The Money Mustache Community
Learning, Sharing, and Teaching => Ask a Mustachian => Topic started by: LTDL on June 27, 2016, 03:09:22 PM
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Hi Folks~
Any experience and/or advice in regards to using ETrade, Scott's Trading etc...?
We have about $20K to invest, and since the market is down, we thought it might be a good time.
Is there a good platform that would offer basic day trading opportunities along with good long term portfolio management?
We are also interested in Betterment and Vanguard, and are still trying to understand the benefits of investing with different entities.
Thoughts would be appreciated! :)
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My personal opinion, is that day trading is way too much effort and fees will eat away the profits in the long term. But again that's just my personal opinion.
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jlcollinsnh.com/stock-series/ (http://jlcollinsnh.com/stock-series/)
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^^^^ this go read it learn it put it in vanguard and enjoy life. Day trading is for suckers.
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Agreed. Index funds are the way to go. Day trading is a lot of hassle with more risk.
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^^^^ this go read it learn it put it in vanguard and enjoy life. Day trading is for suckers.
Note also that "vanguard" is better than "invest it in vanguard funds through E*Trade".
(a) E*Trade doesn't let you invest in the Admiral shares funds that have the lowest expense ratios;
(b) They ding you $19 per trade to get in and out, and vanguard doesn't.
Those little things add up. My experience is also that vanguard's funds transfers are
also faster than E*Trade's.
(I have both - I had an E*Trade account going back to 1999 from before I knew better.
I'm in the process of moving my last account away from E*Trade.)
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Vanguard - they have some of the lowest fees in the business. And some great customer support, and a fantastic website.
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^^^^ this go read it learn it put it in vanguard and enjoy life. Day trading is for suckers.
Note also that "vanguard" is better than "invest it in vanguard funds through E*Trade".
(a) E*Trade doesn't let you invest in the Admiral shares funds that have the lowest expense ratios;
(b) They ding you $19 per trade to get in and out, and vanguard doesn't.
Those little things add up. My experience is also that vanguard's funds transfers are
also faster than E*Trade's.
(I have both - I had an E*Trade account going back to 1999 from before I knew better.
I'm in the process of moving my last account away from E*Trade.)
yep i opened an Etrade account when i was 10 - 19 years ago - moved my Roth the vanguard 2 years ago and my taxable account i just had to finally liquidate for a house down payment. my wife's roth is still in etrade b/c i've been too lazy to roll it over. cost is 10 bucks per year to buy VTI - note that while you cant buy admiral shares at etrade you can buy the ETF's which have the same exp. ratio at the admiral funds. But if i were starting from scratch i'd just open it at vanguard and call it a day.
OP you really need to dig into the forums here and possibly at boggleheads to learn that day trading is just gambling and you will likely lose against the market in the long run. Even Actively managed funds dont be the market consistently enough to be valuable so what makes you think you can beat it.
The Oracle of Omaha(Warren Buffett) himself said that people who arent him should just invest in index funds with vanguard, and thats where his wife's money would go when he passes