I’m Glad I Don’t Own Stock
Published August 10th, 2011 | 
When I saw the stock market plummet today, I got a twinge of déjà vu . I’ll admit that I know nothing about stock trading. I tried online trading once. It was just before the tech bubble burst. I lost a couple grand.
So when I see the stock market tank, I wonder how much of those loses were the result of mobile trading through an online broker. The problem with online trading is that you are completely on your own. Yes, it is convenient to trade online. Yes, it is easier and much quicker. You don’t have to depend on a broker returning your phone calls. You just click a button, your financial decisions just a mouse click away. And it is cheaper to do online trading transactions. But . . .
. . . you are on your own. So if you know nothing about the stock market and you don’t understand how to research companies, trends, etc., you will more likely than not lose money. This is especially troubling if you’re trading on IRA accounts and betting your retirement. Word to the wise: learn stock trading before you start trading online. Otherwise, you’d be better off blowing your wad in Las Vegas.
