What is the best way to trade with your own money?

Last post 08-26-2008 7:35 PM by majik13. 10 replies.
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  • 08-06-2008 5:47 AM

    What is the best way to trade with your own money?

    I am wondering what company will give you the most freedom when you are trading with your own money? I am having so much fun doing this I want to invest my own money and see how I really do..

  • 08-06-2008 11:05 PM In reply to

    Re: What is the best way to trade with your own money?

     I opened a small Roth IRA account with Sharebuilder.com just before leaving my employer. Wish I had known about WSS sooner. I have so much to learn about investing and choosing the right stocks.

  • 08-17-2008 7:08 PM In reply to

    Re: What is the best way to trade with your own money?

    Do you want to trade or invest? Alot of Daytraders use tools like wizetrade, investtools, etrade etc..For long term investment planning a lot of people recommend Fidelity...Set the goals, both long and short term, then pick the vehicle.....

  • 08-18-2008 5:59 AM In reply to

    Re: What is the best way to trade with your own money?

    I had been investing real life for a number of years with Sharebuilder.com before I started the games.  My only advice is to invest in dividend paying stocks and reinvest the divs!  It took me several years of losing money to learn that little trick. Do some research on companies you're interested in...and they don't have to be the BIG guys.  There are some nice div paying smaller co's out there.

    Good Luck

  • 08-18-2008 9:06 AM In reply to

    Re: What is the best way to trade with your own money?

    I have had good luck with Scottrade.  They charge $7.95 no matter how much you invest.  I am using this for long term investing not day trading.

  • 08-18-2008 12:18 PM In reply to

    Re: What is the best way to trade with your own money?

    r1a2c3e:

    I have had good luck with Scottrade.  They charge $7.95 no matter how much you invest.  I am using this for long term investing not day trading.

     

    Does Scottrade allow fund buying?

  • 08-19-2008 7:41 AM In reply to

    Re: What is the best way to trade with your own money?

     I've invested in stocks and bonds over the years and i have found that I do much better to invest in bonds. Bonds have some unique features that stocks don't. first bonds pay interest on a regular basis, second bonds can be traded like stocks, third there are credit ratings for bonds that show it's financial strenght and weakness and can be evaluated on it's ratings.

    Bonds also have the feature that if a company goes belly up the bond holder will recoup a good portion of it's value whereas a stock holder will usually get nothing.

    There are many more features to bonds that make them a really good way to invest and make a decent return with some security.

  • 08-19-2008 11:03 AM In reply to

    • Maxxy
    • Top 500 Contributor
    • Joined on 08-13-2007
    • Posts 51

    Re: What is the best way to trade with your own money?

    I used TDAMERITRADE.com because at the time it seemed it was easier to sign up and I don't know, about the new ones. and if you can join Wall Street but it may be a good one also since it has given us this wonderful game.

    Have you decided all ready?

    Talk to many people before you decide.  But I have had no problems since 03 at ameritrade.

    God Bless

     

  • 08-26-2008 1:14 AM In reply to

    Re: What is the best way to trade with your own money?

    I use scottrade too. NO , fee's and only 7.95 a trade . you get real time quote 's for free , and just call them with any questions you have . They make it simple , If you can play this game you will not have any trouble.and you will really like their site .
  • 08-26-2008 1:15 AM In reply to

    Re: What is the best way to trade with your own money?

    Opp's I for got to tell you not to invest any money you can not afford to lose .
  • 08-26-2008 7:35 PM In reply to

    Re: What is the best way to trade with your own money?

     Corky has said something that is the absolute truth, do not invest any money that you may need in the near future, rule of thumb, have 6 months living expenses in a savings account and then start investing slowly, pick good quality stocks that pay a dividend and play this and other free games as much as possible till you understand the workings of the  market, government etc.

    The first thing you want to do is decide if you want to invest for the long term like 5, 10 or more years or if you want to make a quick buck. If you choose the latter then you might as well play the ponies or go to Vegas because there is no get rich scheme in the stock market.

    You'll here all those gurus tell you that they have a formula on how to get rich quick in the market lol, if that was true why would they want to tell you for only $99.99.

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