Also if you are not looking to rely heavily on a broker other than to record the sale , record purchase of stocks etc ?
Soooo…just be satisfied to GET IN…make some small trades…but hold for a week, ten days…see how you do…. and wait between trades…
You will be more of an " investor", but " short- term" for sure !!
If that is the case, would there be any advantage to incorporating? I would like to deduct my expenses for office equipment and technology and subscription services.
As a corp. will I have to list each individual trade as I do now on my Sched. D?
What would be the tax advantage of incorporating if any?
Dan V.
Kindly also tell me helping sites name if you know.
I am new to all these markets and looking to start with it.
I wanted to go for an Online Trading Company like India Bulls, Sharekhan etc.
I aim for being both a Long Term Investor in 2-3 Shares, and do regular Intra-Day Trading
I have seen India Bulls Charting system and found them to be good but don't know what are their Broker Charges, Account Opening Charges?
But there will be important pointers to what should also be considered while deciding on the trading platform. So here goes.
I have personal experience with ICICIDirect, HDFC Securities and Motilal Oswal. I don't trade on a daily basis and am a long term investor. So for me brokerage rates don't matter much.
For me what matters are the following:
1. Reliability of the platform -I can transact when I want
2. Correctness in transaction records, account debits, demat credits, shortfall management
3. User-friendliness of interface – you can find what you want quickly
4. Promptness of customer helpdesk in replying to emails
5. Ability to do everything from one single place – like demat account, trading account, and bank account are all managed by the same entity, so there is single place of accountability
Given all these in my experience ICICIDirect still scores the best. It has the highest no of subscribers. It used to have some transaction problems earlier, but over the past year, I cannot recollect instances where I couldn't execute a buy/sell when I wanted it. (HDFC Securities & Motilal OSwal both have miles to go on this front, systems cant keep up with the load on exceptionally high traffic days -jan 22/23). Their User interface is the best, you can locate what to do and where very fast, almost intuitively. Their transaction records are impeccable, you have peace of mind. Couldn't say the same for Motilal Oswal (I had to track and remind them to make good the shortfall when I bought and paid for 20 shares of Wyeth Pharma but demat was only for 16 after a week). And single place of accountability makes sure i deal with the same party and can get things resolved faster.
No matter what arguments you hear against, perhaps the biggest argument in favour of ICICIDirect is that they have been operating these services from 1999. That's close to a decade of experience in handling extremes of load, variety of software and technical issues, customer complaints , and have matured over the years.
The others may give you cheaper brokerage rates (and that matters if you are a day trader) but have much more to cover before they can reach similar levels of maturity as a service provider.
My 2 cents. Hope they were useful & happy investing!
From what I can tell, there are thousands of advisory services. Some I know of have several products (like schaeffer.com). Others just have one.
In any event, the number of subscribers needed is dependent upon your fixed and variable costs, not of someone elses. My startup costs are fairly fixed, so then, it's mainly x subscribers at $y to break even, and then after that, it's profit until such point I need another person to manage the flow of information, etc.
The key in differentiating yourself is your performance and your advertising. Both will get you more clients, however, your performance will help keep them.
Hope that helps!
As for theStreet.com, there is enough of that out there for free, and all the news can really be overwhelming. I wouldn't, but that's just because I have subscribed to other newsletter type services in the past that didn't enhance my return. If anything, I would recommend an education service, like spreadtradesystems. More expensive in the short-term, but huge dividends in the bigger picture.
http://cool101e.hnetltd.hop.clickbank.net/
It will focus your attention where it can do the most good (ie make money) in the least amount of time.
Whatever you end up doing I hope it helps you to reach your goals. I'm well on the way to meeting mine!