im tryin to invest in some stocks.. but im not sure what website i should use.. anyone have any input on it?
stocks help!!
- Thread starter cmoore_23
- Start date
I like Scottrade. The trades are cheap, and I like the layout. I've lost my *** doing that, but the website is nice:biggrin:
Unless you are able to create a diversified group of stock purchases of at least 20 companies, you are setting yor self up for some pretty high risk. If you can't get +20 stocks then you should probably got the mutual fund route. Boring, yes...less potential bang, yes..., much less risk/reward, yes...
Depends......isn't that what 401K's are for? I went in with $500 and a "it's better than taking it to Prairie Meadows" attitude. I went for the big bang, and invested in experimental drug companies. Obviously you can tell from my above post that it is high risk/ high reward, but that was my intention going in.
It all Depends on Your Purpose
If you are asking about online brokerage website- I use Schwab & Fidelity. With trades at under $15 with most websites- cost is the least of the issues.
I would visit different websites to see what type of content they provide. Most sites like Schwab & Fidelity provide thousands of no-load mutual funds to choose. They also have stock screeners that you can set criteria and identify potential stocks you would be interested.
My dad got me turned on to Value Line. Their website offers free company analyses on DOW stocks & many libraries will have the printed book of all companies they analyze- well into the thousands.
A poster above mentioned mutual funds to stay diversified- I would also add ETF's (exchange traded funds). The longer I invest the more convinced I am becoming that most managers of actively managed mutual funds are doing no better than index funds. With mutual funds I would definitely check out the fund managers length of service in managing the fund & their recent track record.
What you plan on doing with the money will dictate the types of investment vehicles you choose & the riskiness.
If you are asking about online brokerage website- I use Schwab & Fidelity. With trades at under $15 with most websites- cost is the least of the issues.
I would visit different websites to see what type of content they provide. Most sites like Schwab & Fidelity provide thousands of no-load mutual funds to choose. They also have stock screeners that you can set criteria and identify potential stocks you would be interested.
My dad got me turned on to Value Line. Their website offers free company analyses on DOW stocks & many libraries will have the printed book of all companies they analyze- well into the thousands.
A poster above mentioned mutual funds to stay diversified- I would also add ETF's (exchange traded funds). The longer I invest the more convinced I am becoming that most managers of actively managed mutual funds are doing no better than index funds. With mutual funds I would definitely check out the fund managers length of service in managing the fund & their recent track record.
What you plan on doing with the money will dictate the types of investment vehicles you choose & the riskiness.
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no... its only going to cost about 70bucks for 300 shares..but im looking at about 5 different stocks altogether
Scottrade, Valueline, Ameritrade. Why spend $70 bucks for trade when you can spend $10-15 unless you are trying to buy access to their moribund datatbase of inside info.
AVOID eTRADE - THEY HAVE $$$ PROBLEMS and may go down the tubes.
AVOID eTRADE - THEY HAVE $$$ PROBLEMS and may go down the tubes.
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You're buying stock that is selling for 20 cents/share? Prepare to lose all your money. There is usually a valid reason that stocks trade at levels like that, they are about to go bankrupt or they are scams. But $700 might be a cheap education about that realm. Good luck.
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i use TD Ameritrade with a portion of my 401K and it is easy to use, fairly inexpensive and has research.
Actually, I whole-heartedly disagree. If you are going to get into stocks you need to research a bunch of stocks and pick 5-10 good ones and STAY ON TOP OF THEM. DO HOMEWORK EVERY WEEK.
I do scottrade and it works well. I would get some books and read before you do anything. I would recommend Jim Cramer's books because they are quick and he has some good rules to live by (albeit he can be a bit eccentric). Also, try "The Warren Buffet Way".
With all that said, this is a great time to get into stocks if you have some spare cash. There are some very good stocks out there that would be much better than leaving your money in a savings account and/or CD's.
i think opening a stock trading account with only $250 is a bad idea.
You would be much better off putting it in a savings account. A mutual fund woud be better.
Lets say you opened up an account and spent $7 to buy $243 worth of stock. Then the stock goes up or down and you sell which costs you another $7. At that point you have 5.6% of your original $250 tied up in fees. Unless your stock went up more then 5.6% you have lost money. If your savings account could have gotten 1% you would have needed to make 6.6%. If your mutual fund would have made 5% you would have needed to make 10.6%.
I generally think you should be spending at least $1000 on a trade. More the better. Otherwise the fees take up to much of your gains. If you want to be diversified at all with 5 or 10 stocks you need a minimum of $5k or $10k.
If I only had $250 to invest I would put in a mutual fund and let the professionals handle it.
Or buy 250 lottery tickets.
You would be much better off putting it in a savings account. A mutual fund woud be better.
Lets say you opened up an account and spent $7 to buy $243 worth of stock. Then the stock goes up or down and you sell which costs you another $7. At that point you have 5.6% of your original $250 tied up in fees. Unless your stock went up more then 5.6% you have lost money. If your savings account could have gotten 1% you would have needed to make 6.6%. If your mutual fund would have made 5% you would have needed to make 10.6%.
I generally think you should be spending at least $1000 on a trade. More the better. Otherwise the fees take up to much of your gains. If you want to be diversified at all with 5 or 10 stocks you need a minimum of $5k or $10k.
If I only had $250 to invest I would put in a mutual fund and let the professionals handle it.
Or buy 250 lottery tickets.
This guy is right on the money. On of the rules in Cramers book it to start investing when you have $10k. What I do is put $400 a month into my scottrade account then use that once I have a good 2 or 3 months in there to buy a stock I have been watching for those 3 months. Plus setting a monthly amount keeps me from not investing when the market looks scary (which if you follow Buffett at all, the scary times are the best times to invest).
