Toyota's stock

Toyota is going through some rough times right now and their stock is down quite a bit. I have a lot of faith in Toyota and I am sure they will bounce back. Anyone else thinking about dumping some money into their stock? I wish I would have put a bunch of money into ford when they were down. input?

 

I agree though I don't know what a good price input would be for Toyota. These problems are temporary, unless you believe it's only the tip of the iceberg for their quality control.

I remember in hindsight looking at Ford and wondering if I should have bought some. At $1 per share, it seemed like a good buy but I felt they were doomed so I didn't.

 

If I knew how, I would most def be buying socks. they are the only company doing well right now. (other than the gas pedal issue, but they are fixing it)

so, insight on how I get into buying stock? haha

 

You just need to open an account with a broker (e.g. Charles Schwab, TdAmeritrade, eTrade, Scottrade). They all have a minimum deposit to open an account. Charles Schwab is $1000. I believe Scottrade will open an account with a minimum deposit of $500. Then you just use the brokerage site and order the stocks that you want for the price you want to buy them at (limit order) or just state that you want to buy the stock at the current going price (market order).

If someone fills your order, you'll own the stock. You can't buy more stock than there is money in your account so if you deposit $500 and you're trying to buy Toyota shares ($71 per share), you'll only be able to buy 6 shares (don't forget to include the trade fee).

Also, when you sell a stock, you'll have capital gains taxes due if you sell it for more than you bought it for so you'll have to keep track of the buy/sell price (most firms will send you buy/sell receipts and annual reports of buy/sell activity).

They all have different fees to buy/sell a stock as well and tutorials on what the different ways to buy a stock are (e.g. market orders, limit orders). Make sure you understand those before you begin trading.

 

Wow, I didn't expect that, Thanks! I'll start doing some research.

 

Just noticed that you're a Canuck (the big flag in your sig was a clue)! You might look for sites that have a Canadian branch. Also, your tax laws are going to be different.

 

yea I figured I'd have to research a bit and figure it out here in canada

 

Any clothing store should be able to help you out.

 

hey rab,

every major bank has their investing affiliate, whether it's RBC, CIBC, TD, ScotiaBank, BMO, whatever. i use RBC Direct Investing myself, and it's super easy to buy stocks.

i actually bought my tacoma using money i made from stocks, they charge you $29 a trade whether it's buying or selling, then like somebody else said, you pay capital gains tax on whatever profit you make, but it's only taxed at 50% of your marginal tax rate.

blah blah blah

if you have any ?'s, just pm me and i'll run you through it.