My advice is do not listen to so called experts eg Cramer gave a buy recommendation on CNBC on Bear & Stearns day before it went under. Moral of the story, it doesn't matter what you start with as long as you have done your homework and are capable of making your own decisions.
Listen to this guy above. Stay away from the bafoons on CNBC they are all BAD NEWS. Trade the ETF's: SPY, QQQ, SDS, GLD - Use technical analysis and keep it SIMPLE. SIMPLE. Good luck.
the baffoons are all the ones trying to give this guy trading advice. Observation is the simple part of life, anyone can do it. All the guy asked was how much to pay a trader. And I'm just as stupid as the rest of you, I think I gave him a few bits of my hard earned wisdom. But this is getting out of hand.
Please don't trade your IRA- Just the mere mention of Trade and an IRA is unsettling. Though I have nothing to advice other than seek a wealth manager and find a hobby I generally don't see a big success in trading your IRA. @ 10% return a year youre looking at 20k if you are lucky. Pay the taxes on it and move it to a roth then seek out a professional. Get their advice based on your overall status then make your own decision. Best regards. Diversify and have a plan B and C. See you in ten years.
There are times when it makes sense to go to cash. You don't need to "trade" your retirement account; instead you should be in equities while the market is trending up. When the market is down-trending go into the cash component of your retirement account (mutual fund). Only re-enter after the down-trend ends.
that's what I attempt to do, but it sounds a lot easier than it actually is. That's why after 5 years 85% of all fund managers under perform the index. nowdays people are starting to go to GLD instead of cash I've often thought I could manage a retirement account investing in nothing more than GLD, SPY and BND and trying to guess right as it stands now over the last ten years, just a simple mix of 1/3 in each would not have been bad.
well actually, you are better off investing your personal money, and trading your IRA which is protected from cap gains
Try social lending. It's a good cross between a CD/Money Market and trading. I recommend the following: LendingClub.com Prosper.com U-Haul Investors Club Microplace