Can you make money scottrade

Do NOT make a post asking for advice, that belongs as a comment in the "Daily advice thread". Keep discussions civil, informative and polite. Off topic comments, attacks or insults will not be tolerated. Strictly no promotional threads. Do not post your app, tool, blog, event, etc. A hedge fund analyst explains his stock research process. Full of excellent links to videos, articles, and books. Just opened a Scottrade account. I've never invested before. I'm a 21 year old guy and I've been saving my money ever since I could work age I'm in a position where I want to start investing so I opened a Scottrade account.

I started doing some reading to gain more insight to the market and trends, but advice from real-people is always good. The second point is a good one. Index funds and and ETFs are what IRA's and k s are for. If this guy is attempting to do this for retirementsafe is a good idea, but if this is just an account to take some risk with, I say to do individual stocks!

Around half of my money is in ETFs that I bought in the past couple years and mutual funds that I bought prior to thatand in no way is it "boring". There are a lot of ETFs for a variety of market sectors, but I guess by "boring" I meant the ones that are the most diversified that are generally advised to be the core of a retirement account: When I first started trading, I heard a lot of the same advice given in this thread.

Some of this advice I learned the hard way. Others I found to simply be irrelevant or not true. Granted, I'm no "Wall Street Pro", this is what I have learned. Individual stocks represent a LOT of individual risk compared to If you are not willing to put in the time to research and learn about a specific company learning their fundamentals and technical positionsI would stick with an ETF like SPY recommended by Cyde Ways, see his post why.

You can read his book "One Up on Wallstreet.

Lynch champions a very simplistic fundamental approach to investing in stocks and provides plenty of examples of how this can net you a "ten-bagger. Just keep this in mind. Wall Street isn't as dumb as the book makes it out to be.

I cannot emphasize how different trading with real money is compared to "trading on paper. Trading on paper does not help you build and get used to this. You may do very well on paper, but I guarantee you will get trounced in the real markets if you can't control your emotions. However, given that; your profile is that of someone who is young and starting out with a small amount. In general, you should be able to take on a lot more risk than Any losses you take today will be more easily absorbed because your losses will relatively be small because you are starting out with a small amount and you have time on your side.

As you grow older, start cutting back on the risk depending on your needs. Don't forget you face that same commission fee on the other end when you're selling as well. Scottrade isn't any worse here than other investing services in this regard, either. Actually it's a lot better than many. Any more than that and you'll be getting eaten alive by commission fees. Since you only get one investment, I'll recommend SPY.

Very low expense fees, a broad market to track, and the risk is substantially lower than if you bought any one individual stock. Keep putting more money into the stock market, and in the mean time, play investing with some paper money from those sites that allow you to make fake investments.

That'll get you some good experience with how much you can realistically gain or lose. Pick something you can see appreciating over time, or if you think its particularly undervalued.

Before you even enter a trade, you have to know that there is SOME POINT where you were clearly wrong about its direction, and thats the time to go home poorer but wiser.

Determining again, before you enter the trade how much "wiggle room" you want to give and when you need to get off the ride. If you are not sure what the differences are, then I recommend reading up on it. The over-simplistic tl;dr is that investing does not involve selling whereas trading does, but again, it would be best to read more about it first.

Typically, people who go to places like Scottrade are interested in learning to trade rather than invest. And if that's true, then the rest of the advice in the thread will apply. Last but not least, can you tell us what the rest of your portfolio looks like?

For example, if you don't have an emergency fund, I would cash that out and put it in a high interest online bank account instead. Invest with the mentality that you are building forex markt nachrichten army every dollar is a soldier to protect your estate. Every soldier trained invested early on will gain more experience than a fresh recruit trained a month before you retire.

The money you plug away in your 20s will represent your senior officers as they will be responsible for building more troops for you. These dollar are THE MOST CRUCIAL to your retirement because of the time value of money. Early dollars grow more. As for the whole which stocks to buy and when to sell, I can only recommend what I tell my close friends. Day trading is not something the lay person should get into. More problems than it's worth.

Instead take a buy and hold can you make money scottrade. The shortest time period for holding stocks is one year for me. I invest for the long haul. Do not chase the flash in the pan growth tips and when your 60 and you do not want to work another day in your life, caterpillar employee stock options personal army will take care of you.

At this point, it doesn't really matter what you invest in, because your savings rate should be much higher than your investment returns. I'd recommend buying individual stocks vs. Buy companies you know, use, and like. Hold them for a long time. AAPL, MSFT, NFLX, KO, PEP, CL, PG, your local utility company, YUM, F. Take a look at these, and decide if you like any of them. Just chipping in here, so it sinks in Commissions will eat your gains. You can 'practice' with no money at all, you can create virtual portfolios on any of a number of investing sites, see what works for you, and trade for real when you get a little more cash into your Scottrade account.

Do people actually make money in scottrade? | Yahoo Answers

Edit, I'm echoing others' comments with the 'Be Patient, Don't Panic' as well. It's good enough advice to say twice. Honestly, don't go for day trading, buying and selling stocks to profit on their increases or decreases. The fee's will reduce your profit margin to nothing, if not throw you negative.

I probably would stay away from stocks in general, but if you are really focused on those, then buy a varied array of stocks, create a diversified portfolio of stocks you think will appreciate in value over time, and let it sit until you hit your target.

I just opened a Scottrade account in July and so far I'm enjoying it. Here's a few things I've learned since then. I run an investing website Investment Underground. We have tons of well researched ideas that can make you money, if you want to check it out. It's all free, reliable and lowrisk kind of stuff I started investing for the first time 2 months ago. Somehow I saw the best option for me was to invest in penny stocks.

This is my graph of earnings and losses can you make money scottrade 2 months http: Do your research until you are absolutely positive on your decisions. Don't get hargreaves lansdown buy us shares by the money like I did and start buying anything.

Research and understanding while developing your own techniques will become your strength. Penny Stocks may seem fun and a quick way to get money, but they tend to fail 5 times as much as they succeed. I keep hearing people talk about fees and comissions.

I opened an account with wells fargo and they give me free trades a year. It's been 5 months and I've used less than Honestly, if you have less than that, you probably shouldn't be playing around in the stock market. I would stay away. I invested back in and im about even. If you must, then try a dividend paying ETF. Risk is spread out between the individual stocks, dividend paying stocks are some of the safest stocks, and ETF's have some of the lowest expenses.

I'll just leave this here. Buy GTAA ETF which is supposed to be available for trading on Tuesday and VQT ETF. These are buy world series of poker money maker hold ETFs.

Selling too early is better than selling too late. Also, dont let your emotions take control. You must be clod-blooded! Use of this site constitutes acceptance of our User Agreement and Privacy Policy. By signing up, you agree to our Terms and that you have read our Privacy Policy and Content Policy. Log in or sign up in seconds. Submit a new text post. Discuss news items relevant to investors 2. Share investment ideas and insights 3. WSJ guide on how to pick a financial planner Why we recommend Vanguard Compare brokers.

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Given that index fund returns will likely be higher, I'm thinking of taking the loan and investing the money. Is there a downside I'm not thinking of? I have a account for trading stocks i choose, should I also get a Roth IRA? This is an archived post.

You won't be able to vote or comment. So reddit, what tips or advice do you have for someone in my position? DON'T PANIC Buy high, sell low. I have a kand it's boring.

That's not what my Scottrade account is for! Over the long term, I mean. First, the parts you should listen to: Stay away from day trading. Those fees will eat you alive like the others have said. Index funds and ETFs are better to invest in than individual stocks.

With the small amount you have, it would be hard to diversify except with an ETF. Know what type of trader you are and how much risk you can tolerate. This is very important, but will take time and experience trading for you to understand this. Stocks change value all the time. You could be easily enticed into "dumping" a stock or "buying" a stock because of price action in one day.

While some investors make a lot of profits from short term trading, most make money in the long term trends. If you want to get more active in your trading strategy start reading books and scouring for information on the web with one caveat in mind: It takes time to be able to separate the "noise" from the information that truly matters.

For example, while it's fine to read sites like the Motley Fool or Seeking Alpha, take the advice with a grain of salt. It's information that is good to know, but do your own homework. Advice you probably should stay away from: If you are not willing to put in the time to research and learn about a specific company learning their fundamentals and technical positionsI would stick with an ETF like SPY recommended by Cyde Ways, see his post why "buy what you know" - This idea was championed by Peter Lynch and his famous fund.

Are you interested in INVESTING or TRADING? Early dollars grow more As for the whole which stocks to buy and when to sell, I can only recommend what I tell my close friends. You can also try going with options trading, which is generally a bit lower risk.

How to Get Started Investing in Index Funds - The Simple Dollar

As others have said, don't over trade! Personally, I found stocks addicting.

Trading, Investing & Retirement | Scottrade

At that point I realized I needed to stop and just trade with what I have. That's not too bad. Read alot, but keep in mind people are almost always trying to sell you things. If somebody is talking up how well a stock is doing that's probably because they just bought alot and now want you do to the same.

This is especially true of penny stocks. Never trade money you can't afford to lose. If you do go the EFT route, stay away from multiple leveraged index EFTs. Not only do they suffer decay but you can lose alot of money quickly. If you know people who are looking for an account then use them as a referral.

You'll get free trades that way. Sorry, but I have to plug this.

If anybody is looking to start a Scottrade account PM me or the OP for a referral. Sorry again for the semi-spam I like reading HotStockMarket Forums. It's a pretty good group of people and they have a sections for education. It's a great place to learn and ask questions. Posts are automatically archived after 6 months.