Geting ready to buy first stock, need your advice

[Lovac]

Hello guys,

I opened up a ETrade account, i have 3000 dollars to play with there. Over the last week i have been reading Real Money by Jim Cramer just to get some idea how things work out there.

On Friday i saw stocks go down and i wanted to invest in GE stock which closed at 17.83 on Friday. My question is, since now is Saturday night, if i place that order now will it go through for 17.83 this moment or will i have to wait until Monday when the market opens for the order to go through?

I wanted to put 1500 down for GE.

:withstupid:

[Gordo]

Put your money in a high interest savings account. Stocks aren't where you want to be right now.:welcome:)

[Lovac]

Put your money in a high interest savings account. Stocks aren't where you want to be right now.:welcome:)

I thought now that they are cheap it would be good idea to buy. :)

[Gordo]

I thought now that they are cheap it would be good idea to buy. :)

Its your money. I'm just telling you what I think. You could be right, but I think stocks are going lower.

[Lovac]

Its your money. I'm just telling you what I think. You could be right, but I think stocks are going lower.

Thanks i agree with you they could go lower, i'll see how things play on Monday and go from there. :D

[danks]

i think you should read more about the market and investing. Now would not be good to just jump in and see how things work!

[srm555]

I agree with the other posts that this is an extremely difficult market to trade right now. But that is not what you asked. If you put in a limit order to buy the stock at 17.83 and it opens lower, you will get the stock at the lower price at which it opens. If the stock opens at 17.84 and goes up from there, your order will not fill. If you put in a market order (generally not a good idea), your order will fill at whatever the opening price is. Be sure you know the difference between a limit and a market order.

[Lovac]

Thank you guys, yeah i dont like the idea of buying at market order, it seems like unless you are really want the stock you stay away from market orders.

Anywho since i posted this post, i bought 5 shares of apple at 95 and just sold them for 105. Made my first profit of ~50$. I just wanted to test the whole process of buying and selling and see if it was as easy as i thought it was.

Its hard to trade even for a beginer like me i feel like anything i pick now i can lose money, but maybe this will get better at least from what i can see today and yesturday. :)