Etrade, Ameritrade,

[Riccardo]

It's basically gambling

If you have some extra dough you want to play with for kicks, but won't be too pissed if you lose it, go for it.

I prefer the slizz approach

[Eagle Road]

If you have some extra dough you want to play with for kicks, but won't be too pissed if you lose it, go for it.

I prefer the slizz approach

Understand, but it can't be any worse than sending the wife to the casino once a month or so!

[Eagle Road]

Just remember if you hold for less than a year it's not a long term capital gain and you lose the lower tax rate.

I adhere to Susq's philosophy. When I got divorced I took my share of the proceeds of the sale of the house and put it into the market. I've done well, but it's been hard not to do well the last few years. I own many different stocks in different sectors and I try to hold on to them for at least a year unless one of them is a real loser or if one goes up so much I feel compelled to lock in a profit. At least once a year I try to rebalance things.

I use Charles Schwab because I like the resources they have for research. If you already know what you want to buy and sell, that's not so valuable. They are on the higher end of cost per trade, but like I said I don't trade too frequently so an extra dollar or so per trade doesn't hurt me.

I know what you are saying about the last couple of years, that's the only thing that has held me back this long is that with my luck I'll dump 15,000 in and the next day will be a large correction.

[CCPete]

Look at it as two separate entities. Trading and investing. My investing is done by people who manage my accounts. I set aside "play" money for trading. I don't day trade but trade frequently and use the platforms I like the most even if they might not be the cheapest. Find the one you like the best. Don't try to find the cheapest.

[Eagle Road]

Look at it as two separate entities. Trading and investing. My investing is done by people who manage my accounts. I set aside "play" money for trading. I don't day trade but trade frequently and use the platforms I like the most even if they might not be the cheapest. Find the one you like the best. Don't try to find the cheapest.

Gotcha Pete, that's the direction I am heading in, as I said, I am not touching my current investments or savings/property.


This was just something I always wanted to try but wasn't going to do it unless it was disposable income.


It's either this or buy some vacation property somewhere that I will never use.

[IronEagle]

I know what you are saying about the last couple of years, that's the only thing that has held me back this long is that with my luck I'll dump 15,000 in and the next day will be a large correction.

I just checked- about 23 percent of my brokerage account is in cash right now. That tells you what I think about the market right now. I'm far from all in, but still in. The most I can lose is 77 percent!

[Eagle Road]

I just checked- about 23 percent of my brokerage account is in cash right now. That tells you what I think about the market right now. I'm far from all in, but still in. The most I can lose is 77 percent!

I hear ya IE, I was "all in" in 2008 and lost big, I won't make that mistake again, as I said, that is what I fear about this market today, there are just a lot of things that can go bang in a world economy that you have no control over.


We're heavy in property, commercial buildings, and acreage, only about 30% of my worth is in stocks.

[IronEagle]

And I gotta add I think that those who say that going with an advisor, or index funds is best are absolutely correct.

"Don't put all your eggs in one basket" is one thing I believe.

Another is "If it sounds too good to be true, it probably is."

Back when I was just out of college and working for a military contractor in Long Island there was this group that was systematically cold calling people that worked there (not sure if it was limited to younger people or not).

They were selling penny stocks. I smelled scam right away and sure enough a few months later there was an article in Newsday about the fraudsters.

I don't know if anybody where I worked got rooked but I remember I got several calls from them.

[IronEagle]

I hear ya IE, I was "all in" in 2008 and lost big, I won't make that mistake again, as I said, that is what I fear about this market today, there are just a lot of things that can go bang in a world economy that you have no control over.


We're heavy in property, commercial buildings, and acreage, only about 30% of my worth is in stocks.

Yer right, one war, one terrorist attack, etc. and things can change quickly.

Farmland always has seem have done well in economic bad times for some reason.

[Eagle Road]

And I gotta add I think that those who say that going with an advisor, or index funds is best are absolutely correct.

"Don't put all your eggs in one basket" is one thing I believe.

Another is "If it sounds too good to be true, it probably is."

Back when I was just out of college and working for a military contractor in Long Island there was this group that was systematically cold calling people that worked there (not sure if it was limited to younger people or not).

They were selling penny stocks. I smelled scam right away and sure enough a few months later there was an article in Newsday about the fraudsters.

I don't know if anybody where I worked got rooked but I remember I got several calls from them.

I hear ya, me and the wife are in pretty good shape, we are downsizing a bit just because I am getting older and tired of juggling several things at once.


Have sold off two businesses and will probably get out of another before this year is up, leaving just my transportation company and commercial building rentals/real estate.


I sold off a couple of my collector cars and bought 40 acres just outside of town, (this 15,000 is what is left of that) maybe sell our in town house and build a small rancher and get rid of the steps which I think may be a problem going forward for my wife.


But I want to start something that I could hopefully grow a bit and have that for the grandkids, have two granddaughters 4/7 and a grandson on the way, and I would like to be able to leave them something.




Thanks for the replies.

[BigSlizz]

Fiscal conservative high five!

[JuTMSY4]

Isn't that

And I gotta add I think that those who say that going with an advisor, or index funds is best are absolutely correct.

"Don't put all your eggs in one basket" is one thing I believe.

Another is "If it sounds too good to be true, it probably is."

Back when I was just out of college and working for a military contractor in Long Island there was this group that was systematically cold calling people that worked there (not sure if it was limited to younger people or not).

They were selling penny stocks. I smelled scam right away and sure enough a few months later there was an article in Newsday about the fraudsters.

I don't know if anybody where I worked got rooked but I remember I got several calls from them.

The plot to boiler room and the wolf of wall street...assuming I didn't miss the joke

[IronEagle]

The plot to boiler room and the wolf of wall street...assuming I didn't miss the joke

You didn't miss the joke... It's a true story. If i can find the Newsday article I'll post it.

[Riccardo]

The mistake after 2008 was bailing

We were all in too, and a few years later made it all back and more. Unless you need to start tapping into it within a few years you're usually better off staying in the market.

[IronEagle]

The plot to boiler room and the wolf of wall street...assuming I didn't miss the joke

P.S.
I haven't seen the films you mentioned. But I googled them and here's the thing: The scams I described were going on in the late '80s (I worked at the place that they were cold calling from 86-89). The scammers got busted late during that time as well.

The events about the wolf of wall street were a number of years later in the 90s so apparently the government did little to either investigate or enforce actions against these sorts of frauds.

(Edit-- after reviewing this some more, it was all happening at the same time. They did catch them eventually so they DID do something. But the guys cold calling me weren't the people depicted in the films. It was a different fraudulent organization.)