Online stock trading

Discussion in 'Community' started by krohde, Dec 24, 2002.

  1. krohde macrumors member

    Joined:
    May 29, 2002
    Location:
    Europe, UK
    #1
    Hey,

    ive been saving up some money for some time, and now that the market is at a pretty low point :confused: (and possible war with iraq could drive prices higher by the end of 2003) i was thinking about investing in some stocks. the only problem being that im having a hard time finding a good online broker. do any of you guys know a good place for making some good deals? im not going to be trading a lot (3x/year) so i would prefer low, or zero monthly fees.

    Ok thanks a lot guys.

    P.S.: To those of you who helped catch the criminal that had been doing quite a lot of credit fraud, i just wanna say "Good job, you guys deserve a lot of respect!"
     
  2. jefhatfield Retired

    jefhatfield

    Joined:
    Jul 9, 2000
    #2
    realize that stocks are gambling

    my reduced two cents
     
  3. springscansing macrumors 6502a

    springscansing

    Joined:
    Oct 13, 2002
    Location:
    New York
    #3
    Stocks are educated gambling.
     
  4. jefhatfield Retired

    jefhatfield

    Joined:
    Jul 9, 2000
    #4
    none of my mba cohorts will even go there

    the more you know about financial trading, the less you realize you know

    federal funds rate

    federal reserve

    defecit spending

    stock splits

    false accounting practices but still within GAAP

    dow vs nasdaq

    futures
     
  5. MacBandit macrumors 604

    MacBandit

    Joined:
    Aug 9, 2002
    Location:
    Springfield, OR (Home of the Simpsons)
    #5
    It's also a good way to show support for a company you like. That's the only reason I would by stock at the moment and it would be stoock in Apple.

    I wish I had money before Yahoo and Excite and all the others had made it big. I knew about them before they went public and could have gotten in on the ground floor. With my outlook I take on things I would have gotten out the moment everything went up %800 overnight. I don't try to make that extra penny in things I prefer to play it safe especially knowing that what goes up must come..........
     
  6. Chad4Mac macrumors 6502

    Joined:
    Apr 20, 2002
    Location:
    Los Angeles
    #6
    Re: Online stock trading

    Anyway...

    To actually answer your question...

    You might want to look at etrade.com. They have a ten dollar buy/sell policy (last time I checked).

    You also might want to check out Charles Schwab, only because you won't be actively trading. They can give you real time advice though person to person contact, advise you when to sell, things like that. There is a premium, but it might be worth it for you.

    You also might want to take note in the currency exchange policies of these trading companies. You are stationed in Europe, right? If I am correct, you will be purchasing stock in USD, which is at a lose considering the Euro strength against the dollar at the moment. Anyway, it will be something to look into. If anything, the only hassle will be the conversions...

    Let me know if I can be of further assistance...

    Chad4Mac
     
  7. jefhatfield Retired

    jefhatfield

    Joined:
    Jul 9, 2000
    #7
    oooh aaah ;)

    where do i start

    well, don't buy based on sentimentality

    if you want to support a company, buy its products

    if i had tossed all my money into apple at its height when i felt warm and fuzzy about them, and with cisco when i thought the internet revolution and e-commerce was here to stay and revolutionize the way we shop and render shopping malls obsolete, and both stocks were trading over 100 then, i would be walking now and not have any cars or house

    the height of online shopping was so big that they halted some of the construction on the big stores in the mall...the construction workers were so distraught, they were picking fights with shoppers in the mall and destroying property

    when the dot.com thing fell, the stores went back into construction, the the construction workers were happy again...thank god, i was able to again park my car in that part of the mall:p
     
  8. MacBandit macrumors 604

    MacBandit

    Joined:
    Aug 9, 2002
    Location:
    Springfield, OR (Home of the Simpsons)
    #8
    I'm not suggesting throwing all your money into Apple though I would like to buy a couple hundred dollars worth.
     
  9. jefhatfield Retired

    jefhatfield

    Joined:
    Jul 9, 2000
    #9
    oh, then you won't miss it ;)

    during dot.com, there was a retired woman's stock trading group, like the ones all over the country, and they were liquidating everything they had saved up all their lives to realize weekly and even daily gains

    i warned them but they told me i was a stupid college boy (i was still half their age in my early 30s) who had no real world experience compared to them and that all previous theories and laws of economics did not apply anymore

    we were, you know, in the information age

    in their thinking, 1+1=3:p
     
  10. jefhatfield Retired

    jefhatfield

    Joined:
    Jul 9, 2000
    #10
    many of them predated the beatles thing and they should have listened to john lennon in "come together" for a real good lesson in finance

    "one and one and one is three"

    :D
     
  11. zarathustra macrumors 6502a

    zarathustra

    Joined:
    Jul 16, 2002
    Location:
    Philadelphia, PA
    #11
    You should go with "reputable" companies, like someone else said. Etrade, Schwaab, a couple of others. There are a lot of bargain trading companies out there, who won't necessarily cheat you, but they can't match the background info and support of bigger, older companies. Plus it seems you are in Europe, and Etrade and Schwaab have country specific trading services you might benefit from.

    My experience is Etrade, and everything has been great, except for a couple of stock just sinking like a rock. But, hey that's my stupidity!
     
  12. jefhatfield Retired

    jefhatfield

    Joined:
    Jul 9, 2000
    #12
    maybe your loss was not your fault

    the market is a gamble and in the last few years, i have heard of more of my friends losing

    when the california lottery came out, most people lost, but the persistent ones either broke even or won out

    at the local drug store where i live, the two managers play it all the time and they have come out tens of thousands on top and the funny thing is that over the last three years, they did better than anybody i know who dealt with high tech stocks...he he

    my aunt lives in las vegas and i got to see some professional gamblers who always make a profit in their endeavor, but like stocks and gambling, most people lose out...even if it's a small amount

    but all those everyday people who lose ten dollars on slots at las vegas or those who lose a small amount day trading every time they trade, amounts to a huge amount of money nationally every year

    the winners in the lottery, lotto, gaming tables, stocks, and bonds do their research
     
  13. Chad4Mac macrumors 6502

    Joined:
    Apr 20, 2002
    Location:
    Los Angeles
    #13

    Who's fault would this be, that you would be walking? The Market's? Or would it be your fault? If you made the decision to buy a stock at a inflated price -- at a peak -- why would you balme anyone else?

    Let's not forget the construction going around the rest of the country, during the boom, and the other people who lost thier .com jobs.

    Chad4Mac
     
  14. jefhatfield Retired

    jefhatfield

    Joined:
    Jul 9, 2000
    #14
    it would be my fault, but here in silicon valley, there was this false sense of invicibility

    and larry flynt and bob gucionne and their other side, business magazines, were building the high tech sector up like some cheap 50 cent tabloid, and people were buying into it big time

    thank god those days are over

    while the mba types were "sometimes" hyping the boom, economists like you were very cautious, and history showed you to be right;)
     
  15. Chad4Mac macrumors 6502

    Joined:
    Apr 20, 2002
    Location:
    Los Angeles
    #15
    I'm glad the "overvaluation" days are over too.

    I feel the biggests problem with laypeople investing in stock is they don't do or don't have the time to do the research on the companies.

    When you buy stock in a company, you are a owner. You have to follow the company everyday. Watch the stock price, recent news, and financial statements.

    Problem is, people don't do it. If they did, they would have made money on the downturn -- selling short!

    CHad4Mac
     
  16. 3777 macrumors 6502

    Joined:
    Jul 25, 2002
    #16
    I've been investing since 1999.......... I have quite a bit in Money market right now, the Market isn't even close to the final bottom I'm sorry to say. I am not buying anything until the Dow is at least 6500, maybe lower.....

    Once everything does crash, two stocks I like are Aria and Gnta, that's what I owned before I transferred to Money Market. :D
     
  17. Chad4Mac macrumors 6502

    Joined:
    Apr 20, 2002
    Location:
    Los Angeles
    #17
    Well, you might be waiting for a long time. The Dow at 6500! Oh dear, and I though the economy was bad right now!

    You could be right. For that matter, anyone could be right.

    I personally think we are at a bottom here and we'll stay fairly close to the bottom for another 3 months before we start seeing better financials for the fiscal fourth quarter.

    Chad4Mac
     
  18. MacBandit macrumors 604

    MacBandit

    Joined:
    Aug 9, 2002
    Location:
    Springfield, OR (Home of the Simpsons)
    #18
    I agree. Though I have no formal education in the market just watching America and business in general I think things have leveled off and will start climbing again soon. People are loosening up on there pocket books and buying again.
     
  19. Nipsy macrumors 65816

    Nipsy

    Joined:
    Jan 19, 2002
    #19
    I've had really good luck with Ameritrade. They're a good place to start without a large chunk of cash.

    If you get really into things, I'd look at datek.

    As for AAPL, learn your fundamentals. AAPL's market cap is only marginally higher than it's cash reserve, and it is trading near a low point. These are both positive signs.

    When you buy AAPL right now, you're buying the company for $2-3, and buying ~$12 of AAPL's cash. If/when AAPL starts hemmoraging cash, there will be some indicators which allow you an exit. You can also put a sell order in for a number equivalent to the current cash/share amount.

    Either way, if you don't understand what you're doing, start small, and be willing to lose big. Furthermore, if you can't afford a margin call, don't open a margin account.

    Take your time, play around, learn the ropes. It is a great time to invest, and you can make some money, but don't expect the meteoric returns of 1990-1999.
     
  20. topicolo macrumors 68000

    topicolo

    Joined:
    Jun 4, 2002
    Location:
    Ottawa, ON
    #20
    On the other hand, Apple has shown very inconsistent revenue and market cap growth in the last 10 years and they have been diluting the stock like crazy by releasing loads and loads of options to their employees.

    I think apple should take some of their capital and buy back some shares and put the money to better use. I mean, they obviously aren't managing their wads of cash well by just letting it sit in short term investments which earn next to nothing.
     

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