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I concur with using Schwab .... great site and iphone app as well imho.
I used to use Quicken to enter all of my trades but now that they require brokers to keep records of cost basis (as of 2011) I find no need to keep those records unless it is a transaction that my cost basis was before 2011. In terms of figuring your taxes you could probably use something like this:
http://www.calcxml.com/do/inc06
and plug your totals in. Doesn't your broker keep an capital gains (realized and unrealized) schedule for you as you go along? I can access this any day I need it thru Etrade.
Is there any free software/already made spreadsheet that can be used to keep track of commissions, capital gains, and gives a rough idea of taxes. Figured I would ask before I just use Excel and make my own.
or if it is under the exclusion rate, right? $250,000/$500,000 exclusion
Ok thank you. I know for real estate you don't necessarily have to pay taxes until you do not reinvest.
You pay taxes on capital gains no matter where you reinvest the gross proceeds.
Tax question. If I reinvest my capital gains from this year into a more expensive stock, real estate, etc. do I have to pay taxes on it? Thanks in advance
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That goes for Etrade and TDA too and most others. No one trading pennies should be with a broker who charges extra for large orders.
I think you should give Schwab a try because it doesn't matter if you trade penny stocks or not; the cost will be $8.95 per transaction.
Does anyone where to find brokers that deal mainly with spanish clients?
When a mutual fund prospectus, or definitive materials filed by an investment company is posted to a specific stock's news, what is this an indication of?
I get it with etrade but I am not a candelstick follower.
That is steep. The going rate for the major brokerages when it comes to new accounts is around 9.99. Once you establish yourself you can get lower commissions.
I paid scottrade 17.00 dollars in commission to purchase 7500 shares of phot is that a normal rate or should I open another account to trade penny stocks
What are the the best candle stick softwares ???
I use a news feed that my broker supplies. This isn't for small cap only but I like it for the latest news flashes:
http://www.theflyonthewall.com/permalinks/entry.php/?page=1
I'm a new small cap investor. What are the ways or websites to narrow down the best small cap news ?????
Etrade does have a few stocks that the restrict because of non dtc eligibility, but not that many because they do their own clearing.
and no dtc chill restrictions.... TD Ameritrade killed my profit potential by not allowing me to buy in on certain stocks like RIGH when it was .0002 for one....
market maker
How do I attach a pic from my iPad to a post?
I would write a letter. This way anything they say you have in writing. Start it out by saying that you opened the account over a year ago and wasn't aware that there was a rule for stocks under a buck.
Do you think I would get anywhere with there customer service line? I opened this account I'm speaking of about a year and a half ago but only bought one stock that tanked, then I started getting more into it recently and just sold my first stock (for a profit)last Friday?
I'm sure he didn't DO it... right? Etrade is a great platform for penny stocks. No extra fees, they never have chills, they're good.
Holy cow, I hope you didn't purchase any low penny stock that you bought a huge amount of. ShareBuilder will add a $0.007 surcharge per share when the average execution price per share is less than $1.00
If you did, I am sure you signed something that states you read all the fine print that probably specifically spelled out what happens if you buy stock under a buck. So my guess is that you did sign something and they legally can say "tough luck." But what I would do, is write them a letter and explain that you are a beginner trader and you really didn't understand the terms of service when you read them and if they would please consider waiving the fee and you promise not to buy any stock under a buck anymore. Don't tell them you are planning on dropping them. If you ask them for a waiver and they oblige, it wouldn't be too cool to just go and immediately drop them . It can't hurt to try. Just write them a sob story about how you didn't understand it.
I am a novice investor at best and do realize how wrong of a decision I had made with going with share builder, and plan to switch over to fidelity after a couple of my trades go through. However, I am wondering if anybody has ever gotten the sharebuilder low priced security fee waived and how did you do it.
Thank you for the info
The outstanding gets divided. The authorized doesn't have to. It is up to the company to decide if they want to adjust (lower) the authorized.
If a company amends and increases it's authorized shares then R/S, does the share count get divided by the R/S amount?
And then must the authorized be increased again?
Very good to know. Thanks. Appreciate the help.
Not really. They are about the same. Once you get past a certain threshold they lower the commission. And I can tell you this about both those brokers - if you are an active trader you can call them up and negotiate a new commission with them - I did it with both of them. You of course have to establish yourself first.
Nice. Good to know. Are the fees lower with etrade compared to td amer?
I liked Amertrade. This is why I am using Etrade over Ameritrade - the active trading tools that Etrade provides are much better than the Ameritrade tools.
Lol right. I guess margin it is then. Thinking about doing it through td using the thinkorswim platform. Any thoughts on that or preference from other users you know of?
Years ago there was no +3 settlement rules. The funniest part is that they claim they put that in to protect us. How is making me have a minimum balance of 25k protecting me? Take a look:
http://www.finra.org/investors/smartinvesting/advancedinvesting/daytrading/p005906
Yea. I'm familiar with a margin account. Was hoping that wasn't my only option. I don't even want any margin just want to trade my own money without having to hold every trade for 3 or 4 days. Guess I'll have to put back a bunch of my earning and open a margin account.
If you are going to day trade you must have 25k and don't fall below that.
I'm looking to consistently day trade. I have active trader through fidelity but that just displays things better. Is my only option to buy and sell several times a day a 25,000 margin account or is there something else out there?
And if you trade enough (30 per quarter) they give you Pro and Market Trader for free. Two invaluable platforms.
I'm going to try etrade, I've used them in the past, but not for high volume purchasing, I liked them before. Previous poster said there weren't any volume restrictions.
I'm currently using Fidelity right now since it's where my 401k is setup through my work with an individual account separate on there. I've had a thinkorswim platform setup for a while now and looking to do all my penny trading with them. Was looking for pros and cons within trading pennies to as many online brokers I haven't used before. Fidelity doesn't allow large share buys or the use of stop loss orders for pennies. Any thoughts or comments would be appreciated.
I have never been turned down for trading an order over 10,000 shares. I use Etrade. You can buy or sell as many as you want - no limit. I was an Ameritrade customer too at one time and they never limited how many shares I could purchase.
Scottrade...is only a 500 dollar buy-in minimum, so it's easy to try it out to see if you like it. Trades are $7.00+, and the only other charge that i've encountered is a $20. dollar reorganization fee if your stock gets caught in a RS.
Nope, just looking to trade high volumes with cash accounts, thanks!
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