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Do any of you help friends/family with trading, be it by physically controlling their accounts or just giving actual buy/sell advice (I'm not talking about an account for a spouse or child, but someone outside of your house).
My wife think I'm gonna end up in jail for helping friends learn about the market, and I think she's being a bit mellowdramatic.
But i was curious if I'm the only one, or if some of you do it too.
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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A friend and I help each other. There's nothing wrong with it as long as you know up front that you are all responsible for your own decisions. Good or bad, up or down. Just like here - the advice is worth what you pay for it. Anyway - my friend knows we can call each other in a flash to log onto each others account to make a trade - usually a sell if one of us can't get to a putter to pull the trigger. As far as teaching someone - you guys have taught me quite a bit - I've lost some and gained some - followed some and made some on my own. My choices the entire way. As long as you're not putting something in black and white like a traders agreement I don't see how you could be held liable. IMO your friends and family can gauge your reliability upon your successes or failures. No one will be right all the time.
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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no law against peeps sharing info...(well, obviously, not insider info), and I think your broker agreement says no one else can trade from your account. But, bow howdy! If I asked a bud to call up my acct to close a position --and that in turn caused trouble? I'd be really pizzed... As Boo mentions, I think that's a great "backup" plan, if you can trust whomever.
The guys to watch for are those who promise x-amount returns if you just give me y-amount cash...sadly, peeps get burned by those types every year. But it started long before online trading...
Saw a funny "story" elsewhere, in which a trader had some friends who got so interested, they'd come over and hang out during session, kinda watching the action... Apparently, for awhile it was cool, but then one started bugging him to "teach me how to day-trade."
Finally, the guy said, "Go to the back, withdraw $10,000 cash. Dig a pit in your back yard and burn it.
If you can stomach that, come back and I will."
lol...
Personally, I would never *encourage* someone, as in, "Ya, know, you oughta get into trading."
But someone interested enough to come pay some dues, I would try to help... Actually, I've had the idea to get a house that could be fixed up and sold for profit...but first on the list would be to make a trading room. Then after session, I would work on the other rooms. Eventually, sell the house, rinse, repeat...
sorry...lol...long-winded You hit a "button," I guess
[ November 13, 2007, 20:04: Message edited by: T e x ]
quote:Originally posted by T e x: ....The guys to watch for are those who promise x-amount returns if you just give me y-amount cash...sadly, peeps get burned by those types every year. But it started long before online trading...
I've been presented with that offer. He wanted to give me money. No way jose. Pay down debt and check your insurance policies. Then see a real broker about some mutual funds. My style is already high risk enough.
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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I got a heads up about DLAV but I thought it was BS...Someone said they called the IR and something nice will be out soon (today), it went up 583% today..
If I call up do the ir DO THEY usually give you an idea when a pr would be out?
Posts: 1075 | From: weeeeeeee | Registered: Sep 2007
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I will be managing a account for a family that im close to... they know the risks and that i will be trading short term.. but i won't trade pennies with their account just Big Boards...
-------------------- Let the world change you... And you can change the world.
Ernesto "Che" Guevara de la Serna Posts: 4669 | Registered: Mar 2004
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feel free to private message me when ever you have that kind of news. I think if an IR gives you the info. (investment representative) then i would be his a$$ not yours for capatalizing on it. hes spreading the info. you just heard it. or didnt. its all hearsay and conjecture...
quote:Originally posted by Free Muney: feel free to private message me when ever you have that kind of news. I think if an IR gives you the info. (investment representative) then i would be his a$$ not yours for capatalizing on it. hes spreading the info. you just heard it. or didnt. its all hearsay and conjecture...
Its never for sure...but if I think there is something worthy to post..(a rumour) or somthing I will post it. If only I had bought DLAV it was perfect...resistance at .0005 ready for a bounce...You can't win 'em all though... Posts: 1075 | From: weeeeeeee | Registered: Sep 2007
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Mach, could you give a range on the price of stocks you're speaking off, when you say big board? chuck Posts: 330 | Registered: Nov 2007
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$5 and up (Non-Penny stocks traded on NYSE, AMEX, NASDAQ etc.)... are big Boards to me... Penny stocks are technically defined as stocks below $5 per share... anything above it are not really considered Penny stocks and I consider Big Board stocks. Personally the best stocks imo to trade in are in the $20 to $60 range but if you can find stocks in other price ranges like $5 to $19 and $61 and above that looks good to you then go for it...
-------------------- Let the world change you... And you can change the world.
Ernesto "Che" Guevara de la Serna Posts: 4669 | Registered: Mar 2004
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mach, reason for the question, it just appears to me that most of the people on this board trade penny stocks. I have nothing against penny stocks by no means.
It's just that the other day when I posted on a stock that had a spread of three dollars during the day. There seemed to be no interest. I think the symbol was (JRJC).
I try to trade stocks that has a range of at least one dollar during the day. But now that is not set in stone. Just from your opinion, is this board set more towards penny stocks?
quote:Originally posted by chuck9: mach, reason for the question, it just appears to me that most of the people on this board trade penny stocks. I have nothing against penny stocks by no means.
It's just that the other day when I posted on a stock that had a spread of three dollars during the day. There seemed to be no interest. I think the symbol was (JRJC).
I try to trade stocks that has a range of at least one dollar during the day. But now that is not set in stone. Just from your opinion, is this board set more towards penny stocks?
chuck
As Tex says.. yes with penny stocks... though i try to advocate people to trade big boards more... imo the ones who make the most money at this game trade in big boards... the ones who trade in pennies exclusively in the beginning (noobs) do it out of greed and to "get rich quick".... they figure to buy tons of shares at .001 and sell it at .01 and they will be rich... most won't achieve that... they are penny or micro stocks for a reason... most are scams or are so diluted that it takes alot to get one to move in price... and people do not practice discipline and cut their losses... best example imo was the stock QBID... Tex can tell you more about that... i told people to get out of it but they were all convinced it would be at $10 per share in 1 years time lol most if not all lost their shirts on that one...
-------------------- Let the world change you... And you can change the world.
Ernesto "Che" Guevara de la Serna Posts: 4669 | Registered: Mar 2004
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Chuck9...if you want to post about Big Board stocks I would recommend the lion.com, Wealth university at Ihub, or the Naz board at Ihub...Here are the links...
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Spades, I really appreciate the input, because I have been trying so many places. If I do like these particular boards. Well, just let me say. You guys have been a nice group of fellows. chuck Posts: 330 | Registered: Nov 2007
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Don't see much "volatility" on big board stuff unless it's in the hot stock section - like Tex’s hot stock thread which is like your hit and run type action. My guess is everyone likes a conspiracy and it's better found in the pennies. lol. Only a few like to talk to themselves on their own thread. lol.
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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Chuck, I'm trying to move more towards Big Board stocks, but have a lot going on right now. I'll start postign more again after this week, I think. Even if no one's really replying, it doesn't mean people are not reading, so keep doing what you're doing.
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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Appreciate all the comments guys. If I can help in any way please do not hesitate and give me a post.
If for some reason, you guys have a problem reading my posts or my charts. Just throw a brick my way, to get my attention. chuck Posts: 330 | Registered: Nov 2007
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You hit a "button," I guess![[Razz]](tongue.gif)
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If only I had bought DLAV it was perfect...resistance at .0005 ready for a bounce...You can't win 'em all though... 
