posted
This is a nice board. I'm glad I found it! I have a general question.
I'm a beginner and no knowledge with investing and trading. I'd like to know what is the best option for my money.
I put my $10,000 in ING because I don't know how to invest and do online stocks trading. Well, my money earned an interest of about $400 in one year. Not too bad I guess. I know a lot of people here can earn that much just in one day.
I want to learn and be like you someday. I would appreciate if you can point me to the right direction. I know stocks is like a gamble but I believe if you know what you are doing then you are safe.
I'm thinking about signing in PortfolioCrafter but since I am new, I dont know if it is going to be worth it. According to them they can guarantee a 8%+ Every Month on the Stock Market. http://www.epicinternet.com/articles/article-019815.htm
I appreciate any inputs you can give to me. Thank you so much!
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If you want to play the penny stocks or even naz small cap stocks, learn how to read charts. Learn technical analysis. Papertrade while you learn. Do not listen to anyone else. Make up your own mind. Don't get greedy. Don't be afraid to make mistakes.
Visit stockcharts.com to get started. Read every word of the chartschool area.
Open online brokerage account. Ameritrade or Choicetrade are the only ways to fly. Do not use Scottrade or Etrade.
Penny stocks and small cap stocks are where the real profits are. Screw the big boards for trading. They're for investing imo. Trading is not investing. Penny stocks trade on both the OTCBB (over the counter bulletin board) and the Pink Sheets. OTCBB stocks are required to file with the SEC. Pink sheet stocks are not. Be carefuly with pink sheet stocks. Be careful with group plays.
You will lose money at the start. Don't use any money that you aren't afraid to completely lose. Start with papertrading (meaning pretend you buy at a certain price, pretend to sell, see how you do. Be honest with yourself)
There. That should get you started. Good luck and welcome to allstocks.com.
-------------------- No one ever lost money taking a profit. Remember that.
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ya, papertrade. i lost half my money when first getting into pennies, i've gotten all that back now, more than double my starting funds in a couple years. but jeez, if i only papertraded to start. would have saved me thousands...good luck!
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you'll never regret it...those plays that make you say, "DAMM" I coulda made (whatever):
they'll still be there when you jump in for real...keep goooooood notes...you have to examine your emotions as your picks fall. "ya, it's ok--only papertrading"
but what IF it were your capital?
It's "more than" money--it's a tool to carve out money...
Protect your tools...
GL
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
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Just a suggestion buddy123; Once you do actually trade with real money, try to be as unemotional making decisions as you were when you were paper trading. The loss and gain of money can easily cloud our normal cognitive functions. Good Luck
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hiniv, you mentioned not to use Scottrader, why? I'v been using it now for over 3 years successfully, and like it. Just wondering why you said that...
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lol, umm its when naked short girls sell off their stock... isn't it? I see, BuyTex, well it worked for me so far, I do see your point though, sometimes I enter a symbol into streaming quotes and it doesnt show info, like it doesnt exist, but it only happened on couple occasions. GLTA today!
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For papertrading, what tools or website do you use? I register to investopedia, free simulator program but it's not realtime. It has a delay of 15 minutes I guess.
What is the best option for Long term investment that has a higher gains? I'm 22 yrs old, a computer programmer and I earn 80T/annum. I really have no time in daytrading but I want to just learn the stocks basics. S&P 500 index looks good for 18% but I'm thinking about looking for an advisor for higher gains.
I dont know how to create my porfolio so I'll just leave it to the more experience guys. I know for a begginer it is easy to make a mistake.
Do you have any experience with fool.com or portfoliocrafter.com advisor? Do you think it's worth it?
Thank you guys! If I get good gains then I can donate to this site or to anyone that can point me to the right direction. Information has a cost so It's not bad to share your earnings to others. Just want to be successful with my investment and minimize my errors as possible.
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read my past posts.. save your money and don't rely on Stock advisory boards that charge money for their picks... they tend to tell you about there "winning" picks but almost never there "losing" ones neither.. you are your own best money manager.. if you want to minimize your errors and protect your money as much as possible.. always and i emphasize ALWAYS put stop/loss orders on your positions to protect your profits and limit your losses.. suggested stop/loss orders at between 7% to 10% ...
-------------------- Let the world change you... And you can change the world.
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buddy if you're a computer programmer you should be able to pick this stuff up relatively quickly...spend a couple of nights studying..invstopedia is a great site and also like someone else mentioned read through all the chart school stuff at stockcharts dot com...as far as the 15-20 min delays it doesn't matter if you're paper trading..even the guys trading real money have to live with that unless they pay for real time level 2 quotes...good luck
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