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Kizzume
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Joined: 31 Dec 1969
Posts: 2785
Location: Tacoma, WA USA
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jq
Joined: 02 Dec 2007
Posts: 1088
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 Posted: Wed Dec 05, 2007 2:08 am Post subject: |
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Yeah, I bought my most recent stock at the worst of times. I thought it was the lowest it was going to get, (and as you know, buying low is the only way to go.) But, I didn't buy low enough.....
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Kizzume
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Joined: 31 Dec 1969
Posts: 2785
Location: Tacoma, WA USA
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| Posted: Wed Dec 05, 2007 2:08 am Post subject: |
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Ugh. I've not yet bought stock. I know that if I did, I'd end up making a poor decision. 
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jq
Joined: 02 Dec 2007
Posts: 1088
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| Posted: Wed Dec 05, 2007 2:09 am Post subject: |
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| Quote: | | Ugh. I've not yet bought stock. I know that if I did, I'd end up making a poor decision. |
Plus it is worth noting, that if you don't have much money in the stock market, the odds are stacked against you. Think about this-- I put $1,000 in the stock market. $1,000 is the bare minimum with most online brokers. Like banks, the more money you put in, the more bargaining power you have in terms of having lower fees etc.
So consider this:
Every purchase I make, I have to pay a $12.99 fee. Every time I sell, $12.99. So with only $1,000 of buying power, right off the bat my day trades have to exceed $26 before I can even make a profit. But here is the other doozy. Let's say I wanted to put a long term investment into something with my $1,000. Guess what? Every 6 months there is a $40 holding fee. That is $80 a year. That means that, if you add $26 to that, then I have to exceed $106 per year in long term investment, with only $1,000, before I even make profit.
Now obviously it is possible. In fact, some long term stocks go up 10-20% in a year. But it would have to go above 10% increase in a year before I would actually be making money.
Add the fact that all profit is taxed, and you can see why the stock market is not set up very well for the little guy.
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Kizzume
Site Admin
Joined: 31 Dec 1969
Posts: 2785
Location: Tacoma, WA USA
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| Posted: Wed Dec 05, 2007 2:10 am Post subject: |
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I hadn't researched it that far to know about those elements. Yeah, it seems that investing in the stock market really is just for the rich. Yipes.
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jq
Joined: 02 Dec 2007
Posts: 1088
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| Posted: Wed Dec 05, 2007 2:11 am Post subject: |
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Well it certainly is easier to make money if you have it, that's for sure.
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chuq
Joined: 04 Dec 2007
Posts: 135
Location: Gulf South
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| Posted: Wed Dec 05, 2007 2:11 am Post subject: |
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I think if you go to mid-America and ask a family of four trying to survive, they will say that the economy sucks.
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