Wher to buy stocks in the USA without exorbitant fees or minimum deposit requirement?

Discussion in 'Computer Support' started by Arawak, Dec 23, 2005.

  1. Arawak

    Arawak Guest

    I'm curious about the Jim Cramer CNBC show Mad Money and feel like
    becomming a new millionaire for the new year, so...
    I want to buy some recommended stocks. Which is best brokerage company
    that allows purchase of small amounts of shares <100 without requiring
    a major deposit to open an account and which has a fairly small fee
    for purchases?
    Thanks,
    Arawak
     
    Arawak, Dec 23, 2005
    #1
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  2. Arawak

    Plato Guest

    You will only help others become richer.
     
    Plato, Dec 23, 2005
    #2
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  3. Arawak

    Toolman Tim Guest

    In Plato spewed forth:
    Maybe he can just distribute that extra wealth between you and me directly.
    Why waste time with a middleman?
     
    Toolman Tim, Dec 23, 2005
    #3
  4. Maybe take a look at Scottrade. But Plato's advice is pretty much spot
    on. You're betting that you know more and you are luckier than the
    gazillion market professionals who want to lighten your load. Some of
    the very brightest and most experienced people in the business world are
    who you're playing against.

    But if you take the plunge, DON'T trade on margin, don't do options.
    These are tools that can help you get rich much quicker than the usual
    stock trades. But they are much more likely to help you go bust in
    record time. Wait until you are not only experienced but fantastically
    successful before using leveraged investments.
     
    =?ISO-8859-1?Q?R=F4g=EAr?=, Dec 23, 2005
    #4
  5. Arawak

    philo Guest


    Your own bank should have a low-fee brokerage service...If not ...get a new
    bank. My
    bank charges very small fees. (A bit under 1%)
    OTOH: *DO NOT* expect to become rich. You also need to have a *very*
    strong 'stomach' for these things.

    The biggest mistake people make (and I know from experience) is panicking
    and selling the stock when it goes down
    considerably. You need to have enough guts to ride that out...as that's the
    best time to buy. If you cannot afford to
    loose $20k overnight...or don't think you can hold on when stuff like that
    happens...
    be smart and do the safe thing...buy a savings certificate or insured bond
    of some type.

    Oh...one lst thing...those so called recommened stocks are usually pretty
    useless...You need to watch
    the market for years to learn the trends...and event then you need a lot of
    patience to make any real money.
     
    philo, Dec 23, 2005
    #5
  6. Arawak

    Arawak Guest

    Thanks for the advise.
    I've actually just made a little over 120,000 in the past 6 months by
    making the right calculated choices within my 401k plan so I do
    believe I am in a better position than most who are just gambling
    willy nilly. I only bet what I am able to loose. Right now, that is
    all the $$$ I have put aside for cartons of cigarettes I would have
    purchased over the past year since I stopped smoking cigarettes. That
    is money which was contributing to killing me and now I feel good
    about using it in stock market. I suspect most of the nay sayers here
    are less concerned with my being successful than with their
    disappointment at not having made better decisions themselves.
    I am definitely open to hearing about any other concrete suggestions
    on better ways to make more money.
    I am in Scottsdale, Arizona there almost every bit of real estate has
    climbed over 30%. My crappy little $42,000 flight attendant crash pad
    is now valued at $175,000 and I have finally gotten around last month
    to refinance it from 8% (30yr) to 5.98% (15yr) with a mortgage payment
    of $298.00 for the $32,000 balance and at the same time gotten
    appreoved for a $50,000 equity line of credit which I have absolutely
    no plans of tapping unless we get a Katrina here in Scottsdale.
    My point is, after declaring bankrupsy 12 years ago when I was
    overwhelmed by medical bills due to my father's illness and subsiquent
    death, I am not about to make very many stupid mistakes....again, but
    that doesn't mean I am not willing to take a few chances with some of
    what I can finally consider to be disposable income. At 50, I'm no
    longer partying like there isn't a tomorrow and I don't drink...ok,
    well maybe a couple of beers and a bottle of wine a year, and with
    such a miniscule mortgage payment, I thin I am now saving a lot more
    than the average american, especially since I also have no dependents
    and have given up on dating any other human being (most are just too
    discouraging, mean spirited and just grinches or over zelous
    evangelists for my personal liking, even though in their minds I am
    certain they believe they are happy and content).
    Whew! I need to start me a blog to get soime of this crap off my
    chest. Thanks for taking the time to read and happy new year.
    Cheers,
    Arawak
    (one of the newer immigrants who don't realize yet that it is all
    imposible).
     
    Arawak, Dec 23, 2005
    #6
  7. Arawak

    Arawak Guest

    Thanks. I'll check with my bank.
    BTW, the getting rich part of my message was "tongue-in-cheek".
    I'm fairly intellectual and realize that being "rich" is completely
    "subjective". I am already rich in many ways and compared to the
    majority of the citizens from the country where I was born, I'm a
    virtual millionaire.
    What "I" mean my "rich" is just to be comfortable in retirement and
    not dependent on government hand-outs and to be able to use my airline
    retirement lifetime travel benefits to continue to see the world by
    making one or two trips to other countries and adding to my current
    repertoire of 5 languages.
    BTW, I did loose over $150K during the last crash a few years ago and
    just cut my losses using advise from Suze Orman and now I am almost
    back to where I was when that happened. This time I don't plan on
    being that deer in the headlights.
    Cheers
    Arawak
     
    Arawak, Dec 23, 2005
    #7
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