eTrade

[RockbetJohn]

Personally I don't dabble into stocks n shit because I think it's gambling but less regulated than the gaming industry. I think more collusion goes on with stock trading than anything else.

So that is my stance right off the bat. I had a friend ask me what I thought about etrade. I really have nothing to say because I don't dabble in this stuff. For those that do any tips or advise? I do have a friend who buys stocks on etrade. That's as much as I know about it.

[TheGooner]

If you're going to trade shares via e-trade (or any other transaction only broker) then you need to put time into the process to do your own reading on stocks and shares.

One financial magazine I read recently suggested that the minimum amount of reading work for a direct investor was around 30 minutes each day, and a total of a 4-5 hours a week during these volitile times.

Remember that for each trade there is a winner and a loser depending on the direction of the share afterwards, and if you are trading on the market with fully informed professionals ... then which end of the trade do you think that you're likely to get?

(Isn't there a poker saying along the lines of ... if you look around the poker table and can't spot the fish - then it's you !! ... well this is even moreso with stocks and shares)

If you were not prepared to the groundwork then investing passively on the index or via mutual funds was considered appropriate if you really wanted in the "game" - although most advisors are hugely underweight on stocks right now and emphasising that "cash is king".

Punting on financial tips touted in forums is the surest way to get access to mis-information, and probably should be considered as damaging to your wealth.

[PTC]

There was a long-term statistical study that was in the Wallstreet Journal a few years ago. It basically showed that a portfolio of randomly chosen stocks will usually perform the same as anyone else's portfolio.

But I don't care. I just resurrected my old etrade account today because I'm thinking about buying some GM stock soon. I don't think I have used this account since I was in high school in the late 90's right around when etrade started. I did pretty good for a high school kid too.

[mickn888]

4/5 hours a week researching stocks will not beat the market. Most pros who spend 60 hours a week researching the market can't beat it! The best thing your friend should do, is stick it all in a tracker fund, and average into it.

Mike

[sl8r]

using eTrade is also good for opening an US bank account and get your comissions there...

[Jeremy]

If you really want to gamble I suggest opening up an online brokerage account, (I use Ameritrade) and take some positions in a few OTC or pink sheet stocks. Youc an swing up and down over 100% in one day.

I would never suggest these stocks as anything more than betting on red or black. But the volatility can make for a good rush. Especially when you can see your buy in the level 2's directly affecting the ask and the bid.

As far as the big boards, I lost more in the last 2 years than I care to divulge in the market. For a sound investment I'd rather be in the commodities or precious metals market. My old 401k mine as well be called a 104k.

[bonusbeast]

I think the best way to avoid "gambling" in the stock market, is to invest in Index Funds, don't put all your money in at once, and think long term. This eliminates most of the gambling. You have to watch trading stocks with brokers, especially with low amounts of money beacause the fees will eat up your profits.

[Randy Ray]

I use Etrade and think their service is terrific. The site is user-friendly, always up, and loads quickly.

[PTC]

I think the best way to avoid "gambling" in the stock market, is to invest in Index Funds, don't put all your money in at once, and think long term. This eliminates most of the gambling. You have to watch trading stocks with brokers, especially with low amounts of money beacause the fees will eat up your profits.

if you want to avoid gambling just buy US t-bills and hire someone who is familiar with options trading. Trading options and doing arbitrage can establish risk free no cost positions and be a great addition to the portfolio.