Anyone use ETrade?

[Boozer]

Just opened an account with them. Also thinking about opening one with TDAmeritrade.
What have your experiences been like using these guys? I don't have a big enough portfolio at this point to deem it neccessary to use a brokerage and the $6.99 trade price is pretty appealing to me.

[topless]

Just opened an account with them. Also thinking about opening one with TDAmeritrade.
What have your experiences been like using these guys? I don't have a big enough portfolio at this point to deem it neccessary to use a brokerage and the $6.99 trade price is pretty appealing to me.I knew it! I knew you were turning into a baller!:idea:

[rrrr]

I have a play account with them......use it to buy and sell stuff for the short term.
Easy to use, and cheap. Send 'em some money to open the account and have at it. :)

[Excessive Force]

Do they have a minimum deposit?
Also what are you ballers investing in for short term?

[smoker]

TDAmeritrade gave me an IPOD last year. go figure.:D

[My Man's Sportin' Wood]

I use Ari AKA Lightning. He's the bomb. :D

[Boozer]

Do they have a minimum deposit?
Also what are you ballers investing in for short term?
If you open a cash account there is no minimum balance. If you want to do margins and options then there is an opening balance of 2000 required.
I can't speak on behalf of the ballers but I'm going to do some day trading stuff with a lot of different alternative energy companies. Its a risky deal but the pay offs can be pretty massive.

[Boozer]

bump for monday.

[jjk94]

Etrade has a quarterly fee if you don't meet some requirements

[PHOTOGLOU]

I have a MAJOR problem with E TRADE....
4 years ago I took $10,000 and Day traded it EVERYDAY win or lose 10k in 10k out... for 2 months OK made approx $3k after fees and everything.... Got a letter from the IRS 1 year ago. Seems E Trade ONLY told the IRS about the money I took out NOT PUT IN....MY Bad on not reporting the $3k Approx $50 per day.... BUT IRS looked at it as $600,000 made. Again my bad BUT I got a scary letter stating I owed $186,000 in Back taxes in 30 days This is almost over 1 year later... 3 years have been audited. and the $1500 I would have owed them turned into over $5,000 plus the $10,000+ in CPA and legal fees.
I know it is my fault but E Trade was very unco-operative with The IRS and me....

[rrrr]

Your broker reports the sale to the IRS. That's the only obligation they have.
It's up to you to state the cost basis of the original investment and report any income from the sale on your tax return.
But you know that now.......:)

[boatnam2]

[.
I can't speak on behalf of the ballers but I'm going to do some day trading stuff with a lot of different alternative energy companies. Its a risky deal but the pay offs can be pretty massive.[/QUOTE]
good luck!:D

[Boozer]

I have a MAJOR problem with E TRADE....
4 years ago I took $10,000 and Day traded it EVERYDAY win or lose 10k in 10k out... for 2 months OK made approx $3k after fees and everything.... Got a letter from the IRS 1 year ago. Seems E Trade ONLY told the IRS about the money I took out NOT PUT IN....MY Bad on not reporting the $3k Approx $50 per day.... BUT IRS looked at it as $600,000 made. Again my bad BUT I got a scary letter stating I owed $186,000 in Back taxes in 30 days This is almost over 1 year later... 3 years have been audited. and the $1500 I would have owed them turned into over $5,000 plus the $10,000+ in CPA and legal fees.
I know it is my fault but E Trade was very unco-operative with The IRS and me....
Thanks for the heads up on that Jay.

[NashvilleBound]

ETrade is kinda like the AOL of trading. Once you know what your doing you will move on to a better service. I found ETrade difficult to communicate with. Besides, after getting hosed on Enron I have realized that there are MUCH better things to do with ones money that play the stock market.

[boatnam2]

ETrade is kinda like the AOL of trading. Once you know what your doing you will move on to a better service. I found ETrade difficult to communicate with. Besides, after getting hosed on Enron I have realized that there are MUCH better things to do with ones money that play the stock market.
exactly.. when you think of the all of wealthy ass pricks that control the market and do it 24hrs a day with every tool they can plus the behind the door stuff pretty hard to come out a winner.Boy have i seen it so many times but one thing is for sure no one will listen until they lose there ass first.They just love new chumps and new money because without it well you know the story.Again good luck boozer

[bigq]

might want to think about closing that etrade account. There shares have just been cut almost in half and speak of bk word.:confused:
http://www.marketwatch.com/news/story/e-trades-shares-cut-nearly-half/story.aspx?guid=%7B2FE9802B%2DA85A%2D4674%2DA43C%2 DC3F1FE6980AC%7D

[NashvilleBound]

Almost 60%..... go figure. Trading at @$25 a few months ago.... now $3.55. Huge risk.... especially with the word "bankruptsy". Scare me........
Go take your money and put it in Real Estate or a medical clinic. Regardless of what the economy does people need shelter and medical care....amongst other things. Just that those two have excellent returns ;)

[voodoomedman]

Almost 60%..... go figure. Trading at @$25 a few months ago.... now $3.55. Huge risk.... especially with the word "bankruptsy". Scare me........
Go take your money and put it in Real Estate or a medical clinic. Regardless of what the economy does people need shelter and medical care....amongst other things. Just that those two have excellent returns ;)
So why not just buy Kaiser stock then. :D
<------Ready to stalk Nashvillebound when he's ready to move to TN so he can learn how to be a baller too.

[NashvilleBound]

So why not just buy Kaiser stock then. :D
<------Ready to stalk Nashvillebound when he's ready to move to TN so he can learn how to be a baller too.
LMAO.... (remember Im moving next month...;) )
By buying Kaiser you would just be a shareholder.... you need to be an owner, or partner, of the clinic(s). :D :D

[voodoomedman]

LMAO.... (remember Im moving next month...;) )
By buying Kaiser you would just be a shareholder.... you need to be an owner, or partner, of the clinic(s). :D :D
Yeah and you seem to forget you told me what neighborhood in case I was interested in buying there.
The Kaiser thing was a joke. I agree with your thoughts. I think stocks and stuff are good as well because you need to diversify but for the most part that is for the 401k's and retirement kinda stuff and company options and such in which you get a discount or whatever equaling instant equity. I'm not even a junior baller but unfortunately what I do have I can't have tied up in anything that's not a short term sure thing until we are moved and settled. Then I can stalk you and learn how to roll em large.

[NashvilleBound]

Yeah and you seem to forget you told me what neighborhood in case I was interested in buying there.
The Kaiser thing was a joke. I agree with your thoughts. I think stocks and stuff are good as well because you need to diversify but for the most part that is for the 401k's and retirement kinda stuff and company options and such in which you get a discount or whatever equaling instant equity. I'm not even a junior baller but unfortunately what I do have I can't have tied up in anything that's not a short term sure thing until we are moved and settled. Then I can stalk you and learn how to roll em large.
Bring it :D :D :D

[voodoomedman]

Bring it :D :D :D
Might I say stalk from a distance. I've seen your picture. I'm taller than you but only half of your circumference. :D

[Boozer]

So based on what Jay said the $3,000 he made day trading actually cost him more then $3,000 in the long run due to legal mumbo jumbo and CPA fees.
I don't have 100's of thousands to spend on buying into a medical clinic or anything like that for that matter.
As of right now I'm dumping a good chunk of change into my 401K plan and then I've been partying like a rockstar and blowing a sh*t load of money on things I shouldn't be. My goal is to take that rockstar party money and put it to work for me. The stock market seemed like the right thing to do but now you guys are making me think I should reconsider.
I've thought about getting a financial consultant but it is my understanding the guys that are any good at financial cosnulting usually want you to make a minimum investment of 15-20K before they'll even talk to you.

[NashvilleBound]

So based on what Jay said the $3,000 he made day trading actually cost him more then $3,000 in the long run due to legal mumbo jumbo and CPA fees.
I don't have 100's of thousands to spend on buying into a medical clinic or anything like that for that matter.
As of right now I'm dumping a good chunk of change into my 401K plan and then I've been partying like a rockstar and blowing a sh*t load of money on things I shouldn't be. My goal is to take that rockstar party money and put it to work for me. The stock market seemed like the right thing to do but now you guys are making me think I should reconsider.
I've thought about getting a financial consultant but it is my understanding the guys that are any good at financial cosnulting usually want you to make a minimum investment of 15-20K before they'll even talk to you.
I hear you.... lets take a small investment example here....
You have $120k to invest. You buy a home. Cash. Yes, its possible here in TN I do it all the time. Now you have a home, no debt and its going to rent for $900-$1200 depending on how nice it is. You are getting rent back AND you own a home that in this market is still going up every year. Risk?....none. If you bought one of these every 6 months or a year for three years....then 2-3 for the next 4-8 you would (could) be done with your mandatory job and just let this snowball. Be your own property manager..... I hear it can be a good gig ;) ;)
Im not trying to get you to buy out here..... but go to www.stacysparks.com and do a search for what is available in the pricepoint you might be able to afford. Just an idea... Good Luck!!
NB

[photo chick]

I hear you.... lets take a small investment example here....
You have $120k to invest. You buy a home. Cash. Yes, its possible here in TN I do it all the time. Now you have a home, no debt and its going to rent for $900-$1200 depending on how nice it is. You are getting rent back AND you own a home that in this market is still going up every year. Risk?....none. If you bought one of these every 6 months or a year for three years....then 2-3 for the next 4-8 you would (could) be done with your mandatory job and just let this snowball. Be your own property manager..... I hear it can be a good gig ;) ;)
Im not trying to get you to buy out here..... but go to www.stacysparks.com and do a search for what is available in the pricepoint you might be able to afford. Just an idea... Good Luck!!
NB
Owning rental property does pose a risk, your tenant doesn't pay the rent, you can't get a tenant, etc... R/E is an excellent investment just be sure you can afford to make the mortgage if no one is renting, obviously.
I have an Etrade account and have for about 2 years, have not had a problem yet.... Very easy to use!

[NashvilleBound]

Owning rental property does pose a risk, your tenant doesn't pay the rent, you can't get a tenant, etc... R/E is an excellent investment just be sure you can afford to make the mortgage if no one is renting, obviously.
I have an Etrade account and have for about 2 years, have not had a problem yet.... Very easy to use!
Only if you have a mortgage Photo Chicky.... :D I tired to be clear on my previous post that the ony way to buy is to pay cash. As a rental owner you know that when things go wrong and you have a mortage they go wrong all at the same time. IE.... tenant moves out.... taxes are due.... another needs a repair....ANd your payments are due all at the same time.

[photo chick]

Only if you have a mortgage Photo Chicky.... :D I tired to be clear on my previous post that the ony way to buy is to pay cash. As a rental owner you know that when things go wrong and you have a mortage they go wrong all at the same time. IE.... tenant moves out.... taxes are due.... another needs a repair....ANd your payments are due all at the same time.
:D you absolutely did.....my bad! :D I shall blame it on the lack of coffee at the time....:rolleyes:

[NashvilleBound]

:D you absolutely did.....my bad! :D I shall blame it on the lack of coffee at the time....:rolleyes:
LOL.... I feel your pain.... on my second Mocha now ;) ;) Addiction??? Nevvvvverrrrrrrr :D :D

[photo chick]

LOL.... I feel your pain.... on my second Mocha now ;) ;) Addiction??? Nevvvvverrrrrrrr :D :D
I'm on my 2nd Starbuck drip...:jawdrop: lot's of running around today! :D

[Classic Daycruiser]

I'm more of a Fidelity fan. 8 dollar trades, but I'm mostly in cash for the rest of the year, and maybe next year as well. To much going on right now in the world, and the markets as very risky, with more downside potential. I would sell into the market on up days and hold your cash. We still need another point drop from the fed to ease the credit crunch. High inflation (now a true reality) will cause more problems in profits a head.
Expect E-trade to be sold soon. (Just a hunch):idea: