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Online Trading

Posted by Sailfish (My Page) on
Sat, Jan 8, 05 at 11:22

Been using the Forums for about a year and I love'm. There seems to be some interesting topics here as I scan through. Surely there must be a group of participants invoved in online trading. I picked up on it in a hobby capacity a few months ago soley because it was something I wanted to try. Not to mention the sorry rates the banks are willing to award you for the use of our money. To my suprise I was able to inch ahead, So my interests in trading are growing. I'd love to see a forum on this subject which I seem to know so little about. Would be great to be able to learn from some more experienced players. Any thoughts on this subject?

Follow-Up Postings:

RE: Online Trading

I like it. How about asking Spike to create a forum for discussions on Online Trading?

And while you're at it, ask him to create another folder called "U.S. Economy & World News". Cause as you can see, there is much interest -- and we're trying to fit these type of discussions under "Household Finances". ... :-)

RE: Online Trading

Allright! I gotta bite! I'd be more than happy to ask spike about the new forums. I would also be greatly inrerested in U.S. Economy and world news too. I want to learn more about twin deficiets and the shrinking dollar. Is putting a few bucks in a swiss acount in perhaps British pounds while the dollar receeds a better vehicle to obtain return on your money than CD's or Money Markets? I want to talk about this stuff.
I think spike will spring for it as long as it's a subscriber forum. I read the "Please read This" header at the top of the page and it seems that some forums are not panning out. If I gotta choke up fifteen bucks to make it happen so be it. I really enjoy some ofthe other forums and have been rewarded many times over by friendly speedy response. I'm in!

RE: Online Trading

LOL! Yep, I bit.

I'm already a paid subscriber here, so hurry up and get those two forums created. I've got a lot of yapping to do. :-D

RE: Online Trading

Hi all,

I use a discount broker, but haven't done online trading.

They claim that their systems are well encrypted ...

... but I feel that if they can crack the Pentagon's and NASA's codes, they can crack those used by the stockbrokers.

While it was a much less sensitive system that they were using, they sure messed up the computer systems of several companies a couple of years ago.

I don't do online banking, bill paying, etc. either - certainly don't disclose credit card info to any agency that I don't know.

By the way, sportsmom, I hope that you haven't had trouble with your account, after having diclosed its number on here. I wouldn't have done that on such a public place, either.

Maybe I'm just being a super-cautious old fart.

Good wishes for a memorable New Year.

joyful guy

RE: Online Trading

Well, I do online trading (8 years) and online banking (2 years) and so far so good. I love the convenience and certainly the pricing for on-line trading. Not a day-trader, though. I use Brown & Co. as well as Fidelity. Each one has plusses and, of course, some minusses.

RE: Online Trading

Not many mutual fund managers successfully outpace the market in general over substantial periods.

In the U.S. they mostly charge 1.5% or so for equity-based funds, where one has the best opportunity of asset growth.

In Canada they usually charge about 2.5%.

The average growth rate of the market is about 7 - 8%.

Which means that they get something like a fifth to a third of the growth - if their growth rate equals that of the market average.

But - if they do less well ... they get paid anyway.

Seems to me a good idea to buy a fund that buys a cross-section piece of the market, or of various components, such as utilities, financial, oil and gas, mining, etc.

Annual fees are much lower.

Some years ago I talked to a personal financial advisor advertising in the yellow pages, who had a business, had done some investing and whose friends had asked him if he would manage some of their money. He agreed to do so, with a minimum $10,000. account, confirmations going to the client and to him.

He charged 10% of the growth that his choice of investments developed, annually. When I asked what happened if his chosen investments produced losses, he said that he had been able to bill every client, every year.

I thought that I should have given him $10,000., then set up a parallel system with clients that I had.

joyful guy

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