So I am thinking about investing, instead of pissing all the money in my account away. I hear so many people talking about penny stocks, and online stocks. So far I heard that there is between a $30-50 fee everytime you trade, buy and sell. Who are the best companys to look into. I plan on putting about 3000 into this so I want to know the best way to distribute the money. Should some be penny stocks and other larger? What do you all think…?
If you do not know what you are doing goto an investor…
so maybe he takes some of your profit but your chances are way better than trying it yourself.
if you know what you are doing just go charles schwab
x2
Or pick a mutual fund. Diversification is important and that’s hard to do with buying individual stocks with a relatively small amount of money. You spend too much on fees.
Pick a mutual fund(s) based on your age and goals. If you plan on keeping it in there for 20 years, then you can go with something riskier with more potential for growth (more stock weighted). Maybe mix it up with some international, blue chip, contra stocks. If you plan on taking it out in a relatively short time period, get something more stable but with smaller growth that’s weighted more towards bonds.
But this is coming from an engineer not a financial advisor.
x3
If you want to do online though, I’m pretty sure there are places cheaper than $30-$50 per trade. I used www.Etrade.com several years ago. There’s also www.sharebuilder.com.
Just don’t forget that there’s a high capital gains tax on short term investments.
I found the best way to make my money work for me is the PayPal Mutual fund. right now I am earning 4.25% on my money. and in case of an emergency I could always grab it out.
wow 4.25% is def nice. I’m gonna blow soem cash tonight I think 
I’ll let you guys know what i get.
honestly you’re best bet is to get into a stock watching website more so than an online trader… watch the activity daily …http://www.stockwatch.com/ for instance… it’s a pay site but you can find some free… you shouldn’t just go out and buy random stocks… are you are trying to go for a long term investment?.. if so an online trade isn’t a big deal… figure you’re only trading once a year or so… it sounds like you want to play around… so a penny stock is fine for day trading, but it’s going to yeild no return… as for online trading, ameritrade had a special over $1000 investment $7 trades for 6 months or a year… i used them to day trade… it’s just too much to keep up with … it’s a gamble… sometimes it pays off… good luck
So lets say I invest hypotheticaly 10,000 and in 6 months the stocks are worth 13,000. Should I take the 3,000 out after a given time or buy more stock w/ it. I guess getting your investment back is the key, then profit?
Build a mock portfolio on yahoo finance before you start talking timeframes…it doesn’t work that way or everyone would be doing it.
I use scott trade…they have an office in Monroeville…similar or lower fees than Schwab and e trade. $1k secured min
Check out their elite program if you’re interested in day tradin