My very first trading account

[sunflower]

I just opened my very first individual stock trading account.

I figured I haven't lost all the money in my 401k yet, so why not help it along...

My fingers are crossed for some profits, but I'm also treating this like fun money...if I make something, I do, if I don't, it's a small enough amount that I can afford to lose it. I'm just scared and know that my tax preparation just got a lot more complicated!!!

[Obscenely Rich Bastard]

You will be living the high life in no time, my dear.

Just so long as you didn't invest it all in Amagamated Hello Kitty, Inc. preferred stock.....

[sunflower]

You will be living the high life in no time, my dear.

Just so long as you didn't invest it all in Amagamated Hello Kitty, Inc. preferred stock.....

Uh oh............................................

[danielh41]

I just opened my very first individual stock trading account.

I figured I haven't lost all the money in my 401k yet, so why not help it along...

My fingers are crossed for some profits, but I'm also treating this like fun money...if I make something, I do, if I don't, it's a small enough amount that I can afford to lose it. I'm just scared and know that my tax preparation just got a lot more complicated!!!

Be careful. My wife works for an online brokerage, and she has been telling me horror stories. She saw one account balance go from over two million dollars down to 15,000 in just the past couple of months.

[sunflower]

I just opened my very first individual stock trading account.

I figured I haven't lost all the money in my 401k yet, so why not help it along...

My fingers are crossed for some profits, but I'm also treating this like fun money...if I make something, I do, if I don't, it's a small enough amount that I can afford to lose it. I'm just scared and know that my tax preparation just got a lot more complicated!!!

Be careful. My wife works for an online brokerage, and she has been telling me horror stories. She saw one account balance go from over two million dollars down to 15,000 in just the past couple of months.

Rest assured, I did not fund my trading account with $2 million!!!!

I put in it an amount that I can lose without too much heartache...or potentially make a ton on if my choices pay off. It's almost like entertainment...well, unless of course I lose! But I've lost a lot more in my 401k than I can lose here.

[danielh41]

I just opened my very first individual stock trading account.

I figured I haven't lost all the money in my 401k yet, so why not help it along...

My fingers are crossed for some profits, but I'm also treating this like fun money...if I make something, I do, if I don't, it's a small enough amount that I can afford to lose it. I'm just scared and know that my tax preparation just got a lot more complicated!!!

Be careful. My wife works for an online brokerage, and she has been telling me horror stories. She saw one account balance go from over two million dollars down to 15,000 in just the past couple of months.

Rest assured, I did not fund my trading account with $2 million!!!!

I put in it an amount that I can lose without too much heartache...or potentially make a ton on if my choices pay off. It's almost like entertainment...well, unless of course I lose! But I've lost a lot more in my 401k than I can lose here.

My wife does work in Preferred Client Services, so she works with people who have large amounts of money in their accounts (or at least they used to).

[Bob Juch]

Well Citigroup is down to just $3.50.

IBM is at a bargain price now: $70.30. I'd buy more if I had the cash.

[sunflower]

Well Citigroup is down to just $3.50.

IBM is at a bargain price now: $70.30. I'd buy more if I had the cash.

I'm not buying Citigroup, although I did buy the Hartford at 4.51. Which gives me great joy in a demented way since I used to work there and they were jerks. But now I hope those jerks turn it around (they've suffered enough) and make me some money!!

I didn't put enough in to make a dent with IBM, I'd be able to buy like 7 shares. There are definitely some good bargains out there!!

[Bob Juch]

Well Citigroup is down to just $3.50.

IBM is at a bargain price now: $70.30. I'd buy more if I had the cash.

I'm not buying Citigroup, although I did buy the Hartford at 4.51. Which gives me great joy in a demented way since I used to work there and they were jerks. But now I hope those jerks turn it around (they've suffered enough) and make me some money!!

I didn't put enough in to make a dent with IBM, I'd be able to buy like 7 shares. There are definitely some good bargains out there!!

Dell's at $8.90 and looks like a bargain too.

[silvercamaro]

I just opened my very first individual stock trading account.

I came very close to doing exactly this yesterday, when I realized that some stocks are the lowest they've been in decades. I am watching a few of them with great interest, and I may still get in on -- if not the ground floor -- the stairs from basement.

[sunflower]

I just opened my very first individual stock trading account.

I came very close to doing exactly this yesterday, when I realized that some stocks are the lowest they've been in decades. I am watching a few of them with great interest, and I may still get in on -- if not the ground floor -- the stairs from basement.

I figure this is one of those times in my life that I don't want to look back on it and wish I did more. I have always been responsible with money...now is the time for me to take some calculated risks on stocks and real estate, with the intention to hold them long enough to make a profit.

ALL the insurance companies and ALL the banks can't go out of business...they can consolidate or get bought out or get bailed out, but the stocks for these big players will be worth something, in some form, sooner or later. So I think.

But again, yes, I am not playing with more money than I want to lose. I'm even lower than the basement!!!

[Bob Juch]

I hope you already bought something today. The market is jumping up above 400. Someone's manipulating things again.

[sunflower]

I hope you already bought something today. The market is jumping up above 400. Someone's manipulating things again.

I bought the hartford only. I have bids in for a couple others but I low balled them so I don't expect to get them in after hours. Somehow even though I set my order to expire today at the end of the day, as soon as the market closed it jumped to Monday so I believe I'm locked in to after hours today. Oh well...I can see I still need to learn how to do this!!

They said the jump was the big announcement...let's hope things keep in the upward direction on Monday (after I buy more, of course! )

[Bob Juch]

I hope you already bought something today. The market is jumping up above 400. Someone's manipulating things again.

I bought the hartford only. I have bids in for a couple others but I low balled them so I don't expect to get them in after hours. Somehow even though I set my order to expire today at the end of the day, as soon as the market closed it jumped to Monday so I believe I'm locked in to after hours today. Oh well...I can see I still need to learn how to do this!!

They said the jump was the big announcement...let's hope things keep in the upward direction on Monday (after I buy more, of course! )

What big announcement? I'm not seeing anything.

[sunflower]

I hope you already bought something today. The market is jumping up above 400. Someone's manipulating things again.

I bought the hartford only. I have bids in for a couple others but I low balled them so I don't expect to get them in after hours. Somehow even though I set my order to expire today at the end of the day, as soon as the market closed it jumped to Monday so I believe I'm locked in to after hours today. Oh well...I can see I still need to learn how to do this!!

They said the jump was the big announcement...let's hope things keep in the upward direction on Monday (after I buy more, of course! )

What big announcement? I'm not seeing anything.

NEW YORK - Wall Street got a boost of confidence late Friday following a report that President-elect Barack Obama plans to name New York Federal Reserve President Timothy Geithner as Treasury secretary.

Stocks surged, with the Dow Jones industrial closing near 500 points.

http://www.msnbc.msn.com/id/3683270/

[Bob Juch]

I bought the hartford only. I have bids in for a couple others but I low balled them so I don't expect to get them in after hours. Somehow even though I set my order to expire today at the end of the day, as soon as the market closed it jumped to Monday so I believe I'm locked in to after hours today. Oh well...I can see I still need to learn how to do this!!

They said the jump was the big announcement...let's hope things keep in the upward direction on Monday (after I buy more, of course! )

What big announcement? I'm not seeing anything.

NEW YORK - Wall Street got a boost of confidence late Friday following a report that President-elect Barack Obama plans to name New York Federal Reserve President Timothy Geithner as Treasury secretary.

Stocks surged, with the Dow Jones industrial closing near 500 points.

http://www.msnbc.msn.com/id/3683270/

Humm, that's a leak, not an official announcement. I don't see how that triggered anything.

[silvercamaro]

Humm, that's a leak, not an official announcement. I don't see how that triggered anything.

You expect logic and patience until all facts are confirmed from the stock market? I that case, I have some stock in a very nice bridge I'd like to sell you.

[gotribego26]

I just opened my very first individual stock trading account.

I figured I haven't lost all the money in my 401k yet, so why not help it along...

My fingers are crossed for some profits, but I'm also treating this like fun money...if I make something, I do, if I don't, it's a small enough amount that I can afford to lose it. I'm just scared and know that my tax preparation just got a lot more complicated!!!

Good luck - My advice is to record everything (in writing) that you think of doing and track it - whether you decide not to do it - or if you place a limit order that doesn't hit - review them periodically to understand what you do well and don't do well.

I used to be much better at entering positions than exiting them - I'd wait too long for the perfect price and lose my profit. I've gotten much better at that in the last two years by following the ideas I generate and reviewing them.

With index ETFs and Inverse index ETFs, plus stocks of individual companies, there are lots of opportunities out here. I've made more in my trading account the last two months than I have in any year prior. (Of course my good old dollar-averaged buy and hold 401(k) is sucking wind - like many others)

[Bob Juch]

Humm, that's a leak, not an official announcement. I don't see how that triggered anything.

You expect logic and patience until all facts are confirmed from the stock market? I that case, I have some stock in a very nice bridge I'd like to sell you.

No, but I think NBC was making a post hoc ergo propter hoc connection.