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  1. #1

    Online Stock Trading

    Who do you guys use?

    I am looking to invest some of my hard earned money

    I do not plan on making many transactions, I am a buy and hold kinda guy.

    Ideally I am looking for something with a low minimum ($500 ? ) to start, per trade amount does not really matter since I am not planning on doing a lot of trades.

    I have many offline investments, but I just want to get something going where I do not have to call my broker all the time.

    Thanks,
    Derrick
    ResellerEdge.com - High Quality Reseller/ Multiple Domain Hosting.

  2. #2
    Join Date
    Feb 2004
    Location
    Southern California
    Posts
    749

  3. #3
    Thanks for the info Ken that is just about exactly what I was looking for. I of course have to read more about them but they look like a very good prospect.

    Thanks again

    Derrick
    ResellerEdge.com - High Quality Reseller/ Multiple Domain Hosting.

  4. #4
    I use Scottrade as well and can vouch for them as a wonderfull service..
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  5. #5
    I use ScottTrade as well. Excellent service with very helpful reps.

  6. #6
    Join Date
    Apr 2002
    Location
    Here?
    Posts
    2,560
    I third ScottTrade. Simply excellent!

  7. #7
    Join Date
    Aug 2001
    Posts
    4,028
    Look at all you stock market wh0res hehehe

    So how does all this online stock stuff work anyways?

    Simply punch in a #... then sell when you want?

  8. #8
    Join Date
    Dec 2002
    Location
    Vancouver, Canada
    Posts
    541
    Originally posted by Mekhu
    Look at all you stock market wh0res hehehe

    So how does all this online stock stuff work anyways?

    Simply punch in a #... then sell when you want?
    You just have to find the right company, buy the amount of shares you want, and decide what you are going to bid per share. Before that you have to do a lot of research.

  9. #9
    Join Date
    Feb 2001
    Location
    West Michigan, USA
    Posts
    9,675
    We use Scottrade as well. However, with only a $500 minimum investment...you will be very limited on what they will allow you to do.

    Just curious, do any of you invest $500-ish at Scottrade? If so, are you able to actually make anything on your investments...considering the 3 day rule?

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  10. #10
    Originally posted by AffordableHost
    considering the 3 day rule?
    Grrrrr.. I could be retired living in a condo in the keys right now if it wasn't for that damn 3 day rule.. So recently I only invest 1/2 of my money in the account, which means for less profit, but I can do the the amount of trades i need to stay on top.


    I have however opened a few different $500 (no where near $500 now) accounts for my nieces and nephews, and really don't touch those If you want to make money on the $500 accounts, you just have to let them grow with the slow long term investments, If you try day trading with them, not only do you have to wait for a huge jump if your lucky, but those $7 fees will eat away at $500 very quickly.
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  11. #11
    Join Date
    Apr 2001
    Location
    Scotland
    Posts
    87
    What's the 3 day rule? I can't seem to find it on the website.
    Ionplex.com - high quality web solutions

  12. #12
    Originally posted by zuby84
    What's the 3 day rule? I can't seem to find it on the website.
    It's not particular to scottrade, It applies to ALL trading of stocks on every online trader. I'll give you an example.

    It works sort of similar to credit cards, you can charge something on your card, but it might not show up on your statement for a few days. Well the same thing applies, with stocks it takes a few days to process the transaction, and you cannot buy/sell/buy/sell back and forth because the transactions have not really "cleared" yet, And if you do buy/sell/buy/sell out side of the 3 day grace periods, its considered getting a "Free Ride"
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  13. #13
    Join Date
    Apr 2001
    Location
    Scotland
    Posts
    87
    So online trading is useless for quick trading?

    Why does this happen in online trading and not traditional over the phone trading?
    Ionplex.com - high quality web solutions

  14. #14
    I do not believe in day trading. I believe in buying good quality stocks and riding the ups and downs. If it is a good quality company it will be worth it. I am only going to do the minimum until I find out if scotttrade is really what I want then I will invest more.

    Derrick
    ResellerEdge.com - High Quality Reseller/ Multiple Domain Hosting.

  15. #15
    Join Date
    Dec 2001
    Location
    Detroit, MI
    Posts
    1,067
    Free Rides are pertaining to money not yet in your account. I'm not aware of a 3 day rule for anything other than settlements and margin rules.

    I've used Datek for quite some time, they were recently bought by Ameritrade and everything seems to be pretty much the same. I don't generally trade stocks outside of my IRA, options are a lot more interesting. And I've traded several times my entire balance in the course of a single day, it isn't too uncommon during certain weeks (days leading up to triple witching, etc.)
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  16. #16

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