so there is a thread thats kind of like this but I was hoping to get one where people that trade a little more frequently like throughout the week to day trading can come together and figure things out as well as challenge each other. Hope it goes well
My first stock that im looking at right now is Kellogg Company. Its food based(whats the smarter term for this) so it should not have taken a hit like others during these last few months, but the stock has. It reports earning on August 2nd. It reached $48 and took three days to break below, however that was a time when the dow and s&p were on a small rise. im talking about the last four days of the week ending 7/20. I was looking at buying it and did at $48 and change but soon sold when next days low was below the previous days one. Its now $47.64, down 5.7 percent for the year and Im excited to see where it opens on monday and what it does. Im obviously optimistic on it. Problem is that its on a bearish trend over a year and it would have to break that, but thats where the big money would be. cant wit for monday
It's just my opinion based on what I've seen, but over the long haul, if you break even consider yourself lucky.
K is a consumer staples company. I would advise you to focus more on the fundamentals of the business rather than the chart. Sure there are many technical guys, who operate under the guise of their historical patterns, albeit almost all of the successful guys in the field are fundamental or quant guys. Technicals are much less reliable than the technicians would like you to believe. i don't follow K, but will give you my 2 minute assessment. It seems to have an attractive yield and the valuation certainly seems reasonable. Future growth will be tepid, although in this yield environment I'd much rather own this over bonds. My only concern would be commodity price rises, and to what extent the company is hedged. They have some pricing power, but these droughts in the midwest are sending corn much higher. I'm presuming you won't find many investors here, as bud and finance do not mix well. The most important thing to do is start investing while young, preferably in a Roth IRA if you have taxable income. -I work at a highly respected investment firm
That's not true, except if you are conducting market neutral trading whichby nature involves 90% of people losing money. Equity value tend to rise 7% a year over the long term, granted this is over a very long time period, in the short term they are very volatile. Many investors have a hard time stomaching the volatility which leads to them selling at the worst possible time. The best thing for most non professional investor (and 90% of professionals) is to buy a portfolio of mainly dividend growers (via ETF if youdo not know what I'm talking about, so you only have to buy one thing), and sit on it for as long as possible. An example of this is VIG. Remember to reinvest those dividends in any dividend paying asset, and you'll actually benefit (over the long term) from recessions. Your portfolio will still go down in a recession however your dividend reinvestment will continue you automatically buying all the way through the bottom. So when stocks return to flat, you'll have gains (although don't sell).
I hope this goes some where. What investment firm if you don't mind me asking? And what is your job title?
Of course stocks generally go up as time goes on, but he was talking about day trading. Jumping in and out of the market is like trying to hit a moving target. Buying and selling at the wrong point -- despite an overall market rise -- will sink you. This was my point. Again, he -- and I -- were talking about day trading.
I will not disclose anything that can be traced to me in anyway, as smoking marijuana is viewed extremely negative in the industry and would cause irreversible damage to me and my company (we are a small outfit personnel wise so it could easily be traced to me). I honestly do not know a single person in the field who smokes, although I have suspicions about one individual. I apologize for this but I will have to proceed rather vaguely, but I can share some general background details. Attended one of the top business programs in the country. I worked as an analyst at one of the nation's top performing funds. I've worked in alot of specialties from CEF/levered ETF arb, earnings analytics, international investing, etc. I also ran my own proprietary trading firm, wealth management firm, and have experience in most fundamental based fields of investing. Fizzly: Yes Daytrading is not advisable; K is a rather peculiar name to daytrade though.
[quote name='"PrescientVA"']I will not disclose anything that can be traced to me in anyway, as smoking marijuana is viewed extremely negative in the industry and would cause irreversible damage to me and my company (we are a small outfit personnel wise so it could easily be traced to me). I honestly do not know a single person in the field who smokes, although I have suspicions about one individual. I apologize for this but I will have to proceed rather vaguely, but I can share some general background details. Attended one of the top business programs in the country. I worked as an analyst at one of the nation's top performing funds. I've worked in alot of specialties from CEF/levered ETF arb, earnings analytics, international investing, etc. I also ran my own proprietary trading firm, wealth management firm, and have experience in most fundamental based fields of investing. Fizzly: Yes Daytrading is not advisable; K is a rather peculiar name to daytrade though.[/quote] Understandable. Thanks for the information. Looking at going into that type of career.
Honestly dude if you want to be successful at trading anything online you need to work your practice account for a couple years before you trade with any real money. Any money you do make when you first start out is just luck. Btw, working for a big investments firms doesn't make you a better trader or make you know much more than an average joe who is just starting to trade. Day trading for yourself as a business has very little to do with working for someone else and handling trades on their rules/requirements/margins. Also, business school does not help you learn anything about trading securities or business.
^ ok but thats what this will hopefully turn into. people that follow the markets on the regular. i currently have a simulated portfolio and its cool and all but some pressure of knowing you might be wrong in front of people is different. kinda like a simulated portfolio and real life trading, they are no where close to each other. this is just another way to improve hopefully.
Some quick comments, practice trading accounts work great. But people generally don't learn as effectively without real money. You analyze a losing trade much more if you actually lost money. Even if it's just a hundred bucks, it will accelerate your learning curve. Sinnerman:Agree with Big firms, most of the remaining guys at JP Morgan, Goldman, BofA, are quite incompetent and can't beat the indexes (granted that's the nature of the distribution curve with taxes, commissions, etc), still I don’t think too highly of them or their sell side research. Most of the good guys at those firms left the last 24 months due to inadequate comp. Their current guys still know much more than an average joe though, as they inherently learn something unless they work in operations (Their prime brokerages divisions get to process the trades of all the top guys). Business School will teach you the basics about equities, bonds, option pricing models, margin requirements, etc, so I don't see how you think it will not help you learn anything. Business School doesn't give you a competitive advantage, but it helps somewhat and looks good on your resume. As a little guy the one advantage you have is in low liquidity/arb situations, I would make sure to capitalize on those opportunities. illrolling:How long are you holding these positions for? I may occasionally chime in during special situations.
I bought some Kellogg Company today but I think it might still go lower so I also put in a stop sell order at $46.90 so the most I would lose is $370. The commodities cost didn't set in/or affect the costs yet I don't think(correct me if im wrong PrescientVA, but isnt that right?) so this quarter should still be okay. the reward/risk ratio is also I think 2:1 The stock has not been this low since the first rally from the financial crisis. So yeah im really liking this stock. Also started looking at Pandora for the next move and facebook is cool too, one thing they haven't done yet is set up a business that prints and sells the photos that people upload. that would be pretty good lol lol
alright so I'm making money on K right now but the stock is below the Dow right now, however they are meeting as the day continues. and corn and wheat are still kicking ass. I will be selling on any kind of weakness. I did add to my position today.
meh, i made 25% of my starting money doing a practice stock trade thing my senior year for my economics class in like 4 months, with very minimal effort at times. i ended up being beating everyone including the teacher in terms of making money, and won a zimbabwe $50 trillion bill.