ETrade and Playing the Stockmarket.

[Bathsheba]

Just noticed a banner ad for eTrade. My DH has used this for years. It's a very powerful tool. I think however the ad should have an asterisked caution message. Playing the stockmarket can be as risky as gambling. DH does it wisely and as a trained financial advisor and banker. He has access to alot of peer support and sanity checking through his work that the average punter wouldn't. The ad implies that you can do it yourself and be just as successful... just be careful with doing that... ok

[Jaycee]

Bath, I definitely agree with what you're saying, but a self taught trader can be just as good as someone who has qualifications, just takes a lot of research! My dad tripled his investment within a few years on the stockmarket, just before he passed away. I'm now studying to become a financial advisor and I so wish he was here to bounce ideas off of. I wish I had of taken the time to learn from him before he died, but hey, I was only 18 and not a care in the world back then!

[allycat06]

It most definitely can be like gambling, especially day trading! I agree with you GG you don't necessarily need any qualifications to do well, sound judgment and knowing what's a good risk and what isn't helps alot

FWIW ETrade is a total rip off, so many other broking sites that are just as good yet less expensive.

[Bathsheba]

I think DH has access to eTrade Pro for free through the bank. The reason I give the warning is because DH is finding that many of his amatuer trader clients are loosing money due to inexperience and greed. The most basic of advice is to at the very least stick to top 100 ASX companies unless you are very experienced. Yes they are expensive but they significantly diminish risk. DH had done ok so far but has also witnessed colleagues lose big. These fellows (DH's work mates) are on good incomes and can afford a bit of play money... but for a Mum & Dad investor, typically in their vulnerable retirement years... or for a young family starting out it can be a very risky thing to do unless you have several thousand that you are prepared to lose.