Homesteading Forum banner

Be Careful When Buying Stocks

175 views 8 replies 7 participants last post by  devron388  
#1 ·
I was looking for a floating rate fund to buy. The 1st ones I looked at were $1, so if I bought 5000, it would cost $5000. I finally found one I wanted to buy and put in an order for 5000. I wasn't paying attention and bought over $100k of the fund because the shares were over $26, not $1.

I saw immediately what I had done, and put in an order to sell. Fortunately, I either broke even or made a few cents. Now I just have to convince the SEC I'm not a day trader.
 
#2 ·
For me after churning stock trades for a summer twenty years ago - and quitting with $20k losses - even clicking an Amazon or eBay buy now ramps up the heart rate : )

I'll personally vouch that a smart monkey adrenaline rush good or bad can be addicting--- danger Will Robinson!
 
#7 · (Edited)
What he was talking about (SNVXX) was not a stock...
SNVXX is not a stock but a money market fund: the Schwab Government Money Fund—Investor Shares. It seeks to provide a high level of current income while maintaining stability of principal and liquidity by investing primarily in U.S. government securities.
  • Yield: Its 7-day yield was 5.22% as of early October 2025, according to Yahoo Finance.
I love my stocks and they love me.
I studied them for decades as I gradually got into them.
Not 'funds', derivatives, annuities, options, mutual funds, money market funds, or junk bonds etc.
I am not a traitor, um, trader. I am a buy & hold dividend harvester. :)
It works! :love:
 
#8 · (Edited)
What he was talking about (SNVXX) was not a stock...

I love my stocks and they love me.
I studied them for decades as I gradually got into them.
Not 'funds', derivatives, annuities, options, mutual funds, money market funds, or junk bonds etc.
I am not a traitor, um, trader. I am a buy & hold dividend harvester. :)
It works! :love:
30 day yield 7.54%

It's a good place to park money.

I wanted to buy some on my Schwab account, but it looks like they charge a fee for anything that pays a higher interest or dividend than their products.
 
#9 ·
Oh man, that's a heart-stopper. I've almost done that before when placing limit orders on ETFs that don't trade often. The pricing looks so harmless until you realize you just bought a small car's worth of shares. Glad you caught it fast, could've been way worse.