Online Stock Services

Discussion in 'Community' started by Kwyjibo, Sep 20, 2004.

  1. Kwyjibo macrumors 68040

    Kwyjibo

    Joined:
    Nov 5, 2002
    #1
    Right now I'm looking at online stock brokers. I want to invest some cash and see what I can do with it. I'm looking at the company Scottrade which has an office near me, and they seem pretty good and cheap. I know the other comapnies have more options and stuff but I'm just starting out and want to go sort of basic.

    I do not want this to be a discussion about the inherent risks of the stock market. I also do not want to discuss apple stock.

    Has anyone else used this service, if so how would you describe it?
    Any stocks you would recommend watching? Right now i'm dipping my tow and would love some companies to watch...

    Thanks in advance kwyjibo
     
  2. Vector macrumors 6502a

    Vector

    Joined:
    Feb 13, 2002
    #2
    I have Ameritrade, and before that i used datek (which ameritrade aquired). I have had no trouble using ameritrade and their streamer tool is good if you need to do real-time stuff like me. It has real time charting, quotes, news, level-two quotes, and some other features that all use java scripting to update real-time.

    I am an active options trader, and have been upgraded to ameritrade's apex premium service, but the trading rates are the same. They charge 10.99 per trade whether it is limit or market, and it is a flat price so you dont get charged more for over 1000 shares (or however many). The options trades are 10.99 plus 1.50 per contract, and that is the best that i have found.

    Tell me what kind of investing you are looking to do.
     
  3. scem0 macrumors 604

    scem0

    Joined:
    Jul 16, 2002
    Location:
    back in NYC!
    #3
    I'd also like to look into online stock services.

    What would be a good service for someone who doesn't know the first thing about the stock market?

    Does anybody know something (short) I can read to get a basic overview of the stock market and exactly how it works? Please don't put me to sleep though :).

    scem0
     
  4. Kwyjibo thread starter macrumors 68040

    Kwyjibo

    Joined:
    Nov 5, 2002
    #4
    being a college student, i've got lots of time during the day so I'd be looking for short term opportunities, kind of learning the market a bit. I'm a finance major so I'm just learning more everyday.

    my other question is which services support mac browsers like safari?
     
  5. Vector macrumors 6502a

    Vector

    Joined:
    Feb 13, 2002
    #5
    Ameritrade and its java apps work fine with safari.

    Look around at yahoo's finance education page: http://biz.yahoo.com/edu/.

    Another good site once you learn more is http://www.stockcharts.com. This site has educational information about candlestick charting and chart interpretation.

    Scemo: I would suggest you do alot of reading before you get into the stock market if you plan to use any significant amount of money. There are lots of people who get in knowing nothing and invest in small stocks, but don't know when to get out, or dont do enough research.

    I do not take stock advice from people, because it is an easy way to lose your money. Someone will tell you a stock to buy, and it might go up, but then there willl be a selloff and the inexperienced trader will not get out in time because they want to make a little more profit.

    Kwyjibo: If you are looking for to trade for the short term, you need to trade a volatile stock (or options, but thats another can of worms). So it would be better to trade semiconductor stock (LRCX, AMAT, NVLS, KLAC) and not high-priced, less-volatile stocks (INTC, IBM). So don't go trading a company that has been around for a while or has low volume (under 500,000/day). There is an indicator called beta that measures volatility. Look it up and then run some stock scans (http://screen.finance.yahoo.com/newscreener.html).
     
  6. wdlove macrumors P6

    wdlove

    Joined:
    Oct 20, 2002
    #6
    If I wanted to invest, would prefer going to a full service financial advisor. Preferably one that pay on a fee basis.
     
  7. makisushi macrumors 6502

    Joined:
    Jul 15, 2004
    Location:
    Northern VA
    #7
    I use E-trade. Maybe it isn't the cheapest, but I know it won't be going out ot business anytime soon.

    I used CSB a few years ago, because trades were cheaper. CSB was purchased a couple of times and it made everything very confusing, so I switched.

    Harley Davidson stock has made me some decent coin.
     

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