Online Trading?

Ok, maybe you chumps and chumpettes didnt know it, but you've been hanging out with the next Trump.... me! Problem is i'm just now learning to invest. So here's the deal. First question....

1) What is the best online trading broker? please give me reasons to back up your response and dont just mimic commercials or online adds. I prefer responses from people who actually invest. E-trade, scottrade, ameritrade.... what are the advantages and disadvantages?

2) Secondly, if anyone has any good online resources i'd appreciate it if you could share them. for example, some sites have graphs that are easier to read and the info is more user friendly than other sites. Some sites you have to search forever to find what your looking for as far as stock history's and all that. So if you invest i'd love to know what sites help you out the most. and i promise you this. if you give me good info on this thread, i'll buy you a new taco after i make my second billion.

 

I forgot to mention that after i make my first billion.... i'm gonna buy Texas!

 

Right now i have an old 401(k) that is in a mutual fund. i want to roll it over into something (i'm guessing an IRA) that i can manipulate myself. I have a gamblers personality and like the idea of buying and selling stocks. Since i cant touch the 401(k) till i'm 65, i dont really care if i lose it or not. i figure it will serve as a good learning tool and if i do well with it then i'll start investing money from my banking accounts. Gotta start somewhere, and it might as well be with money you wont miss right? i'm trying to lear Warren Buffets strategy. he uses psychology and sociology to predict market trends way before they happen. Thats why he dominates the stock market (he is the 3rd richest man in the world) people set market trends, so if you can predict people you can predict the market..... if you are good. unfortunately you have to practice to be good so i might as well get started on a side note i may not make the Carolina Meet since there is a good chance i will lose everything i own to the stock market by the end of next week

 

Most of the people I know use Ameritrade and like it. I gave my money to professionals awhile ago after hanging on too long to a "Sure Thing". Not enough time to monitor it.

Just Remember : "Bulls and Bears make money and the sheep are lead to slaughter." Don't be a sheep!!!

As far as buying Texas:

I think for a 6-pack of Bud Light they would give you the keys to the whole state. But then what would you do with it?

 

I haven't picked a site yet. I have heard alot of good stuff about Scottrade but it looks like you have to keep some minimums in their accounts. Right now i'm not putting alot in so i dont want to have to worry about minimum account numbers. I have been spending alot of time on Motleyfool.com just trying to learn all i can. trying to figure out all the confusing lingo and all the little details. I'm also trying to figure out if i can roll my 401(k) over myself or if i have to go find a profesional to do it. so you use Ameritrade, do you know anything about etrade or scottrade?

What will i do with Texas when i buy it? good question..... sink it, burn it, or blow it up

I know i can technically take it out, but if i take it out before i certain age i am taxed and penalized so i only get like 50% of it. i would rather use it to get use to the stock market. Sort of like "play money" when you play online poker.

 

You should consider commodity trading. Much more exciting and bigger profits. Talk to your trader about it. I suggest you invest in grain and seeds. Its a win-win situation. If the market crashes, you can peck away at the seeds.

 

i dont have a trader. plus, if i could invest in commodity's and then keep them if they didnt do well, i would invest in beer. thats a commodity right?

Duh, thats why i'm investing. i dont have money now but after i invest i'll be rich!!! Dont you know anything? Nobody in the history of America has ever lost money on the stock market, its a sure thing! I dont know why everybody isn't trading stocks. Now i just have to go to a loan shark and borrow about 25k. i'll have that trippled in the first day. its fool proof!!!

 

I consider Beer more a necessity! I invest in it all the time but I keep losing my initial investment.

 

You mean you keep flushing your investment down the drain .

 

I use Sharebuilder. No minimum amount to buy. I have bought stocks with $50 before. They have 3 types of accounts. I use the free one(no monthly fee) $4 a trade to buy. I think they charge $11.95 to sell. They have one that is $12 a month with 6 free trades.

A good site to learn http://www.investopedia.com/university/stocks/

 

Thanks for the response Sean but i pulled the trigger a few weeks ago with charles schwabb.

 

scottrade for me!