I looked at these websites and there is way too much reading materials. One of my friend directed me to etrade but they charge about $8 to $10 per trade, that's instane!!! I want something where I can my stocks when it goes up $2 and I want to sell it when it goes down $2, it is as simple as that. If I am going to pay brokers that much fees then I won't create any profits. Any suggestions?
2007-02-05 03:40:18 · 6 answers · asked by Anonymous in Business & Finance ➔ Investing
8-10 is pretty reasonable. if i bought 300 shares of stp and it went up $2.8 like it did today and then sold i would have made 840-20=$820. (note: i actually did this)
to cover the cost for commissions i would suggest you invest in greater quantities, so the commission seems insignificant.
if youwant to invest with a small amount of money, then i suggest that you don't. i am currently investing with around $50,000.
hope this helps, if you have any questions please feel free to e-mail me at berelane@yahoo.com
2007-02-05 05:11:13 · answer #1 · answered by berelane 2 · 1⤊ 0⤋
The $8-$10 commission is per trade, not per share....if that is too costly for you then it sounds to me that you are starting with an extemely small amount of money and/or you're planning on trading way too often which is a good way to lose money. I wouldn't discourage you from investing in the equity markets but individual stocks are probably not the best vehilcle for you. I would encourage you to consider investing in mutual funds and let the professionals handle the trading decisions...you'll get instant diversification within the parameters of the fund's objectives and receive professional money management. Choose a no load, no transaction fee fund so you don't pay any up front fees or transaction charges to invest....The fees charged will simply be a % of your assets held within the fund (typically 1-1.5%) and not a fixed commission each time the manager trades within the fund.
2007-02-05 12:34:15 · answer #2 · answered by SmittyJ 3 · 0⤊ 1⤋
Welcome to the real world of investing
to make a profit, the stock has to go up enough to pay for the stock, the buying commision, and the selling commission.
that is why it is important to know the stock you are buying.
and understand why it may pay off (not by a tip)
2007-02-05 12:19:27 · answer #3 · answered by bob shark 7 · 0⤊ 1⤋
well you wont find a site that is much cheaper than that. You need to buy at least several hundred dollars of a share to make enough profit to cover the commission costs.
try scottrade.com
2007-02-05 11:56:07 · answer #4 · answered by Anonymous · 0⤊ 1⤋
I recommend Computershare.
http://www.equiserve.com/index.html
2007-02-05 11:46:59 · answer #5 · answered by sammie 4 · 0⤊ 1⤋
well u must not be as smart as u think u are :)
2007-02-05 15:50:04 · answer #6 · answered by mrstula 1 · 0⤊ 1⤋