Read the Fine Print Before Joining Stock Trading Clubs
What to look for in Stock Trading Clubs:
- The club needs to have clear investing and trading goals.
- The club needs to clearly specify the strategies it plans to use to obtain those goals. Will decisions be based on technical or fundamental analysis or a combo of both?
- Minimum amount of money to join?
- Trading/Investment period-Is there a minimum length of time your money will be tied up in a trade?
- Profit reinvestment/distribution- what percentage of the profits are going to be distributed to members and when will these distributions be made
- Any hidden fees or penalties for early withdrawals?
Read the fine print – before signing read everything over thoroughly and understand your commitment.
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