Hamster
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Question of the Day: Will you be subscribing to the new Disney+ R49 streaming package?
Easy Equities good or bad?
- Thread starter lagoaty
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Neo_X
Expert Member
also getting an error here.
one of my colleagues today had another weird thing happen :
overview shows that yesterdays balance was R3.2k
he then goes ahead and deposits another R500 today, after which he purchases additional shares (split into 6 EFT's)
once he was done he calls me over and asks why his balance was still on R3.2k... i could not answer him. no single ETF dropped that percentage today, the transaction history shows all his shares he bought, but - his total share value didn't change.
weirdness....
he did drop them an email, waiting for a reply.
Exactly the same issue earlier today as well, but I've had it before so wasn't concerned as they update/rectify it "usually"
Forum rep still hasn't replied here. Also just as I thought, made a purchase today and my entire settled cash that was left was deducted before any unsettled cash. I'm getting more disillusioned at EE by the day.
I don't know if I still trust them. I've looked through my account history and on a few occasions the closing balance isn't the same as the opening balance even though no transactions took place during the day.
FxJalarupa
Well-Known Member
This is really good advice, although debt is such a big part of our lives, I'm assuming you referring to short term debt (credit cards, clothing accounts...)
One should always be investing in an RA regardless of debt situation as you get a huge tax benefit of writing off 1 quarter of your gross annual income...
If you are a good enough investor, your emergency fund could be in the market... I know mine is... Rather get 40% return trading the swings in counters like EQS than sitting pat earning nothing from the bank...
You should always be saving regardless of you debt situation, it could help pay for education for the kids, or writing down a large chunk of your vehicle finance or bond... Saving encourages us to spend less... So this type of thrift should always be promoted...
^This. We have lots of amateurs acting like professionals here trying to give advice. Reality is that the real professionals don't follow all these made up "rules." If EE acted like a reputable institution and also stated all the info upfront there wouldn't have been a problem. As far as I'm concerned they are responsible here and their lack of a response to it is really concerning. But in any case to get back to the point, the only rule is to know your situation and it's not what you invest but rather what you invest in and with whom.
KillerBOB
Well-Known Member
I'm going to drop a thread killer on you boys quickly.
The problem is everyone of us want to use EE as trading platform. Don't, leave it be for 5 years, 10 years etc and then by that time if you invested wisely. A log in hickup keeping you out for 1 or 3 days wont do jack shiat to your wealth.
Whenever you use the excuse, but what if I wanted to sell now tomorrow I missed the boat ( example Lommy ), well quite frankly then you did not invest, you traded.
If you use EE for investing then there is no problem.
----
With that said, I try to trade with it on the side, I am guilty. ( I say "trade" I mean I ride tides and take profits and will most likely continue like this until I burn my fingers. Until them, EE all the way. )
The problem is everyone of us want to use EE as trading platform. Don't, leave it be for 5 years, 10 years etc and then by that time if you invested wisely. A log in hickup keeping you out for 1 or 3 days wont do jack shiat to your wealth.
Whenever you use the excuse, but what if I wanted to sell now tomorrow I missed the boat ( example Lommy ), well quite frankly then you did not invest, you traded.
If you use EE for investing then there is no problem.
----
With that said, I try to trade with it on the side, I am guilty. ( I say "trade" I mean I ride tides and take profits and will most likely continue like this until I burn my fingers. Until them, EE all the way. )
Hamster
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Don't include me in your silly misuse of personal pronouns.
We've been saying don't use EE for trading from the start.
Hamster
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Let's not fight about your misuse of the English language
Let's not fight about your misuse of the English language
You're not everyone, you are you.
Hamster
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You sound like the ANC :wtf:
You're saying we shouldn't "moan" when we don't get what we're entitled to as consumers?
Thor187, that isn't entirely correct. EE has a 14 business day settlement period they claim is in line with the JSE. It's not, the JSE stipulates 5 days including non-business days and other platforms even allow you to withdraw immediately for a fee. Besides for that they don't mention that you shouldn't trade, their term not mine, during that period which is a serious headache for anyone that needs to withdraw money during that time. So they're not being honest and upfront first of all and secondly this is still a problem even if you only do "investing."
What is the difference between investing and trading in any case? I've asked this question and nobody has given a consistent definition yet. Your definition is 5 or 10 years. Someone else is 3 years while another is 1 year. How is it suddenly not investing if you buy something and wait for it to go up before selling? These are all just arbitrary definitions and in truth there's no real difference. Even EE doesn't seem to know the difference and uses the terms interchangeably.
And besides for this what about all the other problems with their system that I pointed out? You can't honestly say with a straight face that those are ok even for an investment only platform.
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You're saying we shouldn't "moan" when we don't get what we're entitled to as consumers?
Thor187, that isn't entirely correct. EE has a 14 business day settlement period they claim is in line with the JSE. It's not, the JSE stipulates 5 days including non-business days and other platforms even allow you to withdraw immediately for a fee. Besides for that they don't mention that you shouldn't trade, their term not mine, during that period which is a serious headache for anyone that needs to withdraw money during that time. So they're not being honest and upfront first of all and secondly this is still a problem even if you only do "investing."
What is the difference between investing and trading in any case? I've asked this question and nobody has given a consistent definition yet. Your definition is 5 or 10 years. Someone else is 3 years while another is 1 year. How is it suddenly not investing if you buy something and wait for it to go up before selling? These are all just arbitrary definitions and in truth there's no real difference. Even EE doesn't seem to know the difference and uses the terms interchangeably.
And besides for this what about all the other problems with their system that I pointed out? You can't honestly say with a straight face that those are ok even for an investment only platform.
It is okey because when I invest, I don't care of I the system is down, that's fine.
A few days downtime won't do jack shait to my investments 10 years from now.
You're saying we shouldn't "moan" when we don't get what we're entitled to as consumers?
Thor187, that isn't entirely correct. EE has a 14 business day settlement period they claim is in line with the JSE. It's not, the JSE stipulates 5 days including non-business days and other platforms even allow you to withdraw immediately for a fee. Besides for that they don't mention that you shouldn't trade, their term not mine, during that period which is a serious headache for anyone that needs to withdraw money during that time. So they're not being honest and upfront first of all and secondly this is still a problem even if you only do "investing."
What is the difference between investing and trading in any case? I've asked this question and nobody has given a consistent definition yet. Your definition is 5 or 10 years. Someone else is 3 years while another is 1 year. How is it suddenly not investing if you buy something and wait for it to go up before selling? These are all just arbitrary definitions and in truth there's no real difference. Even EE doesn't seem to know the difference and uses the terms interchangeably.
And besides for this what about all the other problems with their system that I pointed out? You can't honestly say with a straight face that those are ok even for an investment only platform.
Here is the difference:
Investing and trading are two very different methods of attempting to profit in the financial markets. The goal of investing is to gradually build wealth over an extended period of time through the*buying and holding*of a portfolio of stocks, baskets of stocks, mutual funds, bonds and other investment instruments. Investors often enhance their profits through*compounding, or reinvesting any profits and dividends into additional shares of stock. Investments are often held for a period of years, or even decades, taking advantage of perks like interest, dividends and*stock splits*along the way. While markets inevitably fluctuate, investors will "ride out" the downtrends with the expectation that prices will rebound and any losses will eventually be recovered. Investors are typically more concerned with market fundamentals, such as*price/earnings ratios*and management forecasts.
Trading, on the other hand, involves the more frequent buying and selling of stock, commodities,*currency pairs*or other instruments, with the goal of generating returns that outperform buy-and-hold investing. While investors may be content with a 10 to 15% annual return, traders might seek a 10% return each month. Trading profits are generated through buying at a lower price and selling at a higher price within a relatively short period of time. The reverse is also true: trading profits are made by selling at a higher price and buying to cover at a lower price (known as "selling short") to profit in falling markets. Where buy-and-hold investors wait out less profitable positions, traders must make profits (or take losses) within a specified period of time, and often use a protective stop loss order to automatically close out losing positions at a predetermined price level. Traders often employ*technical analysis*tools, such as*moving averages*and*stochastic oscillators, to find high-probability trading setups.
SauRoNZA
Honorary Master
You're saying we shouldn't "moan" when we don't get what we're entitled to as consumers?
Thor187, that isn't entirely correct. EE has a 14 business day settlement period they claim is in line with the JSE. It's not, the JSE stipulates 5 days including non-business days and other platforms even allow you to withdraw immediately for a fee. Besides for that they don't mention that you shouldn't trade, their term not mine, during that period which is a serious headache for anyone that needs to withdraw money during that time. So they're not being honest and upfront first of all and secondly this is still a problem even if you only do "investing."
What is the difference between investing and trading in any case? I've asked this question and nobody has given a consistent definition yet. Your definition is 5 or 10 years. Someone else is 3 years while another is 1 year. How is it suddenly not investing if you buy something and wait for it to go up before selling? These are all just arbitrary definitions and in truth there's no real difference. Even EE doesn't seem to know the difference and uses the terms interchangeably.
And besides for this what about all the other problems with their system that I pointed out? You can't honestly say with a straight face that those are ok even for an investment only platform.
Stick to SARS's opinion if all else fails.
Trading = Speculating = Less than three years.
Investing = Capital Gains = More than three years.
As for EE your account isn't a bank account. You would normally only pull funds out of it if you plan to stop trading it or move the money elsewhere.
So the rule isn't a problem for most and really shouldn't bother you this much.
If your trading account is your emergency funding avcount...You are doing it wrong.
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