researching to get started

Reed · #1 (**permalink**) 01-28-07, 08:55 PM

Hello, I need some clarification on how these web based trade sites work. If I wanted to buy 100 shares of a given stock, is that considered 1 trade for all 100 shares and a fee of say $7 at Scottrade?

I have been looking at and monitoring such stocks as ATVE. What are your thoughts on stocks such as these?

All input would be greatly appreciated.

spncr2 · #2 (**permalink**) 01-28-07, 10:22 PM

Hey Reed. Welcome to the forums first off!

As for the transactions go, every time an "order" is filled whether its a buy or sell, it's $7. $7 per transaction. Say you buy 100 shares of stock XYZ, that means you pay $7 each time you go through the broker to either buy or sell.

Hopefully that makes sense. Do you have a scottrade account Reed? I actually have 4 accounts through scottrade. No complaints thus far and it's been about 2 years now.

Good luck in the future, hopefully we'll see ya around!

All the best,

-Spence

Reed · #3 (**permalink**) 01-28-07, 10:53 PM

Thanks spncr2, I am looking at a couple different web trade sites and yes that answered my question. I am sure I will have many more since I am as green as they come to this

but I am researching as much as I can take in weekly to get up to par.

gijoe9 · #4 (**permalink**) 01-29-07, 04:19 AM

The fee game: Every time you have a transaction it is 1 fee. If you have special transactions it can be more for each of those. Options trading for example has a fee plus commission per contract. A trade that is initiated by a limit or a stop will usualy be more than a market order. It is important to learn what the fees are and how you can incur them before you start trading. Most sites will have a complete list of transaction fees and conditions. Scot trade Online Trading Fees as Low as $7 - Stock Investing, Investments, Stock Brokers - Scottrade This is their fees if you are trading certain things they charge $27.
The main reason to get it straight on fees is if you are investing smaller sums. $7 is 7% of $100 but only .7% of $1000. Don't forget to consider that you pay when you buy and when you sell so the cost of your trade is $14. Hope that helps.

Reed · #5 (**permalink**) 01-29-07, 08:23 PM

Thanks a bunch gijoe9... I will have to study up a bunch, but I believe it will be worth it in the long run to know more now than later. This forum is great too! a wealth of information which is great for a beginner like me

gijoe9 · #6 (**permalink**) 01-30-07, 04:15 AM

Your welcome Reed. You seem to be going in a good direction asking for advice. I can't encourage you enough to take the time to educate yourself. The simulator at invetopedia.com is a good place to get your feet wet trading and it is free they also have other resources there in the education department. Ask lots of questions in these forums there is plenty of experience to draw from here it is also free.
Once you get to a certain level you will find you are helping others to learn.