Your Questions About Paper Trading Etrade

Mandy asks…

I have a stock on paper and an etrade account, how do I get it into the account??

I have stock on paper and would like to transfer it into my e-trade account. Is this possible, and if it is how do I do it??

John answers:

Contact etrade customer support. Tell them that you have stock certificates that you want to lodge into your account with them.

Have a nice day!

Http://jsforex.blogspot.com
Jim Syyap – Managed Forex Accounts

Michael asks…

Tax question for 2008 taxes?

I turned 18 in November 2008. While I was 17, from June to August, I worked in a camp and got paid $550 before tax.
After I turned 18 I opened up an account with etrade for stock trading, and I purchased 280 shares of a stock, costing me $480. I did not sell the shares yet and do not plan to until I start making money off of it.

Do I need to file for taxes, and if I do, do I need to give them the tax paper from etrade? I think I made 1 cent of interest from them since that’s what it stated in the tax report.
Also, my bank HSBC sent me a tax report and it says that I made about $50 from interest.

Please advise on what to do with tax, as to whether or not I need to file and what papers do I need to give an accountant.

Also, can I file on turbotax.com instead of using an accountant?

Thanks

John answers:

You do not file taxes. Income is too low

Donald asks…

Share picking advice for ASX please.?

I have been paper trading for a couple of months now and I was wondering whether anyone could suggest an easy way to pick shares, either with strength (long) or weakness (short)?

It would be a bonus if the share picking systems suggested considered some basic fundamentals.

I know you need to spend money to make money, but if the system involved the use of free or at least reasonably priced methods – that would be the greatest bonus of all!

For example, just browsing through some Youtube videos I found an example where a guy uses the U.S. version of Etrade’s CLEAR STATION site (which is free to join but which only sorts through U.S. stocks):

He is able to quickly (and for free) pick stocks which:

1. Have just had a record price breakout

2. Have done so on increased volume

3. Have a P/E ratio which is below the average for the industry group.

This system also has the benefit of being able to click a “bulk charts” link which brings up largish thumbnails of charts of the chosen stocks, all on the same page. You can then quickly scan for stocks which suit your personal, technical setup.

Another video has a guy using Google Finance to help pick stocks (again, only U.S. stocks):

Here, stocks are chosen (quickly and for free) which fit the following criteria:

1. Have had at least a 100% 52 week price change

2. Have a minimum last price of at least $10 and a maximum of $50 (less volatility)

3. Have a minimum average volume of 200,000 shares

So, I guess I was wondering whether anyone had a setup like this for the Australian market, which may or may not consider basic fundamentals, but which is free (or at least not prohibitively expensive)?

Thanks a lot.

Peter.

John answers:

I suggest you study the investment habits of the world’s top investors such as Warren Buffett, Peter Lynch and John Templeton. All of them had one thing in common: They placed a lot of emphasis on value investing. I know of no one in the Forbes 400 rich list who made their money by using price/volume analysis.

I personally prefer smaller companies at good value and long profitable track records (such as UCW and NBL). It is impossible for large institutions who have billions of dollars to make meaningful investments in these companies. Their directors also usually have a large stake in the company so they have a bigger incentive to reward shareholders. That is why many small caps provide superior investment opportunities for individual investors.

Nancy asks…

How to make money online?

I am a current college student I am very hard working I am currently employed on my vacation from school.However, given that christmas is coming it would be really nice to have an extra say 100$ in the bank. When I get back to school its back to being poor penny-less college student. I would really like a way to earn some extra cash. I am very computer savvy and I have been trying to see if there is a legitimate way to get a job online. I have started ebaying some things but that is not a source of income. I was thinking about doing some highly speculative trading via etrade again very risky. The only other alternative I can see is either a magical online job that I can I don’t know submit papers or programing code or CAD drawings (all of which i can do) over the internet to some employer.If anyone has some input on any of these options please let me know.

Disclaimer

Scamers I am not stupid and karma will bite you in the ass one day

John answers:

Best Answer – Chosen by Voters

Hi, forget all the ads you read here offering you the chance to get easy money, they don’t work and all they are is to draw you in to what could best be described as an on-line scam. Just think about it for a moment, if you could make money as easy as what these people would suggest then we’d all be doing it then who would do the real jobs in society like the street cleaners, bus drivers etc.,try to e-mail these people, they all have their e-mails blocked so you can’t contact them, hmm, I wonder why? Besides, if anyone does make a lot of money from them do you think that they would be telling you about it? No, would you?

Joseph asks…

new stockbroker?

Do people even use stock brokers anymore or is it mostly web site (discount brokerages) such as etrade? Do you always have to start out by cold calling? Final question, what aspect of the stock market pays the most? Is it being on the actual trading floor? BTW what is they do on the floor? They can’t be putting in every market order from web sites, why don’t they just trade on the web? What is the rationale behind everyone running around and screaming throwing pieces of paper? Isn’t there a more efficient way of doing this? Please answer all questions

John answers:

Q:Do people even use stock brokers anymore or is it mostly web site (discount brokerages) such as etrade?
A: Not many use brokers anymore.

Q:Do you always have to start out by cold calling?
A:Yes.

Q:What aspect of the stock market pays the most?
A: Mergers and Acquisitions. The wheeler and dealers make the most money.

Q:BTW what is they do on the floor? They can’t be putting in every market order from web sites, why don’t they just trade on the web? What is the rationale behind everyone running around and screaming throwing pieces of paper? Isn’t there a more efficient way of doing this?

A: See the following article on floor trading …

Http://www.iht.com/articles/2005/05/19/business/floor.php
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