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Author Topic: suggestions
crockett
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Hi I browsed around the forums here a few months back and planned to start trading then.. However I was held up and never started.

I'm wanting to get started now but I'm not sure which route to go. I'd like to turn the money over fairly fast so I was looking into the micro penny stocks as they seem to be the fastest turn overs.

But I'm also looking for suggestions as I'm pretty new to this and don't even have a broker set up yet. I'll beable to invest around 1k a month to start with. Anyone wanna give up some tips or sugestions? besides buy low and sell high 8)


Posts: 462 | From: FL | Registered: Oct 2003  |  IP: Logged | Report this post to a Moderator
Machiavelli
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i'll give you my suggestions and im sure the other board members will help you as well.. besides the suggestions below.. always do your own research.. dont go by "stock tips" ... because as someone else already mentioned those people probably already own those stocks.. so they are trying to pump and dump them... "stock tips" are like tips you get at thoroughbred horseraces...

1) Read books, stuff on the internet or anything u can get your hands on about day/swing/position trading... ill recommend a couple of books and a couple of sites to get you started.. if your interested in pinkies/pennie stocks ill recommend a couple of sites as well...

Books: How to get Started in Electronic Daytrading by David S. Nassar (i believe allstock.com sells that book as well as amazon.com , ebay, half.com etc.)

A Beginner's Guide to Short-Term Trading by Toni Turner (amazon.com sells it as well as other sites. you can get a cheap used copy)

Sites: www.tradingacademy.com
www.pinksheets.com
www.stockwatch.com
www.toniturner.com

2)Brokerage recommendations:
www.lowtrades.com www.ameritrade.com www.scottrade.com

If i think of anything else ill post later... but like i said im sure the others will give you their suggestions.. my last suggestion is you'll have to either swingtrade (holding a stock between 2 to 5 days) and/or position trade (hold stocks for few weeks) as opposed to daytrade (buying & selling stocks throughout one day )... you wont be able to daytrade for awhile anyways as im told that you need $25,000 for a daytrading account and you had already said you are going to start with $1,000 .. so swing and position trading is your way to go... hope this was helpful...


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poorman
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http://www.businessnews.com http://www.prnewswire.com http://www.otcbb.com http://www.otclinks.com
------------------
Also stockta.com
I agree about reading eveything you can find, your sucses on making money will be greatly influenced by your effort in learning. learn a lot make money, go at it halfway burn your money it will hurt less.

Posts: 1169 | From: Pollock Pines Ca | Registered: Feb 2004  |  IP: Logged | Report this post to a Moderator
crockett
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ok guys thanks for the tips I'll have to check them out 8)
Posts: 462 | From: FL | Registered: Oct 2003  |  IP: Logged | Report this post to a Moderator
   

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