Do NOT make a post asking for advice, that belongs as a comment in the "Daily advice thread". Keep discussions civil, informative and polite. Off topic comments, attacks or insults will not be tolerated. Strictly no promotional threads. Do not post your app, tool, blog, event, etc. A hedge fund analyst explains his stock research process.
Full of excellent links to videos, articles, and books. I loaded my account with bucks and made 3 trades. I loaded my Td Ameritrade account with bucks. I bought stocks at. Anyways I sold off the shares of the other stock but now my account shows I have a begative cash balance and a negative option buying power. I thought I sold my shares shouldnt I get money back into my account? Often people will buy penny stocks expecting them to have some astronomical jump and poof instant millionaire.
Often penny stocks will require you to buy a minimum amount of stocks, or , depending on who you go through to buy your stocks. Most places will charge a commission to place an order buy, sell, etc When you buy a stock, it's nearly instantaneous.
Once sold, the money typically takes a few days to get back into your trading account. If you transfer the money to your checking account, expect another few days. What I did was find companies that I like, wanted to own a part of, and weren't terribly expensive.
This is how i started out, I haven't made a ton of money off of any of them, but i'm not trying to get rich quick here. REED makes a root beer i like - bought some stock.
Look at what you want from a stock, read as much as you can, if you don't understand something ask the questions. Again, if you are not comfortable losing money, you should get out, because the likelihood of always picking a winner is slim.
You have to be OK with the day to day market fluctuations and realize that sometimes it's best to just let it sit there, checking on it daily can drive you crazy. Thank you for posting a useful, thoughtful response rather than just saying "lol, ur an idiot" like everyone else. If I hadn't lost all my money on oil stocks, i'd buy you gold That's how i've picked some. I don't claim to be a guru at any of this, just relating my limited experience. My portfolio is far from ideal, and there's loads more that i need to learn, But I do alright for the most part, i get a decent amount for me in dividends every year that I either re-invest or use to pay down other higher interest debt.
A sector of the economy that consists of businesses that sell nonessential goods and services. It's one of those stock i bought because it was cheap and i had heard that a larger Cola company was interested in buying it.
I have no intention of selling it ever, it's not really worth it, at this point it's becoming an experiment to see if it'll get delisted or if someone else will buy it. Seriously your comment made me laugh out loud! He is the future wolf of Wallstreet with these day trades. This is your broker calling , are you there? I've got a hot item on the upswing and it is right up your alley! Wait until tonight and what should happen is the Money Market cash will get pulled in to cover the stocks trades you made.
This is the same thing that would have happened if you had traded and made money but in reverse. Overnight the cash would have been swept into the Money Market account. There's about a 3 day hold on money after you sell stocks to clear. Please stop doing what you're doing, you're seriously throwing money away. Let's say there are two exactly equivalent companies.
Are two shares of Company 1 any different than one share of Company 2? I said they were exactly the same, and one issues twice as many shares, so you can buy 2 and it's the same thing. All that matters is how much the company is worth and how much you own of it. The stock price, and thus the number of shares you're getting has no bearing on how much value you're getting.
In general, fly-by-nights and other shitty companies. Hmm never thought of it like that. So ten shares in a commission free etf is a better investment. Are these etfs for long or short term investments? ETFs are just baskets of stocks. In general that means you get diversification, which has the effect of increasing expected returns while decreasing risk, but that is no guarantee, and you have to look into each stock or ETF individually.
People spend hours and hours researching anything before they buy it, and you should too. Now do some research. Yeah my account isn't allowed to trade on margin so idk what the deal is. It's like it costed me money to sell my own stock, more than the 10 bucks I was expecting to pay. I guess I should call them or see if it settles out after market close?
You could always call them. That's what customer service is for. But in my experience penny stocks can have additional per share fees associated with trading them. I would just call.
If they have no idea, ask about that money market line. Because I really think that's your issue. For sure Imma call em and see what's up. I want to get rid of the rest of this stock but not if its going to cost me money. You're stupid and bad at investing unless you use the proper Queen's English you plebeian tallywacker! Begone with your modern colloquialisms! Yo what brokerage are you with?
You fees are huge. You need to pick the cheapest discount brokerage if you are gonna be trading stocks with a small account. Don't let your account size discourage you, lots of people do this and learn why they should have saved up more afterwards.
Also, for an example, when I was young and dumb I too bought and sold pennystocks because the possibility of making a large gain blinded me from what the limits of pennystocks were. As a result, I will forever have stbv in my account.
It's so worthless I'd have to pay my brokerage money on top of the zero market value the shares have just to get rid of them. This is my reminder, the bag I carry.
Some people might just ditch the loss and move on, I keep it as a reminder to know what I buy and why I bought it. That bag was from me trying to speculate. So don't feel too bad, but sell.
I guess the cost of the trade is in parentheses because you are selling the stock to close and therefore getting a credit. See how the commission cost is positive? Let's say you buy shares of ABC at a dollar. Now without any movement in ABC and no bid ask spread you sell your shares back to close your position.
In your case you had some movement in the stock price and due to the low trade volume of penny stocks you had a large bid ask spread. When you buy a stock you have a bid and ask. The bid corresponds to the amount people are willing to buy a share the ask reflects the amount people holding the stock are willing to sell at. When you have a large bid ask spread, all that means is the bid and ask are separated by a large difference.
Again, that's all relative to the underlying. Penny stocks tend to have a huge bid ask spread. Take a basic investing class before doing anything else. You're going to lose a LOT of money otherwise. Stock abc had a bid 8. Basically the broker makes a couple extra pennies per share. Investopedia is a great resource to use to answer questions like these.
Keep at it and you'll pick up the terms quickly. Also this is what it looked like with the other trade. See how the cost is in parenthesis. It's like it's gonna cost me money to dump this stock. What the fuck man. Yeah bit it will cost you even more to hold it.More...