Quote:
Originally Posted by Shimpy
When I initially bought them I picked a stock I wanted, then looked at the last 12 months and then picked a price somewhere in the middle of highs and lows and then waited for a very bad day in the market and bought it when it got to that price. Sometimes it got much lower than my target and I watched it every minute until I thought it was as low as it was going to go.
I signed on with Charles Schwab and use their website to watch stocks and buy at the minute I decide. You can't do that with mutual funds.
I'm by no means an expert and am only learning. I've got to say it's become a hobby with me and with about 19 stocks only have one that is down since I've bought it but hate to sell it because it's paying almost 5% dividend.
I'm not sure if there is a min. to buy stock form Schwab or others, you'll have to ask. You don't wan't want to buy every month as sometimes the market is up, so hold on to the money and wait for a bad day, which is really a good day for us. I recommend http://www.dividend.com/premium/ This site is excellent and from it I would make up a watch list of stocks you want to buy when the price is right. |
This might be a decent plan for someone with an extra 100K to invest. NOT for someone with 3k going to 10K over the next 5 years. Trade cost will eat up 5% of his investment return. Go with a target retirement fund where expense ratios are under .3%.