Allstocks.com's Bulletin Board: trading for dummies

This is topic trading for dummies in forum Micro Penny Stocks, Penny Stocks $0.10 & Under at Allstocks.com's Bulletin Board.

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Posted by Debbie on :

I am new and confused a good part of the time. I have bought into 2 micro stocks. I come to the boards and read what ya'll have to say... all greek i must admit. All the different terms that are used, information about numbers. Just wondering if there is a book for dummies. Not that i am a dummie but a book that is easy to use that teaches one the trading of stocks. I just want to be educated and know the basics of ya'lls discussions.

Thanks D

Posted by glassman on :

this should help a little.. LOL
http://www.allstocks.com/edu/html/internet_lingo.html

it looks like you went straight to the basement here...LOL

if you didn't stop and look around in the lobby, i suggest you go and do that.. allstocks offers a lot of help up there...

Posted by Dardadog on :

http://www.rookiedaytrader.com/ http://www.tradingschool.com/ http://www.daytrading-university.com/daytradingstocks.htm http://www.tradingeducation.com/ http://www.investopedia.com/
http://www.traderslibrary.com/

------------------
You Must Adapt To Your Opportunities And Weaknesses. You Can Use A Variety Of Approaches And Still Have A Consistant Result. - Sun Tzu, "The Art Of War"

Do Da Due.....But Be Damn Quick About It. - Dardadog, "Da Art Of Daytrading"

DaDog

Posted by Debbie on :

Thanks alot

Posted by Upside on :

Debbie,
You truly are on the bottom of the investing food chain here. If you have the means, invest in something else. If you're here out of necessity, learn all there is to learn before investing. Don't make a hasty decision and invest in something you will regret later.

Posted by glassman on :

pennies are for trading...
have fun....
don't fall in love with your stock....

Posted by BT on :

Debbie. This might help you draw up some log term goals for you. It's always good to have a plan.
http://www.rollercoasterstocks.com/building-investment.html

" If you started out with just $5,000 and managed to make only 10% per trade each month investing in penny stocks, you could end up with $1.5 Million in just 5 years. "

JUST 1 TRADE PER MONTH WITH A 10% PROFIT.
Good luck.

Posted by Debbie on :

quote:
Originally posted by Upside:
Debbie,
You truly are on the bottom of the investing food chain here. If you have the means, invest in something else. If you're here out of necessity, learn all there is to learn before investing. Don't make a hasty decision and invest in something you will regret later.

Have already invested just alittle money in 2, CMKX and QBID. So now I am playing a waiting game on both, but if I trust what is being said on the boards QBID should start a move soon. Time will tell and I am patient. Havent invested more than I can afford to lose.

Posted by glassman on :

everybody has different styles...my most success(in pennies) has come from stocks between .01 and .25...
i look for companies with low numbers of shares in the market(the float) that release regular PR. they need to have good news to release tho. LOL

Posted by roger7485 on :

quote:
Originally posted by Debbie:
Have already invested just alittle money in 2, CMKX and QBID. So now I am playing a waiting game on both, but if I trust what is being said on the boards QBID should start a move soon. Time will tell and I am patient. Havent invested more than I can afford to lose.

"If I trust what is being said on the boards"

Debbie, if you never learn anything else about stocks, learn this one thing. NEVER EVER TRUST WHAT ANYONE SAYS ON A MESSAGE BOARD, EVER.

A message board is just a tool to help you with your investing, not to hold your hand and invest for you. Many people use message boards for their own personal gains and have their own interests in mind. This can lead to people posting manipulative and deceitful things on message boards. Anything you learn on a message board should be verified, especially if the information has to do with the prospects of a specific stock. Best of luck to you Debbie.

[This message has been edited by roger7485 (edited August 29, 2004).]

Posted by glassman on :

i have to agree with Roger on this one...
not speaking of any specific stock....
learn how to DD. Trust your own DD. Learn how to read charts...trust the charts....
lots of people here post piks...i take their pix and do my own DD

Posted by roger7485 on :

My post was not meant to say that QBID or CMKX is a bad investment(holds tongue), but as a general rule, especially on these very small stocks, people who post have alterior motives.

Posted by Love the Market on :

Welcome Debbie!

Here are a few terms you'll see around here too, and you'll want to understand:

pps = price per share

DD = Due Dilligence (research/homework on a stock)

MM = Market Maker

OTC = Over the COunter

Pinks = Pinik Sheet stocks - very risky and non-reporting as far as financials go

AS or A/S = Authorized shares

OS or O/S = Outstanding Shares

Float = the number of shares actually circulating in the market.

RS or R/S = Reverse Split - baaaaad thing! Learn this one. An RS is one of the BIGGEST risks of owning/holding penny stocks

Bid = What the MMs will pay for your shares

Ask = What you have to pay the MMs to buy shares

Spread = the difference between the bid and the ask

POS = piece of sh_t (a stock that isn't performing the way the shareholder would like it to - LOL)! ;-)

LOL = Laughing Out Loud (Hey - some people don't know what it means)!

There are many more - but those are some of the most common ones.

Also - when you see things like Q3 or S8, etc, these are Financial Filings that you'll DEFINITELY want to learn. Darda Dog has posted some great references above - as have others.

Good luck and welcome to the club!

Steve in FL

PS - Hi Roger! You back in school? My 3 kids are. 2 started Grad school last Monday and my youngest is a Jr. - all at UCF now!How was that month long backpacking trip
you were going on? As I'm sure you've seen - there are still many of us STUCK in CDVJ.
Good luck this year in school and the market...

Posted by Junky on :

fyi, this should have been posted in General Investing Topics

to answer your question about a book for dummies-

"How Wall Street Works" - New York Institute of Finance

for investment terms u might want to buy Finance & Investment Handbook by BARRON'S although www.investorterms.com is a good resource and it's free

Posted by Maelien on :

Hey Deb.
Do alot of paper trading. That's pretending your trading. Find stocks and write down the price as if you bought them. Then just follow them each day and thru the day and see how they do, do this for a long time. See what they do, if and when you should have sold or not sold, or more likely that you shouldn't have bought at all.
Old Curt

Posted by BigT1 on :

Debbie I was glad to read that you had not invested more than you can afford to lose. That is probably biggest mistake newbies make along with getting in such a hurry to get started they forget to learn the basics,lol. Best decision I made as a newby was to stay away from boards. Once you start they are a hard habit to break and at times can be useful.

My advice to any newby no matter what they are interested in trading is buy Peter Lynchs book 'One up on Wallstreet' which will give you good basic knowledge. You can find them at used bookstore for probably $2. Another helpful source is Peter Leeds online book which is free on his site, 'pennystockinsider.com'. He tries to sell his service with picks there also but dont join unless planning on trading in the $3 to $5 range which majority of his picks are. Good site though.

Some will try to be helpful with best intentions but still do your own DD (due dilegence) before you buy any stock. Stay away from Raging Bull and other boards as most on there are not helpful and many will burn you intentionally. Go slow, learn, earn.

Posted by SCinFL on :

quote:
Originally posted by 1BigTip:
Debbie. This might help you draw up some log term goals for you. It's always good to have a plan.
http://www.rollercoasterstocks.com/building-investment.html
" If you started out with just $5,000 and managed to make only 10% per trade each month investing in penny stocks, you could end up with $1.5 Million in just 5 years. "

JUST 1 TRADE PER MONTH WITH A 10% PROFIT.
Good luck.

Curious about...
Do you use rollercoaster or any premium site? Are any of them any good?