By Suzanne H., Sr. Social Media Specialist and Guest Blogger
According to our recent American Investor Study, investors are feeling more skilled when it comes to making their own trading and investing decisions. The number of investors calling themselves intermediate or advanced when it comes to making their own investment decisions, increased 6 percent to 61 percent in 2012.
It takes research, practice and time to develop the skills needed do-it-yourself, or DIY, but for many investors, like our client, Victoria W., it’s worth it. Here’s what she had to say about being a do-it-yourself investor and some other reasons people DIY.
Saying No to High Fees and Commissions
One of the primary reasons some people become DIY traders or investors is cost. Trading can get expensive in a hurry if you’re buying and selling stocks at $35 trade and it eats into your returns. Paying such high fees and commissions may not make sense for you; especially, when you are trading frequently.
Calling the Shots When It Comes to Investing
Another reason people choose to become DIY traders or investors is because they want to be in control, and decide what stocks to buy and how long to hold them. Rick W., another Scottrade client, said it best when he shared on our Facebook page why he’s a DIYer:
Access to Real-time Market Information
Convenience also plays a role in why some people choose to DIY. Doing your own research to find out how to trade or what to invest in has never been easier or more accessible. There is so much information available online about stocks and technical analysis. Do-it-yourselfers even have the ability to set up alerts to receive real-time notifications about what is happening with a particular stock, index or order. Having such information at any time, even on the go, has allowed DIY traders and investors to be more responsive to market changes.
Why are you a DIY trader or investor?
Suzanne H. has been with Scottrade since January 2012. She oversees the Scottrade Blog, supports social media initiatives and manages the content on About Us.
Articles, commentary, and opinions expressed on this site are those of the author and not necessarily those of Scottrade. Scottrade does not guarantee the accuracy of, or endorse, the views or opinions of the author.
The examples and strategies described in this blog are for information purposes only and their use does not guarantee a profit. None of the information provided should be considered a recommendation.
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