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Buying stock question

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garrett202020
11/5/05 11:27 AM
My girlfriend and I want to try our hand at buying and selling stocks. Neither of us know much about it. I am guessing the easiest thing for us will be to sign up for an online trading site, like ameritrade or similar, and buy on there. Right now we just want to buy like 50-100 dollars in stock to play around with. Any suggestions for sites? Looking for easy to use, and lowest fees.<br><br>Also, saw that $50 book deal in this thread, anyone who has looked at the books avalible see a good one for beginners?<br><br><br>Thanks<br>Garrett
WikiPost
11/5/05 11:27 AM
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OFFBEAT
11/5/05 1:17 PM
Search the forums before posting. There's a ton of threads on this topic.<br><br>Most brokage firms usually require a minimum investment of at least $3,000 to open an account.
WhiteGuy
11/5/05 1:26 PM
scottrade is $500 min. <br><br>one of the lowest I have seen
Spugbug
11/5/05 1:35 PM
Try Sharebuilder.<br>$50 bonus after your first trade (plus 4-6 weeks).<br>No minimum.<br><br><a target="_new" href="http://www.fatwallet.com/redirect/bounce.php?http://www.sharebuilder.com/about_us/jump/iplangift/">This will take you to their sign-up page!</a><br><br>$4/trade and $15 or so to sell again.<br>Buy an ETF or use their education system.<br>Each different stock you buy will cost you to sell, so an ETF is better until you know what you're doing.
ellory
11/5/05 1:48 PM
garrett202020 said: <blockquote><hr>My girlfriend and I want to try our hand at buying and selling stocks. Neither of us know much about it.<br><hr></blockquote>Don't! Read first <blockquote><hr>Right now we just want to buy like 50-100 dollars in stock to play around with. <br><hr></blockquote>Commisions will eat you alive. Consider reading. Then consider mutual funds.<br><br>Then consider the FAQ
WhiteGuy
11/5/05 1:53 PM
You will get a few shares with the amount you are wanting to invest with 1 company. Stick that in a mutual fund as someone else stated. Best method by far. If you insist on stocks then I would have to agree for the amount you are wanting to invest then sharebuilder it is.<br><br>You have to make $19 to break even with sharebuilder. At $100 that is a 19% return just to break even<br><br>
a529612
11/5/05 2:04 PM
Start with ETFs if you want to trade.
DPG
11/5/05 2:18 PM
You should try ex24.com.
tazzy531
11/5/05 2:26 PM
Start learning at <a target="_new" href="http://www.fatwallet.com/redirect/bounce.php?http://www.investopedia.com">Investopedia</a>.<br>But with $50-100, you're going to have a problem diversifying. Even if you do diversify, you'll get all your profits eaten up by commission and taxes. I'd recommend starting with at least $1000. [But that's quite an arbitrary number depending on what you buy]<br><br>I've read an article somewhere a long time back about how your cost of transaction [roundtrip] should not be more than 5% of the stock or some number like that. Basically, you're commission cost is going to be around $12/transaction. So for a roundtrip (buy/sell), it'll cost your $24. With $100, you're stock is going to have to increase 25% before you make a profit. That is a rather difficult rise in a stock. Other things that I've read is that don't buy unless you can afford at least 100 shares. But that advice may be based on older transaction costs.<br><br>My recommendation, from when I started, is take one industry that you know something about and track the stocks in that industry. You'll get a sense of the trends and companies in that industry. Once you do that, you'll know enough to dive in. You'll definitely make mistakes in the beginning, but the amount you learn will pay dividends later on.<br><br>Also, here are some blogs that I read:<br><a target="_new" href="http://www.fatwallet.com/redirect/bounce.php?http://tradermike.net/">Trader Mike</a><br><a target="_new" href="http://www.fatwallet.com/redirect/bounce.php?http://thedividendguy.blogspot.com/">Dividend Guy</a><br><a target="_new" href="http://www.fatwallet.com/redirect/bounce.php?http://www.tinyfish.net/">Tiny Fish</a><br><a target="_new" href="http://www.fatwallet.com/redirect/bounce.php?http://techtrader.blogspot.com/<br>">Tech Trader</a><a target="_new" href="http://www.fatwallet.com/redirect/bounce.php?http://www.galatime.com/">Gala Times</a><br>
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