I've been into long term investments for a while. Its easy, low maintenance, low risk investing that has waaayyy higher returns then any savings account, the only problem being is its equally as boring. I'm looking to get into short term trading with a possibility of day trading in the future. Done some poking around with strategies and stocks and was wondering if anyone does the same and could teach me some things. Also, I may have stumbled on a 1-5 day penny stock gold mine. The stock is SNPK, who just landed a small time advertising deal yesterday as well as a 90 store 6 month contract for some new drug. It closed near the daily low yesterday and i'd imagine over buying is going to push the stock through the roof today. Stocks 55c right now, but I wouldn't be surprised if it peaked above 80 today. If only I had a hundred to throw at her...
Might want to look at FOREX trading. Very low capital requirements, markets are open from Sunday evening until Friday afternoon, 24 hours a day. Most, if not all, brokers will charge no transaction fees. Their money is made on the spread. All that being said, I think it is like Wall Street. Rigged by those, for those, who hose us all.
I'll look into it, and how could it be rigged? Also, for shits and giggles check out snpk. I woulda made my 15% in just 20 minutes
Rigged like Wall Street. Big money moves to protect financial interests. You know, when the market behaves illogically? Market moves that have no explanation, other than "market perception".
Sure, but can those risks not be minimized with moving averages. A long SMA shows the true direction of a stocks value while a short one will show how the market is reacting. Atleast this is my very basic understanding of it. Getting out on a downslope can still yield profits, its just getting greedy that will get you burned.
I have wanted to get into investing but have 0 experience... how would you advise a beginner in the world of investments?
I'm not a big fan of forex trading but if you want to give it a shot babypips.com has a "school" tab which you can study for free and it provides a lot of good information. I learned it all and pulled about $400 a month for a while barely doing anything, then got bored and was like whatever lol..
Was a registered rep/broker/financial adviser for 12 years. Got out in 2008 when the economy took a downturn and started a consulting business. But I still manage my personal portfolios as well as some family. Still watch the markets like a hawk all day.
Trade currency. Its high risk high reward. You should start with at least 5 k which depending on your situation can be a bit steep. I know some people start with less but that's a safe buffer. Set up a practice account with forex.com till you get the hang of it. Ive done it a few years now and if you learn what you are doing you can make bank but also potentially lose everything edit: looks like people already pointed this out. oh well
Well, yes and no. I was speaking more of daytrading than actual longer term investing. Longer term movements are impossible, Imo, to manipulate. Those are dictated by one thing, Earnings. What are earnings? LOL Whatever they decide to publicize. Day to day movements in price are much easier to manipulate. Wtf do you think a stock buyback is? A corporation taking advantage of low prices... low prices that are based on their own guidance to analysts. hmmmmmm
Yeah, CNBC is my background noise all day Though one has to be amused by all the fluff. Try the best sativa you can get your hands on.... puts the talking heads into clearer perspective.
I was told I have a nack for it. What I do is look for trends many times lows and highs are often in the same general area so buy when its at its low and sell when its at its high point. Also keep and eye on current events. I hate to say it but when the earthquake/tsunami hit Japan I made a shit load of money >_>
You can trade anything with a chart and indicators out the wazoo. OH, and you don't need anything near 5k. Lots of places, you can start with $50 US or less. Think mini-forex. Tons of free demo accounts all over the place to try it out. I used to trade stocks, options, funds, etc., but never again. Currency markets are subject to manipulation like any other market, but you can play the volatility more easily. It may seem boring to be sitting at 90+% in cash, but you can generate double digit returns every month if you have the discipline.
Like I said that's what I recommend. people start with less but having 5k can get you started and give you a buffer for newbie mistakes. My dad started with 500 and sank that shit like it was nobodies business.
Yeah it can happen no matter what you are trading. If you go all in, you will lose at some point. Must have a gameplan for money management. It's kind of like, no, it IS like being at a casino. That's why some free demo time, and a small account using MINI forex, are the best way to go for a newbie. It isn't expensive to trade FOREX. It costs me $2.65 US to open a position in the Euro. This is .01 lot. Just sayin..... it is fucking dirt cheap to get started in FOREX trading.
Just go to Vegas and play their casino games...at least you get free drinks and if luck is on your side, free room, meal tickets and possibly a nice looking prostitute.