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Thread: Anyone play the stock market ??
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10-06-2003, 08:38 PM #1VET
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Anyone play the stock market ??
Anyone play the stock market right now ?? Like buy in the morning, hope it goes up a few points, and then turn around and sell. Sure you'll maybe make 10 / 15 bucks a time, or even lose that much. But pulling in and out, making trades quickly. I'm thinking of getting like 500 bucks and playing around with that.
If that doesn't work, I'm goin to the casino to play war. I have yet to walk away down.
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10-06-2003, 08:57 PM #2Originally Posted by KeyMastur
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10-06-2003, 09:01 PM #3VET
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Okie dokie, there goes that idea. Guess I'll just stick to playing War in the casino.
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10-06-2003, 09:05 PM #4Originally Posted by KeyMastur
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10-06-2003, 09:09 PM #5Originally Posted by Da Bull
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10-06-2003, 09:14 PM #6Originally Posted by bigol'legs
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10-06-2003, 10:29 PM #7
99% of all the day traders are gone. It was one thing in the late 90's when you could through a dart at a bunch of stocks and 9 times out of 10 you were a winner. Those days are gone. Unless you think that you have some knowledge that the rest of the market is missing, invest in a 401k or roth ira. This way you limit your risk.
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10-07-2003, 07:05 AM #8
i never day trade. trading fees and taxes would eat me alive. i just do a hell of a lot of research and make a stock pick and hold for a while until something changes. ive been doing pretty well. made money before the stocks went down. made money when the stocks went down. making money now (after the stocks went down). its not that hard, but then again, i pick based on research from nobel winning economists.
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10-07-2003, 07:26 AM #9
I certainly don't have time/inclination to day-trade, but I buy/sell stocks on a more "monthly"-type basis, you could say.
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10-07-2003, 07:34 AM #10
Yeah, I've been trading stocks ever since I was 16. Ahhhh I remember the good old days when the Tech market was out of control. Somedays I would make 40,000.00....But, then hell came down. The market tanked and I lost EVERYTHING!!!!
I used to own all the big boys....JDSU, MSFT, CSCO, AMAT, VISX, INTEL, BRCM,etc...My theory was to buy the big boys and hold them (thus my name buylongterm) Well, that theory destroyed me!
Best advise, NEVER EVER go on a margin account. I did with 200,000.00 and I still have nightmares..
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10-07-2003, 08:33 AM #11
Keymastur, if you're going to gamble with $500, I'd suggest you find a penny stock (or something around $1 a share) and buy as many shares as you can. Those things fluctuate so much and they're so cheap, you can either make a lot or lose a lot. Just remember one rule...don't get greedy! If you have a nice profit, take it!
Last edited by pumpseeker; 12-05-2003 at 02:44 PM.
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10-07-2003, 09:29 AM #12VET
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Originally Posted by pumpseeker
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10-07-2003, 09:34 AM #13
just make sure to open your account where the commissions are cheap...that $20 profit can get eaten up quick if you're paying $50 a trade!
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10-07-2003, 09:38 AM #14VET
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Originally Posted by pumpseeker
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10-07-2003, 11:02 AM #15
Do you know about the doubling method when playing at the casino? If you do that, you have a better chance making money at the casino than stocks.
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10-07-2003, 11:06 AM #16VET
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Originally Posted by dizzle
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10-07-2003, 11:21 AM #17
Capitol gains really really really sucks. That's why it's not for me. My sister's boyfriend designed software to predict market trends, and she day trades. She'll move 100,000 in one trade sometimes.
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10-07-2003, 12:14 PM #18
pump-I'm suprised at the comments you made regarding daytrading.Cybertrader and other big firms that cater to daytraders require 25,000.00 to open an daytrade account.THESE ARE NASDAQ rules.Yes you can open an account withan E-Turd online brokerage firm for 2500.00 and high commish,and most will bust out quickly.Poor trading platforms ect.Full service brokers such as yourself are nothing but sales people giving poor advice to people just to make your commish.Very high commish rates also.People who buy from you are stuck 2% before the stock even moves.Think your talking to a moron here.I know the game like the back of my hand,that's why I survived through Bull and Bear markets for so many years.Don't buck the trend.GO long,go short.I trade big money every day and I'm still here doing high 6 figures yearly.Do your homework bro before you make comments like you stated above,and good luck on your future. DB
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10-07-2003, 01:42 PM #19
Dude joins last month and already has an ego...
Originally Posted by Da Bull
I agree that if you're day trading at a full-service firm, you're in the wrong place. Firms like us are not interested in catering to cocky day traders like yourself. Financial planning and professionally managed portfolios are the main focus of full-service brokers now and going forward. IMO, most people give more of a shit about their nest egg than to gamble it away on a single stock. That’s why they take their big money to an advisor for advice. You think Bill Gates is sitting at home day trading his portfolio? Or the majority of wealthy individuals for that matter? No, they hire professionals like myself.
Originally Posted by Da Bull
Do my homework? If you did yours, you’d know that SEC rules (not Nasdaq rules) require 25,000. And that’s only IF you’re making more than 4 trades in 5 days…I’m sure Keymastur could day trade his $500 ANYWHERE without crossing that boundary.
Good luck with your future too bro. By the way you come off, I doubt it will be long here at AR
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10-07-2003, 04:06 PM #20Originally Posted by OnDaJuice
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10-07-2003, 04:50 PM #21Originally Posted by pumpseeker
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10-07-2003, 05:06 PM #22
Always been in for the long hall myself. Been dumping $ in a 401k for 10 years now. Luckily we had no nasdaq funds earlier. Have seen pretty good growth. I have about 60% in a combination of S&P 500 and my companies stock (my company has been around for over 150 years). Only keep their match in the company. Other $ in balanced funds that are stock, bonds, short term treasuries. Never had the balls to day trade. More power to you.
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10-07-2003, 05:16 PM #23Originally Posted by scottp999
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10-07-2003, 05:40 PM #24
VEGAS for HALLOWEEN.... Speaking of war in the casino.....
Stocks are risky right now. Best way to invest in in real estate or land development.
Buy about 20 acres, split it into 5 or 2.5 parcels, put houses up and sell em. I love it.
WHERE ARE ALL THE HOT STOCK TIPS. The inside scoop???
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10-07-2003, 05:44 PM #25VET
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Originally Posted by bermich
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10-07-2003, 05:45 PM #26Originally Posted by KeyMastur
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10-07-2003, 06:19 PM #27Originally Posted by bermich
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10-07-2003, 07:26 PM #28
Stocks are risky, especially with their sensitivity to terrorist acts that could happen any time, also with other global influences. Timing the market is a strange game. Think about all the people who lost 50% of their investments or more and are still afraid to jump back in. I was looking at perfromance year to date and on my funds I am averaging about 18% return so far this year. Bet a lot of people that got burned earlier are also missing out on a 20% gain this year.
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10-07-2003, 07:36 PM #29
Day trading for yourself can be very difficult. Not only are you trying to keep up with your own life, now your trying to be the Wall Street Tycon.
I leave mine to a guy I have been with for years. He has his own firm and now only takes on people who have a million or more to invest.
D
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10-07-2003, 07:43 PM #30Originally Posted by Diesel
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10-07-2003, 11:14 PM #31Junior Member
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Originally Posted by Da Bull
I plan to invest money in a few rental properties soon... I also plan to buy a few cheap foreclosures, fix them up, and sell them for a profit.
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10-07-2003, 11:34 PM #32Originally Posted by Tayman
i agree with the roth IRA or 401K, however you won't see a penny until you retire. look for anything that you can keep tax free and play it for the duration of your lifetime.
my only other advice would be to buy an index fund that will get you modest retuns based on how the major players of the NYSE or NASDAQ are doing (good indication of the economy as a whole.)
we will be out of the recession in another year or so and the tech sector will be revamped, so pick and choose...you might find the next yahoo if you read some financial journals or mags.
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10-07-2003, 11:57 PM #33Junior Member
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Originally Posted by daem
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10-08-2003, 02:27 PM #34Originally Posted by Tayman
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10-08-2003, 02:46 PM #35
DB, that's really weird you mentioned the housing bubble..............I've been telling all my friends to watch out (They have all been building these huge houses with moneies they made off their old places and utilizing the low finance rate) ............you know it's going to happen soon. Hate to say it but I'm holding off on buying a new place until it does.
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10-08-2003, 03:27 PM #36Originally Posted by Juggernaut2148
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10-08-2003, 04:06 PM #37
Yeah the real estate problem is definetely coming. It happened in Houston a few years back and it is going to happen in the south soon. Real Estate prices are simply over inflated and when the value starts to drop a lot of people are going to have a $250,000 dollar mortgage on a house worth $150,000. Of course when people start walking away if you have cash you may be able to buy out right from the banks for a cheap price.
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10-08-2003, 05:22 PM #38Originally Posted by Rickson
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10-08-2003, 05:29 PM #39VET
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Originally Posted by Da Bull
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10-08-2003, 06:01 PM #40
Housing in my area is out of control to but the financing rates are rediculous. I know a ton of people that have been getting 1 year arms at about 3.25 to 3.5 %. Working for a mortgage co. you get sweet deals on all the fees. They have refi'd over and over for almost nothing and have been enjoying sub 5% rates for years now. Think about it, a 1 year arm at 3.25, you can afford one hell of a house compared to a 6 or 7 % rate. The 3.25 can only go up a max 1% per year and then can only cap out at a little over 8% for life. Depends on how long you want to stay somewhere but there are a ton of smart people who are working this situation the right way while migating the risks.
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