What is better: Ameritrade, Sharebuilder, or another site?

[Mr. Trout]

This is for the financial gurus in here. I am not a good fine print reader and am looking to dabble in some stocks and/or mutual funds.

[Mr. Trout]

I guess fidelity is another site worth mentioning.

[TallyBronco]

None of them. The research is very clear on this point. Amateur traders show lower ROI than those who pick an average mutual fund and just sit on it. Men tend to be especially self-deluded on this point, and tend to trade most often. And the most frequent traders among the amateurs lose the most money.

You're not smarter than the market. You can't beat it. You must be assimilated.

If you get some odd pleasure out of moving securities from one folder to another, then go for it. But if you simply must put your money on the NYSE pick a solid fund and take up a secondary job. You'll make more money sweeping floors on the weekend.

[Mr. Trout]

your probably right. i wasn't planning on getting too wild with it though.

[Mr. Trout]

Do you have any input on the best site to do just mutual funds.

[hades]

I use E*Trade, if you do over 30 trades a qtr. it is $9.99 per trade.

When the mkt is down, look at ETF's, like QID, DOG, etc. (Well get them on days the mkt is good, sell on bad mkt days like Friday!) Some solar stocks are doing OK right now too, especially when oil prices go up. Solar is a good long term hold, but can flucuate. I made some good money with WFR over the past 3 months.

TallyBronco, if you do research and don't trade on feelings, you can still beat the market. I started trading on Oct. last year, and I have gained over %30 in my porfolio. It's all about timing, not being greedy and research (and of course luck). I made a killing on CFC, I sold the day the announced merger came out and more than doubled my investment. Same with E*Trade (ETFC). I have bought/sold them 4 times already, getting ready to sell again if the rumor of a buyout is true)

You can do some free research on companies with zacks.com, and they also have daily recommendations.

[JJJ]

Originally Posted by TallyBronco

None of them. The research is very clear on this point. Amateur traders show lower ROI than those who pick an average mutual fund and just sit on it. Men tend to be especially self-deluded on this point, and tend to trade most often. And the most frequent traders among the amateurs lose the most money.

You're not smarter than the market. You can't beat it. You must be assimilated.

If you get some odd pleasure out of moving securities from one folder to another, then go for it. But if you simply must put your money on the NYSE pick a solid fund and take up a secondary job. You'll make more money sweeping floors on the weekend.

That is why I use Sharebuilder as they specialize in dividend reinvestment plans. Just pick a fund or company you like and DRIP it every month. Dollar cost averaging is the only way to go.

[Meck77]

I'm just a firm believer in working with people you meet. It's not a hand of blackjack in vegas. There are expenses to consider but IMO the additional services will get you on the right track if you form the right team.

[TheReverend]

Any company that has a comparable price and allows you to search for micro cap, value stocks and you're fine.

[400HZ]

Originally Posted by Mr. Trout

Do you have any input on the best site to do just mutual funds.

Vanguard has some of the highest rated funds and one of the lowest expense ratios. Their top funds have really high minimum buy in amounts, though. Among the cheaper ones, Windsor II and Global Equity were rated high in a lot of financial magazines last year.

[Meck77]

Now what does a Kansas kid know about Trout Mr. Trout? You man have to trade online if you live in Kansas!

I use tdameritrade and scotttrade. scotttrade $7 per trade and TD $9.99

[Vegas_Bronco]

If you have more thatn $50,000 to invest, I know the boys for you - their up 22% on mutual funds last year. But, I grew tired of mutual funds and my investor said he would line me up with those who few know - the really rich basta... we all hate but wish we knew.

Typical ROI on the stock market has been 10% since 1920's - don't expect 2008 to be one of those all-common years. This year will be a bloodletting.

Although there is GREAT news, when the dollar is weak, there is always forex - check out this website: www.babypips.com (takes you through grades 1-12) - set up a practice acct of $50k at forex.com (make sure you tell them a bronco fan referred you) and start practicing every night (BUT ONLY AFTER SCHOOL IS COMPLETE) - watch for the majors (USD/JPY, GBP/USD and EUR/USD) to move at 9-12pm PST or from 4-8am PST (you know you don't sleep anyway). It's something to do while you work on those late night projects.

When you become proficient, take you $ to www.tradestation.com and open up a mini-account. Don't give them anything you're not willing to part with but just enought to learn - inside of 3-4 months experience you'll be making fools out of stock brokers and the NYSE.

After doing well in the stock market, the past 3 years, I quit and went to forex trading - H-O-L-Y .... - it is something to behold once you've graduated from babypips school you're ready to make some money. Remember though, don't leverage before you've gained sufficient knowledge as you will get slaughtered (use practice acct to get started - its hypothetical $).

There are few things the 'rich' want us to know - this is one of the many!

[Popps]

Originally Posted by TallyBronco

None of them. The research is very clear on this point. Amateur traders show lower ROI than those who pick an average mutual fund and just sit on it. Men tend to be especially self-deluded on this point, and tend to trade most often. And the most frequent traders among the amateurs lose the most money.

You're not smarter than the market. You can't beat it. You must be assimilated.

If you get some odd pleasure out of moving securities from one folder to another, then go for it. But if you simply must put your money on the NYSE pick a solid fund and take up a secondary job. You'll make more money sweeping floors on the weekend.

Let me sum this up for you all.... you're all idiots. Don't attempt to think for yourself... trust your money to someone who doesn't care about you, charges you fees for something you could easily do yourself, and brings you whopping 10% returns per year.

I've been involved with investing and trading securities for about two decades and that's some of the worst advice I've ever heard.

Anyone who follows that advice deserves exactly what they get.

[Vegas_Bronco]

I agree popps! Why would you ever ask someone else how to invest YOUR money? Get off your azz and learn something - do it yourself!

[Meck77]

Originally Posted by Vegas_Bronco

If you have more thatn $50,000 to invest, I know the boys for you - their up 22% on mutual funds last year. But, I grew tired of mutual funds and my investor said he would line me up with those who few know - the really rich basta... we all hate but wish we knew.

Typical ROI on the stock market has been 10% since 1920's - don't expect 2008 to be one of those all-common years. This year will be a bloodletting.

Although there is GREAT news, when the dollar is weak, there is always forex - check out this website: www.babypips.com (takes you through grades 1-12) - set up a practice acct of $50k at forex.com (make sure you tell them a bronco fan referred you) and start practicing every night (BUT ONLY AFTER SCHOOL IS COMPLETE) - watch for the majors (USD/JPY, GBP/USD and EUR/USD) to move at 9-12pm PST or from 4-8am PST (you know you don't sleep anyway). It's something to do while you work on those late night projects.

When you become proficient, take you $ to www.tradestation.com and open up a mini-account. Don't give them anything you're not willing to part with but just enought to learn - inside of 3-4 months experience you'll be making fools out of stock brokers and the NYSE.

After doing well in the stock market, the past 3 years, I quit and went to forex trading - H-O-L-Y .... - it is something to behold once you've graduated from babypips school you're ready to make some money. Remember though, don't leverage before you've gained sufficient knowledge as you will get slaughtered (use practice acct to get started - its hypothetical $).

There are few things the 'rich' want us to know - this is one of the many!

In other words the trend is your friend. Well except for Vegas.

[Vegas_Bronco]

Etrade is like driving a luxury sports car that gets 2 miles to the gallon - sure it's beautiful, drives, and you look good, but their fees/expenses are ridiculous!

I use Etrade for all my research and have a small account of $250.00 in there - so I use them all day long for their information and research, but all my trades are carried out in another account - scottrade, therefore I get the best research with a lower cost per trade.

[Vegas_Bronco]

Originally Posted by Meck77

In other words the trend is your friend. Well except for Vegas.

Exactly -

I forgot to mention, whatever you learn in life that makes you successful, MUST BE PASSED ON! Success is not a end but a journey as my trader says and that journey is to help as many as you can to be successful in all facets of life !

[Popps]

Originally Posted by Mr. Trout

This is for the financial gurus in here. I am not a good fine print reader and am looking to dabble in some stocks and/or mutual funds.

Personally, I'd recommend using a couple of discount brokerages.

Sharebuilder: Great site for DRIP and Auto-investment plans. Perfect for those who don't want to think TOO much about it, but want some control and don't want to give a huge chunk of your gains to a fund manager.

Scottrade: Very low rates on trades and user-friendly. Good for intermediate to advanced traders. There are some drawbacks for the advanced trader (Options limitations, no put-selling, margin issues, etc.) But, it's good enough for most average to active investors and their tools are actually pretty useful. Excellent real-time quotes, etc.


As for mutual funds, there's nothing wrong with them. They're great for a portion of your portfolio. I'd recommend starting a Roth IRA with Vanguard. (Take your pick, they have a lot of great funds.)

But, to simply throw your money in one or two mutual funds is not just lazy, it's counterproductive. There are TONS of options from muni-bonds to preferred stock and other ways to make a nice return without exposing yourself to too much risk.

Hell, just simply investing in the major indexes will bring you more than your average mutual fund over a 5-10 year period and guess what... you don't have to piss part of your profits away!

Diversify, but don't totally avoid risk. Temper it with key factors like age, income... etc. But, you should have a varied portfolio ranging from cash to (eventually) ... more advanced investments like futures and options. (Once you've really found your way around.)

Motley Fool is a great starters site for newer investors that also happens to be good for advanced traders. They stress fundamentals, even for the experienced.

Start slow and take time every day to research and learn. It's rewarding financially and gratifying to know that you're taking care of your own finances.

I started saving money from my tips as a waiter and bartender back in the day... and grew that money into enough to start my business which is how I support my family today.

I'd wish you luck, but it's not about luck.

Enjoy.

[Popps]

Originally Posted by Vegas_Bronco

I agree popps! Why would you ever ask someone else how to invest YOUR money? Get off your azz and learn something - do it yourself!

Well, when someone is using catch phrases like "you can't beat the market," it's clear that he's heard someone else say this... and he's repeating it.

Any remotely seasoned investor knows you don't "beat" the market. You WORK with the market. Good investors don't just make money when the market is going up.

In any case, I think most people have more sense than to take such a lazy, frightened approach to their financial welfare.

[Taco John]

I am personally petrified of the market right now until this dollar thing gets straightened out.

[Meck77]

Originally Posted by Taco John

I am personally petrified of the market right now until this dollar thing gets straightened out.

Terrified? Then diversify and relax a bit or throw some poker chips out?

[Taco John]

Originally Posted by Meck77

Terrified? Then diversify and relax a bit.

I wouldn't touch a stock with a ten foot pole right now. I have been diversifying in hard commodities. They're going gang busters right now thanks to the Fed devaluing the dollar at every opportunity they get.

I might think about getting back into the stock market once they start raising rates again.

[Vegas_Bronco]

Originally Posted by Taco John

I wouldn't touch a stock with a ten foot pole right now. I have been diversifying in hard commodities. They're going gang busters right now thanks to the Fed devaluing the dollar at every opportunity they get.

I might think about getting back into the stock market once they start raising rates again.

TJ - I agree!

The best investment over the next month will be investing your pix in the NCAA tournament - lol! Laugh all we want, but honestly, a true sports nut typically makes a killing over the next 2 months. Teams are killing each other in order to make the grade for the tourney. Personally, I stay away from sports betting, but all my friends love it and do very well! Its a good way to diversify - lol!

[Popps]

Originally Posted by Taco John

I am personally petrified of the market right now until this dollar thing gets straightened out.

Start accumulating defensive names at discount prices over the next six months. THIS is when you want to be looking at what's on sale (and over the next few months) .... not after the dow has popped 5-10%.

Also keep in mind, if you're that bearish... there are ways to play that too. You mentioned some good ones but there are more.

I'm not saying to take big swings, but there's definitely money to be made when things are getting beaten up. (Be it selling short or accumulating on drops.)