Stock Market

[Mike]

Was wondering if anyone on here as ever purchased or traded stocks in hopes of making some sort of profit. Serious responses only please, I am looking into getting into it.

[Adam]

I've thought about it before, but I don't have the money to invest in it. I did a research project on stock in college and I really enjoyed it. I've kept the stock ticker on my homepage ever since then. I thought if I could get a hold of the basics, I would be good at it, given how much dam time I spend on the computer.

You really need to pay attention to new technologies, businesses and politics to keep your head above water. Especially when it comes to IPO's and penny stocks.

[Mike]

I was watching the news today and it really sparked my interest. AIG had the largest quarterly loss ever of any company at somewhere near 60+ billion dollars. Their stocks went from 50 dollars a year ago, to .50 cents today. I was just thinking, if I bought 100 dollars worth of their stocks now, I would have 200 shares. I would just sit on it for something like 10 years, until they rebound. Thats a 10,000 dollar profit, if they get back to 50 dollars a share again. Now im reading everything there is to know about stocks and trading. I really want to get into it, maybe with some penny stocks or something.

There is an online game where you buy stock with fake money, but the prices of the stocks reflect on the real life market and I think it would be a good way to practice before I blow real money.

I have about 900 dollars a month of "fun" money, so I really wouldnt mind risking alittle bit of it to try and come out big. This is the time to do it, with the market being so shitty and all. I know it seems like a long shot, but I was watching some youtube videos, where this guy was buying foreclosed homes for under 10 grand. Putting under 10 grand into it to fix it up. Then he would rent it out to make his money back, and after a year he would sell it for relatively cheap, 100 grand or so and still make a shit load of money off it. This is comparable to the great depression of the 30's. People who were willing to take risks came out on top and became millionaires. Not many chances where the economy is this shitty, might as well try and take advantage of it while I can. Ive got a steady job with job security, so I really dont have much to worry about.

[YeaItsSlo]

i used to play with it.. that's how i got the money to buy my turbo Buick.. but then i had some bad luck and got greedy and lost a good chunk of money.. now i try not to play with it.. my friend however, has had great luck with it.. especially with the ups and downs right now..

[Mike]

any advice for someone wanting to start up and not too worried about losing money. Im young, no family, no expenses, no bills.

[Adam]

You need to get a broker, and you pay the broker for their services. Some brokers will give you advice on what to do, what not to do. Others will simply buy/ sell what you dictate to them via the phone or online services. They usually charge a fee for each purchase/ sale, and thats how they make money.

http://www.marketwatch.com/pf/starte...tocksIntro.asp

http://articles.moneycentral.msn.com...ockOrFund.aspx

[Mike]

couldnt i use an online service such as e-trader and make purchases and sales on my own?

[Adam]

Yeah, those are just larger online "brokers" as far as I know.

[YeaItsSlo]

couldnt i use an online service such as e-trader and make purchases and sales on my own?

usually you only get a certain number of trades a month.. and if your trying to trade by day, it wont work out for you.. i dont know all the details of that..

[Pedro]

I've thought about it before, but I don't have the money to invest in it. I did a research project on stock in college and I really enjoyed it. I've kept the stock ticker on my homepage ever since then. I thought if I could get a hold of the basics, I would be good at it, given how much dam time I spend on the computer.

You really need to pay attention to new technologies, businesses and politics to keep your head above water. Especially when it comes to IPO's and penny stocks.

X2 on that one. i have had to do or still am working on a few projects for my classes. i have tried to focus on the current american auto industry in my projects, that way i keep myself up on what is going on with it. i will most likely be investing in the future

[armadasx]

usually you only get a certain number of trades a month.. and if your trying to trade by day, it wont work out for you.. i dont know all the details of that..

how did you used to do it?who did you use?