Stock Market, still good?

[Hoanandonly]

I have never traded or invested in a stock yet. But I was planning to join the market now that I have extra income. The problem is the market is looking very shaky. Should I still do it or wait until it is more stable?

[unkown5454]

Depends on the industry you want to invest in. I day trade and invest long term. I don't care what the market is doing overall, if my stocks are flying, then I am getting paid.

[rsot]

I can only do invest long term at the moment. Day trading takes a lot of diligence and checking.

Market is always shaky but you have to focus on the industry as unkown mentioned and sectors.

Don't invest/trade money that you can afford to lose - be prudent.

@unkown, what platform you using - TD Ameritrade? Or...?

[unkown5454]

Originally Posted by rsot

I can only do invest long term at the moment. Day trading takes a lot of diligence and checking.

Market is always shaky but you have to focus on the industry as unkown mentioned and sectors.

Don't invest/trade money that you can afford to lose - be prudent.

@unkown, what platform you using - TD Ameritrade? Or...?

Yes, TD is definitely one of them. I have a number of accounts, but TD has more tools to help traders, especially for new traders who cannot afford all of the ridiculously expensive software that's out there to help with analyzing the market. 500 free trades plus a flat $9.99 fee per trade is awesome, especially for those who invest in penny stocks where you are purchasing a few thousand shares at a time. Some other brokerages will rape you for trading large volumes, but not TD.

[rsot]

Number of accounts - very cool....what a sweet way to spread activity.

[empirestate]

Look into undervalued oil stocks, when there is blood in the market, that is the best time to buy.

[unkown5454]

Originally Posted by rsot

Number of accounts - very cool....what a sweet way to spread activity.

Exactly. Gives you a lot more power. Also, for anyone interested, check out Robinhood. Runs on Android and iOS, amazing clean app and very good for beginners. Fees are just $6.95 per trade I believe and they only allow you to trade on settled cash. Helps to mitigate some risk if you don't know what you are doing.

[Hoanandonly]

Originally Posted by unkown5454

Exactly. Gives you a lot more power. Also, for anyone interested, check out Robinhood. Runs on Android and iOS, amazing clean app and very good for beginners. Fees are just $6.95 per trade I believe and they only allow you to trade on settled cash. Helps to mitigate some risk if you don't know what you are doing.

rsot and unknown What do you guys think about scottrade for beginners?

[rsot]

Scottrade works but I am not sure if price scheme is the best compared to TD Ameritrade

[Hoanandonly]

7 dollars compare to 10 dollars I think. I always thought TDA was always for more experience investors

[unkown5454]

Scottrade has frequently been rated as one of the worst. They are just masters of mass advertising. Honestly, I would recommend TD Ameritrade no matter what your level of experience. The tools they have for traders is incredible and blows every one else out of the water. Now, if you have Bank of America, look into trying Merrill Edge. It links with your BOA account, trades are also $6.95 and you can instantly transfer money from your bank account. TD offers similar functions if you have a TD bank account. And both Merrill and TD Ameritrade will let you trade in pre-market and after hours, once you get more experienced and understand the additional risks. Not all brokerages allow this.

[Hoanandonly]

Originally Posted by unkown5454

Scottrade has frequently been rated as one of the worst. They are just masters of mass advertising. Honestly, I would recommend TD Ameritrade no matter what your level of experience. The tools they have for traders is incredible and blows every one else out of the water. Now, if you have Bank of America, look into trying Merrill Edge. It links with your BOA account, trades are also $6.95 and you can instantly transfer money from your bank account. TD offers similar functions if you have a TD bank account. And both Merrill and TD Ameritrade will let you trade in pre-market and after hours, once you get more experienced and understand the additional risks. Not all brokerages allow this.

Isn't 10 dollars expensive for TD ameritrade, I have heard their platform is the best out of the rest.

[unkown5454]

Originally Posted by Hoanandonly

Isn't 10 dollars expensive for TD ameritrade, I have heard their platform is the best out of the rest.

It's $10 flat...where as some brokerages will charge a fee plus huge commissions for large volume orders. This becomes a massive setback when you start to invest more. Plus, TD gives you 500 trades for free when you sign up which is incredible.

[rsot]

Originally Posted by Hoanandonly

Isn't 10 dollars expensive for TD ameritrade, I have heard their platform is the best out of the rest.

It is quite the best and quite easy to work with