what trader do you guys recommend. i want to open an account online
Not sure what kind of cash you have, but if you open a 25k bank account with Bank of America, you get 30 free stock trades a month. If that doesn't work for you, Ameritrade Izone is $5 a trade. There are a bunch of others, but those are the two I use.
Not sure what kind of cash you have, but if you open a 25k bank account with Bank of America, you get 30 free stock trades a month. If that doesn't work for you, Ameritrade Izone is $5 a trade. There are a bunch of others, but those are the two I use.
The advice you have gotten above is VERY accurate. Do your homework and do not invest in anything but good quality stocks that have years of past performances you can study. The most important thing in investing is to buy into companies whose management has a proven track record, and invest--don't trade. Over the long haul, if you invest consistently every month and increase the amount of your investments as you are able, when you reach the ripe old age of 65 like I have you will have a nice nest egg to fall back on.
I'm not sure what I am doing is called, or if it has a name. I can't even remember who told me to do things the way I am doing them.
anyway
I break every investment opportunity into catagories... if an investment opportunity comes along that I am not familar with I study it and then catagorize it. I then organize all the catagories in order of importance/risk/reward. and most importantly a dollar value based on % of my total income/assets. kinda like a ladder (no not a cd ladder)
I don't 'skip' steps on my ladder, and I don't go up to the next step unless the step I am on is fully funded.
1. my first step was to be debt free, except for house mortgage and business stuff cuz u can use debt to make money too... but here we are talking about personal funds ...
2. Fully fund retirement accts.
3. 6 months living expenses in MMA or CD
once you get to this point you can start to think about other investments
4. mutual funds
5. stocks
6. so on and so on till you get up to yachts, fine art...yada yada
of course you may have to go back and revamp your list if you have kids, or health problems or if something major happens...
I like it cuz I have had a outline with what to do with my money for basically my whole adult life and havn't had to really wonder if I was doing the right thing or if I was missing something.
anyway
I break every investment opportunity into catagories... if an investment opportunity comes along that I am not familar with I study it and then catagorize it. I then organize all the catagories in order of importance/risk/reward. and most importantly a dollar value based on % of my total income/assets. kinda like a ladder (no not a cd ladder)
I don't 'skip' steps on my ladder, and I don't go up to the next step unless the step I am on is fully funded.
1. my first step was to be debt free, except for house mortgage and business stuff cuz u can use debt to make money too... but here we are talking about personal funds ...
2. Fully fund retirement accts.
3. 6 months living expenses in MMA or CD
once you get to this point you can start to think about other investments
4. mutual funds
5. stocks
6. so on and so on till you get up to yachts, fine art...yada yada
of course you may have to go back and revamp your list if you have kids, or health problems or if something major happens...
I like it cuz I have had a outline with what to do with my money for basically my whole adult life and havn't had to really wonder if I was doing the right thing or if I was missing something.
i am looking to buy some long term stocks after doing some research and then leave some money to do daytrading. how succesful can you be with these online brokerages in day trading. i understand that day trading is a risk but i am partly doing it for fun and to get a rush. im a gambler at heart. the long term stuff i will hold on to and try and be profitable with
Market doing well today;
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