Question about long investing!
Stock Market Education
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Nov 3rd, 2009, 03:57 PM
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#1
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HSM Newbie
Join Date: Oct 2009
Posts: 7
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Question about long investing!
I'm just confused about how you can hold a stock for months-years at a time. My broker only allows me for a maximum of 30 days. I find some confusing information but doesn't help me at all!
Please explain! 
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Nov 3rd, 2009, 06:45 PM
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#2
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HSM Regular
Join Date: Jul 2009
Posts: 211
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Who is your broker... My on-line broker lets me hold as long as I want..
You may need to make a change.
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Nov 3rd, 2009, 06:49 PM
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#3
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Moderator
Rank: Senior Analyst
Join Date: Oct 2006
Location: albany ny
Posts: 6,700
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Quote:
Originally Posted by Chantzyg
My broker only allows me for a maximum of 30 days.
Please explain! |
i would question that a bit but if its true
time for a new broker...
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Nov 3rd, 2009, 07:20 PM
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#4
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HSM Addict
Rank: Stock God +(½)²
Join Date: Apr 2002
Posts: 15,936
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Chantzyg is confused, there is no broker that does not let you hold a stock forever. He/she probably confused either buying a stock on margin with additional funds being required... my guess.
__________________
- Success occurs when preparation meets opportunity.
- A rich person is not one who has the most, but is one who needs the least.
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Nov 3rd, 2009, 09:38 PM
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#5
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HSM Newbie
Join Date: Oct 2009
Posts: 7
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I currently use QuesTrade, as I live in Canada, there is so little to use, and not much competition for brokers. The start up cost is $1000 to open an account, and I selected no-margin account, but they still give me 3 to 1 for buying power/margin.
I also have seen some places that QuesTrade really isn't that good...hmm
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Nov 3rd, 2009, 10:12 PM
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#6
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HSM Addict
Rank: Stock God +(½)²
Join Date: Apr 2002
Posts: 15,936
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Canada? You make it sound like you live in Swaziland.
There are tons of brokers for you to use.
Scotia Itrade, BMO, CIBC, TD Waterhouse, Interactive Brokers, ThinkorSwim... and thats just off the top of my head.
There is no such thing as 30 day holding period for a stock. Some of them will have an account minimum because it really makes no sense to try start trading with anything less than $2000 - $3000 in my opinion.
It sounds to me like you really need to take some time to learn exactly what you are getting into here, browse these boards, look in the education section, read the important threads that are "sticky".
I strongly suggest you spend the next few weeks studing up on trading before you put any money into the markets!
__________________
- Success occurs when preparation meets opportunity.
- A rich person is not one who has the most, but is one who needs the least.
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Nov 4th, 2009, 08:43 AM
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#7
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HSM Regular
Join Date: Jul 2009
Posts: 211
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Quote:
Originally Posted by StockJock-e
Canada? You make it sound like you live in Swaziland.
There are tons of brokers for you to use.
Scotia Itrade, BMO, CIBC, TD Waterhouse, Interactive Brokers, ThinkorSwim... and thats just off the top of my head.
There is no such thing as 30 day holding period for a stock. Some of them will have an account minimum because it really makes no sense to try start trading with anything less than $2000 - $3000 in my opinion.
It sounds to me like you really need to take some time to learn exactly what you are getting into here, browse these boards, look in the education section, read the important threads that are "sticky".
I strongly suggest you spend the next few weeks studing up on trading before you put any money into the markets!
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I agree
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Nov 4th, 2009, 09:23 AM
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#8
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HSM Enthusiast
Rank: Junior Analyst
Join Date: Jan 2007
Location: Canada
Posts: 776
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Quote:
Originally Posted by StockJock-e
Canada? You make it sound like you live in Swaziland.
There are tons of brokers for you to use.
Scotia Itrade, BMO, CIBC, TD Waterhouse, Interactive Brokers, ThinkorSwim... and thats just off the top of my head.
...
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I made a list in this thread -
http://www.hotstockmarket.com/forums...06&postcount=4
So I'll be lazy and copy it here as well:
Quote:
Originally Posted by Marty
[...]
Some brokers offhand:
Discount brokerages: Bank "Direct Investing" Brokerages: *** not accepting new accounts till after full merger with TD Waterhouse
There's plenty other discount brokers that offer Canadian Accounts... this is just off the top of my head.
[...] |
__________________
...if you have not guessed, my name's not really Marty. Though, Jack Larkin could have told you that. 
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