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Cheap and easy stock purchase options?

Started by Snort and Squeal, June 08, 2008, 09:29:54 pm

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Snort and Squeal

June 08, 2008, 09:29:54 pm
I am looking to purchase some stocks and have never done it.  Where and how would you guys recommend it?  Through a broker or online?  I have no holdings other than closely held and retirement holdings so this is new.

Thanks!
Is it any coincidence that we bleed red???  I think not!

Section B

June 08, 2008, 09:36:05 pm #1
If you're looking to do it yourself online, Scottrade works well for me.  Don't know where you're located but they have offices in NW and Central Arkansas.

$7 per trade commissions.  Easy to use interface.
Quote from: wocraig on February 23, 2009, 09:34:42 PM
"This is the beginning of a major character flaw with American society.
If this feeling of entitlement is allowed to fester, our republic will not be maintainable.
We need a grassroots movement encouraging personal responsibility and the reiteration that government only provides equality of opportunity... NOT EQUALITY OF OUTCOME." 

Amen brotha.
 

CampuspostmanHOG

June 08, 2008, 10:29:00 pm #2


Scottrade is fine and they will teach you how to enter your buy/sell orders.

There are some key things to do on your order to keep the Market Maker or Specialist from taking advantage of a beginner's mistake.  "All or none" and limit/market orders are key terms to learn and understand.

The $7 doesn't cover fees so count on about $9-$10 per trade.

Section B

June 08, 2008, 10:34:24 pm #3
Quote from: CampuspostmanHOG on June 08, 2008, 10:29:00 pm

Scottrade is fine and they will teach you how to enter your buy/sell orders.

There are some key things to do on your order to keep the Market Maker or Specialist from taking advantage of a beginner's mistake.  "All or none" and limit/market orders are key terms to learn and understand.

The $7 doesn't cover fees so count on about $9-$10 per trade.

I think the biggest commission (including fees) I've ever had on Scottrade was around $7.50.
Quote from: wocraig on February 23, 2009, 09:34:42 PM
"This is the beginning of a major character flaw with American society.
If this feeling of entitlement is allowed to fester, our republic will not be maintainable.
We need a grassroots movement encouraging personal responsibility and the reiteration that government only provides equality of opportunity... NOT EQUALITY OF OUTCOME." 

Amen brotha.

CampuspostmanHOG

June 08, 2008, 10:48:53 pm #4
Quote from: Section8 on June 08, 2008, 10:34:24 pm
I think the biggest commission (including fees) I've ever had on Scottrade was around $7.50.

I stand corrected. The fees are higher on penny stocks which I've traded lately but right at the $7 for the higher priced stocks.

Section B

June 09, 2008, 01:55:41 am #5
Quote from: CampuspostmanHOG on June 08, 2008, 10:48:53 pm
I stand corrected. The fees are higher on penny stocks which I've traded lately but right at the $7 for the higher priced stocks.

I stand corrected as well. Commissions are higher on penny stocks, and I believe it's calculated by the number of shares beyond a certain number which escapes me since I don't trade those.
Quote from: wocraig on February 23, 2009, 09:34:42 PM
"This is the beginning of a major character flaw with American society.
If this feeling of entitlement is allowed to fester, our republic will not be maintainable.
We need a grassroots movement encouraging personal responsibility and the reiteration that government only provides equality of opportunity... NOT EQUALITY OF OUTCOME." 

Amen brotha.

PhillyHog

June 09, 2008, 03:12:26 am #6
Ameritrade is pretty good as well.

The only advice I can offer is don't trade too much.  Nothing eats away at gains more than the commission these guys pull. 

Remember to account for the commissions as a percentage of the investment that you have to recover to break even.
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