Advice for trading stocks online please

Discussion in 'Off-Topic' started by mike4cy, Mar 18, 2009.

  1. mike4cy

    mike4cy Well-Known Member

    Aug 4, 2006
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    So I am thinking about starting to buy a few stocks online in the near future, and I am definitely a beginner with this. What advice do the more seasoned verterans have for a first timer? Is there a site that is head and shoulders above the rest ( e*trade or scottrade or something like that) Any tips or hints? Thanks to anyone willing to give up their secrets. :cool:
     
  2. cmoneyr

    cmoneyr Well-Known Member

    Nov 8, 2006
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    Couple people I know use TradeKing. One also uses Scottrade, I've heard decent things about both.
     
  3. Jeremy

    Jeremy CF Founder
    Staff Member

    Feb 28, 2006
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    Waukee, IA
    I use Sharebuilder but have thought about switching to E*Trade just because of a few tools they have. I have watched the markets very intensely for years but just started investing personally this month. So far I'm up about 46% across my portfolio.
     
  4. djkent01

    djkent01 Well-Known Member

    Feb 21, 2008
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    Find different things that may work for you. Then set up mock portfolios and treat them as they were real. It gives you a great parallel run and lets you find out what works best for your tendencies and philosophies.
     
  5. Cy Hard

    Cy Hard Well-Known Member

    Jan 5, 2008
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    Go with E*Trade and rent a clown named Bobo, but just don't underestimate the creepiness factor.
     
  6. CloneIce

    CloneIce Well-Known Member

    Apr 11, 2006
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    Play Poker instead! The game is fairer and the participants more honest. :smile:
     
  7. Dryburn

    Dryburn Well-Known Member

    Apr 3, 2006
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    I use Scottrade, and have never had any problems with it. Plus, it is hard to beat the trades, no matter the size, for only 7 bucks. And, they have a good tracking program. Have never used the others. Never had a reason to switch.
     
  8. brianhos

    brianhos Moderator
    Staff Member Bookie

    Jun 1, 2006
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    I have always used ameritrade, works fine for me, the tools are nice, and it is easy to fund.

    I have also used E*trade, and the two services are about the same.

    I think I signed up with Ameritrade because they were giving a free Ipod out with every funded account.
     
  9. kilgore_trout

    kilgore_trout Well-Known Member

    Nov 10, 2006
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    I use Scottrade. It is cheap, easy to use and has decent tools but doesn't have free dividend reinvestment for dividend paying stocks (if that matters).

    I also have a Schwab account for an IRA that I recently converted to a Roth. I have to say that their telephone customer service was shockingly good.

    Both Schwab and Scottrade have local offices in most of the larger cities which can be a nice convenience.

    FWIW. Good luck.
     
  10. dmclone

    dmclone Well-Known Member

    Oct 20, 2006
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    If there is a possibility that you won't trade all the time you may want to 2nd think e-trade. They charged me inactivity fees.

    I've heard good things about scottrade.
     
  11. zmjames6

    zmjames6 Member

    Apr 11, 2006
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    Burlington
    I just signed up with E-Trade. But beware you have to wait 7 to 10 days before buying any stock under 10 days.

    I signed up specifically to buy AIG when at .33 and CITI at just over $1. They both 3 to 4 times that amount already in my 7 to 10 day period. Just beware.
     
  12. capitalcityguy

    capitalcityguy Well-Known Member

    Jun 14, 2007
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    Scottrade. I've been very happy with them for a couple years and if you work downtown, they have an office on the skywalk of 801 Grand so that can come in handly if you need to speak to someone face-to-face.
     
  13. isunorth

    isunorth Well-Known Member

    Mar 3, 2009
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    I've only used e-trade and my only complaint is how long it takes to transfer money into the account. I understand that at first they have to set up a transfer and verify your account, but it's silly that with today's technology it takes 4 business days to transfer funds from a bank account to a brokerage account.

    I suppose I could just park my money in the e-trade account so it's there if I want it. Not like I'm earning a ton of interest with the bank.
     
  14. whirlybirds

    whirlybirds Well-Known Member

    Oct 25, 2007
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    i heard this man knows whats going on with the stocks.......

    [​IMG]

    dont know if i could ever take stock advice from a man giving me the "devil horns"
     
  15. Cyclonesrule91

    Cyclonesrule91 Well-Known Member

    Apr 10, 2006
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    I see some comments above about some of the services providing tools such as tracking mock paper trades so you can check it out before you invest. With any of these services can you do that free of charge until you want to start trading for real? That would definitely get me more comfortable in doing it for real.
     
  16. Cyclonepride

    Cyclonepride Thought Police
    Staff Member

    I've had a good experience with Scottrade.

    As far as advice, I would spend a while just learning what each of the stats mean for companies, and following companies that interest you personally. Many traders believe that you should invest in things that you are familiar with and understand in some way.

    Also, if you hear big news about a company in the mainstream news, you've probably already missed the boat. I jumped on a couple of things and was surprised to find that they went down on good news, mainly because they had already gone up on the anticipation of good news. I've spent the better part of two years following a group of stocks, and am just now starting to feel comfortable that I can spot a good value when I see one.
     
  17. isufan

    isufan Well-Known Member

    Feb 23, 2009
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    I'm looking to get into some online investing.

    What companies do some of you use now?

    I had someone I trust tell me to use Charles Schwab because they are one of the healthiest companies that you shouldn't have to worry about going broke.
     
  18. dmclone

    dmclone Well-Known Member

    Oct 20, 2006
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    TD Ameritrade
     

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