LB.Motoring

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Robby Leuer

lflkajfj12123

i thought to do day trading you must have a minimum of a couple thousand to start trading.

other wise investing in stock and switching your placements through like e-trade isnt a good way to trade stock.

i think trading currency is minimum $250.

anyone who knows more about this chime in please and fill me in.

0100

Are you talking day trading or swing trading?

Pattern day trading you need $25k min.

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TougeHero.com l SilviaV8forums.com

BustedS13

i started with less than a grand on scottrade. i took it all easy, kept all my money in blue chips, for a very long time. about a year ago i got a little more active, and now i monitor my stocks while i'm at work. all you ford haters, i made 8% from thursday to monday

to really see gains, though, you do need several thousand in. but start small. don't even put money in if you haven't done it before. give yourself a fake grand of capital, and write down your trades. and don't fudge your numbers. do it for a month. don't forget that it's 7 bucks a trade, buying or selling.
Money magazine wrote a good book on stock trading. it's about 20 years old but it's worth a read, it's about 120 pages. find it.
oh, and go watch Wall Street. it's the Fast and the Furious of the stock market. and maybe Boiler Room, too. that one has vin diesel even >.<

make a yahoo account if you don't have one. finance.yahoo.com is invaluable. make a portfolio, track the stocks you're interested in.

get a subscription to USA Today. throw away everything but the Money section. and if you have Adderall, try reading the WSJ. it's fucking BORING, though.

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lflkajfj12123

hey busted who do you trade with

ive been wanting to start day trading a bit but i thought you have to have an initial couple thousand

BustedS13

well.... you do. i don't day trade with my own money, actually. that's where my dad comes in. but if you just want to get your feet wet, i use scottrade.com. 7 a trade, $500 minimum.

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LB.Motoring

^ My boss suggested scott,

I might actually use some extra money and go into it,

he also suggested schwab, they have attached banking which is awesome.

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Robby Leuer

lflkajfj12123

i believe e trade has attached banking too

BustedS13

e trade's 10 bucks a trade, no shanks. plus there's a scottrade outlet right down the street from me, so if something fucks up i can go yell at a real person, which is great

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aziankingz

man you guys lucky to trade for so low..my company requires me to use their account..costs me about $35 a trade and no day trading..right now im in Visa, which has great potential.. if i were to day trade, i would definitely be in some commodities or etfs...

Sil-Abc

search nub http://www.zilvia.net/f/showthread.php?t=167590
hahaha dont hurt me =[

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IM JON WAYNE ESQ.... bitch

ziptiedae86

Sil-Abc,
Haha I remember that thread. What'd you end up doing? How is your portfolio now?


To the OP,
I highly recommend Zecco. There was a review by one of the writers on pfblogs.com (great resource as well):
http://divguy.blogspot.com/2008/04/z...account-1.html

The way to make money in the stock market is to buy and hold, and there is a big difference from being a trader and being an investor.

Do you really want to spend your summer researching your stocks, constantly reading every piece of info thats released about it, checking the ticker 3,4,5 times a day to see if its changed? That's the life of a trader. An investor finds a reasonable stock and keeps it for a long period of time, letting the power of compound interest run its course. Investors are in it for the long haul and a day, week, or month's loss is insignificant seeing as these people tend to hold stocks for much longer. Everyone in the market should include buying/selling fees, taxes, and %inflation in their ROI(return on investment) so you can see how trading less benefits the investor in the long run.

I can list a ton of books out there. But the bottom line is that you need to find a strategy and risk tolerance that you are comfortable with. Picking stocks by throwing a dart at a list of ticker symbols is as likely to make you money as an active investor on wall street. Also, PAST PERFORMANCE DOES NOT GUARANTEE FUTURE RESULTS.

LB.Motoring

^ I was also looking at Zecco.

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Robby Leuer

Sil-Abc

haha i ended up not doing any of it. I got too scared to jump into so much that i just scrapped the idea. mayb when i have more free time haha thanks for all the advice tho. at least now i have a better understanding of stock trading than i did before

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IM JON WAYNE ESQ.... bitch

womenbeshoppin

damnnn, first a BMW, now your trading stocks on wallstreet. Your INSANNNEEEE!!!

LB.Motoring

hahaha,


Im trying to work on a porsche track car also...

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Robby Leuer

womenbeshoppin

shiiit, i wish i was half the man you are =(

ziptiedae86

aziankingz, I really disagree with the Visa stock. Here's why. Unless you got in at the IPO price ~$44, then it wasn't much of a deal. Buying an IPO when it is available to the public (~$63) is no the same as buying at the IPO price. Everyone who got in at the real IPO price will sell after their 30-60 day hold is over and Visa should gain support again at $50-55. Like I always say, PAST PERFORMANCE IS NEVER AN INDICATOR OF FUTURE RESULTS. Mastercard is a completely different company and its very unlikely that Visa will experience the same success that the Mastercard IPO encountered. Additionally, its only a matter of time (2nd quarter 2009 for most markets) when those overextended homebuyers can't afford to pay the rest of their bills and it starts affecting credit lending companies. Buyer beware!

Sil-abc, just do paper stocks (stock simulator) at places like investopedia.com and see how you do. Vanguard index funds are where I keep my money. Not the best returns, but very safe and super low expenses.

For everyone wanting to get in the market, now is the time to do it. While youre young. If anything, start with a Vanguard Roth IRA and open a Target Retirement account and start socking away money into that. There are fees if you maintain a balance less than $10,000 but they will automatically select stocks for you and rebalance the asset allocation for your portfolio as you get older (more risky as youre young and safer as you near retirement). You can contribute up to $4000 for 2007 (up to April 18th) and $5000 for 2008.

Its not how much you save but WHEN you save. The earlier, the better, to let compound interest take effect!

ziptiedae86

LB,

What's your risk level? If you're looking at something that is likely to do well, look into emerging markets funds.

As for specific stock picks check out Vanguard Diehards forum for all the latest rumors and speculation.

Personally, my time is worth more than anything else, so I choose NOT to actively manage my portfolio as a trader. I select funds and have the fund managers do the worrying for me. I diversify by selecting index funds instead of putting all my eggs into one basket, and always dollar cost average. While the market is down and everyone is panic selling, I buy. Not losing any sleep because one stock is doing bad frees me up to worry about other things like fixing something on my 240 or planning for an upcoming driving event.

LB.Motoring

^ Nice info, I hear you on time, Im not looking to go crazy, I'm prob going to put money into solid physical companies (utilities etc.) that I use currently, and maybe Play with a little on the wild side.

Thanks for the Link!

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Robby Leuer

Helghast

I was going to dabble into this a year or so back.
I had the financial backing of my cousin.
He was willing to give me $30k to start with, but I had to intensively do my research.

I read a couple of books here and there, but all in all it got too confusing, too quick.
I was also studying for my engineering, that's why.

I've always wanted to do it, but I can't seem to save enough money to actually get going.

I'm TERRIBLE with budgeting, too much wants.
=*(

I was gonna use E*Trade.

I might do it in a year or two, but house is my priority as of right now.

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TiNMAN

penny stocks if you wanna day trade. just cop lots of shares and keep an eye on it.

i use e*trade. had a couple of shares of google when it was at ~175

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I AM LEGIT.

Sil-Abc

i heard penny shares are very risky

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IM JON WAYNE ESQ.... bitch

aziankingz

ziptie, thanks for the input. I didnt invest too much into Visa, as it is just something I believe will have future potential growth. Visa's business model is the same as mastercard, as they both make money through their credit card transactions. So everytime you use your visa/mastercard to buy car parts from an internet source, they make money through a transaction fee, which is charged to the bank card/financial institution. A good thing while in this volatile market is, visa and mastercard will not endure risks during a credit crisis such as this..the financial institutions are the ones who will be hit with the losses when card holders can not pay off their debts/bills. Visa/Mastercard will surely see a drop in earnings, but in this day and age, electronic purchases/bill pay is king, which makes Visa and Mastercard a good buy for long term investors. I am sticking to this for the long run anyway..wait until we are out of this recession..

BustedS13

as in all things in life, high risk=high reward.

for instance. yesterday i bought a good chunk of Xerium Technologies. and when i'd bought it, they'd already had a huge spike, but had come down a bit.. i got in for $1.74. i just sold it all for $1.90, a 9% profit. and here's the thing... my GOAL profit for any given trade is 3%. between this and ford, i'm weeks ahead on my goals

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aziankingz

why F? is it because the price is only about $6/share? you could be in for a nice ride though..just quickly looking at the charts..but fundamentally speaking, automotive companies are not a good buy to me right now with dollar falling, and oil prices rising.

BustedS13

a "good buy" is entirely subjective. i don't hold stock for more than a week at a time, preferably only days at a time. Ford showed me a 50 cent gain, so i sold. maybe they'll go up more in the weeks or months to come. maybe they'll drop, but that's not my concern. i made my money and got out. so to me, ford was an excellent buy.

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aziankingz

how many shares did you buy to make .50 gain an excellent buy? do you concentrate on one stock at a time or do you pick a few and hedge your weekly positions?

BustedS13

an 8% jump is a good buy no matter how you slice it, especially when i only aim for a 3% gain.

i usually only focus on one stock at a time, unless i see something else that looks like a good venture. my trading style can be extremely risky, but the gains are worth a little sweat.

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aziankingz

my trading strategy was pretty risky too at times but i learned my lesson there..