Wellp im finally gonna try my hand at some stocks. Might as well.

I dont know much except buy low and sell high. I dont plan on doing day trading, and certainly dont plan on doing long term investing yet. Mostly just picking and hunting for hidden gems and holding for a couple months and moving back and fourth.

Anyone do similar? And what online place do you recommend?

Im considering these in this order:

sharebuilder.com
etrade.com
scotttrade.com

Will be a small investment to begin, $1k-10k depending on how i feel at the time.

Any recommendations?

 

short term, play the penny stocks. they move the most percentage wise.
long term, pick up stocks that pay good dividends. it doesn't really matter if their stocks move or not.

 

Yes, don't do it unless it's play money you can truly afford, and are psychologically prepared, to lose! If not, you can still invest in stocks, but do so via a well diversified mutual fund for the long term. Vanguard has done very well by me. And never invest in something you don't understand! That's Warren Buffet, not me. Good luck.

 

Nothin long term, plan to play the penny stocks mostly, dont plan on holding anything now more than a few months. Understood I could lose it all, no huge deal. Nothin ventured nothin gained. Ive had fairly good success in picking some out, making a mental note of the price when i thought id go in, and watching them for a couple weeks, and i seem to have good luck w/ anything from about 25-300% increases. figure its worth throwin some money at and trying.

Any online broker you recommend?

 

I have a Scottrade account. Setup was easy and the online interface is easy.

I think the trades are $7 each if I recall correctly.

So far I lost about half of my $500 on a friend's suggestion

 

I use eTrade. $10K starting account required, but you can do a wire transfer from your bank to eTrade. Shares are held in a street name, and you can sign up for dividend reinvestment if it's offered. Nice online reports and account interface.

 

etrade wants that much?? wow, 10k is too much to committ to upfront, ill have up to 10k available, but dont think i wanna toss it all in right up front LOL.

thanks for the input on the scottrade.. ive heard alot bout those "friends" suggestions . Are those $7 trades real time or are they set days/end of day trades, do you know?

 

$7 per trade is real time i think. i placed an order and it was filled within 1 minute so i guess that is real time? scott minimum is $500 but that is just to open the account, i dont have any money sitting in the actual scott bank account. its all in stocks.

 

I just logged into my bank website to check balances/pay bills, and noticed they offer stock trading now.. banc of america investment services.. same $7 trade as most places..

figure might as well do it keeps the accounts linked and quicker cash movement.. one less number to call for support.