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post #1 of 42 (permalink) Old 01-10-2007, 09:03 AM Thread Starter
 
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trade stocks online?

how many of you trade online and how often do you do it? i find it addicting, always watching the sites. I'm not aggressive; just started a week ago, have been wanting to do it for a long time. i'm not going to invest too much, just lay low and play for fun for starters. there is so much time you can spend on it. not having much cash, it's hard to decide on what to invest in and the commission they take per trade kind of takes whatever money you MIGHT make.

Steve
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post #2 of 42 (permalink) Old 01-10-2007, 09:07 AM
 
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Re: trade stocks online?

Wouldn't mind trying a bt of that. What sites do you recommend?
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post #3 of 42 (permalink) Old 01-10-2007, 09:36 AM Thread Starter
 
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Re: trade stocks online?

well one site i highly recommend that i just signed up for is morningstar.com. it's $150 a year but you can go monthly. they analyze stocks and watch them for you, if you will. that site is your eyes and ears of the market. they do write-ups on any stock you are interested in. there is almost too much to read on their sites. they analyze over 1800 stocks and funds. you learn a lot. for starting traders such as us i would recommend using sharebuilder.com for trading. they have no minimum to start an account and are a great resource. i would have went with Etrade but they want $2500 to start an account....minimum. screw that.

steve
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post #4 of 42 (permalink) Old 01-10-2007, 04:24 PM
 
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Re: trade stocks online?

i opened an etrade account a few months back with a specific stock in mind to buy - put about $1100 in and bought just over $1000 of the stock. Never needed $2500 for anything.

I don't have the money to put in right now, but maybe someday...I have a house, which has appreciated in value well over $100k in 3.5 years...can't get a better/safer investment than real estate.
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post #5 of 42 (permalink) Old 01-10-2007, 04:31 PM
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Re: trade stocks online?

Real estate apreciation is absolutely worthless unless you own more than one house. Apreciation of your primary residence only means - higher property taxes. You can't sell it and cash out, you still have to buy another house to live in, and, they've all apreciated
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post #6 of 42 (permalink) Old 01-10-2007, 04:38 PM
 
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Re: trade stocks online?

true, but in my case, the equity is paying for an extension on TFMD's house to make it huge
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post #7 of 42 (permalink) Old 01-10-2007, 04:45 PM Thread Starter
 
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Re: trade stocks online?

Quote:
Originally Posted by Rich View Post
Real estate apreciation is absolutely worthless unless you own more than one house. Apreciation of your primary residence only means - higher property taxes. You can't sell it and cash out, you still have to buy another house to live in, and, they've all apreciated
exactly....you have to sell it and cash out.
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post #8 of 42 (permalink) Old 01-10-2007, 04:50 PM
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Re: trade stocks online?

rich is half correct but the point is, in the right location, you'd be better off having $100k invested in your home than "stocks" which can depreciate rapidly and subject to corporate criminals. especially short term (2-5 years). you pay property taxes but get federal tax rebates.

it's not that hard to move, and even if you're tied to a certain school district not a big deal. for secondary homes (ie. rentals) it's a no-brainer.. glen
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post #9 of 42 (permalink) Old 01-10-2007, 05:06 PM
 
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Re: trade stocks online?

Start out with the simulators.... it's way easier to lose money than to make it until you've learned how the market operates. Gotta love trading those options!

http://simulator.investopedia.com/home.aspx

http://www.zacks.com/
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post #10 of 42 (permalink) Old 01-10-2007, 05:10 PM
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Re: trade stocks online?

I used to do it, made some very good money on one sweet deal and got out. It can be totally addicting, and I wouldn't do it again. Real estate is a better, safer long term investment.
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post #11 of 42 (permalink) Old 01-10-2007, 05:17 PM
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Re: trade stocks online?

jim speaks the truth.. i know a college friend who got addicted and blew $15k in savings when he was only authorized by his wife "invest" $5k

proceed with caution as you're playing with fire.

wall street guys get $250k bonuses for a reason (they're taking your money ... pieces and crumbs from masses.... while making some rich clients lots more)... glen
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post #12 of 42 (permalink) Old 01-10-2007, 06:22 PM
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Re: trade stocks online?

This is going to sound a little bit patronising and I'm certainly not doing it to discourage anyone from having a go but......

I closely work with a whole team of portfolio managers for one of the largest UK financial companies and all I do day in, day out is write, run and test models trying to predict future asset and stock pricing.
Every portfolio manager I know diversifies like you wouldn't believe.
They have literally 100 stocks in their portfolio at any one time, together with options, assets, futures, a selection of foreign currencies, government bonds, commodities, futures and options on commodities, junk bonds, etc, etc and here's the kicker.

Even though they hedge like mad AND the market grows a substantial amount annually, (contrary to popular belief investing in the stock market is not a zero sum game) any supply shock can cause even the savviest investors to lose money.
Hell, even anticipating a supply shock (as people did after September 11) or a mild commodity supply shock (as caused by Hurricane Katrina when it shut down a bunch of oil refineries in the gulf) leads to stagnated markets (all markets take a hit) which leads to loss.

Like I said, don't want to discourage anyone or anything but let me put it this way.
I have a Bloomberg terminal (Extranex really but it's the same thing + we do have the Bloomberg terminal service running on 2x50" screens) + 2 PCs running models on my "desk" and I write 10 investment reports a week.
I also have a mock portfolio management software running so I can test things and here's what I've learned.

Treat the stock market as a casino and only invest what you can afford to lose.
Don't play with money you don't have or money you can't afford to lose because it only takes something like the whole Silicon Valley over-investment fiasco or Enron accounting issues to come up and before you know it you're holding stock thats worth 1/3 of what you paid for it with no improvement in sight.

your mileage will vary

If you are still going to have a go, do this.
Pick 10 stocks and stick their current price in a spreadsheet.
Now give yourself a fund (10k, 100k, whatever but to keep it realistic do it with what you intend to invest, after all 5% growth on $2000 is only $100 but the same 5% could be a substantial payout on 100m) and pretend divide it between said stocks.
Monitor the daily price for a month and update the spreadsheet accordingly.
At the end of the month see if you've made any money.

Just want to add that this is in no way directed solely at Steve, just a general advice for all budding part time stock market traders out there.
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post #13 of 42 (permalink) Old 01-10-2007, 06:53 PM
 
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Re: trade stocks online?

Quote:
Originally Posted by dex View Post

Treat the stock market as a casino and only invest what you can afford to lose.
Don't play with money you don't have or money you can't afford to lose because it only takes something like the whole Silicon Valley over-investment fiasco or Enron accounting issues to come up and before you know it you're holding stock thats worth 1/3 of what you paid for it with no improvement in sight.
Good advise, because I have played with stock and Live in Vegas, and I find it to be the same, however I think you can lose quicker in Vegas on 1 hand.
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post #14 of 42 (permalink) Old 01-10-2007, 07:01 PM
 
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Re: trade stocks online?

I agree with Dex...... nothing to "bank" on! Just do a simulator for fun first. Then if you've got your heart set on being the next "Gordon Gekko" here's the golden rules:

NEVER:
1- react to downgrades or upgrades
2- fall "in love" with a stock
3- trade ahead of earnings
4- trade on a rumor
5- chase a stock
6- look back
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post #15 of 42 (permalink) Old 01-10-2007, 07:11 PM
 
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Re: trade stocks online?

ill give ya guys a good one.. AAPL I sat on this one for a while and its payed.. And the last two days its well

Alot of times you got to sit on a stock an wait..

also I look at companys that are small with something revolutionary.. Its a long shot but you win some and lose some.
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