^^Here's some bad advice more than likely from a yestergeneration. No wonder things went to ****. Save a lot of money and then throw it into the stock market at once without any experience.
And here's some advice that's just wrong...
I have been looking to open a trading account myself but haven't done it yet. I have done some research. I think Scottrade has a minimum of $500 and other places are around $1000. Also, I think the cheapest trade fee is Scottrade with a rate of $7.00 per trade. Considering this, $200 is too little to invest. You would have to wait for more than a 3.5% increase before it would make financial sense to trade. You'll just be watching the stock like you could be right now. I would up your investment to $500 or $1000. It isn't too much to lose (if you have income), and you'll be more inclined to trade.
You have to have enough on hand in the account to meet the minimum govt requirement, and then enough to trade in 100 share blocks on top of that. You're not going to make much money trading penny stocks, so you need to plan on making trades in the $2500+ range for each stock.
You're giving advice based on your experience of what, looking in to opening a trade account at a online brokerage firm? I medically retired a couple years ago at age 35. How do you think I was able to afford that, and continue to live as I always have? I don't live like a king, but I don't owe anything either. The only exception is the house that I just bought, but that's ok, because the rent from the other house that I bought 6 years ago with cash pays my mortgage.
Edit: I just checked, and sure enough, you can open a trading account for as little as $500, but I wouldn't suggest it. Why in the hell would you want to do all the work researching before you make a trade, pay all the trade fees involved, and deal with all the end of year tax crap to clear $17.50? Stick the money in a money market account, and save up until you have at least 10K. Then you can purchase a few quality options and make some real money. At least it is worth the trouble you have to go through.