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Zecco.com » General Investing » New Investors » Just started and have one Q..
Last post 02-13-2008, 10:29 AM by RiddleStock. 11 replies.
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  •  02-09-2008, 11:01 PM 23413

    Just started and have one Q..

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    I keep seeing margin and cash accounts.

    Which path sould I take if I m looking to have an account were I can just put in like 100$. To were if I lose money in a stock I wont have to pay back any lost coin?Im looking to trade every other day so I can stay away from being thrown into that 25,000k min accounts.( if iam currect, if not pls correct me .)

    How do I pull money out of an account? Or if some one can link me to an info site that would be great., but I have read alot here and I still can figure it out.

    Jake

  •  02-10-2008, 3:37 PM 23426 in reply to 23413

    Re: Just started and have one Q..

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    can any one help me out...? You can just post a link to were I can find the info needed.

  •  02-10-2008, 4:44 PM 23429 in reply to 23413

    Re: Just started and have one Q..

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    1. You're looking for a cash account, not a margin account. When you use margin, you are borrowing money and that money needs to be paid back whether or not you lose money on any transactions.

    2. If you trade every other day you will avoid being tagged a day trader. You can even trade every day, so long as you don't sell a stock the same day that you buy it overly frequently.

    3. If you only have $100 dollars in your account, you will have to pay a commission to either purchase or sell shares. If you do that frequently, you're going to eat through your $100 dollars very quickly. Zecco has a $2,500 minimum for free trades, and even then you only get 10.

    4. You can pull money out of your account in multiple ways. I've found that the easiest for me is to go to the 'move cash' tab and transfer money directly into my bank account. It is free and it is (relatively) quick. Once you have an account set up, all the information should be easy for you to find.

    5. I know it isn't any of my business, and that this is unsolicited advice, but I would suggest that you ease yourself into the whole trading thing by buying some shares and holding them for a while before you start trading every other day. Trading that frequently is tough to do, especially in a market like we're seeing currently.

  •  02-11-2008, 3:40 PM 23466 in reply to 23429

    Re: Just started and have one Q..

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    Thnx for all the info. I think I will stick to the cash account and put in the 100$ and do just what you said. And when my account is set up it will tell me how much the commision fees are to trade? I think it said 4.95 per trade. So I would have to make like 6$ profit on a trade just to see 1$ in my bank? I better make worth while trades...

  •  02-11-2008, 4:42 PM 23474 in reply to 23466

    Re: Just started and have one Q..

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    If I remember correctly it's $4.50 a trade.

    $4.50 when you buy

    $4.50 when you sell

    You will need to have a profit of atleast $10.00 then you can have $1.00 extra in your account.

    I'd stock pile some money then make your trade unless you have a gem.

  •  02-11-2008, 4:59 PM 23479 in reply to 23474

    Re: Just started and have one Q..

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    I agree with mdcplas; needing to make what would otherwise be a gain of 10% just to break even probably isn't a very good idea. You can, however, have Zecco sweep any cash you have in your account into a money market fund while you're waiting to stockpile more money for trading equities. That way you can can at least get a decent return while you're building up reserves. I'm not sure off the top of my head where the sweep form is, but it shouldn't be too difficult for you to find once your account is set up.

  •  02-12-2008, 1:09 PM 23521 in reply to 23479

    Re: Just started and have one Q..

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    I have all the paper work coming in the mail in about 2 days. Ill look it over to make sure I get it set up right. I was looking to start in penny stocks but that might be hard to do with a 4.50$ charge to trade. I will most likely watch the charts and keep a close eye on some stocks, buy one then hold it and see how it works out. If any ones into penny stocks post your thoughts on how you feel about them.

    thnx all

  •  02-12-2008, 1:54 PM 23525 in reply to 23521

    Re: Just started and have one Q..

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    I invest in penny stocks. What I do is research the heck out of each company I have a interest in.

    It may take up to a year for the price to go up or may take a month. I wouldn't expect overnight results at all so your going to go long.

    I mean look at everything books,website,product,news,institution recent buyers/sellers. Research design expenditures, future contracts,expected product release date and etc.. Know the company inside and out, know the product inside and out.

    with a $100 I'd be more inclined to find something below .46 and buy atleast 100 shares in 2 different companies..

    OR buy a couple shares of a high priced company and get the dividends.

    head over to http://Nasdaq.com register. mouse over tools, click on Stock screener.. After your all done looking there. head over to google finance and then to yahoo finance and read everything there. Then use the search engines..

    There is so much to think about I'd prolly spend hours typing here so read read read. head over to http://fool.com read about investing small sums. Do a internet search and read about pennystock investing.

    Don't listen to anyone saying buy this now it's going up up up.. Make a note of it only because people are here to make money and will give advice to only help themselves at your expense..

    Last note don't expect to have $100.00 if your penny stock investing.. consider it as though you now don't have $100.00 in your pocket at all because the company could go under.

    I have (AGT) Apollo Gold Corp.. research that one on your own do not buy because I have it. take that advice with a grain of salt..

  •  02-12-2008, 2:03 PM 23526 in reply to 23525

    Re: Just started and have one Q..

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    Oh yea to get the best bang for your buck. I'd wait for really bad news that drags the whole market down.

    9-11-01 sad news but really screwed the market up
    mortgage mess messed up a few companies and screwed the market a little.
    Recession talks really plays havok on the markets also.

    I usually don't ever buy when the market is going up I look for bottoms the best I can then buy..

    Buy low sell high

  •  02-12-2008, 10:34 PM 23551 in reply to 23521

    Re: Just started and have one Q..

    Reply Quote
    Investment:


    I have all the paper work coming in the mail in about 2 days. Ill look it over to make sure I get it set up right. I was looking to start in penny stocks but that might be hard to do with a 4.50$ charge to trade. I will most likely watch the charts and keep a close eye on some stocks, buy one then hold it and see how it works out. If any ones into penny stocks post your thoughts on how you feel about them.

    thnx all


    I do buy penny stocks (Stocks less than $5), but only as an investment. I own E*Trade, Abraxas (ABP), Capstone (CPST), Forgent Network (ASUR), and HIMX. To be honest, I've made a higher % return off those companies than I have with my long term prospects of Ford and Verizon. However, I have a lot more invested in the established companies.

    Good Luck,
    Scott
    http://www.advancedtrendanalysis.com

  •  02-13-2008, 9:52 AM 23564 in reply to 23526

    Re: Just started and have one Q..

    Reply Quote



    Your right the market is really bad right now. After I graduated high school in 2005, I went into Real Estate. Then It went all down hill. So I waited and waited......and waited. Now it seems to be dropping back down to were it should of been about 3-4 years ago. Its still to high though. Most of the problem for the increase was because of the hurricain season we had about 3-4 years ago. Every one wanted to get out of florida and homes were selling left and right and after every home sale the market value would go up for the area. In real Estate they predict the value of the home based on the comparable homes in the area. So if one sold for 150,000. The next seller is going to want to get 160,000. Thats why we saw such a huge increase in market value and huge decrease in market sales because no one wanted to get less for their home then the last seller in the area.

    I will look into multiple stocks and just track them before I jump in and buy one. I will track it for about a month or so and see if it has a pattern (if any) then buy some shares or move on to some others. If any one knows any good books I would like to know. Any thing to better my self is worth while to take the time out to read.

    I was also thinking about Dividend stocks. Are they worth while to buy? even if the return is 1%-2% every quarter.

    What about Publix stock? I work at publix as a meat cutter and was wondering if any one here who works at publix buys into it.

  •  02-13-2008, 10:29 AM 23566 in reply to 23413

    Re: Just started and have one Q..

    Reply Quote


    An individual account should be fine. There is no minimum balance to use it, but if you have under 2,500 in equity you will have to pay 4.95/trade. Margin is similiar to borrowing money to make a trade. As long as you are just buying a stock with 100$ then you should not have to worry about a minimum of 25,000.00.

    Customer Service can probably help you more if you have questions like that though.
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