online brokerages

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online brokerages

Postby everything on Tue Jun 20, 2017 5:52 pm

anyone have recommendations?
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Re: online brokerages

Postby Steve James on Tue Jun 20, 2017 6:25 pm

Do you have a pension plan that allows you to decide how you distribute your savings? Does you job offer any matching contributions? If you can save 15-20% of your net and put it toward something with a guaranteed return (3-5%), time will be on your side. By the time you're ready to retire, you'll be fine -especially if you start young. There are lots of good funds, but it really depends on how much you're willing to risk and for how long (i.e., whether you plan on using it in the near future).

You should probably look at some guides to investing on Forbes magazine site or Businessweek. I've always used automatic paycheck deductions and transfers to mutual funds. You can check the ratings for individual funds using Google. But, imo, the key is to think long terms. In theory, the younger you are, the more risk you can afford --as long as you make continuous contributions.

Of course, the younger you are, the more likely you will want to spend your money, especially extra money. :)
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Re: online brokerages

Postby everything on Tue Jun 20, 2017 6:37 pm

Yeah I've done all the tax-advantaged modern portfolio theory stuff.

This is just for some fun. Mainly because I want to hold Amzn, Goog, Aapl, Msft, FB.
Last edited by everything on Tue Jun 20, 2017 7:07 pm, edited 1 time in total.
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Re: online brokerages

Postby Steve James on Tue Jun 20, 2017 8:59 pm

OK, try Scottrade or TD Ameritade if you want to buy individual stocks. There are lots, but the prices from trading varies.
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Re: online brokerages

Postby everything on Wed Jun 21, 2017 6:24 am

Ok sounds good. I don't plan to trade, just buy and hold, so perhaps I don't really need to look at "trading" services.
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Re: online brokerages

Postby Steve James on Wed Jun 21, 2017 7:03 am

Well, you use a trading service to buy the specific stocks/investments that you want. Or you can buy funds from companies that pick stocks for you. In the first instance, you pay a fee for trading (i.e., buying or selling). In the other instance, you pay a percentage to the company (or broker) that manages your investment. It can be cheaper to trade on your own, but you still have to go through some middleman who gets paid.

Imo, if you're interested in making money in the market, it'll be a matter of doing research and spending time. If you're interested in saving for the future, finding something that is managed through your employer (like payroll deduction) and gives you a consistent yield is safer than playing the market.
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Re: online brokerages

Postby everything on Wed Jun 21, 2017 8:00 am

Oh right, sorry, I meant I can probably just add brokerage service through one of my retirement account vendors and don't need to add another vendor. I know I have to pay a trading fee to just buy. I'm mostly interested in passive investing and dollar-cost-averaging, etc., but do want to do some additional buying based on my consumer and industry experiences.
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Re: online brokerages

Postby TrainingDummy on Tue Jun 27, 2017 7:13 pm

I use Interactive Brokers for their low cost, API, market accessibility and their ability to survive the GFC without assistance.

The platform is complex and takes a while to get used to though.
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Re: online brokerages

Postby everything on Tue Jun 27, 2017 7:41 pm

API meaning you're writing your own software to execute your trades? Too advanced for me from both a programming and a financial/quant perspective, but I'm always curious about it. Do you happen to be using Python to hit the API?
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Re: online brokerages

Postby TrainingDummy on Tue Jun 27, 2017 8:32 pm

I'm not live trading the API, but currently automating my end-of-day trading strategies using the MultiCharts plugin.
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Re: online brokerages

Postby everything on Wed Jun 28, 2017 7:38 am

interesting thanks. I guess that automation keeps whatever discipline you set for your rules/algorithm. Very cool. I don't think I'll end up getting that sophisticated but you never know.
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Re: online brokerages

Postby Steve James on Mon Jul 03, 2017 8:47 am

I haven't tried it (but I might :)). https://www.loyal3.com/
It's not click bait. See http://www.kiplinger.com/article/invest ... -2016.html
Last edited by Steve James on Mon Jul 03, 2017 8:48 am, edited 1 time in total.
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