Opened My First Brokerage Account Today | TigerDroppings.com

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Smalls
LSU Fan
The South
Member since Jul 2009
2517 posts

Opened My First Brokerage Account Today


Opened my first brokerage account today. Decided to use Trade King. Any solid advice for a novice investor? I'm looking for more action than simply index funds. I may dabble in basic options, some day trading, etc. I can comfortably start investing with 5k or less.

I'm pretty stoked, btw.

TIA.







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Vols&Shaft83
Tennessee Fan
Member since Dec 2012
8876 posts

re: Opened My First Brokerage Account Today


Day trading? You're killing me Smalls





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I Love Bama
Alabama Fan
Alabama
Member since Nov 2007
31327 posts

re: Opened My First Brokerage Account Today


Lol. Save yourself the time and just give it away





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Smalls
LSU Fan
The South
Member since Jul 2009
2517 posts

re: Opened My First Brokerage Account Today


Hey, if I throw 5k at something and make more than my transaction cost, I'll sell it and move on...





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Vols&Shaft83
Tennessee Fan
Member since Dec 2012
8876 posts

re: Opened My First Brokerage Account Today






now that is funny






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roguetiger15
USA Fan
Member since Jan 2013
1598 posts

re: Opened My First Brokerage Account Today


Short an uncovered put. I dare u





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ThaBigFella
LSU Fan
baton rouge
Member since Apr 2006
2043 posts

re: Opened My First Brokerage Account Today


hey dont listen to these guys, we've all gotta start somewhere man. You have to know your risk tolerance. If the $5K means alot to you then buy an index and be safe if it is nothing to you then play with the market and practice your day trading and by that I mean if you wanna learn to day trade then learn with your $5k dont listen to people....trades are $9.99 at etrade so on $5K its under 1% of the transaction

I'd suggest picking a stock with low volatility that you wouldn't mind holding if the price went down. Lets say Exxon, buy your 55 shares of it and if it pops $1 sell it and youll clear $45 not much but you'll learn the premises

Index funds are great but I personally dont do them, Id rather buy and hold specific blue chips but its your call, good luck to you and I hope you learn alot and make a lot of money.

Odds are you're gonna lose some money, but hey once you get it down, you're gonna be on the right path man so don't get down if you lose a little remember you're getting in literally at the top the market hit 15,000 today

and dear god avoid options and margin until you know what the hell is going on.....that i beg of you



This post was edited on 5/3 at 8:33 pm


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Smalls
LSU Fan
The South
Member since Jul 2009
2517 posts

re: Opened My First Brokerage Account Today


Obviously, I know I'm going to win some and lose some. For me, I want to learn, have fun with it, and hopefully win more than I lose.







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tokenBoiler
Purdue Fan
Lafayette, Indiana
Member since Aug 2012
330 posts

re: Opened My First Brokerage Account Today


quote:

Short an uncovered put. I dare u


Cash-covered puts are no real problem. Short a few calls naked and see what happens.






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roguetiger15
USA Fan
Member since Jan 2013
1598 posts

re: Opened My First Brokerage Account Today


Keep in mind tax rates for short term investment income





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roguetiger15
USA Fan
Member since Jan 2013
1598 posts

re: Opened My First Brokerage Account Today


(no message)


This post was edited on 5/3 at 9:48 pm


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jso0003
Auburn Fan
Birmingham/Atlanta
Member since Jun 2009
4692 posts

re: Opened My First Brokerage Account Today


quote:

trades are $9.99 at etrade so on $5K its under 1% of the transaction


Yea... but you gotta sell it too, so $20.






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Smalls
LSU Fan
The South
Member since Jul 2009
2517 posts

re: Opened My First Brokerage Account Today


Trade King is 4.95 per trade. They seemed to be the lowest.





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