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I'm an idiot. How do I buy stocks?

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I'm an idiot. How do I buy stocks?
Old October 15th, 2008, 08:13 PM   #1
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I'm an idiot. How do I buy stocks?

OK, I have never played in the stock market at all. I want to buy a few shares of GM while its worth dirt, just in case they come back. Nothing major, maybe a grands worth. Whats the easiest way for me to do this? I have heard places like E trade and what not, but I'm truly clueless to this type of thing.
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Old October 15th, 2008, 08:22 PM   #2
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Originally Posted by turbosam6 View Post
OK, I have never played in the stock market at all. I want to buy a few shares of GM while its worth dirt, just in case they come back. Nothing major, maybe a grands worth. Whats the easiest way for me to do this? I have heard places like E trade and what not, but I'm truly clueless to this type of thing.

You sound like me a week ago. My brother plays in the stockmarket and he uses Scottrade. So I signed up and plan on getting some GM stock. If you decide to use scottrade pm me and we can use the referral plan and we will both get 7 free trades.

You just sign up, contact the office closest to you and send them money. Once they receive it your ready to go the next day
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Old October 15th, 2008, 08:26 PM   #3
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Originally Posted by turbosam6 View Post
OK, I have never played in the stock market at all. I want to buy a few shares of GM while its worth dirt, just in case they come back. Nothing major, maybe a grands worth. Whats the easiest way for me to do this? I have heard places like E trade and what not, but I'm truly clueless to this type of thing.
Are you crazy? Go bury it in your backyard and don't dig it up until NoMan says it's safe.
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Old October 15th, 2008, 08:26 PM   #4
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The user interface for Scottrade sucks ass. The Etrade one is much better, but it takes like 5 business days for your deposit to kick in, even though the money is sucked out of your account with 1 day. Scottrade offers cheaper trades. Etrade is like double. I find the Etrade interface more user friendly.
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Old October 15th, 2008, 08:30 PM   #5
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Always had great luck with Schwab. Like their trading platform & I wire transfer $$ directly from my bank account.
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Old October 15th, 2008, 08:36 PM   #6
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Are you crazy? Go bury it in your backyard and don't dig it up until NoMan says it's safe.

I couldnt help myself. I had to give it a whirl. Just on one if my account had been established a day earlier I could have made some nice coin on Morgan Stanley. I saw the investment deal and it went from $18 to $22. I have no idea what I'm doing but it should be fun!!

I feel GM is going to go up. With the new Camaro coming out and the talk of the merger?? But it will go back down i'm sure so you will have to be quick.

I am not being stupid about it. I'm treating it like a fun weekend at Vegas. Setting aside, "fun money" to play with and nothing more.
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Old October 15th, 2008, 08:40 PM   #7
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That's a good way to look at it. Good Luck!
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Old October 15th, 2008, 08:57 PM   #8
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Always had great luck with Schwab. Like their trading platform & I wire transfer $$ directly from my bank account.
That is why I chose scottrade, they had a local branch where I could take money fast if I needed to.
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Old October 15th, 2008, 09:12 PM   #9
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Does Scottrade require a minimum balance/investment to start?
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Old October 15th, 2008, 09:16 PM   #10
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Does Scottrade require a minimum balance/investment to start?

$500
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Old October 15th, 2008, 09:35 PM   #11
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$500
That is enough to make you the majority stockholder for GM.
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Old October 15th, 2008, 09:42 PM   #12
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Does anyone have an opinion on TDAmeritrade?
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Old October 15th, 2008, 11:34 PM   #13
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I've been looking at several companies as well. Insight is appreciated. Any tips on hot stocks right now? DNA, INSM and ASTM seem to be doing well, even Coke is gaining a bit...
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Old October 15th, 2008, 11:57 PM   #14
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That is enough to make you the majority stockholder for GM.

LOL...

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Old October 16th, 2008, 01:13 AM   #15
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Etrade real deal and I have about 97K in my account as I type...

Deposit money request submitted. Their response, you must verify funds, 2-3 business days with two small deposits. Then you transfer money, tkaes 2-3 business days. Money is then deposited on paper, yet it doesn't roll. The REAL deal is after two days it will show as added, but it really isn't added, but verified. On day 3 it transfers, but you STILL cant use it. It has to sit 3 or is it 4 MORE business days before you can play with it. So expect 10 days of lagggggg and I know, I just did three transfers into my account. Also, if you have a lot of loot, do not do the normal sweep. Use the CA muni funds paying over 3% and it is also FDIC up till 250K, but it is buried in there. Oh yes, and do not pull from savings, it has to be from checking generally or you get a $25 fee, but call and get it waived if you get charged. Remember, the fastest way to double your money is fold it in half.

PS: I would NOT buy unless you have a HUGE risk tolerance. I think the DJIA will hit 7200, but what do I know.
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Now that the prices of virtually everything are going up and up and now that thousands of people are losing their jobs everyday as the US goverment still hands out 10,000+ checks to those people just getting off the boat, I think I will take a boat ride and get in line, I sure could use the money to pay for the gas in my Viper and GTO!
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Old October 16th, 2008, 01:42 AM   #16
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Quote:
Originally Posted by 04mystic View Post
I couldnt help myself. I had to give it a whirl. Just on one if my account had been established a day earlier I could have made some nice coin on Morgan Stanley. I saw the investment deal and it went from $18 to $22. I have no idea what I'm doing but it should be fun!!

I feel GM is going to go up. With the new Camaro coming out and the talk of the merger?? But it will go back down i'm sure so you will have to be quick.

I am not being stupid about it. I'm treating it like a fun weekend at Vegas. Setting aside, "fun money" to play with and nothing more.
Pssst. You didn't hear this from me, but smart money is buying up Eli Manning rookie cards! At least that's the word coming out of Southern California.
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Old October 16th, 2008, 01:47 AM   #17
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FYI 80-90% of day traders LOSE money, do NOT day trade for your own good. Hell I studied Capital Asset Pricing Modeling (CAPM) and the like at Wharton and I am a wiz at this shit, but invest long haul and now this is truly a crap shoot.
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