PDA

View Full Version : Wallstreet



logan3372
06-08-2004, 04:28 PM
Where can one go to start learning the process of getting into the stock market?I have been thinking about it for awhile but not sure where to begin.Any help on this subject for a first timer would be great.

wallstreet
06-08-2004, 04:51 PM
logan,

Great question!

I think there are 10 others who wonder the same thing.

I would begin to educate yourself on how the markets work, how stocks trade and begin to build a list of stocks to watch.

Get a good brokerage. For online trading use Ameritrade, for local I would reccomend Scottrade.

Watch CNBC or Bloomberg and educate yourself on what goes on there.

Get your funds together and in the mean time "paper trade" some stocks..which means make buys and sellsas if you wereusing real funds to gain some feel for the stocks you follow.

Learn how to read charts, read financial statements, read reports from companies. Two good resources are- www.bigcharts.com and finance.yahoo.com

Go to a bookstore and buy a book on trading/charting and gain knowlegde that way.

If this seems like too much work, you can either hire someone to manage your $$$ or buy a mutual fund.

What I recommend against doing for the first 6 months of trading are as follows- Follow this and you will survive!!!!!

1) No Margin- dont use margin borrowing to buy stocks

2) No OTCBB/Pink Sheets/ Penny stocks. Keep with stocks that file financial statements, trade on regular exchanges. Trade stocks that have a chance of survival

3) Avoid message boards. Dont go there, dont tempt yourself, just dont do it.

4) Dont trade options- use that rule for 1 plus year of trading.

Thats a good start. I would recommend not buying a product or service until you know enough about the market that you know what you are buying and how the product works.

Ask questions here, I will always help!

logan3372
06-08-2004, 05:02 PM
I first will buy a book i do watch bloomberg & money market but not enough the book should give me some great insight on reading the charts.Once i read the books i'm sure i will have a ton of questions for you.THANKS FOR ALL YOUR HELP!!

GermanBettor
06-09-2004, 07:34 AM
Logan, you are a good handicapper, you won't have any problems with the stock market.
I won on it the same way I work on my CBB bets.
Information, information, information, a few connections and more information!

I agree with Wallstreet 100% on the messageboard stuff...... First hand experience....:( ....leave these wannabe Ivan Boeskys alone!

I don't know about CNBC, but I will strongly recommend Wallstreet's suggestion to watch Bloomberg TV. I watch it everytime here, although it runs a 4 o'clock in the morning.
It is worth it!

Before you start investing real money, go and make some "paper buys" (like my paper picks, you know)

And please, please, please do yourself a favour and don't fall on the traps of some "stock markets gurus" who publish books like "How to become rich in one month" or "This way you can become a billionaire investor"....these books should rather be called "Thanks for being that naive, you moron. I will have a lot of fun with your money"

OK?
Stock market investing is great! Makes a lot of fun, although it is (IMO) as risky as betting.

Good luck with your future adventures in this field!
GB

wallstreet
06-09-2004, 10:09 AM
GB,

Here is a tip for daytrading-

IPIX

Low float, security stock, it is as wild as I have seen in 4 yrs.

track it, give it a try if you want a big time swinger.

I have been trading 1K lots on this, scalping 10 to 20 cents.

High risk intra day roller, let me know if you trade it, maybe I will post my actual trades..

lol

savage1
06-09-2004, 12:36 PM
Wallstreet-check out wlsf-I did a nice trade having purchased at .75 and .97 and sold for $1.05(it got as high as 1.19).
Plenty of movement and manipulation on this one-it got as high as $5.65 intraday just within past month or two.
Don't stay around too long as mm's control this one.

wallstreet
06-09-2004, 06:12 PM
Savage, you are right...it definately trades odd, strange price movements.

Congrats on the hit. This is the one we talked about before, right???

savage1
06-09-2004, 06:42 PM
Wallstreet-same stock-yup.

GermanBettor
06-10-2004, 07:17 AM
Thanks, but I am invested up to my ass (and a little bit more) in Cosco Pacific Limited.
I made a nice 1,5 grand profit from the MGM stock and I took it instead of waiting for a higher profit.......
I do not have any free money laying around in my depot, everything is invested.

But I warn you, if you are interested in Cosco.... this thing is rated from a German stock newspaper as HIGHLY risky.
It already went down 5 cents (Euro) each stock....but should climp in the near future... I hope!


Good luck,
GB