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Kinda scared posting this

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Veteran
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Joined: Apr, 2007
Posts: 1555
Posted: #1
because I really don't wanna come across as a complete newb,idiot, but I'm swallowing my pride and here I go.
First off, I just found out covers has an investments forum. I'm a huge fan of covers and have been using it for years for not only tips but entertainment.
Here's my situation:
I have ab out 7500.00 that I'd like to invest in the investment game.  I DON"T have an online account.  I don't have a broker, and I don't even have any friends to pick the brains of.
I'm basically a software programmer who has always wanted to learn about investing and have procrastinated until now.  Now that I know I can hang in this forum and read all the begining tutorials and advice, I'm ready to begin.
My question is:
If you were in my shoes....
What steps would you take?
Where should I set up an account?
What links should I begin with?
Any and all advice greatly appreciated.
I'm looking forward to learning as much about this as possible.
 
MVP
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Joined: Oct, 2005
Posts: 16136
Posted: #2
I think scottrade is the best
 
Captain
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Joined: Oct, 2005
Posts: 8951
Posted: #3
Trade forex
 
 
Covers Linesmen
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Joined: Feb, 2003
Posts: 56849
Posted: #4
Quote Originally Posted by bucknuts:

Trade forex
 




Hat is right, if a Scottrade is near to where you live, open a local acct there. Commish rates are lower and you have the office to go into and get checks cuts and make deposits, ask questions etc.
 
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Posted: #5
Getting ready to open an account.  There's a few office all around where I live in Tampa.  Do you any of you have a promotion code or referal code or anything like that, that you would like me to enter....Figured I'd ask.
 
Covers Linesmen
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Posted: #6
There are "free trade" codes that you can enter when opening an account where if someone referred you they get free trades.

If you want to do that with whereismyhat, you can exchange info I guess in PM-land, I have never worried about getting promo bonuses from giving info here..especially since being a moderator.
 
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Posted: #7
WoW. Scottrade just rejected me based on my credit score.
That's a bummer.  wtf?
 
Covers Linesmen
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Posted: #8
Really?

Never heard of that.

Walk into a local office and talk to a branch manager..
 
Legend
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Joined: Dec, 2001
Posts: 85256
Posted: #9
been using TD Ameritrade for years and I think they are the best online firm for their trading platform and service. $9.99 per trade may be slightly higher that some of the "bare bones" firms like Scottrade and Fidelity BUT thats for any size or type order and any priced stock, even "pennies" that are trading under a dollar.
 
was just talkig to one of their brokers and right now they have a 500 free trades for the first 30 days new account promotion which is for any amount so your $7500 would qualify.
 
 
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Posted: #10
Thanks I'll check it out
 
Veteran
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Joined: Sep, 2003
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Posted: #11
Quote Originally Posted by HonLi:

WoW. Scottrade just rejected me based on my credit score.
That's a bummer.  wtf?

don't try and open a margin account, cash only

 
Legend
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Joined: Dec, 2001
Posts: 85256
Posted: #12
TD Ameirtrade will open a margin account with $7500. you just have to maintain a minimum equity of $2000
 
(and NO I don't work for them, I just think they are the best in the business)
 
Veteran
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Joined: Apr, 2000
Posts: 3167
Posted: #13
bet on football and triple it this season
 
Veteran
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Joined: Dec, 2006
Posts: 2910
Posted: #14
Just open a cash account with Scottrade....or wherever...certainly just starting out you do NOT want to use a margin account...no way.GL
And one more thing,scale into any positions you take...I would also buy a copy of Reminiscences of a Stock Operator simply because it is a hell of a read.


 
 
Banned
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Joined: Jun, 2009
Posts: 585
Posted: #15
Ameritrade or really wherever. If u are young, invest aggressively & even today if I were old I would still be fairly aggressive cuz the market is too unpredictable & u dont have time to wait. Choose some mutual funds and about 3 stocks...
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