OK please dont flame away on me for asking these questions and my spelling because i am serious First i know nothing at all about stocks and bonds nothing , so i have started to read some things but still dont know or understand much
what i want to know is this ....if i want to invest like 20k in the market can i just go and buy 20k worth of stock and lets say in one months time they go up like 30 cents per shsre and i want to sell them just to make a small profit is it worthwhile to do this
i guess what im really trying to say is this , hell i gamble by picking teams so why not put up 20 k on something that most likely will go up even if its only a few cents its still a profit ., i mean is that a normal thing to do like buy the stock for said amount and as soon as it goes up even if its only a few cents u sell it and then just keep turning it over and over . I dont know if im making sense or not lol
im from the school that never really used banks , i know stupid , but i want to invest some cash i have just sitting around and am trying to figure out my best options and i dont just want to put it in like a 5 yr cd or something , any help would be greatly appreciated ty
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To remove first post, remove entire topic.
OK please dont flame away on me for asking these questions and my spelling because i am serious First i know nothing at all about stocks and bonds nothing , so i have started to read some things but still dont know or understand much
what i want to know is this ....if i want to invest like 20k in the market can i just go and buy 20k worth of stock and lets say in one months time they go up like 30 cents per shsre and i want to sell them just to make a small profit is it worthwhile to do this
i guess what im really trying to say is this , hell i gamble by picking teams so why not put up 20 k on something that most likely will go up even if its only a few cents its still a profit ., i mean is that a normal thing to do like buy the stock for said amount and as soon as it goes up even if its only a few cents u sell it and then just keep turning it over and over . I dont know if im making sense or not lol
im from the school that never really used banks , i know stupid , but i want to invest some cash i have just sitting around and am trying to figure out my best options and i dont just want to put it in like a 5 yr cd or something , any help would be greatly appreciated ty
This part of the site there is no need for flaming, this is where traders and investors ask questions and learn from each other.
Every question is welcome.
And to answer the question, you can sell a stock 5 minutes after you buy it if you want and it has made you the profit you are looking for. There are tax issues with capital gains, is that what you are asking?
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Angelo,
You wont get flamed in here.
This part of the site there is no need for flaming, this is where traders and investors ask questions and learn from each other.
Every question is welcome.
And to answer the question, you can sell a stock 5 minutes after you buy it if you want and it has made you the profit you are looking for. There are tax issues with capital gains, is that what you are asking?
basically wall i have an amount that im willing to play with (20k )and want to know where do i go and get this thing started. i mean do you just walk in a brokerage firm or watever and say hey i have 20k here and want to invest in some shares of stock ? and then i guess i should let them know that want to keep turning it over as soon as a profit (a reasonable one ) is attainable and then do the same thing again .
im talking about lets say even 4 - 5 hundred bucks profit then selling and rebuying right away ...thats why i figured if i start with 20 k and buy 20k worth that should be a nice amount of stock or shares depending what it is
what would u recomend i do ? ty
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basically wall i have an amount that im willing to play with (20k )and want to know where do i go and get this thing started. i mean do you just walk in a brokerage firm or watever and say hey i have 20k here and want to invest in some shares of stock ? and then i guess i should let them know that want to keep turning it over as soon as a profit (a reasonable one ) is attainable and then do the same thing again .
im talking about lets say even 4 - 5 hundred bucks profit then selling and rebuying right away ...thats why i figured if i start with 20 k and buy 20k worth that should be a nice amount of stock or shares depending what it is
I would suggest Scottrade..go to their website and see if there is a local office.
www.scottrade.com and find a local office. If there is one close to where you live, sign up online, print out the application and take the funds in there and fund.
If there isnt a location close by I would suggest Ameritrade..
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I would suggest Scottrade..go to their website and see if there is a local office.
www.scottrade.com and find a local office. If there is one close to where you live, sign up online, print out the application and take the funds in there and fund.
If there isnt a location close by I would suggest Ameritrade..
i wish this was alot easier ...there isnt any places in my immediate area (im like 45 min from phila , live in the burbs now
i have to really take the time and read up and look into this stuff
i guess if it w as that easy everyone would be doin it lol
i thought i could basically walk in a place and say here is 20k , i want to keep buying and selling even if i only make a few hundo at a time, just keep repeating the process every 10 days or so but i guess it dont work that way lol ....time to start reading
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i wish this was alot easier ...there isnt any places in my immediate area (im like 45 min from phila , live in the burbs now
i have to really take the time and read up and look into this stuff
i guess if it w as that easy everyone would be doin it lol
i thought i could basically walk in a place and say here is 20k , i want to keep buying and selling even if i only make a few hundo at a time, just keep repeating the process every 10 days or so but i guess it dont work that way lol ....time to start reading
There is a HUGE difference between "trading" and "investing." Trading is not nearly as easy as some may say, and the trade gains are taxed at 28%. You definitely need to get with a tax advisor on doing something like this. For someone unfamiliar with the stock market and its plethora of machinations, then investing is how you want to start. It's much easier to learn about something like the stock market with a very safe buy and hold strategy using money that is purely disposable.
But, if you insist on flipping these ticker symbols, you definitely want to use a discount broker.
If I were you, I'd stay out of the trading jungle and stick with basic investment fundamentals until you learn a substantial amount about how this market functions.
Cheers
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Angelo-
My opinion here, so take it for what it is.......
There is a HUGE difference between "trading" and "investing." Trading is not nearly as easy as some may say, and the trade gains are taxed at 28%. You definitely need to get with a tax advisor on doing something like this. For someone unfamiliar with the stock market and its plethora of machinations, then investing is how you want to start. It's much easier to learn about something like the stock market with a very safe buy and hold strategy using money that is purely disposable.
But, if you insist on flipping these ticker symbols, you definitely want to use a discount broker.
If I were you, I'd stay out of the trading jungle and stick with basic investment fundamentals until you learn a substantial amount about how this market functions.
you can invest/trade online with scottrade, ameritrade, etrade etc... and you can do this without ever talking to another human being. so you don't necesarily need a local branch. you can apply online, get accepted and fund within 30 minutes. then it will take about a week to be able to use your funds.
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also, to be clear...
you can invest/trade online with scottrade, ameritrade, etrade etc... and you can do this without ever talking to another human being. so you don't necesarily need a local branch. you can apply online, get accepted and fund within 30 minutes. then it will take about a week to be able to use your funds.
ty for that advice and i have come to the conclusion that i think u are correct and i need to learn the basics on this stuff or i will lose everything ....28 % tax jesus i try to avoid the tax man at all costs , maybe this aint for me , im gonna learn the fundamentals first but i hate just having this sit around and not even make like 5 % on it thx again
gunners
ty also yeah i have read that i can set up an account and just start trading away like making sportsbets in a way but i dont know eneough about what stocks and stuff to purchase . its amazing to think i can put this together in 30 min and be in the red after 1 dam day. i def must l;earn alot more ..... i remember when google first announced they were going public and you would be able to buy there stock so i got all excited and it was like 85 a share i think and i said fuck no , thats way to much lol
look at it now 6hun something , that shows how much i know
another time when gold was like 135 an oz a few yrs ago i was going to buy like 10k worth and didnt and look what it is now
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clay
ty for that advice and i have come to the conclusion that i think u are correct and i need to learn the basics on this stuff or i will lose everything ....28 % tax jesus i try to avoid the tax man at all costs , maybe this aint for me , im gonna learn the fundamentals first but i hate just having this sit around and not even make like 5 % on it thx again
gunners
ty also yeah i have read that i can set up an account and just start trading away like making sportsbets in a way but i dont know eneough about what stocks and stuff to purchase . its amazing to think i can put this together in 30 min and be in the red after 1 dam day. i def must l;earn alot more ..... i remember when google first announced they were going public and you would be able to buy there stock so i got all excited and it was like 85 a share i think and i said fuck no , thats way to much lol
look at it now 6hun something , that shows how much i know
another time when gold was like 135 an oz a few yrs ago i was going to buy like 10k worth and didnt and look what it is now
It's not that trade gains are taxed at 28%. Short-terms gains (Under 1 year) are taxed as ordinary income, just like your wages, this may be more or less than 28% depending on your marginal rate. But if you buy and hold for at least 1 year then you get long-term capital gains treatment (15%, sometimes 10%).
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It's not that trade gains are taxed at 28%. Short-terms gains (Under 1 year) are taxed as ordinary income, just like your wages, this may be more or less than 28% depending on your marginal rate. But if you buy and hold for at least 1 year then you get long-term capital gains treatment (15%, sometimes 10%).
Angelo, you can take this for what it is worth. I am a 27 year old public accountant, who leans more to the conservative side with most of my investments. I have money that I mess around with for gambling purposes, but the majority of my money I invest in the market.
What you are talking about sounds an awful lot like day-trading, and unless you know what you are doing, you will get your $hit handed to you. I have had friends who tried to do that, and without having a good technical understanding of the market, pretty much got wiped out. You obviously could get lucky, but it is not a smart risk.
If you are looking for the quick hit, you would do much better to do some research on options. Much more volatile than stocks, but if you know what you are doing, you could make some money.
My recommendation would be to spread your $20K in 5-10 good stocks, and watch it grow 10-12 % a year on average. If you want to, maybe take a % of your amount you are willing to risk, and put it in riskier stocks, but keep the majority in safer investments.
Or, if you really don't know anything about stocks, and don't have the time or patience for it, you can't go wrong sticking it in the Spider fund (SPY), a fund that pretty much mimics the S&P 500.
Anyways, just some advice. Also, if you end up going the way of the rapid turnover, I would check out the site Zecco. It has $0 trades. I don't trade enough to make it worthwhile (I use Scottrade and E-trade), but if you are making a bunch of trades a month, it could save you some dough.
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Angelo, you can take this for what it is worth. I am a 27 year old public accountant, who leans more to the conservative side with most of my investments. I have money that I mess around with for gambling purposes, but the majority of my money I invest in the market.
What you are talking about sounds an awful lot like day-trading, and unless you know what you are doing, you will get your $hit handed to you. I have had friends who tried to do that, and without having a good technical understanding of the market, pretty much got wiped out. You obviously could get lucky, but it is not a smart risk.
If you are looking for the quick hit, you would do much better to do some research on options. Much more volatile than stocks, but if you know what you are doing, you could make some money.
My recommendation would be to spread your $20K in 5-10 good stocks, and watch it grow 10-12 % a year on average. If you want to, maybe take a % of your amount you are willing to risk, and put it in riskier stocks, but keep the majority in safer investments.
Or, if you really don't know anything about stocks, and don't have the time or patience for it, you can't go wrong sticking it in the Spider fund (SPY), a fund that pretty much mimics the S&P 500.
Anyways, just some advice. Also, if you end up going the way of the rapid turnover, I would check out the site Zecco. It has $0 trades. I don't trade enough to make it worthwhile (I use Scottrade and E-trade), but if you are making a bunch of trades a month, it could save you some dough.
you make alot of sense , i have got to realize that i dont have the ability to take the time and really educate myself on how to do any of what yall have mentined. I hear all this talk of the market and investments and stuff and i would like to make some extra cash on the money at hand but i dont want to do anything foolish like get involved with something i know nothing about and get my ass handed to me .
i think maybe i will just break down and go buy a cd and at least make a few points on it till i decide how to invest it . thanks bro
i wish when i was younger i would of went to school and learn this stuff because it pays to know
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wake2002
you make alot of sense , i have got to realize that i dont have the ability to take the time and really educate myself on how to do any of what yall have mentined. I hear all this talk of the market and investments and stuff and i would like to make some extra cash on the money at hand but i dont want to do anything foolish like get involved with something i know nothing about and get my ass handed to me .
i think maybe i will just break down and go buy a cd and at least make a few points on it till i decide how to invest it . thanks bro
i wish when i was younger i would of went to school and learn this stuff because it pays to know
I would split the money into four 5 star mutual funds. You can go to morningstar.com. to research the funds and I would then open an account at TDameritrade and buy them there. I would go 25% international, 25% small cap, 25% aggressive growth and 25% blend. Stay away from front load funds and try to keep the expense ratio no higher than 1.25% on a 5 star fund. Morningstar will explain all of the above.
Best Wishes!
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I would split the money into four 5 star mutual funds. You can go to morningstar.com. to research the funds and I would then open an account at TDameritrade and buy them there. I would go 25% international, 25% small cap, 25% aggressive growth and 25% blend. Stay away from front load funds and try to keep the expense ratio no higher than 1.25% on a 5 star fund. Morningstar will explain all of the above.
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