heyeaglefn

I don't think we are talking about professional investors here. Just trying to talk someone out of something they think is an easy 2% min. profit.

You set the stops/limits up in advance in case something happens and the stock drops quickly and you want out.

hamhead

Like has been mentioned here already, while you can't book stops/limits on loyal3, nothing is stopping you from buying options on your other accounts to hedge against losses.

drdrew450

I use stockcharts.com to get a feel of if a stock is under/over valued.

If you check out aapl, its at the top of its range right now, if it goes back down near its 200 day moving average(around 509), I would look to buy. 516-520 also seems like a place where its bottomed out a few times.

Sense most people using loyal3 for MS are not going to be in a stock that long, you want to pay more attention to the technicals. I pick my stocks on good fundamentals but when I buy has to do more with technicals.

I am far from an expert, this is just how I trade.

You could also use dollar cost averaging to mitigate risk a bit.
http://www.investopedia.com/terms/d/...taveraging.asp

or just buy 50 bucks of each of the stocks on offer, so you create your own fund of sorts.

heyeaglefn

Way too much effort for 2%.

crimsonred

Ah goddammit! So I place an order today for $2500 for BRK, and I completely missed the part where it said it will charge my checking account. Order placed, I realize my mistake immediately, call them up, they said they will cancel it and send me an email.

30 mins later they email saying they can't, because selecting a wrong source of payment is not valid reason enough. This is so ....ing stupid. I find it ridiculous that the order cannot be canceled being that I tried to contact support within a few minutes of the order being placed. Coupled with the fact that the buy order does not execute the moment I place my order, and that it happens a few days later, this reasoning seems even more inane to me. Now I wanna know what exactly is a valid reason for canceling the order, because they say that they do, "in certain circumstances".

I set up a checking account which I don't use for my daily expenses, and have very little money in. Sure it has overdraft protection linked to a point earning credit card, but I don't even know how that will work.

So anyway, just a heads up to you guys, make sure you select the right payment source when you're executing your order!

lakeshoredrive

same thing happened to me, put a stop payment on the amount of the trade, worked fine.

binnycode

How 'bout updating wiki to include tips, shut down data points, etc? I specifically mentioned changing purchase method EVERY time you place an order a long time ago...

The_Wrath_of_Khan

I also had to place a stop payment on my account which worked. This is what Loyal3 said to me:

TheGreatMongo

Easy solution. just empty out your bank account.

milesbroker

I tried this for about a week. I switched credit cards testing each at 50 bucks at a trime. My bank of america, Citi, Chase, and Barclays cards and Visa gift card all worked for points. When I was ready I came up with a plan to invest in 10,000. I would make 10,000 payment. I then purchased a second 10,000 on another credit card. The plan was to sell the original 10,000 on the same day the second 10,000 was going to go through. If you purchase during the open hours the trade should go through in two days. Off hours it takes 3 days. In all you figure stocks will be mixed some up some down and all you have to do is avoid being down by 2% total in the long haul.

However, after my second purchase, I was given a warning that they would watch my account. I went through with the sale of my first 10,000 but have been holding the second 10,000 in stock. I'm not sure where the limits are that will avoid detection but it is below that.

Beckles

Investing in stocks is too risky for me, but my favorite local convenience store chain, QuikTrip, allows the purchase of lottery tickets on credit cards, so I figure I buy $10k worth of scratchers, cash them all in, and I'm set! It even counts as a gas station purchase on those cards with bonus for that category! I can't lose!

TheGreatMongo

Investing in stock is actually not risky if you spend a few hrs researching. whats risky is investing through loyal3. this is really a bs scam. why would anyone execute a trade now and have it fill 2-3 days later. who knows, loyal3 probably probably executed the trade same day and if it appreciated, they sell for a profit and buy again at the high to assign to your acct and vice versa for depreciating stocks. imo, i would advise all to stay away.

dadamn

Beckles FTW! Thanks. I totally needed that laugh.

dboston1

I read through this thread, read the FAQs on Loyal3 and searched around and still had some questions regarding how this actually works. So I did a few test purchases and also spoke to a Loyal3 rep on the phone. Figured I'd share this info with everyone.

Here's how it works, using a made up example:

Monday: buy $2500 worth of GOOG @ $500/share on your favorite CC (5 shares)
Tuesday: wait
Wednesday: Payment complete, buy order initiated @ market price when Loyal 3 submits their batch order. If GOOG has dropped to $450, you have just purchased 5.55 shares. If the purchase goes through before 2pm EST, you can sell that same day. All sell orders placed before 2pm EST will be sold that afternoon.

I was told you are absolutely free to sell off anytime you want, even that same day. From what I've read, account shutdowns have happened with people doing large volumes (+$10k) within a short period of time.

I've made 3 purchases in a few days on my Citi AA Executive MC: two companies @ $2500 each and a third at $750, for a total of $5750. I'll update this if I have any issues, but for people who know what they're doing and don't mind a little risk, it seems like an easy way to meet the minimum spend.

vegasthegreat

I'm seeing a lot of name calling and anger and accusations, its really sad.

Are there risks? Of course. Just like you increase the odds of dying in a car accident by taking a trip to the store to PAY FEES to buy vr, but nobody has a problem with that, other than it no longer being available. Oh, and if you bought a vr and someone with a random number generator cashed it in....

Be smart, do research on ANY AND EVERY stock before you buy, and mitigate your risk by validating around 1330 eastern time that you are comfortable selling at the current price and you can virtually lock in your gains. Now a large volume mover like msft might be less effective for that but there are plenty of offerings on there that are less active during the trading day.

I'm stationed in Okinawa so there are no other feasible ms techniques other than ap. In the last five weeks my results:

7 total buys=17,500 aa miles
175,000 miles from that amount of initial spend
$700+ capital gains

Check my math but at one cent per mile that's about 2500 dollars gain. I haven't lost on a single transaction yet because I can float several thousand. Held eigi for about a month to avoid loss and all worked out just fine. That's not even taking into consideration that if you buy on your statement closing date for your cc, you have an entire billing cycle and payment cycle til that bill is due. I xferred into my Ameritrade and made HUNDREDS more not counted here (aka margin trading).

Say what you will, hell I'm HAPPY some of you are so opposed, keeps it around for me!
My only downside is 2pm eastern is my 3am. Totally screws my sleep pattern and at 36yrs old that hurts, but free money is free money, and I'm going to cash it in!