Buying Shares Of Stock Without A Broker

You are buying shares today! Congratulations!

You did all your homework. You were tired of those IRA managers ripping you off. You were tired of paying all those fees and watching your profolio drop every month. So you are going to do it yourself. You might as well. If your stock investment is going to decrease in value, there is no reason to pay a fee to someone who is costing you money.

You asked your investor friends who seem to be doing well in the market what they do. You asked who they used for a stock broker when they are buying shares of stock. You asked how they decided what stock to buy and how long to hold that stock. You checked into the different kinds of stock brokers and decided to go with a online discount broker. Buying shares is what you will do. You just need a broker to go through. Online discount brokers offer the best rates, anyway, because you do all the work of finding the stock and buying shares.

You researched the different stock brokers that were referred to you. You asked how much the fees were for a stock trade. You asked what it cost to wire money into and out of an account with them. You asked if they paid interest on the investment money just sitting in an account. You got a list of the other costs they charge.

You opened an account with a stock broker, one of the those that let you place your own orders. You filled out some paperwork, just like you were opening a checking account. You got an account number and wired in the investment funds you have left. You did that last week, because you know it takes a few days to set up everything.

Now you sign onto the webside of the broker. You enter your account number and password. The trading platform comes up. This is it, this is the moment you have been waiting for. You are buying shares.

All that work and all that research comes down to this. You spent hours reading fiancial papers, researching companies and considering endless details. You are in the drug business and you know that company is lean and growing. You read they are waiting for approval on a new wonder drug. You checked their financial reports.

Today you are buying shares, 100 shares, in fact. If the approval comes in, you will sell half of stock when you reach your first market target. You will keep 50 shares. If the approval does not come, you will put all your shares into the long term investment. It is a young company with a lot of potential to you a lot of money.

Since you took over your IRA and are actively investing your money, you have a short term plan, a medium term plan and a long term plan. You are starting with an industry you know. You will grow with your investments.

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