Savag3
10+ year member
sav'd out
is scottrade the way to go ? or is there better online ?
here to buy
10+ year member
Crescendo
Depends on what your going for. If you are serious about trading and are going to be trading high volumes, frequently or day trading, lightspeed or GoldmanSachs redIplus (Hard to get if not a GS client) is the way to go. They are direct brokers, as in, place your order and its executed instantly, you catch the quote you pressed buy at 99.9% of the time.
Scottrade and TDameritrade is all that's needed for not trading basically everyday of the market/daytrading. They both have few second delays on executing your orders, and the quoting speed is alot slower than lightspeed and GS.
If you plan on doing any daytrading or trading lots of shares back and forth, skip td and scottrade and get lightspeed.
My suggestion: Until you know what you're doing, go in on a mutual fund or an Exchange traded fund that tracks a broad market index. Periodically pump cash into it and let it accumulate while you research things, then move that money into individual stocks. The fastest way to become a millionaire on the stock market is to start with with a billion.
Right now I am holding NOK. (Too greedy and stupid to sell when it was in the 40s but still at a healthy profit, I've had it for nearly 10 years.) Also liking NSANY. I also believe Ford will be the first of what is left of the auto industry to become financially strong again and am considering buying some. If you want to gamble on penny stocks well so be it, it's like playing the slots. Pick something on a downtrend that you can afford enough shares of to profit quickly on a big move. Snap it up, watch it like a hawk, and don't put any more money into it than you could kiss bye bye without feeling any real pain. And when it moves, don't be greedy, be ready to take your money back off the table quickly. Penny stocks can be volatile.
If you're investing for the long term, realize that the market is littered with loosers who pumped money into companies too big to fail or which seemed on the face of it like sure things. Until the hidden financial data that insiders find out about first becomes public. They dump their shares, then the guys who monitor the market 24/7 because it's what they do dump theirs almost immediately when the bad news comes out, and it plummets to a fraction of what it was before you even get a chance to log in and see what it's doing.
Right now I am holding NOK. (Too greedy and stupid to sell when it was in the 40s but still at a healthy profit, I've had it for nearly 10 years.) Also liking NSANY. I also believe Ford will be the first of what is left of the auto industry to become financially strong again and am considering buying some. If you want to gamble on penny stocks well so be it, it's like playing the slots. Pick something on a downtrend that you can afford enough shares of to profit quickly on a big move. Snap it up, watch it like a hawk, and don't put any more money into it than you could kiss bye bye without feeling any real pain. And when it moves, don't be greedy, be ready to take your money back off the table quickly. Penny stocks can be volatile.
If you're investing for the long term, realize that the market is littered with loosers who pumped money into companies too big to fail or which seemed on the face of it like sure things. Until the hidden financial data that insiders find out about first becomes public. They dump their shares, then the guys who monitor the market 24/7 because it's what they do dump theirs almost immediately when the bad news comes out, and it plummets to a fraction of what it was before you even get a chance to log in and see what it's doing.
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