Investment advice?

jerkit · 2006-02-08, 11:58 PM

I use to day trade a lot pre-2000, was actually going to be a broker, have all the required education.

Look into Schwab, I know back in the day if you opened an account and deposited over 20K you had no transaction fees for trading. That may have changed though. Personally now I just trade through my own bank/brokerage combination.

Also for novice investors I'll give a couple tips:

1) Don't try to time the market, just invest regular amounts at regular intervals to index funds or stocks which mirror the market. DIA, SPY, QQQQ mirror the Dow Jones Industrial Average, S & P 500 and the Nasdaq 100 respectively.

2) If you MUST try to time the market, this works 9/10 years.. buy tech in October, sell by March. Rinse and repeat.

3) If you see a big company go down in flames, wait.. wait.. and wait some more, there might be big profits to be made once things look like they're bottoming out.

4) Remember if all hope is lost, it's probably time to buy. And if everyone's ecstatic about the market, it's probably time to sell.

Personally I use to trade tech stocks as well as stock options.. lived for the volatility. Course, my personal accounts made a lot of $ off me in transaction fees, so my minimum trade size would be $2K.

Hope it helps!

2006-02-08, 11:58 PM	#7
jerkit WHO IS FONZY!?! Don't they teach you anything at school? Join Date: Jun 2005 Posts: 42	I use to day trade a lot pre-2000, was actually going to be a broker, have all the required education. Look into Schwab, I know back in the day if you opened an account and deposited over 20K you had no transaction fees for trading. That may have changed though. Personally now I just trade through my own bank/brokerage combination. Also for novice investors I'll give a couple tips: 1) Don't try to time the market, just invest regular amounts at regular intervals to index funds or stocks which mirror the market. DIA, SPY, QQQQ mirror the Dow Jones Industrial Average, S & P 500 and the Nasdaq 100 respectively. 2) If you MUST try to time the market, this works 9/10 years.. buy tech in October, sell by March. Rinse and repeat. 3) If you see a big company go down in flames, wait.. wait.. and wait some more, there might be big profits to be made once things look like they're bottoming out. 4) Remember if all hope is lost, it's probably time to buy. And if everyone's ecstatic about the market, it's probably time to sell. Personally I use to trade tech stocks as well as stock options.. lived for the volatility. Course, my personal accounts made a lot of $ off me in transaction fees, so my minimum trade size would be $2K. Hope it helps! __________________ Regards, Darryl Submit Free Sites at Jerk-It! (I try to do maximum 24-48 hour turnaround)