Online trading

[oldtrig]

I have never bought stocks. I have a notion all of a sudden in my life that I want to. I was thinking about Ameritrade. Anyone here used this company and their thoughts on them. I only want to buy a few stocks and just see how things go. I believe I can pick as good as a pro at least I have on paper in the last few years. oldtrig

 

[REWahoo]

Have you been checked for dementia symptoms recently?

Seriously, if you've managed to retire and live comfortably without investing in the stock market, why mess with success?

 

[oldtrig]

Have you been checked for dementia symptoms recently ?
I cannot remember
I am still working. I was planning on retiring but I noticed the list on the refrigerator of what all my wife wants me to do and I decided on not retiring
I like to gamble also. I have been pretty good at it for 40 years and thought what the heck, better than going to the track

 

[REWahoo]

I am still working. I was planning on retiring but I noticed the list on the refrigerator of what all my wife wants me to do and I decided on not retiring.

I have nothing but respect for those who provide honest answers to why they don't/won't/can't retire. Fear of being worked to death is a very valid excuse.

 

[oldtrig]

Now, back to trading. What ya think ?? Get in there and go busted or maybe take some $$$ to the track

 

[REWahoo]

I'd go to the track. More fun watching the ponies run - that way you at least get some entertainment as a return on your investment.

 

[youbet]

Now, back to trading. What ya think ?? Get in there and go busted or maybe take some $$$ to the track

Go for it! I love to trade as entertainment. I've never bought a lottery ticket, think the local race tracks are boring and have zero interest in going to Vegas, Reno or the local casinos. But trading equities directly or through options lights my fire.

I use Schwab. Cheap. Nice web site. I'm sure Ameritrade would be as good or better.

Have fun.

 

[brewer12345]

I think its likely to not be a positive NPV experience. If you insist, I use Schwab and like them (they usually can answer my dumb questions). Also have a smaller account with Fido and they are fine, too.

 

[Danny]

TDAmeritrade is ok by me. Been there when it was Waterhouse, some rough patches during the merger with Ameritrade but now is good ..confident enuff now that I'm in the process of consolidating my Fidelity and Scottrade accounts there.

 

[oldtrig]

Thanks, that is what I wanted to hear. I have an online greyhound racing account but I have got bored with that. I have had the account for 7 years and stayed above water but not by much. I used to go to the tracks buy like casinos they are to smoky for me. I think online trading will bring some action once in a while. I am signing up at Schwab as we speak. Thanks, I will give a report on how things go. Oldtrig

 

[NW-Bound]

Way to go, oldtrig

Don't bet all of it on one horse, er, stock though.

 

[Moemg]

I do online trading . I find the thrill is the same as going to a casino but no free drinks . I only do it with money I am prepared to lose . I've used Etrade and Schwab .I hope you do great with it .

 

[oldtrig]

Thanks, money we are prepared to loose should be considered in all trading. It states plain that this money is not FDIC insured. I talked to a friend today that lost $400,000 in the stock market in 08. He was not in a good mood. He said his broker told him to sit tight and not panic. He had money in higher risk funds. He also had $150,000.00 of GM stock. He said he has been buying GM stock since 1970. Who would have ever thought that GM would go down , not me.

He is a lawyer and probably can make it back but it will take some time. These are some really trying times in the US and World today. Many things can make the market swing.

I hope to buy low and sell high. GM ?? sounds good. oldtrig

 

[NW-Bound]

The $400K may not mean much. What is that amount as a percentage of his portfolio?

I "lost" significantly more than that, counting from the top in Oct 07 to March of this year. I have recovered more than half of that "loss". About GM, I never had GM, and never will. There are other stocks more interesting to me.

 

[crazy connie]

I have used both Fidelity and Schwab. Now it is Schwab only for IRA and 401K as well as ROTH and an after tax account. I find it fairly easy and enjoy a bit of trading activity. IRA has never been bigger, 401K is still down a bit, ROTH has tripled in 3 years and the After Tax account is still getting funded.

 

[Moemg]

I hope to buy low and sell high. GM ?? sounds good. oldtrig

That sounds boring ! I thought you wanted the rush of trading ! Find an interesting IPO or a way undervalued stock . Trading GM would be the equivalent or playing Penny stocks.Move over to the roulette tables !

 

[Fantasm]

Schwab is pretty expensive though... they charge around $100 for larger trades.
There are other places that will charge a flat rate of around $10 no matter the size..

 

[youbet]

Schwab is pretty expensive though... they charge around $100 for larger trades.
There are other places that will charge a flat rate of around $10 no matter the size..

Huh? Perhaps you're talking about another Schwab..........

 

[Fantasm]

I'm talking about Charles Schwab?

 

[crazy connie]

I pay $8.95 at Schwab no matter how many shares except when my buddy gives me a block of free trades.

 

[Fantasm]

I just got done doing 6500 shares and was charged $95.xx or a bit more.

-$28,955.45
$95.45

A few smaller transactions I was charged $12.95 --- looks like I need to talk to Schwab and get my account adjusted to the $8.95 trades!
Commission: $12.95 Redemption Fee: 0.00 EXCH PROC Fee: 0.27

 

[youbet]

I pay $8.95 at Schwab no matter how many shares except when my buddy gives me a block of free trades.

Same here. No "frequent trader" or other qualifiers to get that rate either. $8.95 is it regardless of the number of shares.

 

[youbet]

I just got done doing 6500 shares and was charged $95.xx or a bit more.

-$28,955.45
$95.45

A few smaller transactions I was charged $12.95 --- looks like I need to talk to Schwab and get my account adjusted to the $8.95 trades!
Commission: $12.95 Redemption Fee: 0.00 EXCH PROC Fee: 0.27

On line or phone?

 

[Fantasm]

online

 

[Danny]

I pay $8.95 at Schwab no matter how many shares except when my buddy gives me a block of free trades.

That's the rate if one is fortunate enough to have over 1 million in assets there or do more than 120 trades a year. If not its $12.95 for the first 1,000 shares and 1.5 cents for each additional share. Similar at Fidelity. A 5,000 share trade could end up around $75. Unless you threatened to leave and worked a special deal or ?

One of the reasons why I'm bringing everything to Td Ameritrade where its $10 no matter what the size of your endowment, number of in and outs or trade size.
Schwab Commisions
Fidelity Commisions