posted
I'm new to investing and got an Etrade account funded this afternoon early. I wanted to get in on the FHAL and take a chance but Etrade message pops up when I try to but it:
For the first seven business days after using our real-time account opening feature, you are restricted from short sales, extended-hours trading, and trading OTC Bulletin Board securities.
I guess I screwed for 7 days!! My life sux.
I look forward to becoming part of this group.Seems like some really good folks on this board.
When I first started trading, I was reading the boards and I was so anxious to get into these great plays that I was reading about. But, like you, my money was tied up for three days. However, for some reason, Ameritrade did let me buy some securities and I thought I was really getting over on them by being able to buy before my funds had settled.
I promptly jumped right into RSHN as it was going up and also VKWM. Those two stocks are now two of my biggest losers. The reason is that I was in two much of a hurry to learn more about trading before I bought in.
My point is your not being able to trade may be a blessing in disguise.
Take some of your time while you wait to read some of the threads on the newbie board and also there's a thread I started over in hot stocks that folks have been giving advice in.
Wouldn't want you to end up like me, having to dig yourself out of a huge newbie deficit. I am still learning, but if I knew then what I know now, I'd have a lot more capital to play with.
Jo
-------------------- "Great Day for Up!"....Dr. Seuss Posts: 3387 | Registered: Mar 2006
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posted
Thanks for the advice. Believe it or not I have said the same thing 3 times over the last 2 days. A Blessing. It just so happens that I wanted in on the FHAL and watched it go up to .645 at closings the other day so I signed up and was going to get in and by noon that day it was at 1.55! I would have gotten my capital out at 1.37 at 10:30. I wouldn't have made it to 1.55. but I still would have gotten out and would have had the perfect start and gotten spoiled which is probably dangerous. LOL
I have been watching closely for a while and wished I had set up my account 2 weeks ago so I could have gotten in when I wanted. I have a lot to learn and look forward to it.
Posts: 57 | From: Mississippi | Registered: Jul 2006
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posted
Zeus: Don't worry too much that you missed a play. There's always another brewing.
A corollary: don't panic buy and don't chase a run. If you're not positioned right, let it go. There's another one right behind it. Prepare for that one. (Advice I follow imperfectly, but when I ignore it, I usually regret it.)
"Pump and Dump": you'll find people on stock boards who will talk big on a stock not because they believe in it, but because they own it (usually at a loss). Their purpose is to get enough people to buy so that the PPS goes up and they can sell for more. If it works, they get out, the price goes down again because the MOMO was fake and all the people who listened to that person lose.
The pump and dumper gains by hurting those around him.
There is also the person known as a "basher" who will bash a solid stock to get people to sell to drive the PPS down so that he may buy at a cheaper price. Like the P&D'r, he gains by making others lose.
Jo's advice is solid. What others here will also tell you is use this time to practice trading--what's called "paper trading". That way you can gain experience without risking money.
-------------------- Me Trade Pretty One Day. Posts: 815 | From: NYC | Registered: May 2006
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posted
I'm new also. I just started paper trading about 1 month ago. I'm so glad I am doing that cuz some of my trades would have gotten me in a big red hole. Although I have to admit that I like Zeus have wanted to get in on some of the terrific trades I seen come off this board. I have been following these threads for about a month and a half. I am learning alot. Still a little hard in figuring out who is a pump and dump person though.
Have not gotten my broker yet. Any suggestions?
Oh and Tex thanks for all your efforts in putting all the threads together for the newbies.
posted
Zeus, I absolutely relate to everything said here. It happened to me also. You really need to take the time to read all the Press Releases on a stock and try to get into their Q1,Q2,Q3,Q4 reports and financials.
When I first started I was real methodical [and still am] - I have two recorded books I keep for myself on a daily basis. I have file folders on every stock I took/take an interest in. I can easilly go back at any time to check their patterns, runs and history. I keep VOLUME which is essentially VERY IMPORTANT A- AS YOU CAN NOT EASILLY GET OUT IF VOLUME IS VERY LOW. I think 400,000 is about the lowest in seeing how YOU will fare. You need to see if the stock has MOVEMENT and POTENTIAL. This all comes from watching, reading and taking an interest. When I first started - some of the Programs coming to cities gave a lot of clues as to what ot look for. I WENT TO EVERY ONE. i picked up a lot of free information. I also discovered that there are many FREE sites that give the same information that some programs require huge monthly sums for. I bought one that helps me but I have not been rookied into all their hype on their expensive other offers.
IT TAKES TIME ZEUS - AFTER ONE AND A HALF YEARS OF THIS - I CAN SEE HOW TO STEER MY SHIP THAT ALSO GOT INTO TROUBLED WATERS. [tHAT CAN TAKE YOU A LONG TIME TO GET OUT]. SO- A word to the wize - TAKE YOUR TIME - nothing is running away from you - new opportunities come along daily. By staying on these boards you will learn a lot for your information too. MAKING MONEY IS FUN - JUST K-N-O-W WHAT YOU ARE DOING.!! Watch the stocks you T-H-I-N-K you like and ONE LAST GREAT PIECE OF ADVICE:
DON NOT, I SAY AGAIN - 'DO NOT' BUY FROM ANY HYPE THAT COMES TO YOU MAILBOX IN THE FORM OF MAGAZINES, BOOKLETS AND THE LIKE. THESE ARE PEOPLE WHO H-U-R-T MANY AND ARE CORRUPT. They build [PUMP] a stock so believably [So they can sell theirs when the price automatically jumps - they DUMP] hence: 'PUMP AND DUMP'.
You buy it because it sounds so absolutely fantastic and a week later it starts dropping, dropping, dropping AND THERE YOU ARE STUCK FOR A YEAR OR MORE AND CANNOT GET OUT WITHOUT A LOSS.You Gambled - They took your money and ran. Pennies ARE that way!!! BE YE CAREFUL. Best Wishes, Lucky
Posts: 188 | From: MISSOURI | Registered: Jul 2005
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posted
Wow. thanks for all the info. I am really trying to educate myself every free minute I have. I have been keeping the TV on bloom channel at night, watched Cramer today too. I have been watching several stocks consistently.
What real time streamer is the most popular. I have an Etrade account and one may come with it( not sure at this point) or is there one I need to get?
posted
I recommend paper trading for all newbies for at least 6 months or so before using real cash, while following along with the stocks, charts and message boards for that period of time as well.
Zeus, hopefully you've had a chance to read this thread in your waiting period:
posted
As of this morning I am hooked up with the quotetracker using my membership to Etrade. I look forward to seeing how it looks during the day.
I also have about 25 sites added to my favorites dealing with all aspects of stock trading. I have only had the time to actually visit 8-10 of them. I have a lot of studying to do but because of this board I have learned alot already and am defintiely on my way.
I can now research each stock on my own and try and start piecing things together. At this point all I am able to do is study the charts and read about recent PRs. Thanks to everyone for the help so far. I really appreciate it and please keep it coming.
posted
Zeus, paper trade for atleast six months first. Read everything you can find about charting. Read every thread on this board. Then when you can say "Wow.. I really knew nothing back then" you can start trading.. Otherwise.. just send me your money and I will send you back a dollar with a note that says "congratulations you've just experienced your first reverse split".
Posts: 2965 | Registered: Aug 2005
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posted
LOL. But that wouldn't be nearly as much fun. Thanks for the advice but you know I will jump in sooner than that. I can't help myself. I am looking at about 3 different ones today but may not do anything but paper trade. GW, SIRI, and GZPN. All 3 for different reasons but only looking to turn 5-15% on each. Do any of these look taboo in your opinion?
posted
GW looks close.. you might have to hold it for a month or two. SIRI stay away.. it's far from done with the downtrend. GZPN maybe maybe not..
Posts: 2965 | Registered: Aug 2005
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posted
Thanks. I was looking at the alpha chart comparing SIRI to the market and it looks to be diving right along with it. GW was my first pick. GZPN will be a definite paper trade at this point.
posted
Yes! stay away from 'SIRI' - those crooks will kill you going either way [Long, short]- options - They are a rigged deal and know what you will do better than yourself. IT'S AN INSIDERS STOCK FOR SURE.!
In fact who was it that recommended 'businessjive' Dr. Byrnes slide show presentation [Dark side of the looking glass]- It was great and anyone entering the Market should see that first because IT IS ALL TRUE.
They are trying to finally get to the bottom and clean house B-U-T until they do - You all must see this presentation. It is skillfully and nicely done.
quote:Originally posted by Peaser: I recommend paper trading for all newbies for at least 6 months or so before using real cash, while following along with the stocks, charts and message boards for that period of time as well.
Zeus, hopefully you've had a chance to read this thread in your waiting period:
I 100% agree. If you don't know what L2/Pump and Dump/DD/how to read charts/research/etc....then you really need to step far away from your computer and think about what the hell you are doing. Do states allow "BLIND PEOPLE" to drive cars? Some of you are just "PREY" for these hungry "PREDATORS". But seriously.....play around for a while. Pick stocks out and write down on paper what you would do and why you made that decision....then write when you think you need to make adjustments and why. Over a months period, you will start to see patterns and hopefully have a better understanding of how the MARKET works. But until then, just send me your money and I'll gladly take it before you give it away to a STRANGER....LOL.
Posts: 2367 | From: Detroit | Registered: Mar 2005
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posted
Thanks for the great advice. I realize I don't know enough. I do know what these things are now but am in the process of learning how to research. I am taking it slowly. I was going to buy GW this morning but chickened out at the last minute and it is up 5.16% by lunch! I would have reached my 5% goal and sold right now. It may go on up but I will cotinue to watch and see. I am in no big hurry but do plan to get involved. I won't go to the casino for a while and football doesn't start for a month or two so I got a little extra "tuition" money for the class. LOL. Thanks again!!
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