paperwork involved with getting started, what can i expect?
#21
10-13-2009, 01:18 PM
Most brokers only make money when you trade. If you buy or sell they make money so they encourage you to trade. Sometimes it is better to just hold what you have and ride it out. I just found out a stock that I sold some years ago is selling for about $190/share. I bought most of it at $19/share and sold at $28/share. It didn't pay dividends and sat at the same rate for about 2 years. Had I held on to the stock I would have a nice nest egg on the shares that I owned. Of course, it could have gone the other way.
But, times have changed, we made a few bucks on some cocoa and euro puts this am, hoping to make a few shekels on a silver short too. Looks like the markets are heading our way this morning. 
#22
10-13-2009, 01:43 PM
Some years ago I bought Apple on the advice of my then broker and promptly lost my shirt. I have been out of the market for some time. I have been giving some thought of jumping back in. The thing is that I tend to be an aggressive trader and get involved with investments which can be rather volatile, so I need to watch what is going on. It is difficult to do when you are on the road.
#23
10-13-2009, 01:56 PM
Some years ago I bought Apple on the advice of my then broker and promptly lost my shirt. I have been out of the market for some time. I have been giving some thought of jumping back in. The thing is that I tend to be an aggressive trader and get involved with investments which can be rather volatile, so I need to watch what is going on. It is difficult to do when you are on the road.
The broker that I found actually keeps me rather level headed and has all of the numbers in real time right in front of him. I like to be in and out, make a profit and move on. The strategy is working and paying the bills. But I will say, it can get rather nerve racking with the dollar the way it is right now. It is so over sold, that when it bounces back Katy bar the door. This will be an exciting next few weeks. Last edited by Justruckin; 10-13-2009 at 01:58 PM.
#24
10-13-2009, 04:30 PM
commodities/ futures trading is different than buying/selling stocks. when you involve options & strike prices, that is different from individual stock shares.
#25
10-13-2009, 08:25 PM
How did you lose on Apple, playing options?
That was about 20 years or so ago. I broke one of my rules and when the stock started to take a dive, I started trying to cover my loses by buying. It was a dumb move that my wife occasional still reminds me of. I had not done that previously. I usually have a buy and sell point in mind when I buy a stock. I relied on the broker to do what I had been doing. Let us just say that it was a very expensive reminder of why I do my own research and trade decisions. I don't expect to ever rely on a broker to advise me on any trade decisions. The broker that I found actually keeps me rather level headed and has all of the numbers in real time right in front of him. I like to be in and out, make a profit and move on. The strategy is working and paying the bills. But I will say, it can get rather nerve racking with the dollar the way it is right now. It is so over sold, that when it bounces back Katy bar the door. This will be an exciting next few weeks. I remember one day that Texaco had an 11 point rise in one day. This was around the time of the Pennzoil lawsuit. Unfortunately, I was unable to take advantage of it. It went up and then down in a matter of a few hours. It is one of those things where you had to be sitting there keeping a constant eye on the market in order to take advantage of it. I used to do a lot of options. The last time I was in the market I mostly bought the stocks. If it takes a dive then you have a better opportunity to recover your losses. I remember one stock that I traded about every week to 10 days. It would bottom out at about 12 3/4 and top out at around 16 3/4. It had this cycle for months until it finally broke the cycle and started a new one. I made a lot of money off of that stock. I used to do well with some of the otc stocks. They tend to be more volatile, but the profit potential is there to make much more than with the blue chips. Not everyone has the mindset to trade this way. I always had a stop loss on every trade. I always knew where I would buy and sell.
#26
10-13-2009, 09:47 PM
I remember one day that Texaco had an 11 point rise in one day. This was around the time of the Pennzoil lawsuit. Unfortunately, I was unable to take advantage of it. It went up and then down in a matter of a few hours. It is one of those things where you had to be sitting there keeping a constant eye on the market in order to take advantage of it.
I used to do a lot of options. The last time I was in the market I mostly bought the stocks. If it takes a dive then you have a better opportunity to recover your losses. I remember one stock that I traded about every week to 10 days. It would bottom out at about 12 3/4 and top out at around 16 3/4. It had this cycle for months until it finally broke the cycle and started a new one. I made a lot of money off of that stock. I used to do well with some of the otc stocks. They tend to be more volatile, but the profit potential is there to make much more than with the blue chips. Not everyone has the mindset to trade this way. I always had a stop loss on every trade. I always knew where I would buy and sell.
#27
10-14-2009, 02:03 AM
Playing the market can be a rush. It can also be nerve racking if you don't have the right mindset. Some people simply can't stand the pressure of a volatile market. You need to understand that you can't always make money in the short term. Sometimes you need to cut your losses to make money in the long term.
#28
10-14-2009, 09:19 AM
Playing the market can be a rush. It can also be nerve racking if you don't have the right mindset. Some people simply can't stand the pressure of a volatile market. You need to understand that you can't always make money in the short term. Sometimes you need to cut your losses to make money in the long term.
#29
10-15-2009, 04:22 AM
These brokers make money that's for sure. A lot more than I make with these trucks. My wife is a compliance analyst with a broker/dealer.
Telling me the other day some broker made 7K in one day not too long ago. Of course he did something I guess he wasn't supposed to and they cut his commission in half. Still $3500 in one day is not too bad that's for sure.
#30
10-15-2009, 02:37 PM
If brokers knew when to place trades, they would not be brokering. they would be successful traders. I pay almost $100.00 round trip in & out of a trade with a full commission broker on my commodities. the stocks I do on my own. my broker makes money by every order I place. so he likes when I do frequent orders. I like my full comm broker, cause he executes what I want, when I want, how I want. that is the purpose of a full brokerage firm, & the advantage.
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