It depends a lot on how you use the account whether it will prove a good mode of saving or not. If you use it in an attempt to make short term trading profits, it may prove to be not a very good way. In fact you may wind up loosing a great deal of money. If however you use it to purchase long term holdings in stocks that have potential to grow then yes indeed it can provided you can manage to survive through the occasional market down turn when you will watch your portfolio loose maybe 1/3 to 1/2 its value.
2006-12-24 12:37:28
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answer #1
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answered by Anonymous
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I once had an account with a dynamite brokerage house called Jack White, in San Diego. They always answered the phone on time, the agents offered useful suggestions, the trades were on time, and they had about 4000 no load mutuals funds.
Then Jack White was bought out by TD Waterhouse. They moved the operation to NYC, half the agents spoke with weird accents, they put me on hold and the trades took forever. So I moved part of my investments (mutual funds) to Schwab and some (exchange traded funds) to Scottrade.
I have never been sorry. Now TD Waterhouse has become TD Ameritrade. I don't know how they are doing since the last merger, but Jack White was great and TD Waterhouse sucked bigtime.
In any event, unless you are a serious expert with stocks, and you have over $4 millionb, do yourself a favor and stick to mutual funds, either No load no 12-b1 funds or ETFs. $10 is not bad for a trade, it's a whole lot better deal than any of Merrill Lynch's customers ever get.
What you should do is invest all you can, every year, as soon as you can, in a Roth IRA.
Read up on mutual funds (Sheldon Jacobs has a great book you can get for cheap at Amazon) and subscribe to a good mkutual fund newsletter. Hulbert will tell you who these are.
Good luck.
2006-12-24 12:35:45
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answer #2
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answered by Richard E 4
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Binary options let users trade in currency pairs and stocks for various predetermined time-periods, minimal of which is 30 seconds. Executing trades is straightforward. The system uses user-friendly interfaces, which even an 8 years old kid, can operate without having to read any instructions. But winning trades is Not easy.
Binary trading is advertised as the only genuine system that lets users earn preposterous amounts of money in ridiculously short period of time. Advertisers try to implicate as if you can make $350 every 60 seconds; if it was true then binary trading would truly be an astonishing business.
However, does it make any sense? Can every trader make tons of money in binary trading? Who is actually paying all the money or the profit to traders?
The first challenge is finding a trustworthy binary broker; secondly, you need to find a binary trading strategy, which you can use to make profits consistently. Without an effective trading strategy, there is no way you can make money in this business.
Learning a profitable trading strategy is possible, You should watch this presentation video https://tr.im/4f450
It's probably the best way to learn how to win with binary option
2015-01-24 10:05:21
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answer #3
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answered by Anonymous
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I do the same thing. The biggest advice I can give you is to fund the Ameritrade account automatically every month. It goes right from you bank account to your Ameritrade account. It's great because you never have the chance to miss the money and it gives you more money to invest every month!!
Stay away from the penny stocks (under $5). But if you see one you like and want to take a chance, only allocate 10% of your funds to them. Here are a few that you may know:
Bally's Fitness (BFT)
Buca Restaurants (BUCA)
Denny's (DENN)
Spanish Broadcasting (SBSA)
Buy high quality companies that are industry leaders. Some that I like right now are:
Carnival Cruise (CCL)
Motorola (MOT)
ExxonMobil (XOM)
China Unicom (CHL)
The Q's and the Diamonds are great, but they won't make you good money. They will just track the Nasdaq or Dow. Too slow for my taste.
Happy Holidays
2006-12-24 10:48:03
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answer #4
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answered by Anonymous
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A brokerage account is not a vehicle for short-term savings (the value of your holdings could drop by as much as 40% in just a few days), but as a long-term vehicle, it's the surest way to make a lot of money. Invest equal dollar amounts on a regular basis, ignore market conditions, and buy quality issues, and you will do very well without doing much work.
Good luck!
2006-12-24 08:46:09
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answer #5
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answered by Anonymous
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its more important what you buy. Nobody gets rich by JUST opening a brokerage account but what you buy IN it. If you want to trade, trade a whole index instead of an individual stock
1. DIA: "diamonds"-tracks the DOW and pays a MONTHLY dividend.
2 SPY :"spiders"- tracks the SP500.
3. QQQQ- tracks the entire Nasdaq100.
Trade the market not just one stock. To that guy who said you can lose 40% in one day he is full of ****. That only happens if you invest in penny stocks, buying call/put options or buying a company in bankruptcy. It is amazing how some people hate the stock market that have to make up stuff just to make themselves and their risk adverse a.s.s.e.s feel better.
Anybody wants to argue e-mail me!!!!!!!!!!!!
2006-12-24 09:39:10
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answer #6
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answered by Anonymous
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I use ingdirect.com It's a greater way to save money. I did what you did and I lost money. I have not used E-trade though. Now I just have a portion of my paycheck go directly to ING and there is no fee to open an account. They make it super easy.
I like it alot.
good luck
2006-12-24 08:51:06
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answer #7
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answered by sno 3
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2017-02-19 20:17:44
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answer #8
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answered by Joeyoj 4
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Yes it is I have one with ETrade for online trading its a good way to save and to move your asset around as well
2006-12-24 08:45:47
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answer #9
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answered by rickkritcher 3
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If you want to make money with binary options then this detailed educational articles and strategy guides. Go here https://tr.im/zKY2x
These will teach you to efficiently trade financial assets and increase your winning probabilities. You can implement these strategies at binary options brokers. The idea is to always choose legit and reputable brokers to avoid being scammed
2016-02-14 02:53:43
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answer #10
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answered by Ilse 3
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