Worst Joke Ever 2024

[thaibutty]

I am going to start investing in the stock market very soon and looking for a good stock broker. I would like to buy US ETF's that track the Dow and S&P500, and once identified maybe some individual stocks. My investing horizon will be long term. Additionally, I would also like to do the same on the German stock market, as I am German.

Being based in Thailand and working and travelling a lot all over Asia, I could also think of having a closer look at some of the Asian markets in the future. As to the Thai stock market, as I understand it is very good for day trading, but less for a longer perspective, correct me if I am wrong.

I understand that the local brokers are only good for buying Thai stocks, which I am looking into as well.

I was looking to invest around 1,000 $ each 3 times a year, which is what I can afford to put away from my salary.

Now, does anybody know a good online broker, with reasonable prices that is good for my purpose? I already checked Interactive Brokers, but there minimum account of 10,000 EUR is too much for me at this point. Being no US citizen, I can't open an account with many of the US brokers and the German brokers are very expensive for US stocks.

Looking forward to any advice!

THanks

Edited July 9, 2010 by thaibutty

[manarak]

I'd say save up your money and then get an account with IB as quick as possible.

I'd use the occasional 1000 USD to make small business deals, this will yield money more quickly than if you put it in a brokerage account, especially if you just invest in some stocks and index trackers which probably won't yield more than 20-30% in a year.

[schlog]

IB is the best solution if you have the money.

Till you have it use Flatex ,RBS, onvist....... up to you. With your amount you will make maybe 6 trades a year, so never mind if you have costs of 5 or 6 Euro each trade. IB 5 Euro..-.Flatex 6,50 Euro or for some XXL free, so only spread.

For more info BM.

[nakachalet]

IB is the best solution if you have the money.

Till you have it use Flatex ,RBS, onvist....... up to you. With your amount you will make maybe 6 trades a year, so never mind if you have costs of 5 or 6 Euro each trade. IB 5 Euro..-.Flatex 6,50 Euro or for some XXL free, so only spread.

For more info BM.

pls explain why poster can only make maybe 6 trades a year....? thx

[thaibutty]

I'd say save up your money and then get an account with IB as quick as possible.

I'd use the occasional 1000 USD to make small business deals, this will yield money more quickly than if you put it in a brokerage account, especially if you just invest in some stocks and index trackers which probably won't yield more than 20-30% in a year.

Thank's to all for your advice!

Manarak,

could you explain, what exactly you mean by small business deals!?

To be honest I would be quite happy, if I could get a 20-30% yield in my first year. My plan would be to have the 10,000 USD within the next 2 years and start trading more intensively. However, until than I would go for ETF's as a safer bet and get a feel for the market, while learning to analyze companies properly and get better with technical analysis.

If I can have a 20-30% return on the first 2-4000 $ invested would be great!

Would you say that my plan sounds reasonable?

[manarak]

I'd say save up your money and then get an account with IB as quick as possible.

I'd use the occasional 1000 USD to make small business deals, this will yield money more quickly than if you put it in a brokerage account, especially if you just invest in some stocks and index trackers which probably won't yield more than 20-30% in a year.

Thank's to all for your advice!

Manarak,

could you explain, what exactly you mean by small business deals!?

To be honest I would be quite happy, if I could get a 20-30% yield in my first year. My plan would be to have the 10,000 USD within the next 2 years and start trading more intensively. However, until than I would go for ETF's as a safer bet and get a feel for the market, while learning to analyze companies properly and get better with technical analysis.

If I can have a 20-30% return on the first 2-4000 $ invested would be great!

Would you say that my plan sounds reasonable?

I'm a former broker/trader.

Unless you are exceptionally skilled or exceptionally lucky, in your place I wouldn't try to "get a feel for the market". Never works.

The market is all trends and trend breaking, i.e. you will be right for some time and then you'll be wrong and lose a big chunk.

Make some diversified, long term investment decisions based on fundamentals.

Do your homework on the fundamentals, or have someone you trust do it for you.

Trouble is, with 1000 USD, you can't do any diversified investing.

One solution is as you said using index certificates.

A problem with these things is that I don't see the markets making big recoveries in the next 3 years, and in order to achieve good returns on indexes, you need good timing, which is the most difficult thing to do.

Or use warrants for more leverage and if you are sure about what you do, but it is risky.

And if initially right, you will tend to trade more and more only to lose everything back to the market in the end.

...

So I would use these 1000 USD for small business deals.

For example (stupid example, because I assume you are in Thailand and are not allowed to do that): if you had bought some chinese-made plastic Vuzuvelas for 300 USD wholesale, I'm pretty sure you could have doubled your money by then selling them retail to some drunk farang and Thai watchers.

If you travel, you can bring with you some products that are cheaper in Thailand and sell them to friends who need the products.

If you have some technical skill, you could buy some damaged stuff, replace/repair the damaged parts and resell them.

A friend of mine buys Iphones abroad and sells them unlocked in Switzerland.

[thaibutty]

Thank's Manarak,

I see what you are getting at with the "get a feel for the market", my plan was anyway to look for long-term growth rather than going at day trading directly. I've already lost a little with stupid bets in Forex with a little technical analysis and a lot of "gut feel" that went the wrong way. So I know I have to study more

If in your opinion the markets will not really recover in the next 3 years, than I could try to do some trading in the longer time frames and trade on the up and downs of the market, with technical analysis.

Or would the transaction costs be to high for my trading amount?

For the long term strategy I will try to do the fundamental analysis, I got some books and am working myself into it.

I understand what you mean by small business deals, I am already selling products from Thailand to Europe and have another thing I am starting now.

Does anyone know if it is possible to invest long-term in the SET or is it more suitable for Day and Swing Trading?

[sokal]

I'd say save up your money and then get an account with IB as quick as possible.

I'd use the occasional 1000 USD to make small business deals, this will yield money more quickly than if you put it in a brokerage account, especially if you just invest in some stocks and index trackers which probably won't yield more than 20-30% in a year.

Thank's to all for your advice!

Manarak,

could you explain, what exactly you mean by small business deals!?

To be honest I would be quite happy, if I could get a 20-30% yield in my first year. My plan would be to have the 10,000 USD within the next 2 years and start trading more intensively. However, until than I would go for ETF's as a safer bet and get a feel for the market, while learning to analyze companies properly and get better with technical analysis.

If I can have a 20-30% return on the first 2-4000 $ invested would be great!

Would you say that my plan sounds reasonable?

You will never get 20 to 30% especially in your first few years, I will guarantee that. None of the hedge fund titans can even get that kind of return.

You are entering a snake pit. It will take you a year to get hardened up, most people don't survive the first year. My friend started investing last summer, he opened an account and started buying. He did alright for the first few months because of this bogus rally. I just sat back and said nothing because I knew he would get the wake up call. He got slaughtered by the flash crash and when the Hang Seng tanked, he cashed most of his money out. Just another guy that couldn't handle it.

You should stick to long term investing and focus on nothing but dividend yield and large cap stocks. If a stock does not pay a dividend then don't buy it. You must get used to seeing and accepting unrealized losses because if you get too emotional then you will fail miserably.

I would suggest http://www.europac.net/because you can buy stocks and bonds from any market without using pink sheets

Edited July 12, 2010 by sokal