Jet Moses Posted January 6, 2009 Share Posted January 6, 2009 I'm thinking about starting up an account with ING: https://www.sharebuilder.com/sharebuilder/Setup/Default.aspx Link to comment Share on other sites More sharing options...
joewilly Posted January 6, 2009 Share Posted January 6, 2009 yeah i've been doin it for many years via td waterhouse Link to comment Share on other sites More sharing options...
Jet Moses Posted January 6, 2009 Author Share Posted January 6, 2009 yeah i've been doin it for many years via td waterhouse Cool. It there any difference between etrade, td waterhouse, ING et al? Which one is the best? Link to comment Share on other sites More sharing options...
joewilly Posted January 6, 2009 Share Posted January 6, 2009 Cool. It there any difference between etrade, td waterhouse, ING et al? Which one is the best? it's like asking if colgate is better than crest imo. you're doing it to save $$$ so go with the one offering the cheapest trades but is still deemed credible in that they won't go bankrupt. i hardly trade these days but do still invest in the ira. if nothing else, that has served me very well thus far. i took a bunch of profit out 1 year during the internet bubble & got whacked with taxes so now i pretty much slide cash into the roth ira every january. have fun with it Link to comment Share on other sites More sharing options...
Jet Moses Posted January 6, 2009 Author Share Posted January 6, 2009 it's like asking if colgate is better than crest imo. you're doing it to save $$$ so go with the one offering the cheapest trades but is still deemed credible in that they won't go bankrupt. i hardly trade these days but do still invest in the ira. if nothing else, that has served me very well thus far. i took a bunch of profit out 1 year during the internet bubble & got whacked with taxes so now i pretty much slide cash into the roth ira every january. have fun with it Yeah, I hear ya. I think I'll go with ING. I was doing the preliminary starter thingy and it asked for my SS #. I'm kinda nervous about putting that online. Link to comment Share on other sites More sharing options...
faba Posted January 6, 2009 Share Posted January 6, 2009 Yeah, I hear ya. I think I'll go with ING. I was doing the preliminary starter thingy and it asked for my SS #. I'm kinda nervous about putting that online. You can give it to me and I will do it for you Jet Mo. Link to comment Share on other sites More sharing options...
joewilly Posted January 6, 2009 Share Posted January 6, 2009 Yeah, I hear ya. I think I'll go with ING. I was doing the preliminary starter thingy and it asked for my SS #. I'm kinda nervous about putting that online. I wouldn't worry so much about that moses. I would think pretty hard about why before doing it though. I did it mainly for the tax free contributions to a roth ira. I also was paying outrageous fees for buying & selling stocks with a cayman broker. i felt I had extra cash and some free time and I was tracking a bunch of stocks anyway. I genuinely had fun doing it I must say but I lost quite a bit of money when the bubble burst. As an example I was up over a half million dollars in aol at one time (on paper of course)& poof....... I actually lost 50,000 of my hard earned money. I must say the thrill of the chase was exhilerating and I did well in other areas but be prepared to say goodbye to a good portion of your so called investment. honestly if you wanna profit on your investment buy a stock like at&t or heinz ketchup & hold it for the long term or maybe a mutual fund. to think you can profit by constantly buying & selling is unrealistic imo. like goin to vegas, no one wants to talk about their losses, only how much they won. I bet there are many here who traded online & lost......few if any who traded online 7 won. again fear,hope & greed will most likely get the best of you moses so good luck & do so without my reccomendation. your pal, joe the downer Link to comment Share on other sites More sharing options...
SouthernJet Posted January 6, 2009 Share Posted January 6, 2009 JGBs could tell you a story Link to comment Share on other sites More sharing options...
Jet Moses Posted January 6, 2009 Author Share Posted January 6, 2009 You can give it to me and I will do it for you Jet Mo. You work for ING? I wouldn't worry so much about that moses. I would think pretty hard about why before doing it though. I did it mainly for the tax free contributions to a roth ira. I also was paying outrageous fees for buying & selling stocks with a cayman broker. i felt I had extra cash and some free time and I was tracking a bunch of stocks anyway. I genuinely had fun doing it I must say but I lost quite a bit of money when the bubble burst. As an example I was up over a half million dollars in aol at one time (on paper of course)& poof....... I actually lost 50,000 of my hard earned money. I must say the thrill of the chase was exhilerating and I did well in other areas but be prepared to say goodbye to a good portion of your so called investment. honestly if you wanna profit on your investment buy a stock like at&t or heinz ketchup & hold it for the long term or maybe a mutual fund. to think you can profit by constantly buying & selling is unrealistic imo. like goin to vegas, no one wants to talk about their losses, only how much they won. I bet there are many here who traded online & lost......few if any who traded online 7 won. again fear,hope & greed will most likely get the best of you moses so good luck & do so without my reccomendation. your pal, joe the downer Believe me, I'm not investing a kings ransom, maybe a thousand bucks just to have some fun and see if I can double it. If I hit 5K, I'll put it into a mutual fund for the long term. I'm going with the Roth IRA as well as all the money I have to invest is after tax dollars. Link to comment Share on other sites More sharing options...
Jet Moses Posted January 6, 2009 Author Share Posted January 6, 2009 JGBs could tell you a story How much did he lose? Link to comment Share on other sites More sharing options...
SouthernJet Posted January 6, 2009 Share Posted January 6, 2009 How much did he lose? haha,,opposite,,, but what a story Link to comment Share on other sites More sharing options...
joewilly Posted January 6, 2009 Share Posted January 6, 2009 You work for ING? Believe me, I'm not investing a kings ransom, maybe a thousand bucks just to have some fun and see if I can double it. If I hit 5K, I'll put it into a mutual fund for the long term. I'm going with the Roth IRA as well as all the money I have to invest is after tax dollars. well sure,knock yourself out. it's a lot of fun actually. those are good goals. set a limit & throw it into ira and or long term when you reach the limit. I have no regrets about gettin in at all & in the long run it has served me well. my only regret was actually takin a bunch of actual cash out & givin the lions share to uncle sam Link to comment Share on other sites More sharing options...
joebabyny Posted January 6, 2009 Share Posted January 6, 2009 I'm thinking about starting up an account with ING: https://www.sharebuilder.com/sharebuilder/Setup/Default.aspx i liked schwab and etrade. If you are thinking of being very active or daytrading check out scotttrade Link to comment Share on other sites More sharing options...
Thai Jet Posted January 7, 2009 Share Posted January 7, 2009 You can give it to me and I will do it for you Jet Mo. Link to comment Share on other sites More sharing options...
serphnx Posted January 7, 2009 Share Posted January 7, 2009 I wouldn't worry so much about that moses. I would think pretty hard about why before doing it though. I did it mainly for the tax free contributions to a roth ira. I also was paying outrageous fees for buying & selling stocks with a cayman broker. i felt I had extra cash and some free time and I was tracking a bunch of stocks anyway. I genuinely had fun doing it I must say but I lost quite a bit of money when the bubble burst. As an example I was up over a half million dollars in aol at one time (on paper of course)& poof....... I actually lost 50,000 of my hard earned money. I must say the thrill of the chase was exhilerating and I did well in other areas but be prepared to say goodbye to a good portion of your so called investment. honestly if you wanna profit on your investment buy a stock like at&t or heinz ketchup & hold it for the long term or maybe a mutual fund. to think you can profit by constantly buying & selling is unrealistic imo. like goin to vegas, no one wants to talk about their losses, only how much they won. I bet there are many here who traded online & lost......few if any who traded online 7 won. again fear,hope & greed will most likely get the best of you moses so good luck & do so without my reccomendation. your pal, joe the downer Well right now is a really bad time, but you can definitely make money day trading. You have to study up on it though, treat it like a really serious job, and have a lot of patience and think quickly. When you're day trading you're basically going off margins, just fluctuations that occur. It's almost exactly like poker where you're getting a ton of losses which if you're good you minimize as much as possible, and then some big gainers which you try to maximize and which is where you make all your money. There are some great books out there, I mostly trust John Carter, anything by Buffet, and a couple of others. There's a guy they both swear by but he's old as dirt and I think already dead, so I just ignore him, but you could look him up too, I forget his name. I'm relatively young so I can make that gamble for the high gains, if it doesn't work then I can just earn it back. But if you're older, i agree to go a much safer route. Also, the taxes are much lower if you hold onto stocks longer. If you hold onto it a bit over a year it is considered a capital gain (or if you lose money, a capital loss, which you can then use strategically to kill your tax liability and get more money to use if you're trying to invest it in something you think will blow up soon) which has a much lower tax rate. If you're day trading you're shooting for around 2.5% return a day on whatever you're doing, and the numbers don't really work out too great until you're using about $25k at least, which is kind of a lot to put in if you aren't confident and it's your money. I would never turn over that much to somebody else though, because you should be able to figure things out better than some punk out of college that they're giving your money to to manage. There are some simulation sites to use after you've read enough, and then I suggest working up slowly. I'd say start with swing trading, day trading is something you want to really be on the ball for. To put it in Jets terms, don't try to be a BB when you're Eric Mangini. Swing trading is a bit easier. I guess it's all kinda lucky though. My uncle tells me some of my strategy is "Vegas, be careful with it." He doesn't believe in shorting, whereas I think that's one of the best ways to get money out of the market. There's not much action right now though, and I've been concentrating on other things anyway. I don't think this is a good career option, you're far better off finding something more stable that can also impact people positively. Or at least, that's my goal in life. I wonder if anyone on JN is a lobbyist or knows anybody that is, that's kind of a dream of mine, especially with the state things are right now in the US and even around the world. Link to comment Share on other sites More sharing options...
Jet Moses Posted January 7, 2009 Author Share Posted January 7, 2009 i liked schwab and etrade. If you are thinking of being very active or daytrading check out scotttrade I'll give scottrade a look, thanks for the head up. I'm relatively young so I can make that gamble for the high gains, if it doesn't work then I can just earn it back. But if you're older, i agree to go a much safer route. Also, the taxes are much lower if you hold onto stocks longer. If you hold onto it a bit over a year it is considered a capital gain (or if you lose money, a capital loss, which you can then use strategically to kill your tax liability and get more money to use if you're trying to invest it in something you think will blow up soon) which has a much lower tax rate. Right. Like Springtime for Hitler! Anyway, now is a good time to grab a stock trading at 2 dollars a share and hope it goes up to 4 dollars a share. Transportation companies right now are a good gamble; they took a beating because of the fuel costs but now the fuel price is going down--- notwithstanding the current events in gaza. If I could turn a thousand bucks into five thousand by the end of 2009, and then dump it in an aggressive mutual fund for the long term (the recent market collapse showed me that conservative investors were just as *****ed as the moderates and aggressive, so if you are going to have stock in your portfolio, might as well reap the biggest reward because the risk is about the same) I'll be happy. I'm just looking to have a litte fun, and nows a great time to get into the market and have some fun. Link to comment Share on other sites More sharing options...
Bugg Posted January 7, 2009 Share Posted January 7, 2009 I use TD Ameritrade , though I haven't looked lately out of fear.TD seems to have bought Commerce Bank, so they might give you some deal if you move your bank accounts to them too. And I want that Scottrade a-hole to crash his helicopter. Hey douche,stop wasting brokerage fees on aviation fuel. Link to comment Share on other sites More sharing options...
Jet Moses Posted January 7, 2009 Author Share Posted January 7, 2009 I use TD Ameritrade , though I haven't looked lately out of fear.TD seems to have bought Commerce Bank, so they might give you some deal if you move your bank accounts to them too. And I want that Scottrade a-hole to crash his helicopter. Hey douche,stop wasting brokerage fees on aviation fuel. Bugg, here's a trucking co. I think is going to have a good 2009: http://finance.yahoo.com/q?s=HTLD&d=t YRCW on the other hand, has pending results from todays Teamster vote to take a 10% pay decrease. If you think they did the prudent thing, then YRCW would be a good stock to grab at the opening bell. But if you think they cut their noses off to spite their faces, then avoid YRCW like the plague. Link to comment Share on other sites More sharing options...
Green DNA Posted January 7, 2009 Share Posted January 7, 2009 I have an E-Trade account. Got clobbered in the tech crash a few years back and laid low until I picked up a couple of "bargains" during the fiscal crisis. I lost money on those too. Be careful would be the only advice I would give and don't look for the big score or you will get burned. Link to comment Share on other sites More sharing options...
Jet Moses Posted January 8, 2009 Author Share Posted January 8, 2009 http://www.glgroup.com/News/Will-YRC-Make-It--Heres-One-Vote-That-Says--Yes.--30905.html Link to comment Share on other sites More sharing options...
ChadLover Posted January 8, 2009 Share Posted January 8, 2009 ING Sharebuilder is for investing, not trading. If you want to buy and sell with any frequency you will need something like E*Trade, Ameritrade etc. Link to comment Share on other sites More sharing options...
Jet Moses Posted January 9, 2009 Author Share Posted January 9, 2009 ING Sharebuilder is for investing, not trading. If you want to buy and sell with any frequency you will need something like E*Trade, Ameritrade etc. Thanks! Link to comment Share on other sites More sharing options...
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