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ETrade?

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gnarnia.
Posts: 1346 - Karma: 55
I have a pretty good financial background, and I'm interested in getting into owning some stock. Has anyone used eTrade? Do they hammer you for fees or anything like that? I plan on starting with about $1000 and spreading it over 15 or so companies. I know which companies I want to invest in, I'm not looking for help there, just on people's experiences with the site itself, or if they have anything better besides seeing a financial advisor.
Feb 25 2013 5:32PM
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SurfaceHoar
Posts: 311 - Karma: 240
1k isn't enough. The fees will kill you.

If you plan on just getting in an holding forever, they you'll be ok. But if you plan on making trades regularly, anything you gain will go to etrade. You'll take all the risk and they will win regardless. Also no chance you will be able to spread 1k around.

Last time i checked etrade was $10 per trade, so 10 to get in, 10 to get out. So from 1k you'll need at least a 2% gain just to cover your fees.

to actually trade you need at least 10k and leverage.

Feb 25 2013 5:40PM
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SkiBum.
Posts: 3600 - Karma: 3,909
You know, how I know, you know nothing about what you are doing?

Because you are trying to buy stock, in 15 companies, with $1,000.
Feb 25 2013 5:43PM
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2_fadez
Posts: 7780 - Karma: 4,183
Ok, I decided to do this earlier this year for the first time because I got sick of having 10 grand sit on a .06% interest for a year in the bank. Too much money to get too little out of it.

Don't do ETrade. They are just popular because of advertising. Do Fidelity instead. Much cheaper and an easier trade-program. Also much more respected.

A grand isn't enough to spread over companies. Since every buy/sell you make is $7 each, idk how the hell you plan to spread that over 15 companies and still make a profit. Whatever.

But, I did just invest 1 grand in a company starting 1/17 that I liked the looks of
Sold it on 2/22 after the company was sold to someone else for $1300. So 300 profit in about of month of doing nothing. Just for instinct and research on it being underpriced.
Feb 25 2013 5:48PM
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Lt-Aldo-Raine
Posts: 2309 - Karma: 120
I would like to know what companies you plan on investing in.
Feb 25 2013 5:54PM
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stickski
Posts: 1938 - Karma: 1,529
so that all the self proclaimed financial experts of ns can rip him apart regardless of his choices? I'd take the good advice in this thread and bail.
Feb 25 2013 6:14PM
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BrewskiJr
Posts: 5738 - Karma: 1,478
this.
Feb 25 2013 6:15PM
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accualyisdolan
Posts: 3295 - Karma: -192
Leverage is for jackasses
Feb 25 2013 6:17PM
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*ninja*
Posts: 2108 - Karma: 1,143
i have 50$ in etrade haha sitting theyr doing nothing its just chilling there
Feb 25 2013 6:18PM
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gnarnia.
Posts: 1346 - Karma: 55
I never claimed i was a fucking expert, if i was i certainly wouldnt be searching for advice on a skiing website. I've never dealt with stocks ever before, and thanks for the advice regarding fidelity, ill look into that. I'm not looking to hit a home run, even though that would be great, I just want to get my feet wet.
Feb 25 2013 6:21PM
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accualyisdolan
Posts: 3295 - Karma: -192
I'd go with think or swim btw. It's by far the best
Feb 25 2013 6:22PM
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skiminnesota
Posts: 9093 - Karma: 429
if you want to get your shirt handed too you try trading options. much better leverage since you only have 1k to play with. that said you will lose. hahaha
Feb 25 2013 6:25PM
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accualyisdolan
Posts: 3295 - Karma: -192
Just because this is a ski website doesn't mean we're stupid. Zerohedge is too boring for me
Feb 25 2013 6:37PM
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