So I've been entertaining this thought of investing/trading stock for a while now because frankly I have nothing to do at home and I have some money to throw around. Was just curious if any of you guys have either entertained the idea/studied it or have/are currently involved with either. There's more to what I want to ask but I want to see a response first
..I did a "game" which ran off the real stockmarket. Basically you sign up to the website. they give you $1000 to invest into the stockmarket. You pick and chose your stocks, when and what to buy, when to sell.. etc. you pay all the normal fees associated with brokers etc. It's like real life trading, but with fake money. and because it runs off the real market, gives you a better feel to it. GREAT to do before actually investing real money. http://www.asx.com.au/resources/educati ... /index.htm Thats the link for the Australian game.. I'm sure you'll have one where you live though?
Stocks are a great way to make money.. a GREAT way. But if you don't know what you're doing, you might want to learn a lot about the trends of different stocks before you invest in any at all in the real life.
I have an uncle who works with this stuff, but he makes me drowsy everytime he starts talking about his job. I hate economics... but it seems that it's only complicated if you're going for those great profits, otherwise, maybe you manager at the bank must have a few options for you to invest...
Investing is risky, especially if you don't have the proper expertise. I think I heard a quote somewhere that goes like this: "Bulls make money, bears make money, but pigs, they get slaughtered." Of course, it's not to say that novice investors can't make any money at all, but it's probably more dependent on luck. In short, it's probably not a good idea to do it unless you are willing to dedicate a lot of time. And it really depends on the amount you have available for investment.
Yeah...Main thing is you have to be patient. You should try out that site that Junior gave you if you aren't really familiar with the stock market. It actually is fairly helpful.
for stock you need to do at least 3months research on a certain company to make sure you dont go about wasting your cash. Theres no "safe stock" to buy. even if there is, everyone would hav bought it and you will only earn peanuts from it.
I'd rather try currency trading if I were you, it seems way less tricky to me. I've helped my mum and uncle a bit with it and realistically it's still a bit of a gamble so don't put in what you can't lose. I'm not sure where you got your 3 months research from and not even 100% sure what you mean by it. Crunching more data is great and you should take a careful look through the companies prospectus (or get someone trained for that sort of thing) but 3 months research seems like something you just pulled out of thin air..
There are certain companies that are safer to buy in. If you're interested in having stable stock that pay regular dividends, you should research blue chip stocks. They do tend to be expensive, and are more of a long term investment, but still worth looking into if that's the type of portfolio you're going for.
I mostly trade the e-mini futures during the day where I take intraday positions and close them out before 4:15 EST. I enjoy it, but it takes a LOT of time before you get to the point of being knowledgeable and disciplined enough to consistently make money. Most people take five years to get to that point--if at all. Of course almost everyone thinks they can do it and has to learn the hard way that they can't. I use market profile combined with fibonacci extensions/expansions to find entry and exit points. It is a very addictive business--at least for people like me who are very analytical.