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General Forums => The O' Club => Topic started by: udet on May 03, 2003, 10:27:39 AM

Title: any stock traders or brokers?
Post by: udet on May 03, 2003, 10:27:39 AM: I'm thinking about buying some stock (income type) or maybe some growth stock to sell when it's value increases. The market seems to be rebounding and lots of rosy predictions for this year. Any of you guys into this kind of stuff? Can you reccomend a good online trading site?
Title: any stock traders or brokers?
Post by: udet on May 03, 2003, 10:28:50 AM: P.S. I'm a total newbie in this field. I want to learn some of the tricks of the trade before I invest any money. Any tips?
Title: any stock traders or brokers?
Post by: Toad on May 03, 2003, 03:09:35 PM: Yeah, don't invest anymore than you can cheerfully laugh about losing in case you lose it all.

;)
Title: any stock traders or brokers?
Post by: Cherlie on May 03, 2003, 04:06:01 PM: When buying into a company, look at it's financial statements, see if it has made any profit at all over the number of years.

See if also is within the supply and demand and also its mission statement.

Hope I helped

CB
Title: any stock traders or brokers?
Post by: Curval on May 03, 2003, 07:47:12 PM: I use Ameritrade (which bought Datek Online).

Toad's advice is wise.
Title: any stock traders or brokers?
Post by: SOB on May 03, 2003, 07:59:46 PM: For short term investing, your best bet is to read tarot cards or roll dice, or maybe play rock, paper, scissors with a friend to determine which stocks to buy. Then, watch MSNBC a couple of mornings in a row just to confirm that whichever method you choose is just as sound as anything else. Next, invest your money based on your earlier stock selection method. Finally, get faith...whether it be Jebus or perhaps an idol such as a statue of a bull, and pray. Good luck!

SOB
Title: any stock traders or brokers?
Post by: Mini D on May 03, 2003, 08:00:12 PM: Quote
Originally posted by Toad
Yeah, don't invest anymore than you can cheerfully laugh about losing in case you lose it all.

;)
There's a wink here, but this is the downright best advice someone can give in regards to stock.

MiniD
Title: any stock traders or brokers?
Post by: udet on May 03, 2003, 10:52:27 PM: thanks, I started reading a book about the subject and it was saying pretty much what Toad said.
SOB, I believe that with skill one can make money,it's not just a matter of luck. Well, it's going to be a while till I put this to the test, cause I want to learn as much as possible about the system before I commit.
Title: any stock traders or brokers?
Post by: Holden McGroin on May 04, 2003, 01:33:02 AM: A few years ago, someone told me that if the name of the company has a '.com' in it the share price cannot do anything by skyrocket.... that as**ole.
Title: any stock traders or brokers?
Post by: Curval on May 04, 2003, 07:00:48 AM: Udet,

You can do all the research you can possibly do, you can know someone who works for the company and is touting the stock as a sure thing...and the damn thing can still tank.

But, you shouldn't be discouraged from playing the stocks, just make sure you are doing so with money you can lose, as Toad suggested.

What I do is to allocate my savings into zero risk (AAA rated bonds guarenteed by the US government), low risk (mutual funds invested very conservatively) and high risk (equities, the horse track, a poker game or lotteries). Generally my money is invested 70%, 20%, 10% respectively.

So...10% of my savings is play money.

I don't do the horse track (I've been a few times...they usually have to wait until my pick crosses the finnish line so that they can start the next race), I never play high stakes poker and we have no lottery here. Stocks are the way I play.

But I don't go too crazy.

Generally world events, politics and reading the business section of the newspaper dictates my investing in stocks. For example: 9/11...on September 12, 2001 I bought some Ratheyon shares, knowing that everyone and their brother would be doing the same thing. The price went up about $5. Then I sold. DON'T get greedy, make a profit and jump out. Now, having said that I did the same thing with the war in Iraq...I bought back into Ratheyon and even recommended the stock to Gofaster, I think. At the time the stock was almost $29. I just checked the price..it's now $29.88. Not the greatest at all. Don't forget that I lost on the potential to take that money and buy bonds yielding say 4%..instead the money sat doing nothing floundering around the same $29 price I bought at.

I also have a few general rules:

1. I never invest in penny stocks.
2. I never invest in mining shares.
3. I avoid smaller exchanges..generally I stick with the NYSE and NASDAQ.
Title: any stock traders or brokers?
Post by: Toad on May 04, 2003, 07:47:32 AM: Looking back, what I wish I had done is........

just buy Real Estate. Over the long, long term, that has by far been my best investment avenue.

Buy a good acre, buy an older, smaller house to rent.. whatever. Over the long term... not the short 5-10 year window.. those have done the best for me.

YMMV.
Title: any stock traders or brokers?
Post by: Sixpence on May 04, 2003, 08:12:24 AM: Right on Toad, that is a sound investment. I believe R.E. averages an 11% gain every year.

With brokers misleading clients and fuzzy accounting, I just don't have faith in the stock market anymore. Good luck.
Title: any stock traders or brokers?
Post by: udet on May 04, 2003, 02:12:16 PM: thanks guys for the sound advice.