On line investing?

madmax

Anyone do this? I set up an Ameritrade account and bought some stocks. Nothing serious, just for fun. Had to have some of that GM stock...
madmax

PolkThug

madmax wrote:

Anyone do this? I set up an Ameritrade account and bought some stocks. Nothing serious, just for fun. Had to have some of that GM stock...
madmax

I've done it before, its a pretty fun way to make a little pocket change. Just make sure you read all the guidlines about fees (ie make x number of transactions a month and there is no fees, etc).

Shizelbs

I think I am about to pull the trigger on Scott Trade. $500 minimum set up and $7 trades. No inactivity penalties. Seems like a pretty fair deal. I pretty much don't see myself as a day trader, just make a few trades every month or so and let them simmer.

PolkThug

Shizelbs wrote:

I think I am about to pull the trigger on Scott Trade. $500 minimum set up and $7 trades. No inactivity penalties. Seems like a pretty fair deal. I pretty much don't see myself as a day trader, just make a few trades every month or so and let them simmer.

Sounds good, if you're low volume trading, just remember a few basics.

At $7 a trade, the total cost of buying and selling is $14. So, I wouldn't buy less than 14 shares of anything. For 14 shares of any stock, the price per share has to go up at least $1, before you can make a penny.

This is just a guideline I use for minimums, keeps things simple. If you buy too few shares, you're at higher risk because the market has to move more for you to make a gain.

reeltrouble1

I have been buying stocks on line that you dont need any broker, seems to work well for me. Several Companies do this.

RT1

Skynut

Ameritrade here.
Just for fun and only with cash I can afford to loose. (not much there right now)