Internet Trading

Hey everyone!

I just got started with trading on the internet.  As in just opened an account on sharebuilder.com and haven't actually gotten any stocks yet.  I'm watching a few for a week or so then I'll decide which ones are worth it and which ones to dump.  Just wanted to see who did this, if anyone has any advice for a beginner and what your experiances with this kind of thing has been.

Much love! Janine

That sounds very interesting, but I've never had any experience with it. I hope you write some journal entries expounding upon your internet trading adventures!

Nobody does this?! Really? I'm shocked!

Original Post by j9gwen:

Nobody does this?! Really? I'm shocked!

I'm surprised as well. Sometimes life just doesn't make sense.

anyone have any experience with E-Trade?

I use sharebuilder.  My first piece of advice, don't gamble what you cannot afford to lose.  As in write off whatever amount you're investing, if you gain great, but if not then it's not a loss.

Second, go with the automatic trades for the cheapest fees.

Third, do as much research as you can.

What's the mimimum you can invest with sharebuilder?

I use Scottrade.  Actually, I made a trade this morning.  Might make another before the market closes if theres a nice dip.

Been trading for about two years... had pretty good success so far.

My advice: buy metals, nothing else (atleast for the next few months, if not years).

My bank is looking pretty good, to be honest. :)

What's the minimum you need to invest with Scottrade?

I use ameritrade. 9.99 per trade, so I wait until I can invest enough that the fee is small, percentage-wise.

Smart Women Finish Rich has some good info on how to choose investments (not specifics, but it explains the differnece between index and mutual funds, etc).

If you are going to need the money in the near or semi-near future, put it in a nice CD or moneymarket, not the stock market.

Good tips - thanks amethyst. Ameritrade looks good.

Long term interest, with disposable money - just to see if I can make a little dough. :)

Original Post by kathygator:

My bank is looking pretty good, to be honest. :)

What's the minimum you need to invest with Scottrade?

Minimum depends on the type of trades you want to do.  I think the bare minimum for a basic trade is like $100...?  Fees are $7.  If you want to trade on margin, you need $2000.  If you want to trade options, they might require a different amount.

Yeah - I checked the Ameritrade website (duhh)

So what do you think - has the market bottomed yet?

Original Post by kathygator:

Yeah - I checked the Ameritrade website (duhh)

So what do you think - has the market bottomed yet?

Shhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh

If anyone says it has, they'll jinx it!

Hee hee.

Here are some summaries of some reviews of online brokers.

Interestingly, they didn't give Consumer Reports high marks for their review.

Haha... bottomed out?  I think we're going to be in this recession for another year or two.

In 1981 the market bottomed out when the DOW/Gold ratio fell to 1.  In 1999, it peaked around 44 and has since fallen to 7.  My money says the DOW has bottomed out when that ratio hits 1 again.

meh - 7 is pretty close for the kinds of stock I'm interested in. :)

I'm betting the bottom is 2 to 1, gold $2,500 dow 5,000.

There's no way we've bottomed yet. The only way that might be the case is if we get enough inflation to prop up the floor with a really weak dollar.

If that's the case gold $3,500 dow 7,000.

But wtf does anyone know? It's all gambling now anyways.

My only real fear with pm's is the government can and has changed the rules to screw over the prudent small investors when it comes to alternative currencies.

So unless you have a bunch of gold coins you bought in pawn shops buried underneath your house, if they do change the rules you will be screwed.

Precisely. But the excessive decline enables lower income investors to get into some old school blue chip style stocks.