Stock Market

[Torres]

damn! soon as i get a real job with some extra cash i may just do that. and let it sit just to see how it goes. that'd be so nice

[FiBTLforlife]

Commission rates matter for me because when i buy in, i plan on buying out the next day after i have profited around 100.00, that is what i shoot for, and doing that once a week, and a 24.00 commission rate will matter.

Trade King does have excellent customer service, i actually dont even call them because their chat feature is all i have ever needed and all my questinos become resolves through the chat session. Shoot, I chatted with a tradeking rep for 10 minutes online just asking them basic questions to better understand the trading regulations.

Look, I understandFiBTLforLife's goal, and i respect it. You are right. Investing 30 bucks is nothing, and you can sit on it as long as you want because chances are your not going to have to pull that 30 bucks out because you need it the next week. The only question is, how many of those penny stocks are actually successful? for a .0005 stock to even get to .01 is a gain of like 1,000% (dont want to do the math but you understand my point), which is very unlikely, any penny stock increasing at all is very unlikely, the only way i see a penny stock increasing significantly (depends on what the initial price you paid for is) is by the actual company doing something that is seen as extremely significant by the public, and a lot of people buy their stock because of it. From my experience with penny stocks around as low as .005, the trading volume is very miniscule, so the trade price doesnt really fluctuate at all. If it does change it will take a long time, which back to what you said, You are sitting on 30 bucks, so who cares.

i dont mean to come off like a hard head on things. you have me interested in this stock trading site that you use and i might be willing to give it a shot. its like buying a Fi sub then someone telling you that DC was good also. you dont want to go to different brands becuase u know u have had no trouble, but from what u are saying they sound really good and liget. how is their live feedback when looking at your stocks? any advice i need to know bf using them like min opening amounts???

lol i like it that allot of you guys are interested in the stock market also, didnt know so many people on the forum did it also......

[Colin - STAPUFT]

Texas Tech

http://www.daveramsey.com This is not late night money guru stuff.... this is common sense and it works.

What you are talking about is the power of compound interest. Why do the banks have the biggest buildings??? They have people paying them. The reason banks are "hurting" right now is because people aren't getting loans and people are paying themselves instead of the banks. Now is a great time to make your building the biggest one.... it is just going to take about 50 years.

If you bank on yourself and don't borrow money- instead of paying a bank interest on something you want, you pay yourself up front. Not only do you not pay the interest to the lender, but you will MAKE interest. Not as much as they charge you, but you still have a positive income and don't have interest. So it is like double the money.

Now, if you can do that for everything you own (except for your house... only get a 15 year loan fixed), then you can have everything paid for. Then you can put money away in the amounts that you are talking about. A mere 4k per year starting when you are young will make you millions due to compound interest. The best way to get rich fast is to get rich slow.

Penny stocks do sound like fun, but unless you get really lucky, you aren't going to get super rich off of them. I would do that just for fun, but not with money that I didn't expect to loose- if you follow my meaning.

Fun topic!

[Jcoleman134]

Yeah as Colin said this is a fun topic. im not looking to make a whole lot of money. really just looking at getting some money to pay my car off. i'm learning a good bit in here i hope this thread keeps going. i was never really in to stocks until.

[Bill]

I may have missed this, but does TradeKing take PayPal?

I've been out chasing Kangaroos so I didn't check the last two pages thoroughly!

Bill

[Jcoleman134]

When using etrade and buying stocks it gives you a price type. say for the BCFT stock i cant choose market and i'm not sure what else to go with. i've done a little research about the different price types but im still not sure

[Texas Tech]

I guess your other options are limit, stop, or stop limit orders. is that what your speaking about?

[Jcoleman134]

yeah thats what im stuck on.

[Texas Tech]

If you put a buy limit order, say for $20.00, GTC, you will not buy that stock until it hits $20 or less, if the stock never gets to $20, you will not buy it. For Sell Limit, say $20.00,GTC, you wont sell that stock till it gets to $20 or more; if it never gets to 20 youll never sell your stock.

A buy stop order, GTC, say $20, means your stock wtih buy in once it goes above $20, assuming the price of the stock at that time is below $20.00. This is usually used for short sales (which i know nothing about).

A sell stop order, GTC, say $20, means your stock will sell out once it hits $20, its basically a security measure. You do this when you have stock that is like $25.00(or anything above $20.00)

The best way to learn how these operate is to join a virtual stock market and just do the trading with those orders and just see how it works.

FYI, I learned all that on wikipedia so if you want to learn more just search on wikipedia.

[FiBTLforlife]

When using etrade and buying stocks it gives you a price type. say for the BCFT stock i cant choose market and i'm not sure what else to go with. i've done a little research about the different price types but im still not sure

you will choose limit price. if the stock is at say $0.12 for the day and u want to buy it. put your limit price at $0.13 or 14 then etrade will go in and by the share for 12cents most likely unless it goes up right then to 13cents. this is what i use and works great .