Any Stock Traders Here?

[Freebird]

I'm just curious if any of you use an online service such as ETrade, Scottrade, etc. to buy and sell stocks? I know that times are bad right now but I also think it's a GREAT time to make some money in the stock market if you invest wisely. I've never used an online service but there are a couple of stocks that I am intersted in right now.

[pegscraper]

Here's an outfit I've been seriously looking into. Now is a great time to know how to play the downside of the market, bearish, as they say.

 

Investools

[hillrider]

I used Scottrade for years. Easy to use site. I quit because my choices were really bad. I mean, who could lose money with General Motors - - or Krispy Kreme.

[Eddie]

Don I use ETrade, Ive had a great experience with these guys. The only thing I dont like about them is the fact that if you see a stock that you want in on right away and have your money in your ( their ) accounts all tied up with trades its hard to get instant transfers from your regular accounts to buy new ones. Well not hard but takes more time than I would like. It also takes a few days to get yourself cleared to be able to buy. They do back round checks to make sure you are real and not some drug dealer looking to launder money. lol. Trades go real easy once you figure out the method. Ive been doing my home work on the market and it is an excellent time to get in if you have time to wait.

[Freebird]

I've looked at Scottrade and Etrade. I also ran across TradeKing. They look to be cheaper and have some pretty good endorsements.

 

http://www.tradeking.com/

[az1103]

I'm just curious if any of you use an online service such as ETrade, Scottrade, etc. to buy and sell stocks? I know that times are bad right now but I also think it's a GREAT time to make some money in the stock market if you invest wisely. I've never used an online service but there are a couple of stocks that I am intersted in right now.

 

Do yourself a favor.......Stay out and watch from the side.....It could yet be a long way down.

[Eddie]

Do yourself a favor.......Stay out and watch from the side.....It could yet be a long way down.

 

Following advise like this is why we wont be getting out of this anytime soon.

[az1103]

Following advise like this is why we wont be getting out of this anytime soon.

 

Sorry, but I have to disagree..... I didn't say I wasn't in the market...... I said, may not be the time to get in. When you have an unstable situation and day-traders circling like vultures for penny profits ...it's not the time to place your bets.

The market is not suffering from a lack of participation - it's suffering from excess creativity and greed.

There is no real contribution to either the financial system or the stock market from such things as derivatives or shorting....If you want to do that, you have better odds in Vegas. And they will even entertain you rather than just rob you.

[mini-muffin]

If you're gonna get into the market do your homework. Check out the company you're looking at really well. As my uncle always said "if you can't afford to lose the money don't play". He was a trader on the floor. Good luck. If you're looking at getting in when it's cheap this is the time. You just have to be very careful what you do.

 

Margaret

[autopilot]

I quit trading stocks after '87! Don't get me wrong! I made money, just not consistently enough for my liking AND it took an inordinate amount of time to do it right. Turning my $$ over to some else to do it for me (like what happens in a 401k) just seems wrong to me. Plus, most of the brokers I know are simply salesmen rehashing the days corporate memo (unless you deal with the main guy, which rarely happens) and contractually have to take their marching orders from the main office and must use their in-house recommendations. Some of THOSE guys have track records that leave much to be desired. Whatever!

 

I am strictly FOREX (currency) trading now. There are the longer term position trades and the shorter term day trades, which I like because it keeps me sharp and it's fun (and you can make a good living at it). And no it is NOT risky unless you just go in blindly flailing or trading with your emotions.

 

If I may.......Stocks are not really as market driven as most believe (that's one reason they call those guys market makers). The prices are driven and to an extent directed by the chairs on the exchange. (they can & do run the prices up or down at will to take out the small potatoes guys like you and me for their profit....I've seen it & experienced it) What industry, product or service segment, where's the demand, who's the principals, what's the demographic, ad nauseum! Too many personalities involved that keep you a day behind and a buck short. To actually make money you have to be much more of a student than most people are willing to be and consequently listen to the talking heads opining via the brokerage houses or the fund managers (or TV). Get caught on the wrong side of a stock trade and you can be riding until the horse collapses. You can't get out fast enough, if at all! In my experience, the average investor knows enough to be dangerous and with some exceptions is exactly on the opposite side of the trade from the speculator (who is the one that will really makes the money.....He's selling when you're getting ready to buy & vice versa). I'm not crackin' on anyone who wants to work stocks, I just find them too complicated and unpredictable because of all the variables & personalities. My wife has her 401k through the company and with the matching funds & the ability to move things around relatively quickly, it's ok! I still try to ride herd on it and have her tweak it when needed. She didn't listen to me back in '87 and lost a ton; now she's more inclined to listen. (wife listening...now there's a concept! )

 

With currencies, it's the currency of course, the country of origin, their central bank authority and very few others. The actions taken by them are of necessity, by and large, conservative (because it's their money). Analysis is pretty straight forward. Trading is going on 24/7, although U.S. brokers generally shut down Friday afternoon and pick up again Sunday evening. Trade execution is virtually instantaneous and with concerted learning effort expended one can get up to speed in relative short order. A lot of the time you can be in & out of the days trading in a couple of hours (sometimes just a few minutes and you're done for the day if you want to be). There are some good training materials out there and some good courses if a person does a bit of due diligence. The trades are there.. long, short, scalping if you have a mind to. Anyway, I once again got a mite long in my response and it wasn't quite on topic to answer your question, Don. Sorry about that. Didn't intend to make a ad for forex trading. That's my fifty cents worth, just the same.

Edited March 10, 2009 by autopilot

[KiteSquid]

I used to trad stocks but I too thought it took to long, so now I am trading commodity futures and options.

 

Just like in the stock market you want to

 

Buy long on the way up, sell on the way down.

 

OR:

 

Sell short on the way down and buy on the way up.

 

There is money to be made in any market that is moving, up or down...

 

I don't think they handle Stocks, yet, but I use OpenECry to execute my trades.

Edited March 10, 2009 by KiteSquid

[pegscraper]

Here is a blog that I've been following on trading. Tim Knight is the Senior Vice President of Technology for the aforementioned Investools site.

[FreezyRider]

Here's some free investment advice:

BUY stock in AIG. Yep, the financially stressed, often bailed-out-by-the-feds AIG.

Why? Because of this little known tidbit that I stumbled upon:

 

AIG holds the retirement accounts for members of Congress. You think they're going to let them go bust???? Not going to happen.

 

Now, don't you feel all warm and cozy???

 

Joe

[Snarley Bill]

i don't do casino's, and i definately don't ever play the stock market. i like to have cash in the bank. a rich friend of mind who dabbles in the market and knows his way around it well, so he thought, is loosing his arse. luckily he was smart enough to just dabble. he was uneffected enough to ruin his life but he said he lost some big bucks. my theory is set the big money making dreams aside and be happy with what you got. greed will do you in. i don't envy the rich, i just enjoy the little i have to the fullest. bill

[cecdoo]

I'm just curious if any of you use an online service such as ETrade, Scottrade, etc. to buy and sell stocks? I know that times are bad right now but I also think it's a GREAT time to make some money in the stock market if you invest wisely. I've never used an online service but there are a couple of stocks that I am intersted in right now.

 

I use a guy named Bernie Madoff. you mite want to give him a call:crying::crying: Craig

[KiteSquid]

BTW only invest "venture capital"!!!!

 

 

DO NOT buy stocks with the rent money!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[StarFan]

I'm just curious if any of you use an online service such as ETrade, Scottrade, etc. to buy and sell stocks? I know that times are bad right now but I also think it's a GREAT time to make some money in the stock market if you invest wisely. I've never used an online service but there are a couple of stocks that I am intersted in right now.

 

Don!

I only have one advice - DON´T DO IT. I´ve been there and made some good money and lost some but I played by the rule of selling when I was down 10% and when I was up 20% - at all times. But it was to stressful. I have my money secured with rather low interest but I sleep like a baby. A good nights sleep is worth a lot.

And like someone said here above - Don´t invest more than you are willing and you can afford to loose.

[FROG MAN]

I have used Scottrade for a few years with no problems.It is a good price to buy but I still question whether the rebound has begun?

[Freebird]

Well I've never played in the stock market but last night I had this strong desire to buy some stock in Citigroup. Don't ask me where it came from and for SURE don't take my advice on ANY investment (except in VentureRider.org )

 

Anyway, I started setting up a Scottrade account but got to the point where they asked how I wanted to fund the account and I had no way of doing so from this hotel room. So...I just decided to forget about it. The price was $1.03 per share. This morning it went up to over $1.40 per share. That would have been a tidy profit. I am certainly no financial genius but I just think there are some good opportunities right now. I think there is still money to be made in Citibank but it's going to be slow. There are some others that I think are bargains right now also.

[FROG MAN]

I sent them a check when I set mine up.Then I could transfer funds into my account when I wanted on line.Buying and selling stock is exciting and profitable.Diversify and learn to play the moving averages. I never invested more then I could afford to lose and always with my own cash. I never borrowed from the house.

 

I sold the majority of my stock for a down payment on the camp.The rest is sitting in my Scottrade account.I'm getting ready to start a investment strategy for a new house and will probably get back in soon.Good luck and have fun.

[midnightventure]

I use Scottrade. I wanted to by some utility stock when the market first dived. I rode over to the closest city with a office with cash and they wouldn't take it. Luckily I had my checkbook with me. Maybe thats unluckily since the stock has dropped even more.

[autopilot]

AIG holds the retirement accounts for members of Congress.

 

Now THAT explains a heck of a lot!

[Ole]

I have used Scottrade for the last few years and have been very happy with them. I trade options and stocks. They have very low commisions with quick transactions. I used to use ETrade and am happy that I made the switch.

 

Ken