
this case it doesn't matter it's just
one share but had I been doing 500
shares I could tell them don't buy just
a hundred at a time or don't just buy 50
or 250 or 400 give me all of them are
none of them but for this particular
trade we're gonna do buy and we're gonna
do a market order as you see all these
options go away now this is going to
happen very very fast because ESPE why
is such a popular ETF e so what I had
preview up UPS the confirmation screen
now I can see that estimated value to
6368 their commission of $4.95 total
cost typically I wouldn't want to do
just one share because I'm now being
charged 495 one trade is costing is 268
which means this has to climb just to
cover my entry this 260 360 is also just
an estimate as well see when we placed
the order the order was filled at 263
73-62 now if I go to my positions and
there's the one share of SP why it's
currently down four dollars and ninety
four cents which is no coincidence that
I just paid $4.95 for it so that's the
basics of how to set up your brokerage
account it's really as simple as filling
out the form and getting ready to start
trading the goal of this video was to
introduce you some of the basics of how
to set up your accounts to begin
investing on our next video
what are options and how they could be
utilized in a portfolio if you have any
questions about the world of investing
any suggestions on videos please post in
the comments below and please subscribe
as we continue to update with new videos
every week thank you
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