Make Money Online with TradeKing.com
Many years ago when I was in my early 20’s my father and I both setup two Ameritrade.com accounts. Back then, it was actually quite expensive to set up accounts like this. At the time, you were required to fund your account with a minimum of $1,500 USD. We both decided to get separate accounts based on a challenge to see who could make the most money online by day trading. It was a total blast, but there was really no true winner because we both ended up losing our money by doing terrible and foolish things. It was fun though and both my father and I were pretty evenly matched with losing our money! A few years later, unfortunately my dad passed away, but I still have access to my account and use it to invest into a more slower paced and sensible type of trading.
The reason why I am sharing this with you is because I found another site called TradeKing.com. Unlike how it was for my father and I with Ameritrade.com, you can join TradeKing.com for free. The only money you need to bring is the money needed to make trades. They don’t force you to fund your account when you join. I find that very pleasing as I am sure there are a lot of people who can’t afford the costly price of funding an old Ameritrade.com account.
TradeKing.com is like many of the other sites out there. It gives you open access towards buying and selling stock on the Internet. With their service you can even purchase Google stock if you wanted to. The current price price for Google stock is around $300 dollars. Even though this price is low for Google and it could be seen as a great time to buy, that amount is really high to play with. I would actually recommend purchasing Yahoo stock instead. Right now they are at their all time low. All you need is just a little faith and they’ll bounce back. I mean come on, it’s Yahoo, they’re not going to go bankrupt anytime soon.
I don’t talk too much about stocks on my blog, but I do have a lot of interest in the stock market and I am going to put a lot more focus on investing. You should too! And with companies available such as TradeKing.com, it has never been any easier to do so. You can also count on me making a purchase and investing more into Yahoo! Wish me luck, hope they don’t go bankrupt.
What kind of experience do you have with the stock market? Have you traded online before? Does this sound interesting to you or does trading online feel a little risky? Share your thoughts in the comments below.
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22 comments
Hey Garry I wanted to share Zecco.com with you. They have $0 commissions and I think they may even have a social network. I still use TDAmeritrade, but thought you may want to share with your readers.
Hi Garry,
I am not too sure whether is this the right time to invest your money or not. But I do recommend you sleep over the idea for a couple of days before you make any major decisions.
It is best you wait until 2Q2009 before you start making any investment moves in equity. This recession will definitely drag into mid to late 2009.
Ren
Check out Singapore Recession’s last blog post..Singapore Recession Job Loss Tracker
Hi Josh. I will be sure to check that out. Thanks for the reference.
Hey man… thanks for the advice and insight on that. What are your thoughts on YHOO. To me it looks like a very good time to buy. I’d like to get your feedback on that. Thanks!
Where was this a few years ago when I was dying to make my own investments? On the upside, I’ve been complaining about wanting a handful of GM stock. It’s so low right now, that if they go bust, you hardly lose anything. And if they bounce back? You make a bundle. (Plus, I like to support US companies)
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Hi,
it is great to hear that you are interested in Stock Markets too,unlike most of the pro-bloggers.
Even though i cannot join tradeking since i am an indian,it sure looks likes a good deal.
Moreover,reading the comments,it is clear that people are still hysterical about Investing in the markets.
This fear is what is pushin the markets to bearish.with these dirt cheap valuations,we should go bargain shopping for good company stocks
Check out Ankit’s last blog post..Links for 2008-11-17 [Digg]
Vixen – I thought the same thing about GM until a CPA friend showed me how GM is probably so far underwater the stock may go to virtually nothing first — then who knows.
Like Ren – I would not jump off with a large gamble on anything right now.
Maybe I am not very educated about this stuff, but I am still very interested in YHOO.
Check this out:
http://www.forbes.com/feeds/ap/2008/11/20/ap5719653.html
My personal view:
If you want to choose something to buy, ask yourself the probability of the company going into trouble:
YHOO
1) It is unlikely it will dominate the search engine market (90%)
2) It is unlikely it will compete in the online ad market (70%)
3) It is likely they are going to pay millions cost for a new CEO (80%)
4) It is likely it will be bought over 5 years down the road (60%)
5) It is possible it will declare bankrupt 5 years down the road (50%)
My humble opinion: Don’t buy because the prospect is bleak.
Ren
Check out Singapore Recession’s last blog post..Singapore Recession Job Loss Tracker
Wow… I like you! You can come by as much as you want. lol
Ok, what about what WordVixen asked? She was interested in GM?
My Personal View:
If you are FORCE to make a choice to live in 2 buildings that you know are likely to collapse:
Block A. You know have 50% chance of collapsing in the next few months
Block B. You know have 50% chance of collapsing in the next 1 years
Which building do you choose? …
My humble opinion: Don’t buy Motor industry yet since you know a lot of companies in this industry is going to bankrupt.
Check out Singapore Recession’s last blog post..Singapore Recession Job Loss Tracker
Ive been checking out the international capabilities of online trading, either thru equities or information (such as intrade). Given the current econ env. what are other people doing? Is there are a lot of volume moving overseas?
jeff@gourmetcuisineinc.com
Hi garry,
You have just written down the most important thing that to me seperates the investor and the speculator.
Going by the Instinct backed by some fundamentals is the best thing to do when it comes to the Stock Market for various reasons
1.It is your money on the line.
2.You will atleast not regret not buying Yahoo tomorow if it goes higher.
3.Same way you will be the one to may be regret your decision of buyin Yahoo,which will atleast save some swearing:-)(on others that is)
Moreover,it will help you learn.As they ,u gotta ‘burn ur fingers’ to learn
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For the Info,Gm is on the verge of Bankruptcy after US senate denies to help the auto industry!!!
Check out Ankit’s last blog post..Is US the the most dominant chain of the Eco(nomy)sytem?
With my addictive personality? Are you insane??
I’m only half kidding, but I’ll keep the info handy for when I’m making more steady money.
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Ha Ha! I know how you feel. That was part of the problem my dad and I had many years ago! lol
Ha did the same thing on eTrade not too long ago. Sadly, I found out that the stock market is not my cup of tea.
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Garry I don’t know if you could have requested info for any worse companies out there. Yahoo and GM? I thought it was actually a joke when you asked about these companies. Remember people – a stock is cheap because there is a reason – Bankruptcy? Google domination? Don’t look for cheap stocks, look for stocks that have growth. To the poster who said if GM goes bust I only lose a little money needs to pick up a book, watch CNBC, and learn a little about investing. The key is to put your money in places in which it can earn money, why take the crapshoot on GM when there are companies who are actually achieving goals and will be the dominant player in their industry.
Well Josh, I surly don’t look down on my readers who are trying to learn how to make money online and don’t have much experience with it.
I am far from being an expert with trading stocks. However, one thing is for sure, I totally support Yahoo! and I wish them very well through their troubled times. Yahoo! is one of the first web sites I called home many years ago and I still in many ways I call them home today.
If I purchase Yahoo! stock it is because I believe in the company not because of their price. However, price does dictate the level of how much I can buy in. Google is very expensive for just about anyone at its current price and I believe that Yahoo will bounce back and I think there is an opportunity for me to purchase Yahoo stock at a very low price.
Maybe you are right though, maybe I should stick to doing what I am good at, which is making very large Google check deposits into my bank with a super big shit eating grin on my face.
I would stick to cashing google checks. Investing is not about buying a company that once was a dominant force and your one time favorite site and thus has fallen to the prey of Google by awful choices and poor decisions. I would ask you to look outside of your comfort zone if you really wanted to invest and seek companies in other industries than tech. Zacks.com is a great site that has a lot of information and I have made over 200% in some of their insightful choices. Just to tell you what my first line of defense is: 1) Go to Zacks.com and see if there is anything I like 2) Go to Ameritrade and see what the other sites think by entering the quote 3) If I like the company, industry, and the other companies give it 4 and above stars I then look into the P/E ratio and EPS and then decide if I want to invest.
I can relate to that. If I had someone with absolutely zero experience and skill with blogging come and tell me that they are going to launch a blogger.com blog and make $2000 dollars with it during the first month, I’d be like, “yeah right… whatever!” So, yeah… I can I see your point of view on this for sure.
Hi Garry, this account is only for U.S. Citizens. But, I am a INDIAN. And I have interest in buying Google shares for a long time. Can you suggest me the way ?? I asked many share trading companies in my local and they all don’t know. They asking me what is Google ?? Crazy guys
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