VET
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.
Banned
I've been a pro daytrader for 7yrs now.I win some,lose some,but I look at my end of the week returns.As far as your 500.00 goes,save up your money.You can barely open an account with that.If you just want to invest long term,then pick a stock and buy it.As far as daytrading goes,you need at least 25,000.00 to open an account under the NASDAQ rules.If you fall one penny below that,you go on equity call till you get it back to 25,000.00.As daytrading goes,I've seen 1000's bust out quick.It's not an easy game and long hours of research.Yeah,I'm home all day(except for the gym)sitting with 7 screens in my face from 6am til 5pm.I'll trade in an out of 50-60 stocks a day.Sounds like fun huh? DBOriginally Posted by KeyMastur
VET
Okie dokie, there goes that idea. Guess I'll just stick to playing War in the casino.
Banned
Smart move bro.You'll have more fun.I break about 4 keyboards a week,and smash at least 1 TV a month.CNBC is responsible for TV breakage.DB
Quadzilla
Do you have to day-trade to do this?Smart move bro.You'll have more fun.I break about 4 keyboards a week,and smash at least 1 TV a month.CNBC is responsible for TV breakage.
Banned
Nah,any one can,it relieves the pressure sometimes though.Do you have to day-trade to do this?
New Member
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.
Member
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.
Member
I certainly don't have time/inclination to day-trade, but I buy/sell stocks on a more "monthly"-type basis, you could say.
Anabolic Member
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..
Senior Member
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.
VET
That's all I was thinking. Something where I could buy a lot of shares with and if it increases say .15 points or so, sell it and make 20 bucks or so. Just something to try out ya know ?
Senior Member
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!
VET
I currently have all my money with Merryl Lynch. The guy my family and I deal with - I have no idea what he does with it. I probably should, since it's my money and a nice chunk of change. I know most is in Mutual Funds or the other long term things that are pretty much guaranteed to earn money. I think there's about 20 K spread out over about 17 stocks maybe?? I saw the paperwork once. I need to check in to it more.
Respected Member
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.
VET
Haha. Yes, I do that on War.
Anabolic Member
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.
Banned
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
Senior Member
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.
Again,
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 $500 ANYWHERE without crossing that boundary.
Good luck with your future too bro. By the way you come off, I doubt it will be long here at AR
Quadzilla
Hell no they take money out of my check for 401k and I got a statement saying I lost money!!! I mean come on... I needed that 5 dollars.. now im down to 3.68$..
Banned
It's true,us pro daytraders are cocky,but against young brokers like you who cost 100"s of 1000's of people money in the crash of 2000.Instead of telling your clients to sell and go short,you guys kept saying it's only a correction and buy the dip.But you wouldn't know about that cause you were still in school.On another note,you are correct,there is a place for full service brokers indeed.Daytrading is definitely not for everyone.Actually I recomend full service brokers for those looking to long term trade,as long as they research what thier broker is recomending to them to buy into.And I do all my homework and know all the rules,was just keeping it simple here for those who don't understand this business.As for me coming off the way I did with you,yes you seemed offended but it was a simple disagreement on points of view,I don't think you get banned for stating your oppinion in a legit debate.I never flamed anyone on this board ever,and was not flaming you either,we just don't see eye to eye on some things.And if I'm not around that would be your gain right.But don't underestimate me I'm old enough to be your father.Show some respect young man.I've been in the market while you were in grade school.
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.
Again,
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
MMA Competition Sentinel
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.
Banned
Glad to here your doing well,sounds like a well rounded 401K.Quite a few people have seen thier 410k cut in half,glad to here you weren't one of them.Just keep an eye on where they shift thier money.But I like hearing stories on this kind of thing,and really glad you didn't get hurt.Take care. DB
Anabolic Member
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???
VET
If I had that kind of money I'd buy a few duplex's and rent them out. I want to buy one down in Jupiter, FL. I can rent it out during the winter months for sky high prices for all the snow birds that come down.
Quadzilla
Banned
Pm me,I'll give you some solid short term plays
MMA Competition Sentinel
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.
Anabolic Member
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
Banned
Sounds like a hedge fund. DB
Junior Member
Could you elaborate more please?Pm me,I'll give you some solid short term plays
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.
Anabolic Member
mutual funds that diversify in international holdings (janus for example) have made me a substantial sum since the big dip of 2000. i lost a fair amount of what i accumulated since i got greedy and had a bunch of money tied up in both enron and worldcom.
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.
Junior Member
Thanks for the advice, but what does any of that have to do with the Real-estate market?
Banned
big money in the foreclosure end of it.I have friends doing exactly that now.You just have to turn them quick,that's the secret.Rental properties are not that bad if you get the right price.Creates monthly income and pays off the bank as well.I was talking more about home buyers.The prices are to high in some areas and when the bubble bursts they'll see thier property go down in value much more than they paid for it.Rates are going up so they'll get a double fuckin'.I like your idea and think you'll do well as long as you turn over the foreclosures quickly and don't be greedy.Sell for a fair price that you can see a nice return.Remember PIGS get slaughtered.7-10% profit in a few months is sweet.Good luck on your venture. DB
AR Jester
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.
Banned
Now that's my smart Tampa buddy thinking
AR-Hall of Famer
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.
Banned
Right you are Rickson,and it's sad to see these young couples unaware of what's lerking in the future.This bubble has me very scared.Will impact the economy in a severe way.Not to discount all the families that will be effected. DB
VET
ok but what about buying a duplex / apartment, furnishing it, and renting it out ??
MMA Competition Sentinel
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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