Online Stock Exchange???

rugbybdyb · 01-12-08, 03:37 AM

not dumb questions, but I would make sure that you put a large portion of you roll into a stable investment depending on how much you have you can probably find one that will guarentee six percent.....Also if you can get in with a trading firm that will let you know when the IPO(initial public offerings) are going to happen these can be very profitable very quick and you are in and out....I think I would work with someone at first and then go out on your own, it may cost you a little up front but for the long run will help you....better than learning the hard way and not having anything to show for it at the end of the year.....

pico · 01-12-08, 03:46 AM

Originally posted by heineken

Hey Guys,

I know absolutley 0 about the stock markets and trading stocks, however I figured its about time I got into it since I could probably pick up the basics since im a long time gambler. Im wondering what is the best or is there any place where you can trade/buy stocks online, where do you do your trading? Once again, I know 0 about all of this so this might be a stupid question....

stick with mutual funds and etf. that is my advise to you.

DaveRabbit · 01-12-08, 03:52 AM

Get familirize with play money first, sign up for the Stock Simulator with investopedia.com , it has some elements that make it unrealistic (no real time quotes, caps, etc) but should be enough to get your feet wet.

ChampDog · 01-12-08, 03:57 AM

Heine, Unless you are willing and patient enough to buy and hold some Blue Chips for awhile (1 year or more) ??? Stay away from the stock market at this time, it's like an Overtime sporting event Day in and Day out. The Upside is if you Buy a Blue Chip stock to hold, NO OPTIONS, the Game Never ENDS !!! Anyway what ever you decide GOOD LUCK,

BrentCrude · 01-12-08, 06:22 AM

If you want to start out small with recreational fun trading

You can find out who is a penny stock friendly broker these days just by going on www.ragingbull.com get a username for free with a very short form to sign sort of like SBR forum here.Go to any active penny stock company chat group and ask what brokerage has dirt cheap commissions with little restrictions such as inactivity fees and unlimited size orders of penny stock etc.When you do put money into your account,make sure you tell them that you want a paperless account where you aren't charged for receiving statements in the snail mail.You can sometime get a million shares of pinksheets stock for $100 which is .0001 a share.If you ever place a trade,make SURE you ALWAYS have the decimals in the right place when you place an online order of penny stock.If you only have $100 in the account they can't probably place your mistake order that comes to more than what's in your account but in case they did and came after you for the extra $$$$$,never pay the bastards because it's against the law for them to do it.Always,ALWAYS!!place a limit buy order at the price you want to pay for a stock.Never place a market order where some manipulating market maker behind a curtain somewhere sells you stock that should cost a penny for 5 cents.

Then start out by putting $100 in plus whatever the commission fee would be which is usually $10-$20 I'm not sure if you can still find them but there may be recomended penny stock friendly brokers that might give you some free commission trades as a new signup.There used to be a few around.

Go to www.pinksheets.com and there will be a tab you can click that will show all the stocks selling for .0001 to 10 cents.Of course there are pink sheet stocks that sell over 10cents all the way up to the hundreds of dollars but as a beginner,buy some dirt cheap stuff.If you buy really low priced stock,make sure it has a high volume where it's actively traded every day.You don't want to buy a stagnant non tradable dead stock!On the pink sheets you can find out allot of information and news about most companies by just adding the stock symbol getting quotes and seeing tabs you click about news,company information.etc.You get the toll free numbers much of the time for the company and it's always good to call them and see what's up.If the line is no longer in use,get the hell away from that stock because it's dead!

When you find a dirt cheap high trading volume stock,then go to www.ragingbull.com again and go to that company chat room and look at what people are saying about that company.Make sure to find out if a reverse stock split is in the works with that company and then if it is,stay away from it and move on to find another company stock to buy into.A reverse stock split can turn 1000 shares into 1 share sometime and the one share for the moment is worth 1000 old shares but it always goes way down in price soon after the reverse stock split causing your shares to become almost worthless.That's why you should only invest very little fun recreational expendable money in this stuff. Pinksheet stocks are to the New York stock exchange and NASDAQ as to what a single A minor league baseball team is to their parent pro baseball team.

It's very common to see troubled stocks that were selling on the New York Exhange or NASDAQ in the past year for as much as $2-$15 that get delisted from those exchanges and sell for a fraction of a penny on www.pinksheets.com .So the $100 you spend now on the stock may have cost you 30 thousand dollars a few months ago.It looks attractive and fun to buy those stocks and for $100 you don't have much to lose but most of the time they go belly up.It's kind of like buying a horse that's totally injury plagued that ran in the Kentucky Derby last year where you are paying $1 a pound for it instead of the million dollars it was worth before it was injured.
If you have kids that don't work and have an income here is what you can do.Sometimes a measely $100 of penny stock can turn into over $7000.If you sold at that price,being that your kid has no income,you would not pay taxes on that whole $7000.Just with that incentive alone where you get the money tax free on a big win,it's worth spending $100 a year on teeny tiny penny stock.It's sort of like buying a sports betting futures ticket before the baseball or football season starts on who will win the world series or Super Bowl.The longshots can be 300-500 to 1 if you shop for good odds.

A few years back I had a winning ticket at 200-1 on the St.Louis Rams to win the Super Bowl and they did.

P.S.Then with brokers you can always place a limit sell order where once the stock reaches the goal price you would want to sell at,it automatically sells at that price.That's nice if you aren't around and the stock goes crazy upwards some day.

There are safegards to sell any stock and get out of a stock without losing all your money but as a beginner I would want you to know that in troubled times like we are in,the stock market is not beginner friendly buying allot of high priced stock.I don't trust very many people that tout stocks on tv or even companies that say all is well with them.There are more con artists in the financial world than there are in the gambling world with rogue sportsbooks.etc.The stock market is rigged and the government is in on it.

The pinksheets are like the wild wild west of the stock exchange world where there are much fewer regulations for companies to contend with than on the major exchanges.

If you want a fun and interesting movie to watch about penny stock,watch the movie Boilerroom.You don't want to become like the stock buyers in that movie.hehe!The Sopranos featured a penny stock boiler room as one of their shady and corrupt business ventures in a couple episodes too.

Dark Horse · 01-12-08, 06:50 AM

Start out simple. I would suggest Zecco.com. There you can trade for free for the first ten trades each month.

After you're familiar with how things work, move up to Thinkorswim.com. You can download their software for free and it has a papertrading option (which I would suggest you start using soon). Thinkorswim's trading platform is the absolute cream of the crop, but can be overwhelming if if you're new. Also, TOS only charges $5 per trade. Very low, for the industry.

We have regular posts here on the forum about the markets, so you can always ask there. This may not be the best time to get your feet wet. Apart from papertrading, I would wait a couple of months. In March I have a winning stock for you. Will mention it here.

Watch The Fast Money on CNBC. That's like a free college class five days a week.

Destroyer · 01-12-08, 11:06 AM

Contact the Private Wealth Management at Goldman Sachs. Goldman Sachs is the best of the best and is the gold standard of all investment banks on Wall Street. You'll make money with Goldman Sachs managing your assets.

Wrigley · 01-12-08, 12:49 PM

Id say scottrade