Stock Trading Information
The best strategy for you is via a portfolio of Unit Trust or OEICS. These give you access to markets that an individual investor would have no hope in accessing. You should also speak to an Independent Financial Adviser.
lately I have had an interest in investing into the stock market after a friend explained to me something about setting up an account with a broker that would buy and sell for you at a given dollar amounts.
what was explained to me was if I were to invest and buy 100 shares from a company at say 12.00 per share, then sell when the shares rise to 13.00. then when they drop, buy into the same company again using all the money from the shares sold. it was explained to me that I could do this several times in one day having a broker watching the stocks in real time. if those 100 shares were to sell and buy once a day for a full month, the profit could be close to $3000 minus the broker and trading fees. I’m not sure how all this works, nor how to avoid having to pay taxes for each time they are sold. my friend thought is was something like keeping the money and stocks in a liquid form! to where I would only have to pay taxes on the money when I withdrew some of all from the broker.
Can anyone shed some light on this and if it’s a good idea as an income boost. also who would be a recommended broker! I do have an account with etrade but not sure they can do something like this.
Doing what you say will of course make money. The trick is to know when to buy at the low and when to sell at the high. Not too many people can do this successfully and regularly, not even the professionals and "experts".
Isn’t that what everyone wants to do?
Actually, it would be very difficult to do what you say, because of Day trader rules, and Margin rules, and the 3 day settlement rules. Just go look them up to see what I mean.
As as added fact, the commissions each trade would take away a fair % of your gain. And don’t forget that the commissions apply even if you lose on a trade, thereby exacerbating your losses.
Along with a career as the primary income, what do most Americans do as a secondary form of income? Is Stock Investing good? What else is there?
Long term, yes – it is one of the best. But short term it is far more risky, in fact it is more speculating than anything else – which is very hazardous, and most people lose at. If you want to supplement your income, then look into some bond funds. Government bonds are safer but now pay very little – look into something like Corporate grade investor bond funds, or High Yield Corporate bond funds. Bonds are much safer than stocks, and better at stable income production. Like everything else though, more reward means more risk.
Episode 8: Double Bottom Chart Patterns – Catching Stocks on the Rebound
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