Your Questions About Investools

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Charles asks…

How much RAM and video RAM is required to run IE7 and Windows XP with the major ISPs these days?

What hardware capabilities and or security should my computer have to run Investools, Scottrade, Yahoo, MSN, Comcast using Windows XP and IE7 and where would I find those requirements listed for that combination? I have 384mb RAM on this laptop and am using Windows Live OneCare. What is your suggestion? What has been your experience?

Justin answers:

512mb is good enough for smooth running ..If you like doing several thing at the same time try 1GB RAM .. If you use broadband then 1 GB is good!!! I have 1.5 GB and so far i have been able to fill 834mb of RAM only that to during playing games or watching some videos and downloading stuff online!!! 512 mb is good for low multiple task users ..By the way if you want to run 2 users (accounts) at the same time 512MB + is good

David asks…

Investment scams or a great way to invest?

I just saw another infomercial about on investing in the stock market. It was called Teach Me to Trade www.tmtt.com. I was wondering if it was the real thing or not. Others I have seen are InvesTools, Options Made Easy, Wizetrade, etc. All make it seem so easy but I know it can’t be or everyone would be doing it. Has anyone tried or checked out any of these and do they work?
My favorite part of the program was when they said all we had to was find some stocks and then follow the arrows. Green= buy, red= sell. And you can make money, it seemed that they were on to something with their software but I’m not sure.

Justin answers:

I wouldn’t listen to infomercials. They don’t guarantee you anything and may charge you lots of fees to get their program. I would take classes or do some research at the library.

Stocks can make you lots of money in a quick period of time, but you can also lose lots of money too. If you don’t know how to invest, then invest in mutual funds. Mutual funds are managed by professionals who have over 10 years of experience in the stock market.

Mark asks…

Can someone suggest a stock trading course that works. ?

I have been studying stocks and options such as call and puts, covered calls and so on. I am ready to study these areas in more detail but am not sure which product to purchase. So far I have been offered courses from Better Trades, Investools, Rich Dad Stock Success. Does anyone know which course may be the best course out of the three mentioned above?

Justin answers:

You can also make money on a “breakout”. That’s a stock that’s hitting a new trading high or low that day.
You can also make money by “scalping”, or getting a thin piece of a rapidly-rising stock’s upward momentum. Buy 1,000 shares of a $35 stock, hold it for 10 seconds, and sell it for $35 1/8.
Of course, that’s if you’re any good. Many people just don’t get it.
Jane B

Daniel asks…

What is your opinion of Investools?

I went to a seminar. It was a very nice seminar about how to use Investools and the training available and a brush over what you need to do to be a smart investor using their site. During the presentation, I was led to believe that their software is somehow linked to Yahoo software. I mention this because I have a hard time using the Yahoo Finance from time to time, getting malware or other bugs apparently that freeze up my screen and or mouse and I have to reboot. The portfolio part of Yahoo finance does not sort for me. I am concerned that if Yahoo Finance doesn’t work from time to time, I might expect that Investools might not either. They want $1999 to use their tools and site and train for it. If it works like they say it does, I would see no problem….if it makes way more than or proves itself forward testing with paper trades and then with real money trades. But back testing, people can make many things work. I think they prove the back testing in the seminar.

Justin answers:

They make it sound like all you need to do is use their software and you will make money. And when you don’t they tell you that you need addtional classes, which are not cheap. Their support is bad. It is not unusuall to wait an hour or more for help. When they are selling you products they get back to you right away, but once you have paid the quick service ends. I wasted twelve thousand dollars with them and I am still trying to pay it off. There are better softwares out there at a much more resonable rate.

Joseph asks…

Is Investools training and web access tax deductable since it is used to generate income?

Justin answers:

The IRS is going to categorize the training as an “Investment Seminar”–which is NOT deductable.

The software and service are investment expenses and can only be itemized if you have taxable investment income. See form 4952. (This feeds to the schedule A.)

John asks…

Is anyone using investools now and how does it help you with day trading?

I would like to start day trading and this tool seems to be good of teaching and indication of buying and selling points. Can you provide some feedback of you have used this tool or using it now.

Justin answers:

Don’t waste your money, the only way to learn about investing is to do it yourself. Go to top10traders.com it is a free website that gives you 100k to invest and learn about the stock market, great way to learn without risking any of your own money. Do this for at least 6 months and see if you are any good at it before trying it for real

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