Just starting out, need advice PLEASE! :o)

[Daryl6222]

Ok new to investing in stocks, just signed up for an e-trade account.

Anyone have expereince/comments about an e-trade account? I have a cash account.

I want to trade penny stocks initially. How long does it typically take to get your stock sold?

Can you buy stock when the market is closed? Or do I need to wait until the market opens in the morning?

If I bought a penny stock for .001 cent and it goes up to .003 in two hours, what are the chances I can sell quickly to utilize the profit? And how delayed is e-trade in selling, or in general?

I also live in California, what time does the market actually open? 8am eastern time?

Any help is greatly appreciated! :D

[MaryKay1965]

Ok new to investing in stocks, just signed up for an e-trade account.

Anyone have expereince/comments about an e-trade account? I have a cash account.

I want to trade penny stocks initially. How long does it typically take to get your stock sold?

Can you buy stock when the market is closed? Or do I need to wait until the market opens in the morning?

If I bought a penny stock for .001 cent and it goes up to .003 in two hours, what are the chances I can sell quickly to utilize the profit? And how delayed is e-trade in selling, or in general?

I also live in California, what time does the market actually open? 8am eastern time?

Any help is greatly appreciated! :D

Market opens at 9:30 AM EST. I don't have an e-Trade acct. (I use Zecco) so I can't help you there.

Daryl, you're lucky I'm getting to you before Aiki does. (You'll just have to trust me on this one.) :confused:

For your sake (and ours) please take a few days, YES DAYS, NOT SECONDS/MINUTES, and read some of the previous posts here. Use the "search" button if you need to, but I'm sure just about every one of your questions has been answered numerous times before. This is an excellent forum for opinions and very sound advice, but please, take it from me, spend a little time doing some research on past topics/comments. Also this site: http://www.investopedia.com/ will answer almost any newbie, as well as advanced trader, questions you may have.

Welcome to the OTF.........:proud:

[aiki14]

Ok new to investing in stocks, just signed up for an e-trade account.

Anyone have expereince/comments about an e-trade account? I have a cash account.

I want to trade penny stocks initially. How long does it typically take to get your stock sold?

Can you buy stock when the market is closed? Or do I need to wait until the market opens in the morning?

If I bought a penny stock for .001 cent and it goes up to .003 in two hours, what are the chances I can sell quickly to utilize the profit? And how delayed is e-trade in selling, or in general?

I also live in California, what time does the market actually open? 8am eastern time?

Any help is greatly appreciated! :D

MaryKay answered your questions so I am gonna give you some advice, you can thank me later.
If you opened an account, before you could answer the questions you posed, you are off to a very bad start and your best hope is that you created your account password while heavily intoxicated and won't remember it.

Here's a multiple choice question:
A)Start out with penny stocks, make your donation to the piranhas in that arena, or
B)educate yourself and start sensibly.
If you answered A, or it took more than 10 seconds to answer B, you're probably gonna learn pain in new and wondrous ways in the market.

You can't buy a stock at .001 cent as the lowest price is $.0001 Which is .01 cent. But for your example try this:
If you buy a penny stock at .001 dollars and 2 hours later the company goes out of business, how long do you have to work at your real life job to make up the money?

You can in fact buy stocks while the market is closed, this is called extended hours, after or pre market trading, ECN trading, or monetary Hara Kiri. Bid ask spreads, and low liquidity, make this type of trading even more difficult than regular session trading.
You can not usually buy penny stocks in the extended hours sessions.
You can place orders when the market is closed for execution during market hours. I hope this is what you meant when you asked the question.

E*Trade is fine and will serve you as well as any of the discount brokers.

Imagine you're a beginner chess player and you go up against a master, and every time you make a mistake you get hit with a stun gun, and every time you lose a game it costs you money. And the master players are lining up to get your money and all the stun guns have fully charged batteries.

One last thing, todays market is as challenging as any I've seen in my 30 yrs of investing. Tough time to start. If you think this is bashing the newbie, send some people you don't know a bunch of money so it'll be more realistic of what you can expect in this market.

Good luck

As a post script to Mary Kay, that was very cynical of you. :wink:

[iwasakib]

aiki,

as usual, your posts get a very valid message across with being mildly entertaining. Although this stuff seems to be highly repeated in many posts, material I've read posted by you has been, from what I can tell, very informed. You seem to have a fair amount of experience in the market place. After reading some of your blogs, I'd really appreciate it if you would post different topics on your blog on a more often basis.

Not trying to hijack this thread, I think the question has just been summed up in a single post, and I didn't want to start an "omg aiki is the greatest" thread.