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Does anyone here trade stocks online?
    #4821627 -

If so, what company do you use?

Etrade? Or something else.  I've been reading a lot
about the issue of stock trading, I wanna throw a little
money into it and see how I do (again - I'm reading a LOT
about investing)..I want to take this on as a bit of a hobby?
I don't know... Anyone have any experiences (good or bad) with
the stock market? :argh:

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Re: Does anyone here trade stocks online? [Re: Boom]
    #4821648 -

Amerikans have more choices, you can open a portfolio with a number of private companies. Read reviews, and choose a company that fits your needs.

I also suggest you check out peterleeds.com
He is no scam artist, that dude knows his shit.

Pluto

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Re: Does anyone here trade stocks online? [Re: Boom]
    #4821661 -

I'm so very tempted to get involved with day-trading. An acquaintance of mine knows people on a day-trading forum that regularly rake in 15k a week, trading in the highly volatile penny markets.

I've read some books on the matter as well, it's a very intriguing field of work, and best of all, legit.

For now though, I feel infinitely more secure with real estate. You just can't beat real estate.



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Coffee should be black as hell, strong as death, and sweet as love.

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Re: Does anyone here trade stocks online? [Re: SkorpivoMusterion]
    #4822096 -

Yea man, it's all about the penny stocks. You just gotta play the game right...and it isn't all that hard.

I'm saving up some cash right now for a portfolio, gonna start out small and see how it goes.

Real estate is hot, gotta have cash though.

Pluto

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Re: Does anyone here trade stocks online? [Re: Tien]
    #4822213 -

I don't make much but I invest when I can. Shareholder.com is the only house that I have experience with. It offers alternatives to per-share by allowing fraction shares to be purchased by cost basis. It is, however diseased in the same way AOL has been for years. It's cost per trade is masked in a way that is deceiving by a per month system. 14.99 for an unscheduled (at only one time per month) purchase...and to top it off 14.99 for ANY sell.... It turned out to be not worth my time, for the small amounts I was building up with (My AIG stocks went up a fair amount- but with my low amount of money that 30% was even paying costs of the service.

ShareBuilder offers user friendly trading, but not a justifiably cost.
And anything can become to simple for its own good.

I'm in the processes of moving over to Scott's Trade. Only been hearing good things.

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Re: Does anyone here trade stocks online? [Re: Tien]
    #4822241 -

How much money would be necessary to make a reasonable investment in penny stocks?

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Re: Does anyone here trade stocks online? [Re: Redstorm]
    #4822389 -

From my past research, the min. usually accepted by successfully Day Traders was 20k of separate funds from your own (That 20 is only for investing). Penny stocks are very risky.


Think of day trading as being a poker shark at the local casino.

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Re: Does anyone here trade stocks online? [Re: Redstorm]
    #4823476 -

Redstorm said:
How much money would be necessary to make a reasonable investment in penny stocks?


Some companies will require thousands of dollars as a deposit to open a portfolio (which you need for trading), others will ask for only for a hundred bucks or so.

You could start with $40 if you wanted to. $2 a share, thats 20 shares. Wait for the price to rise to lets say...$4...sell, thats $80 back. Simple as that.

Pluto

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Re: Does anyone here trade stocks online? [Re: Tien]
    #4883785 -

Penny stocks are extremely volatile, and often enough since most serious investors consider stocks under $3 "on their way to zero" - there will be very light volume on these stocks.  This means that the changes in stock price can become greatly exaggerated when ambitious buyers or sellers have their eye on that specific inexpensive stock.  The worst part is, say you're holding 10,000 shares in a company whose stock is $1 per share.  Well the stock may move up to $1.25 on low volume, but the problem is that if you have 10,000 shares, and the stock only peaks for a short period during the day, the volume (which in these stocks is often well under 10,000 per day) may not even allow you to unload your shares at the high price.  Thus, you get stuck with a partial sell (in which case you'll have to pay another brokerage fee for a future trade to finish unloading your position), or you have to sell at a lower price to ensure that you can unload your position in one trade.

When I first entered the market about 6 months ago, I fell into the misconception that penny stocks are great - and while they undoubtedly offer a great POTENTIAL, that potential is rarely realized and there is equally (if not more) chance of losing money.  You also have to consider short-term versus long-term capital gains, as being a day trader could incur taxation of up to 25% on your take-away.. granted if you sit at your screen for 7 hours each day and watch every ticker, you'll probably be able to walk away with some cash - but in my opinion it's not worth the effort.

I would aim for long-term investments in the best of breed companies - it's safer, many will yield dividends while they hold your money, and you don't have to stress as much with all the volatility.  This game takes incredible discipline, something I thought I had - but after playing in the markets for the last half-year, I've once again realized that experience is by far the best teacher, and that losing money is an excellent way to learn :wink:


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┼ ··∙   long live the shroomery  ∙·· ┼
...╬π╥ ╥π╬...

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Re: Does anyone here trade stocks online? [Re: geokills]
    #4883826 -

I have to admit my mom's a broker and handles all my stocks. I've been preoccupied with school to pay really close attention although I'm planning on getting into it more when I graduate.


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...the whole experience is (and is as) a profound piece of knowledge.  It is an indellible experience; it is forever known.  I have known myself in a way I doubt I would have ever occurred except as it did.

Smith, P.  Bull. Menninger Clinic (1959) 23:20-27; p. 27.

...most subjects find the experience valuable, some find it frightening, and many say that is it uniquely lovely.

Osmond, H.  Annals, NY Acad Science (1957) 66:418-434; p.436

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