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Author Topic: which online trader should i use?
pyroman
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ive seen sharebuilder.com and so far im impressed but i really need hel finding a cheap way to buy and sell stocks,any ideas' on what sites i shoudl use?
Posts: 38 | From: jacksonville | Registered: Jun 2003  |  IP: Logged | Report this post to a Moderator
pyroman
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heres a page on share builder for there rates https://www.sharebuilder.com/sharebuilder/Service/Fees.asp? for an advantage account it has 11.95 for market trading .. what does hat mean? but it says 1 dollar for automatic investments, please someone help me!!!
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pyroman
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PLEASE..!! ANYONE?!..
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pyroman
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ANYONE?! lol pleasee help
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Mehul_Sangani
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If you have $5k use http://www.freetrade.com
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pyroman
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5k??? are crazy i got like 200
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Jeremy
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If you can only afford to invest 200 dollars, you seriously need to reconsider investing at this time. Even if you found a stock that went up 10% (not all that common to be successful at picking) you're only making 20 dollars. If you figure 5-10 dollars commission per trade, you're looking at 0-10 dollars of actual profit.

I would only look into getting into trading/investing when you can safely put up 1000 dollars or more, otherwise it really isn't worth your while, and you will end up more discouraged with the whole situation.


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Tip
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I would go even a digit higher, and say that you'll only become successful when trading a minimum of $10,000 per trade. The reason for this figure is because when you are trading smaller amounts, you are forced to hold onto the stock for larger gains, and therefore, you have very little control over the sell price.

Ex. $1000

Buy: $985 + $15 commission
Sell: $985 x 5% = $1034 - $15 commission = $1019

So in the scenario above, you are gaining only 1.9% and donating 3.1% to commission fees.

In the case of $10,000:

Buy: $9985 + $15 commission
Sell: $9985 x 5% = $10484 - $15 commission = $10469

In this case, you gain 4.69% and only donate .31%

And remember, we're talking about a 5% gain, which is quite substantial in most traders books.

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Tip


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TraderGene
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I am with ShareBuilder for a few years. Started using it with $200. For the beginning you can invest with a fee $4.00 per trade but you need to do this only on Tuesdays. If you need to sell you shares it will be $15.99 per market trade, and 19.99 for limit trade.

There are also (2) programs with different monthly fees.

I am still with ShareBuilder because could not find any online trader with overall cheap rate. (I meant any commissions + any fees).

quote:
Originally posted by pyroman:
PLEASE..!! ANYONE?!..


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pyroman
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hey thanks man, but umm so that 4 dallars per trade... are they sayin i cant trade during the market thing? at 4 dollars?.. i would have to make all my trades on tuesday to get the 4 dollar rate?...well that freaking sucks because even with advantage the real market rtrsades would be 11.99
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TraderGene
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No. for $4.00 on Tuesday is not a market trade. If you decided to go on Tuesday you should send them money aheard of time (before 5:00 P.M. EST on Monday). To get trade for $11.99 you need to agree for a monthly programm fee of $20.00. in that case all you trades will be for $11.99 and if yopu decided to buy shares on Tuesday it will be free for you for (20) trades per months.

You can check their plans right here:

https://www.sharebuilder.com/sharebuilder/Home/QuickQA.asp?Question=3

quote:
Originally posted by pyroman:
hey thanks man, but umm so that 4 dallars per trade... are they sayin i cant trade during the market thing? at 4 dollars?.. i would have to make all my trades on tuesday to get the 4 dollar rate?...well that freaking sucks because even with advantage the real market rtrsades would be 11.99


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pyroman
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thanks.. but so.. ya i know im going to get the advantage subscirption.. but the like $1 a trade and the 20 free ones.. are only on tuesday?.. does that mean i can trade during the market time on tuesday.. if not.. when am i allowed to make the trades ontuesday... afterthe markets closed? during? or before..
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TraderGene
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I suggest you to read all programs first and compare them. You need also to be sure they (I meant ShareBuilder) can trade the stock you are going to buy. They are not trading all stocks. I am also is not sure how you can play with only $200.00. The overall commisions and program fees can eat all you earnings!


quote:
Originally posted by pyroman:
thanks.. but so.. ya i know im going to get the advantage subscirption.. but the like $1 a trade and the 20 free ones.. are only on tuesday?.. does that mean i can trade during the market time on tuesday.. if not.. when am i allowed to make the trades ontuesday... afterthe markets closed? during? or before..


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