information on stock investing
- Thread starter buffdaddy
- Start date
Off the top of my head, investopedia.com is a great site to learn the jargon. I trade with optionsxpress.com. Rated number one by barron's the past few years. An oldie but unknown goodie, My First Book on/of Investing is an excellent, excellent icebreaker. I can give you some advisory services that are pretty high level when you are looking to take the plunge.
Here's an ad running on Yahoo. I don't recommend buying what this guy is selling but he does make interesting points about people and market trends. When I was in the market I noticed the same thing he's talking about. If you take a minute and study how stocks move and what makes them move you can do alrite.
My name is Michael Parness. My story is short and sweet. I started trading like many others by giving my hard earned cash to a broker. That broker was also a friend of mine. I say "was" because even though he decimated my trading account, he still made big commissions on my trades.
After my broker literally made me broke, I first got down...then I got mad! I decided that there must be some logical reason to why stocks do what they do. Since the market is run by people, it made sense to me that patterns had to exist - TRENDS had to exist! So, I watched the markets all day and studied the results all night. I'm an insomniac so it wasn't like I was missing anything. When I knew I was ready, I started trading using the strategies I had developed. Just like they did when I was studying the market they worked time and again.
My first online brokerage account had $4500 in it and I turned that account into over $1 MILLION!
In fact, in less than two years I turned roughly $33,000 into OVER $7 MILLION!
My name is Michael Parness. My story is short and sweet. I started trading like many others by giving my hard earned cash to a broker. That broker was also a friend of mine. I say "was" because even though he decimated my trading account, he still made big commissions on my trades.
After my broker literally made me broke, I first got down...then I got mad! I decided that there must be some logical reason to why stocks do what they do. Since the market is run by people, it made sense to me that patterns had to exist - TRENDS had to exist! So, I watched the markets all day and studied the results all night. I'm an insomniac so it wasn't like I was missing anything. When I knew I was ready, I started trading using the strategies I had developed. Just like they did when I was studying the market they worked time and again.
My first online brokerage account had $4500 in it and I turned that account into over $1 MILLION!
In fact, in less than two years I turned roughly $33,000 into OVER $7 MILLION!
F
franchiseplayer
Guest
the real thing is learn all you can but you're just playing unless you have $10,000 plus to start investing.
any amount less is just practice. its a LOT of research. And not to knock anyone but i have investment licenses series 6, 63, & 26. My best friend is an investment banker and sries 7 licensed. There's a lotta work and you need EXPERIENCE.
Trend tracking is a strategy but its mostly hidden behind overpriced software claiming it can track institutional investors and you timing the market. ITS TOUGH. Most people can't afford that kinda software and its STILL flawed in a lotta ways unless you've got knowledge and practical experience
So get your info first but I wouldn't expect you to earn huge amounts until you've got some learning and experience under your belt.
any amount less is just practice. its a LOT of research. And not to knock anyone but i have investment licenses series 6, 63, & 26. My best friend is an investment banker and sries 7 licensed. There's a lotta work and you need EXPERIENCE.
Trend tracking is a strategy but its mostly hidden behind overpriced software claiming it can track institutional investors and you timing the market. ITS TOUGH. Most people can't afford that kinda software and its STILL flawed in a lotta ways unless you've got knowledge and practical experience
So get your info first but I wouldn't expect you to earn huge amounts until you've got some learning and experience under your belt.
buffdaddy said:
Simple:
1. Open a trading account with Scottrade: https://www.scottrade.com (a trading account is similar to a bank account, except you'd be using the money to buy stocks. With a margin account, you have access to YOUR DESPOSIT x 2 for buying stocks. Example, open an account with $2K and the bokerage loans you an additional $2K, making it a total of 4K.
2. Research stocks that you'd like to buy. Every stock has a symbol (for example, Apple Computer is AAPL. Microsoft is MSFT etc). Right now, AAPL is trading at around $91 per share, so your $4K can buy about 40 shares. Hold on for a period of time and sell when AAPL hits higher than $91 per share to rake in your profits.
Think of the stock market as legalized gambling.
The above example is just the basics.
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Be Careful Trading on a margin is not recommended for beginners. Take Risks (educated ones) and having fun watching your money grow. Peace and prosperity.
As far as I know, the ONLY individual to build his wealth purely from paper assets, is Warren Buffet and he is the BEST. That should tell you how challenging it can be to make the stock market your first line of defense in wealth building. There is a guy he went to school under by the name of John Templeton, a f*cking Wall Street legend. He has a book that is in any Borders or Barnes and Noble. It is a thick oldie but goodie. Listen, the fundamentals never change. You can start out small, monitor it with a great advisory service and come out big in 5 to 7 years. That is with great advice.
If you are black and don't work on Wall Street, stereotypically, it is too late for you. That's just the truth. You must have the best information and that is in any situation. Blacks rarely have it but getting better every day. When you start getting information that doesn't sound like everybody else's, you might...just might, be onto something. Unless you are dropping big money coming in on IPO's, private placements or institutional investing, all the success stories need to be disclaimered with "these results are atypical." The sh!t is hard but not impossible. Invest in knowledge then go!
If you are black and don't work on Wall Street, stereotypically, it is too late for you. That's just the truth. You must have the best information and that is in any situation. Blacks rarely have it but getting better every day. When you start getting information that doesn't sound like everybody else's, you might...just might, be onto something. Unless you are dropping big money coming in on IPO's, private placements or institutional investing, all the success stories need to be disclaimered with "these results are atypical." The sh!t is hard but not impossible. Invest in knowledge then go!
buffdaddy said:
I reccomend reading this book "Getting Started In Stocks" by Alvin D. Hall. It's a good starter book. I suggest you paper trade before you actually start trading. Plus you can't have a fear of losing money and panicing.
You can actually start with $500 trading or less but you better have a good plan laid out if you are going to start with a small amount like that because you can't afford to lose much. I do 2 types of trading. I fundamentally trade for long term wealth, and I technically trade to gain daily income and to supply my fundamental trading.
If you have more questions, I'm usually on yahoo messenger during trading hours monday through friday. My username is "blacc_monday".
afroyale said:
Never buy on margin. I only have a margin account because you need one to daytrade, but I don't use margin to trade.
There are a lot of trading companies you can choose. http://www.choicetrade.com is a good company for starters because you can trade for $5 per transaction.
franchiseplayer said:
Do you know of a way for me to get a series 7 license without working for a brokerage firm or bank?
