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Help with "play money" investments
07-29-2010, 06:31 AM
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#1
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Recycles dryer sheets
Join Date: Jun 2005
Posts: 103
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Help with "play money" investments
I have about 2000 of "play money" that I want to invest in some individual stocks. I already have a vanguard IRA account. Could I open a seperate vanguard account and trade stocks with vanguard or are there good reasons to open that "play" account somewhere else like a Scottrade or the like? For instance is vanguard slow to execute or anything like that?
any advice would be great, Thanks
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07-29-2010, 06:40 AM
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#2
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Recycles dryer sheets
Join Date: Sep 2007
Location: Chicago
Posts: 221
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one used to be able to get some account opening bonuses for opening trading accounts. Sharebuilder was the one I use/used, now owner by ING. Look for a coupon to open it for a bonus. With 2000, good short term return. Also, sharebuilder has a once-per-week investment option for $4 that should help reduce your trading fees. If you're trading for learning and quickly, don't be astonished if you lose a good deal of money. School costs.
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07-29-2010, 06:55 AM
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#3
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Recycles dryer sheets
Join Date: Jun 2005
Posts: 103
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[QUOTE=seabourne;962645] sharebuilder has a once-per-week investment option for $4 that should help reduce your trading fees. QUOTE]
Would you please explain that a little more? is that like a 4$ per week credit toward your trading fees?
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07-29-2010, 10:33 AM
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#5
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Thinks s/he gets paid by the post
Join Date: Jun 2010
Posts: 2,301
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You can open up a brokerage account at vanguard. Although they recently reduced trading costs (i think mine went from $20 to $7 -- depends on the amount of assets you have in vanguard funds/etfs), they are still high unless you only trade infrequently.
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07-29-2010, 10:38 AM
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#6
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Aug 2006
Posts: 12,483
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$2000 isn't enough money to get any leverage, but I suppose VG or Fido or Schwab or even Amertrade would work...........
__________________
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)
This Thread is USELESS without pics.........:)
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07-29-2010, 12:45 PM
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#7
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Recycles dryer sheets
Join Date: Sep 2008
Posts: 60
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If you plan to trade often...
With $2,000, you really have to watch commission charges. Just the fees to get into and out of a position will eat up most of your gains.
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