daughter asks for advice

Discussion in 'Stocks' started by oldtime, Mar 14, 2013.

  1. I told her I am not smart enough to trade stocks, but she is

    I don't want to see her get lost in math over there in options

    or spend nights staring at the ceiling wondering what I am going to do if it rains, like I spent my youth in futures

    so where does a stock trader start?

    I once bankrolled a stock trader, but I had no idea what she was doing

    so where would a young girl who wants to get started look, or what would you advise (besides the usual crap of killing herself now, or taking a cold shower)

    I don't know that much about stocks, but she is a born natural, has all the elements a trader needs, ice water in the veins, she's a good card counter, and can read people, and most importantly she can talk you into anything, a very good salesman.

    I don't know where to point her, other than to point her away from options futures or forex

    this is the new breed of kid, just like all us kids that ran those dot.com stocks up

    so where would you advise a kid just starting out to go when it comes to trading stocks?
  2. S2007S


    Just go long, this market is up 100%+ in 4 years, how can she lose, just by all the blue chips and a few tech companies and sit back and collect, she could even go for the 3x etfs, she will triple her money in little amount of time, BUBBLE ben bernanke isnt going to let stocks fall so its a win win situation no matter which way you look at it!
  3. i believe everyone has to make the mistakes.
    tell her to get a job at an investment advisory/ bank/ brokerage/ fund etc., that way she can be around people who are interested in stocks and earn a paycheck too (especially if she's good in sales) and trade her own account too.
  4. good advice, But she started her own business the day she graduated from high school, and we both agree, neither of us is cut out to be an employee

    she owned her own car before she ever even got a drivers liscence, as a matter of fact, she took her drivers test in her own car

    finally she got a college degree, but who knows who she had to bribe to get it

    I kept telling her she would be a good stock trader, but she always had some lame excuse like, "It is too complicated."

    Now apparently she is serious. If it was a son, I would know exactly what to tell him. But I don't know that much about girls or stocks.
  5. southall


    If she hasn't already then she can start by reading reminiscences of a stock operator.
  6. she can just sit with me and smoke some pot and drink some beer and ask me about my life, but I don't want to scare her about plan B, which is the one Jessie resorted to
  7. buy the dips in a bull market
    short the tops in a bear

    cut the losers, let the winners run.

    don't listen to other people/noise/journalists/advisors
  8. good advice

    how does she choose the stocks to trade?
  9. Does she still hve a business?

    Imo, anyone who runs their own business or runs a business for someone else should know "What's the hedge." If you're an options guy you should be able to steer her in the direction of a hedge for her business with options. All the major cos hedge resources unique to their business, so should she. Obviously, the hard part might be determining the "Hedge". Business is down the hedge is up. Can't get hurt.
  10. only go long stocks that you are comfortable with.
    that you believe in
    you can use some fundamental analysis for this or whatever you like.
    Go short only the shitty stocks (This is a highly secretive and copyrighted analysis term 'shitty stocks' lol)

    I'm talking about swing trading here

    i like to think that if you are only holding good stocks and short shitty stocks, the market can drop 10% tomorrow and i will buy more of my longs. this way you can sleep at night.

    also don't get married to a stock. if your stop gets hit, move on quickly.
    and before you put on a trade, know where you will exit (for a profit or a loss)
    #10     Mar 14, 2013