i don't mean anything illegal. you see i just turned 18 and i want to trade with the money i saved by jobs i did in the past year. i've studying stocks for more than a year now. but i don't want my parents to find out or else they might get worried or angry and may not let me trade. my question basically is when i trade online, will i be getting anything in the mail or any phone calls. i want to keep this between me.
thank you.
2007-10-07 07:16:31 · 10 answers · asked by Anonymous in Business & Finance ➔ Investing
so you guys are all saying that if i use a PO box and a different phone from my parents, i shouldn't have a problem?
2007-10-08 04:47:24 · update #1
at the very least you may start getting solicitations and the prospecti of the the funds or stocks you purchase.
Why not get a PO Box for your private mail?
2007-10-07 07:24:53 · answer #1 · answered by jsied96 5 · 1⤊ 1⤋
If you use etrade, for example, you can have most statements sent to your email. However, I believe all brokerages will send you an initial welcome package (that you will likely have to sign and return).
If you want, you can get a P.O. box for a few dollars a month. I think the UPS store also has boxes for around 10 dollars per month. Then you can just have stuff delivered there without anybody else knowing about it.
Keep in mind that "trading stocks" is a difficult way to make money. Most people, 90% or more, lose money trading. The entire industry is DESIGNED to take money from you.
2007-10-07 14:24:56 · answer #2 · answered by answerman 2 · 1⤊ 0⤋
Very good to hear that you are thinking about finances at such an young age and already having savings too to start trading stocks. Why dont you get the confidence of your parents to start with?? am sure that if you sit down and have a good chat with them, they will surely give you a helping hand and maybe advise if necessary.
Good Luck with your investing.
2007-10-07 17:43:12 · answer #3 · answered by Sreenu 4 · 0⤊ 0⤋
I totally disagree with the statement saying most investors lose. I have been doing it for over forty years and have made a fortune. Your parents should be proud that you have an interest in the market. Buy quality stocks, put them in a IRA, do that every year, and you can get very wealthy.
2007-10-07 14:35:43 · answer #4 · answered by William C 7 · 0⤊ 0⤋
Anything u do on the inet can be seen by anyone. Any activity you do on your computer, your parents can track it, depending on how computer-literate they are. And if you're dealing with stocks, you're dealing with a stockbroker who's going to need your name, address, email address etc. An important aspect of stocks is you have to invest AND sell your share at the right time before losing most of your money. Make sure you do full research on which company to invest in first. Good luck!
2007-10-07 14:30:38 · answer #5 · answered by gem 3 · 0⤊ 1⤋
If you have a broker account, you'd probably get statements and confirmations in the mail. You might be able to request that these come to you online instead of on paper.
2007-10-07 14:30:12 · answer #6 · answered by Judy 7 · 0⤊ 0⤋
No you will conduct all transactions on line. be sure to select on line notifications and 1099 reports.
As other posters have noted, a PO box only cost about 25 dollars a year.
2007-10-07 14:25:01 · answer #7 · answered by Jan Luv 7 · 0⤊ 0⤋
Most on line brokers provide every thing via electronic download. As long as you log in and access your statements, you shouldn't get anything by mail. But you should confirm with the broker you decide on using.
2007-10-07 14:27:45 · answer #8 · answered by Mystery 6 · 0⤊ 0⤋
You will, at minimum, get tax forms sent to the postal address you register with your account. So you'll have to have a PO box.
2007-10-07 16:05:22 · answer #9 · answered by cosmo 7 · 0⤊ 0⤋
I would suggest that you use a telephone number and address other than those for where your parents are.
2007-10-07 15:25:57 · answer #10 · answered by StephenWeinstein 7 · 0⤊ 0⤋