Any day traders / E-traders out there...

[MaxNoodle]

PM me. I've been watching a specific stock and need some input...

Also, any advice anyone can offer would be good. I'm doing ok for not really knowing what the hell I'm doing...

Thanks.

~ t

 

[audilicious]

I've got a few trading acct's. if you want to use scottrade I can send you a link and we'll both get 7 free trades if you open an account. commission's add up.

Buying and selling is easy. what and when to buy and sell is i guess the difficult part. do some research, paper trade for a while if you want to get used to it before you start using real money.

good luck

 

[Roy R. Frush]

The best advice I can offer is don't quit your dayjob! Market conditions are horrendous as there are no institutions participating anymore.

 

[MaxNoodle]

Thanks..I already have an E-Trade acct...can't help ya out there...(yet) still building. I've been doing paper trades for a while, whats the best source for reliable info IYO?

Thanks.

~ t

I've got a few trading acct's. if you want to use scottrade I can send you a link and we'll both get 7 free trades if you open an account. commission's add up.

Buying and selling is easy. what and when to buy and sell is i guess the difficult part. do some research, paper trade for a while if you want to get used to it before you start using real money.

good luck

 

[amateuraficionado]

whats the best source for reliable info IYO?

I don't know about the best but two good ones are the IBD(Investor's Business Daily) and Mad Money or Fast Money. A lot of people talk smack about Cramer but the bottom line is the guy knows what he's talking about.

 

[audilicious]

First you have to have some major BS detector's if you take anyone advice, even reading through official news and TV reports, not to mention tricky wording in PR's.

Other than Bloomberg, WSJ, I like "ihub" for msg boards, but I really just use any BB to get a sense of the emotion behind given stocks. how much pumping is going on vs. up/down volume

profitspi is nice for some things

Also get L2 if you're going to "trade" and not just buy low sell high long term type investing.

 

[theroberthogan]

Thanks..I already have an E-Trade acct...can't help ya out there...(yet) still building. I've been doing paper trades for a while, whats the best source for reliable info IYO?

Google News. I've been a financial analyst for twelve years, and the reality is that all of the sources you can get information from usually boils down to an analyst using some formula or half-backed logic to base their recommendations. If you are looking to invest in individual company stocks, you need to due your own analysis. I would suggest getting an RSS reader (I use Google Reader) and then subscribe to Google news feeds for the companies or industries that you want to invest in. Follow the news for about a week and you can get a good idea of what the outlook for the company is in the short term.

Also remember that when you invest in an individual company you are only looking for a short term investment. In other words, you should only hold on to a stock for 3-6 months at the most. If you don't think you can make a significant profit on an individual stock purchase in that time frame, then you should not buy.

Of course the rules are completely different if you are talking about investing in instruments other than individual company stocks (such as bonds, mutual funds, or assets like gold), which is usually geared toward retirement investing. PM if you have specific questions.

 

[CoventryCat86]

Sell GM at 30.

Oh wait, that was great advice a while ago. :laugh:

 

[audilicious]

just move the decimal, LMAO!!

 

[wubears71]

Sell GM at 30.

Oh wait, that was great advice a while ago.

Now that's funny (unless you own it).

 

[StatHaldol]

The best advice I've had in the past is:

1) Go into every trade thinking it will be a loser.

2) Cut your losses! Have a good money management plan. It can (somewhat) take the emotion out of a trade.
Don't get in the trap of staying in a losing trade because "it's got to go up sometimes".

3) Never try to catch a falling knife...the trend is your friend.

I've violated every one of these rules back when I thought I was smarter than I actually am.

I went long on coffee back in the early 80's when I thought "It just can't go any lower"...guess what happened?

Want some real excitement? Trade beans or bellies for a while....

 

[theroberthogan]

This morning's quote from a cigar enthusiast coworker:

"Some people are stashing their cash under their mattress, others are pulling out of stocks and buying gold. I'm investing in premium cigars, because when the world burns I won't have to worry about finding my damn zippo anymore."

 

[amateuraficionado]

This morning's quote from a cigar enthusiast coworker:

"Some people are stashing their cash under their mattress, others are pulling out of stocks and buying gold. I'm investing in premium cigars, because when the world burns I won't have to worry about finding my damn zippo anymore."

Tell your friend he shouldn't be lighting premium cigars with a zippo! :laugh: