| StockFetcher Forums · General Discussion · low budget trading | << 1 2 3 4 5 >>Post Follow-up |
| stock32470 12 posts msg #26501 - Ignore stock32470 |
5/13/2003 4:19:49 PM Hi - I am cash limited, and notice some posts in this and other forums that imply spending about $1000 to $10000 on a trade. I limit myself to about $500 per trade which allows maybe 3 trades at any one time (as I am learning, I am limiting myself to losing about $1500 total). So, I naturally go with the lower priced stocks between $1 and $3. Unfortunately, that puts me in need of a bigger relative gain to reap good profit (well, any profit is good profit!), PLUS my discount internet broker says stops have to be more than 3/4 point below bid (so a stock that is bought at 1.80 can't have a stop any closer than 1.04 from the start). No complaint, that's what I get for trading small. Anyway, my interest is to see if others have the same constraints and how they deal with them. Thanks for any discussion points you can lend. |
| adrianf 49 posts msg #26502 - Ignore adrianf |
5/13/2003 9:17:48 PM First off, you are doing the correct thing by not putting all your money in one stock. The tendancy to make a killing on every stock is very strong with new investors. There is nothing wrong with a $500 trade. I've been doing that since last summer and it adds up. You do have to swing trade and that requires patience. Here are two statements that I am very proud of just doing small swing trades with BuyandHold.com, and they don't even offer stops. There are many limitations with their service, but they do have a great commision schedule which is very important to the small investor. I pay $14.99 a month for unlimited trades. As you can see, I started with just over $1200.00. ****************************************************************************** BUYANDHOLD a Division of Freedom Investments 375 Raritan Center Parkway Edison, NJ 08837 CUSTOMER ACCOUNT STATEMENT For the Period: 06/01/02 through 06/30/02 Last Statement: 05/31/02 PORTFOLIO SUMMARY Cash/(Unsettled Trades): $0.00 Net Change in Value: $9.00 Securities Value: $1,269.44 Money Market Fund: $0.18 Opening Value: $1,260.62 Current Month’s Closing Value: $1,269.62 ***************************************************************************** Now look at my December statement: BUYANDHOLD a Division of Freedom Investments 375 Raritan Center Parkway Edison, NJ 08837 CUSTOMER ACCOUNT STATEMENT For the Period: 12/01/02 through 12/31/02 Last Statement: 11/30/02 PORTFOLIO SUMMARY Cash/(Unsettled Trades): $0.00 Net Change in Value: $1,014.33 Securities Value: $6,157.22 Money Market Fund: $0.08 Opening Value: $6,143.36 Current Month’s Closing Value: $7,157.69 *************************************************************************** I still use BuyandHold for most of my swing trades, but I also use Scottrade for my Day trades now and am opening up another day trade account with Brokerage America this month. I still consider myself a small investor because I do not have the $25,000.00 required to be a pattern day trader. So hang in there and go for the small gains and don't get caught up with hitting homeruns on every trade. You can do it. |
| adrianf 49 posts msg #26503 - Ignore adrianf |
5/13/2003 9:41:38 PM One more thing I forgot to add. I just found this site a few months back. I can't even imagine what my returns would have been if I had been using StockFetcher. This is a wonderful site and a must for every investor. |
| garydbi 5 posts msg #26504 - Ignore garydbi |
5/14/2003 12:03:11 AM Hey cash limited, me too I'm trading with 3,500 and have over 6 stocks in my portfolio. 200-500 shares each. I'm like you I won't buy any stock over 5.00. I got lucky yesterday with the help of this site I bought 500 shares of vrso at 1.02 and today they came out with better than expected earnings. after hours trading 1.22share. Hope it up tommorrow. I use scottrade, stops are only .25 below ask. still restrictive tho. I'm taking any profit I can get 20+. but it bit me last week sold 500 shares of prox at 1.11 made $150. Today it is at 1.80 lost opportunity of $340. Oh well I think there's good money in cheap stocks just got to be carefull and know when to fold um. |
| jhb0331 7 posts msg #26505 - Ignore jhb0331 |
5/14/2003 8:12:30 AM Hey cash limited. Nothing wrong with what you are doing. I use lowtrades.com. They charge only $5 per trade no restrictions on number of shares, no fee for stop or limit orders. Check out their site. By the way I use mental stops. This takes discipline but you control the restrictions. |
| stock32470 12 posts msg #26506 - Ignore stock32470 |
5/14/2003 8:41:35 AM This forum and stockfetcher continue to amaze me! I thank you all for your responses to my post so far... you have provided me with more confidence and some great ideas. I will check out those sites you mention. Best of luck in all your trades! |
| petrolpeter 439 posts msg #26508 - Ignore petrolpeter |
5/14/2003 11:10:21 AM I have or have had acounts with waterhouse,datek(now ameritrade),and rjt(now owned by waterhouse) and now have opened an acount with MB Trading.MB Trading is all ECN,fast as lightning,covers the full pre and after markets,and has 2 fee schedules to choose from.I believe phone orders are same price but have not had to use it yet.They also offer enhanced buy and sell order condition options and have all your info on one page,such as holdings,balances,orders watches,everything,which is what you want these days.Trade on. |
| gruender 101 posts msg #26510 - Ignore gruender |
5/14/2003 12:39:30 PM Hi Adrianf, I must tell you that I was very impressed with the results of your six months performance in your Buy and Hold account. I too would like to do some swing trading instead of day trading. Would you be willing to share some of your ideas as to how you generated such excellent returns? Congrats on your performance, Joe |
| adrianf 49 posts msg #26513 - Ignore adrianf |
5/14/2003 2:45:36 PM Gruender, Here's my e-mail. Drop me a line, I don't like to advertise (even if it's free) other sites. I run a message board also and I don't like it when it happens to me. I always delete them. Anyway drop me a line. E-Mail as typed: FloridaSwingTrader@comcast.net |
| Noahedwinbeach2 135 posts msg #26531 - Ignore Noahedwinbeach2 |
5/17/2003 11:54:29 AM I just want you to know buyandhold.com rocks! I read the previous reply saying they use buyandhold and I previously had an account with them but never used them. I just bought 30 stocks with only $2000 and its only costing me $14.95 a month!!!! Guys this is a great way to diversify your filter picks. If you ever look at your filters and see the results they produced 10 days ago it almost always produces a good average of all of the stocks. Why not just buy all the stocks in the filter!? That is what I am doing and I will see how this system works and report to you guys in about 10 days. Take care and God bless us all! Noah |
| StockFetcher Forums · General Discussion · low budget trading | << 1 2 3 4 5 >>Post Follow-up |
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