I'm just wondering where to start, I've been watching CNBC all day everyday in the background, I love this stuff. What are some good beginner books? Are the Jim Cramer books worth anything? Let's make some money! :7up: :7up:
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I'm just wondering where to start, I've been watching CNBC all day everyday in the background, I love this stuff. What are some good beginner books? Are the Jim Cramer books worth anything? Let's make some money! :7up: :7up:
jim cramer is one annoying dude but knows what hes talking about.... boo yaa
It depends on what kind of trading you want to do. I would learn how to swing trade. This is a good book that everyone reads when they get into stocks.
http://www.amazon.com/Reminiscences-.../dp/0471059706
my friend is #1 in switzerland, at only 18, he has won many national compitions and prizes. well in the tens of thousands.
theres this great website and program to manage all your stock and sales from home. its real efficent for source and information, and apparently easy to use. but right now his loosing all his $$ haha... if you want the website i can ask.
Buy CISCO !!!!!!!!!!!!!!!
kale, i like the new pic. a better feel for the actual idea of how huge those boobs are! dem tities bigger them my head!Quote:
Originally Posted by Kale
I agree here, bro at your age, IMO anways, dont look for the buy and hold, 1) its boring 2) with the ammount of capital im guessing you have you wont make ish and 3) If you buy and hold youre probally not going to learn that much because you wont be involved like you have to be if you swing trade, or better yet, daytrade :wg:Quote:
Originally Posted by MotoXracer
However, the way i started out was took a couple thousand i think, opened a ameritrade account and subsribed(100 bucks a year) to the MOTLEY FOOL, The recomended 2 stocks every month and told you why, giving you analysis, it was a great way to get my feet wet and got the wheels turning so to speak
Now, because im finishing up my last semster and am involved in a few other things im not involved in the market as much, HOWEVER, for the past few years ive done PENNY STOCKS and abosolutley LOVED it, its almost like gambling tons and ups and downs, so if you cant stomach the roller coaster or cant devote a lot of time to watching your account i would advise against this, BUT, if your looking for some action and REALLY want to learn the markets, and, make ridiculous returns, this is the way to go, **** it, your young.. you can afford to take risks.... You know how i got hoooked,? First penny stock i EVER did was ALLC.PK, bought 1 million shares(1,000 dollars) at a tenth of a cent! wouldnt you know it, this little bugger shot up to 8 tenths of a cent! i made 792% return on my investment in one day, NOT TYPICAL, but it happens in the penny world
SIRI - the merger with XMSR will go through (says me!) and it has been hitting 52-week lows - way under-valued. :D
SIRI is always good for a short term play,,, ill have to check the charts :D
O and let me and SVT, if your a business major, i think its a great idea for you to learn the markets and read everything you can, start now, really understand how they work... I cant tell you how many older people i talk to, and interviews too are impressed when i can speak intelligently about the markets..
The charts show a reversal but industry breaking news is really what keeps moving this stock - the merger news this year keeps affecting it more than anything. As far as shorting... it trades with high volume and a lot of people do skim it - I am staying long though... I don't have the gut health to short it and then worry about some big news hitting the wire and it jumps 10 points overnight. I'm stayin long... :?:Quote:
Originally Posted by daytrader
Ya , i cant comment too much on it because im not familar with the industry or SIRI too much for that matter, all iknow about is stern :D. The only thiing icould say for sure is no way id short at these levels, no way, we've all seen siri can run and when it does, better get on your sprinting shoes :DQuote:
Originally Posted by Warrior
I am a business major, 1 year left!Quote:
Originally Posted by daytrader
Basically i wanna learn about
- Diversifying
- How much to buy
- Where to start
- What to look into
- Basic Terms
- How to determine if it will succeed
etc etc the basics
I got about $2,000 I can start with.
Learn candle sticks and the basics... read the newspapers and follow a particular industry. While your young - take risks - you have plenty of time to recover and lots to gain if something hits big...
2k ain't much but you can get your foot in the door - with stocks, the more you dump in, the more you can gain - or lose! Some advise in setting up an educational account through a broker and simply play the market with some play money first... up to you.
buy an investment property 1st through me!!!!! mwahahahaQuote:
Originally Posted by SVTMuscle
Good advice bro, thats the TA i tought myself, i bought a book candle stick charting explained, heres a potential problem with TA though, IMO, to really really be good at it, it takes sooo much practicing, studying and experience, a lot of people starting out(happened to me) will see so many false signals... TA takes years and years of practice and studyning to be truley good... i wouldnt even waste your time doing play money, just read and get alittle and learn the basics and just go for it... Like warrior said, if you make money thatd be nice, but your really just doing it for educationQuote:
Originally Posted by Warrior
1)you cant realistically diversify with 2kQuote:
Originally Posted by SVTMuscle
2) where to start? honestly.. hmmm good ? lol, theres so many possiblities to this.. i told you how i get started, thats one possibility.. OR, theres also internet forums similar to Steroid.com for the stockmarket, join one of them
3)succeed? itll take a lifetime to determine that lol
The one thing i have learned about the stock market, and i know many will disagree call me a consiparcy theorist, is there is so much corruption, and for the average investor, if your not on the inside, you ARE on the outside, Im not saying you cant make money in the Long run, but its difficult, warrior you seem like you follow the markets a lot too,, heres an VERY interesting video for you, its long but if you have the time give it a watch
http://www.businessjive.com/nss/darkside.html
Yeah I know I can't diverisify with 2k, but I know its a slim amount of money, but for being a college student come on thats a decent amount to throw around in the stock market haha. I know I have a few stocks my grandparents bought my years ago when I was like 10 years old... I should look into those.Quote:
Originally Posted by daytrader
2k is not bad at all bro, im just saying i would find 1 or 2 good ideas, and go with them, dont worry about diversifying
well of course not yet. i got a few stocks in an insurance group and im thinking of buying in Staples Corp
Bump, warrior you give that vid a watch?Quote:
Originally Posted by daytrader
well one way to invest thru diversification..
is sort of follow the stocks BETA rating.
definition of BETA is..
"Beta is a measure of a stock's volatility in relation to the market. By definition, the market has a beta of 1.0, and individual stocks are ranked according to how much they deviate from the market. A stock that swings more than the market over time has a beta above 1.0. If a stock moves less than the market, the stock's beta is less than 1.0. High-beta stocks are supposed to be riskier but provide a potential for higher returns; low-beta stocks pose less risk but also lower returns."
so pick out 5-10 stocks..
if u want to go aggresive and believe the economy is solid,, get stocks with above 1.0 BETA..
if u feel uneasy, get stocks with under 1.0 BETA
or better yet!!!!
Short stocks with above 1.0 BETA in bad markets lol
u have to diversify if trading this way 10 different stocks is probbably good.
but it makes things simpler cause u dont have to follow daily news reports. all u have to is follow the health of the stock market in general.
No, not yet but I forwarded it to a few of my boys and I'll watch it as soon as I get some extended down time... actually, I am going to try and watch it now - looks interesting...Quote:
Originally Posted by daytrader
I am currently reading "The Standard & Poor's Guide for The New Investor". It has been really helpful and easy to understand. At the end of every chapter there is a brief summary.. Hopefully by the end the book I will have acquired many great techniques to build up my portfolio..Quote:
Originally Posted by SVTMuscle
I was a daytrader for 9 months, and you can believe all the conspiracy thoeries you want, but what it comes down to is you and the market. It's not your software, it's not the specialist trying to screw you, you have no one to blame but your self. Read these 2 books.
http://www.amazon.com/Trading-Zone-C.../dp/0735201447
http://www.amazon.com/Disciplined-Tr...3753561&sr=1-2
you need to take full respociblity for your trades. Never take any one elses "tip" on a stock either.
I knew guys that made 100k+ a month, and they found out how through failing and trial and error and research. I've seen people make $60k in less then 30 minutes.
Here's a screen shot of a trader like that. The trade was busted, but there are people that make this amount in a day.
This averages about $7,000-$10,000 a day. When the market is moving, I've seen him make $20k, when there is big news or a big IPO, I've seen him make $60k.
http://i4.photobucket.com/albums/y142/casper250/day.jpg
Back in the day when i was rich and happy i had invested in a Multi-Hydrocarbon-Industry company in a country called Qatar where i was working for the oil company there, at the time (2000-2004) the economy had just doubled there and stock market was just going up and over-inflated, buy today, make money tomorrow. The good old days.
Then real estate value went waay up and many foreign people flooded the country with new business ideas and there wasnt enough housing to accomadate them, so price of rent became crazy. Everyone left stock market to invest in real estate and the market crashed. People were getting heart attacks in the stock market daily. This Industries company price went from $100 down to $18!! People couldnt even sell in time because nobody was buying!! The stock market crashed horribly!
I had stock in that company and i went down with the sinking ship, the stock price went down but the company is still extremly profitable and the number of shares isnt really that much, the past 3 years we have been getting $4 per share as profits each year and the economy is predicted to double again in the next 3 years.
So i have to be poor for now until the stock market picks up again. Lesson was to sell as soon as you make little profit.
The Doha Securities Market only recently opened it's doors to foreign investors - I think it was April 2006. IPO's are still restricted/distributed to Qatari's (a way to help less-wealthy families buy a new Land Cruiser or something...).Quote:
Originally Posted by KAEW44
One big problem - like the crazy costs for rent - was the inflated cost for shares. They opened their doors and nobody wanted to buy... no demand resulted in a crash. A large number of Qatar's expat population comes from poor nations that don't care to trade securities and the wealthier Westerners tend to stick to their own economy.
To my knowledge, Qatar Airways still has not went public!
Only the flight attendants working in it have gone public! Actually the public has gone into them!!Quote:
Originally Posted by Warrior
Yeah baby! :7up: What a great employment process/screening... :wg:Quote:
Originally Posted by KAEW44
MotoXracer, you say you were a day trader for only 9 months, why so? Did you not like the career? I am just starting to get into this stuff and find it to be really interesting so far.. Have even considered to get into the field in the future when I am prepared. What are your thoughts? pros-cons etc.. Thanks bro..
I've invested for about 10 years and I would not listen to most analysts on CNBC, many are heavily into the market and tell people to buy things so the price goes up and then they dump it. In the tech crash 0f 2001, analysts were telling everyont to buy QUALCOMM, AMAZON.COM, and so forth. Then they dumped all their stock, got themoney and the little guy lost Billions when the market crashed(or corrected itself as they say). As a result, focus came back on profits, not speculation. So if I were you, a good place to start would be with companies that are fairly safe, but still grow...stuff like WALMART, or Home Depot(people always renovate their homes...especially when the next housing boom comes). Stay away from too much tech, but you could have a couple staples like Microsoft or Intel. Finally, the one thing EVERY expert would agree on is DIVERSIFY! Have your stocks from different sectors so whatever the market does, you're OK. Have financials, technology, housing starts, Energy, maybe a little of the international market, and so on. Good luck to you
Quote:
Originally Posted by D-Bo Dre
Sorry for taking so long to get back to you. First off, I can say this with experience backing me. Investing in the stock market is gambling, plain and simple. You have no control about the outcome of your trades, just like rolling the dice. BUT, to be a trader, you don't need to know where the market is going to make money. As a daytrader, you need to know how you are going to react to the market as it unfolds.
Now, I dedicated my life to trading the markets for almost 2 years and in the end, I ended up walking away from it. I quit my comfy 9-5 job to make my go at it so when I tell you these reasons why I walked away, it comes from some solid experience.
So to get to the point, here are the reasons.
1. Day Trading is THE most stressfull job I have ever had. I've seen people in my office almost come to throwing punches it has gotten so intense. The constant making/losing money takes it's toll on you.
2. You have no one to blame but your self. You eat what you kill so to say, which is why I wrote about the conspiracey theories and stuff. What people complain about, every one has to deal with, so how come some people make money and some don't?
3. No security at all. one of my biggest problems was that lets say I make it big, and then 10 years down the line, I can't make a dime, what happens then? Day trading is a dead end career path. You have no marketable, transferable skills from day trading, and most banks look down on day trading.
4. I started finding out about more lucrative PASSIVE investments. This was the biggest reason why i left. The more I looked into this, the more I wanted to get out of daytrading and stocks all together. It's amazing once you start looking into other investments.
Would you believe me if I told you could make 4-6% interest a MONTH! Probably not, but it's true. Have you ever heard of an accredited investor? There are investments out there that most people have never heard of because investments that accredited investors can participate in are, by law, not allowed to be advertised.
But if you want to know any more about day trading, you can PM me. Also, check out elitetrader.com.
interesting stuff.. Thanks for breaking it down.. I can now see how stress can overcome in a profession like that.. Like you said, it's a gamble.. you reap the benefits when your up, and brace yourself for downs.. Like I said, I am still researching this sh*t, and I am sure there are many gray areas that one will only discover through experience or personal advice.. I will PM you if I come across any.. Thanks again bro..
Motxracer... very good posts,, i agree with everything EXCEPT that the market is not crooked to some extent... i wont get into specifics but i know guys that know a guy, who owns a boat :wg:, any this guy knows news on any OTCBB stock he trades days before it comes out, he goes out and meets with major officers in these thinly traded companys, he pumps the shit outta these stocks, he can play with LVL2 quotes and manipulate them anyway he wants, he also drives a lambo and a porsche, No BS...
There are so many pumpers bro that make aliving fixing the market to their favor, Im sure youve heard of the stockster? Hes a mini celbrity out in Cali, Dude makes millions and millions and is paid by companies to make them shoot like a rocket
also just curious bro, you traded at a actual day trading firm like the one out in austin, TX( cant think of the name) or did you trade for youself, ive heard daytrading IS the MOST stressful job anyone canhave.... Im graduating this year and hopfully getting a job as a trader for some hedge fund, hopefully well see
Also, i know im all over theplace, im not one of those conspiracy theorist who belives our capital markets our doomed, but, i belive those who CONSISTITNLY make money know someone who knows something.... Or are very very advanced traders who have been around forever and have an absolute feel for the market... Ive been at it for close to 4 years now, pretty serious about it, taught myself TA and took the summer, to literally, follow and trade every single day from 930-4... and i know trying to trade on timing is not a easy thing to do, to say the least lol:icon_piss