What is the best app to use for trading stocks?

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INTRESIS
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Joined: Sat Nov 15, 2014 12:39 pm

What is the best app to use for trading stocks?

Post by INTRESIS » Sun Nov 12, 2017 8:44 pm

I want to invest in Amazon and Google stocks.

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birdog
Posts: 125
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Re: What is the best app to use for trading stocks?

Post by birdog » Sun Nov 12, 2017 8:47 pm

Back in my trading days I couldn't find anything better than TD Ameritrade's app.
The height of cultivation always runs to simplicity -Bruce Lee

munemaker
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Re: What is the best app to use for trading stocks?

Post by munemaker » Sun Nov 12, 2017 8:59 pm

The best way to own these stocks is through a stock index fund that holds them. You get the benefits of owning these stocks plus good diversification. Forget about trading them. Hold the index fund for the long run. You will be better off.

INTRESIS
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Re: What is the best app to use for trading stocks?

Post by INTRESIS » Sun Nov 12, 2017 9:02 pm

I'm thinking either Robinhood or Fidelity.

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arcticpineapplecorp.
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Re: What is the best app to use for trading stocks?

Post by arcticpineapplecorp. » Sun Nov 12, 2017 11:19 pm

Some thoughts to consider. I'd love to hear what you think to these questions:

1. Why Amazon and Google (as opposed to other stocks)?

2. Do you think you know something about these stocks that nobody else doesn't know?

3. Don't you think what everybody already knows about these companies is already baked into the price of those stocks?

4. What do you think is easier: an almost $1 trillion company like Apple becomes a $2 trillion company or a $1 million company becomes a $2 million dollar company?

5. The only reason to buy individual stocks is because you believe those stocks will outperform the market. Otherwise, you'd buy an index fund and get the return of the market. But to buy an individual stock not only means you believe it will beat the market, you also believe it will do better than all other stocks you could choose. Otherwise, if you thought another stock would do better, you'd choose that one. So do you really think Apple and/or Google will be the best stocks of all possible stocks going forward, bar none?

6. If you're buying these stocks from another you think they'll go up (otherwise, why buy them now? Buy them later at a cheaper price). On the other hand, the seller thinks the stocks will go down, not up (otherwise why would they sell them now? They'd sell them later for a greater profit). You think they'll go up. The seller thinks they'll go down. Only one of you can be right. That's called a zero-sum game. You don't have this when you buy the market. Are you feeling lucky? Do you realize that since 90% of all individual stocks are owned by institutional investors they will likely outsmart you? What makes you think you're smarter than institutional investors?

7. you say you want to buy stock, but your post asks where's the best place to "trade" stocks. So are you looking to trade (i.e., frequent buying and selling)? Or buy and hold?

8. Do you have enough saved for retirement and now you can play with money you can afford to lose? If not, then keep investing (buying the total market) and stop speculating/gambling with individual stocks.
"Invest we must." -- Jack Bogle | “The purpose of investing is not to simply optimise returns and make yourself rich. The purpose is not to die poor.” -- William Bernstein

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JupiterJones
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Location: Nashville, TN

Re: What is the best app to use for trading stocks?

Post by JupiterJones » Mon Nov 13, 2017 10:24 am

I recommend this app.

It doesn't have anything to do with finance, but it will give you something to do while you wait for the urge to invest in single stocks to pass. :D

Ah, but seriously folks... the post above makes some great points that are well worth considering.
Stay on target...

oilrig
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Re: What is the best app to use for trading stocks?

Post by oilrig » Mon Nov 13, 2017 1:11 pm

You can google it and find a comparison of transaction fees for the various brokerage sites. Go for the cheapest one. Personally, I use Tradeking (now owned by Ally), it has the cheapest trade fees at $4.95 per trade. Most of the big brokerages were advertising $7-10/trade.

MittensMoney
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Re: What is the best app to use for trading stocks?

Post by MittensMoney » Mon Nov 13, 2017 1:18 pm

If you only want to trade Amazon and Google then I'd suggest Robinhood. It's free to trade. The App doesn't offer much else besides buying/selling shares but you can't beat the price.

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