Online Brokerage Account

[barnidge]

I am 20 and am interested in investing $2500-4000 in an online brokerage account and was wanting some feedback from those of you who have done this. What company is best? Do you do market or limit order trades? Any advice would be helpful.

 

[SofaGeorge]

Find a company that gives you a minimum of 5000 shares for a flat rate trade. Never trade on margin or options if you are a beginner. And learn to only place limit orders. (I once lost $20,000 on a single trade by placing it as a market order. The MM's walked it down very fast.)

Don't listen to anyone who recommends a company. Learn to do your own research.

Sell when you reach a profit goal. It is okay to date a stock and not marry it... but the people who practice "Buy and Hold" are usually the ones who make money in the long run.

All day traders are idiots.

Get the book HOW TO MAKE MONEY IN THE STOCK MARKET by O'niel and read it cover to cover before you place an order.

 

[VicTusDeuS]

Make sure you dont need that money. The market fluxuates alot and it may drop after you buy it so get whatever you want and hold it for the long run.

 

[VicTusDeuS]

look into getting some lucent. Its at its all time lows now. I might drop some more but holding it for the long run could give you 100%++ profits.

 

[mrbill]

any of the major online companies are fine, Ameritrade, Datek, Etrade, etc. Just look for the best prices for trades. SofaGeorge had a lot of advice you should listen to, the only thing I will add is to sit down and think about your objectives carefully, that should help you with the types of investments you will want to make. Good luck.

 

[mrbill]

look into getting some lucent. Its at its all time lows now. I might drop some more but holding it for the long run could give you 100%++ profits.

Vic...just wondering why you think Lucent is going to turn around? I don't follow it closely, but from what I have heard they are "in trouble". Have you seen some info that looks positive on them? ...just curious

 

[barnidge]

Thanks guys.

SOfa George: Bill O'Neil is great. I read IBD all the time. Do you have any current favorites?
Any to hold for the long term(20+ years)

 

[SofaGeorge]

Thanks guys.

SOfa George: Bill O'Neil is great. I read IBD all the time. Do you have any current favorites?
Any to hold for the long term(20+ years)

Yes... but only because I am an insider under non-disclosure with several companies... so I can't share the advice.

 

[barnidge]

You could PM me....j/k. Thanks for the help

 

[georgie24]

sorry for being off topic

barnige

did you get my pm??