6 Rings G.O.A.T.
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Investing/Stocks 101
- Thread in 'General' Thread starter Started by 504 d1 prospect,
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buy physical gold and silver.
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buy physical gold and silver.
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I truly wished I would have a year ago.
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I truly wished I would have a year ago.
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pfl
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pfl
6 Rings G.O.A.T.
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Some Far good. . The information is gold. .
6 Rings G.O.A.T.
Supporter
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Some Far good. . The information is gold. .
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Not while you're alive it won't
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Not while you're alive it won't
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Getting paid to take risk with other people's money>Investing your own money.
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Getting paid to take risk with other people's money>Investing your own money.
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DeadsetAce
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read the wall street journal for at least three months before you do anything. learn about whats happening in the world economy before throwing away your money
DeadsetAce
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read the wall street journal for at least three months before you do anything. learn about whats happening in the world economy before throwing away your money
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Barrons is another excellent newspaper to read but I think you might need to get a subscription for that. Not sure if they sell it in stores.
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Barrons is another excellent newspaper to read but I think you might need to get a subscription for that. Not sure if they sell it in stores.
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- Apr 25, 2005
The first book is a nice introduction, written for basically anyone. The Intelligent Investor is a little outdated, but it's a good read; the third book by William O'Neil talks about a completely different style of trading compared to the second book (value vs growth investing). These books really are an introduction to the world of trading; you can read and play all the simulator games you want, but nothing compares to actually investing in the market. I remember I shorted MOBI when it was around 22, got out around 20 (it had a huge rally, but then bad articles started popping up; some investment firm basically destroyed it in an article); it dropped to 10 dollars with a few weeks. I was so
Just don't start trading until you are absolutely confident. There are no guarantees you'll make money. None whatsoever. Keep your emotions out of your trading. I also recommend "Market Wizards" by Jack Schwager; some of the stories are
I made about 2k in the Feb-April(with a 2k investment); I learned soooo much from this period. Nothing gets your heart racing more than when you are in a trade. I literally felt sick when I saw the value of my stock go down. I made some pretty stupid mistakes, but I did pretty well for a newbie.
It really is one of the most nerve-racking things you can do (investing), especially if what you're investing is a significant portion of your net worth (I'm a college student, so 2k was a huge amount of money. I did a combo of momentum trading and growth investing. Had about a 60% ROI flipping SSN in Feb and around 10% getting in on HS before a nice little spike. I still remember these trades like they were yesterday
The rest of the 2k I made trading penny stocks, but it wasn't your average run of the mill website advertised *##%%@+$. Look up Tim Sykes and ReaperTrades (don't buy whatever they're peddling; you can learn a lot about what works w/ pennies and what doesn't just by looking at their posts. This really has nothing to do w/ actual investing, and I'd skip over it, but I learned a lot about the lingo and how to handle yourself by risking some money on these kinds of trades. I don't recommend it though, as the methodology is extremely shaky (and it's in a sort of legal grey area).
At minimum, the lowest amount you should start investing is $2000 (or enough to open a margin acct w/ your broker), so you don't get stuck w/ trading on a cash account ("free-riding" violations; if you make a trade (buy, then sell) on a cash account, you have to wait 3 business days for it to clear before you can make another trade). I didn't know about this when I first started trading, and it had me
I've heard good things about thinkorswim, but I never used them. I used Speedtrader, b/c of their 2k margin minimum, but their commission rate is pretty high. If fast trades are your top priority, then Speedtrader is the way to go. I used Zecco and Scottrade as well, but I don't recommend them. Trades were slow, and the only redeeming quality about Scottrade is that you probably have one close to your home.
I got out in the end of April so I could focus more on school (taking summer classes now, I really need to catch up w/ the rest of the comp sci curricula), but the market is slowly calling me back
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The first book is a nice introduction, written for basically anyone. The Intelligent Investor is a little outdated, but it's a good read; the third book by William O'Neil talks about a completely different style of trading compared to the second book (value vs growth investing). These books really are an introduction to the world of trading; you can read and play all the simulator games you want, but nothing compares to actually investing in the market. I remember I shorted MOBI when it was around 22, got out around 20 (it had a huge rally, but then bad articles started popping up; some investment firm basically destroyed it in an article); it dropped to 10 dollars with a few weeks. I was so
Just don't start trading until you are absolutely confident. There are no guarantees you'll make money. None whatsoever. Keep your emotions out of your trading. I also recommend "Market Wizards" by Jack Schwager; some of the stories are
I made about 2k in the Feb-April(with a 2k investment); I learned soooo much from this period. Nothing gets your heart racing more than when you are in a trade. I literally felt sick when I saw the value of my stock go down. I made some pretty stupid mistakes, but I did pretty well for a newbie.
It really is one of the most nerve-racking things you can do (investing), especially if what you're investing is a significant portion of your net worth (I'm a college student, so 2k was a huge amount of money. I did a combo of momentum trading and growth investing. Had about a 60% ROI flipping SSN in Feb and around 10% getting in on HS before a nice little spike. I still remember these trades like they were yesterday
The rest of the 2k I made trading penny stocks, but it wasn't your average run of the mill website advertised *##%%@+$. Look up Tim Sykes and ReaperTrades (don't buy whatever they're peddling; you can learn a lot about what works w/ pennies and what doesn't just by looking at their posts. This really has nothing to do w/ actual investing, and I'd skip over it, but I learned a lot about the lingo and how to handle yourself by risking some money on these kinds of trades. I don't recommend it though, as the methodology is extremely shaky (and it's in a sort of legal grey area).
At minimum, the lowest amount you should start investing is $2000 (or enough to open a margin acct w/ your broker), so you don't get stuck w/ trading on a cash account ("free-riding" violations; if you make a trade (buy, then sell) on a cash account, you have to wait 3 business days for it to clear before you can make another trade). I didn't know about this when I first started trading, and it had me
I've heard good things about thinkorswim, but I never used them. I used Speedtrader, b/c of their 2k margin minimum, but their commission rate is pretty high. If fast trades are your top priority, then Speedtrader is the way to go. I used Zecco and Scottrade as well, but I don't recommend them. Trades were slow, and the only redeeming quality about Scottrade is that you probably have one close to your home.
I got out in the end of April so I could focus more on school (taking summer classes now, I really need to catch up w/ the rest of the comp sci curricula), but the market is slowly calling me back
