Thanks... (STOCKTRAD3R) I have limited funds because I am about to finish my senior of college, and my parents just spent about $160K on my education and won't contribute to any of my speculative decisions... otherwise, for the noob part, I'm not sure that definitions fits me well... So, I paper trade, and that does not obviously count as experience, but I think I have a good amount of knowledge... Here are some of the books I have read in the past two years regarding the market (both fundamental and technical): The Psychology of Investing - Nofsinger Beating the Street - Lynch One up on Wall Street - Lynch Confessions of a Street Addict - Cramer Reminiscences of a Stock Operator - Lefevre How to Trade in Stocks - Livermore IPOS for everyone - Killian How I made 2,000,000 in the Stock Market - Darvas Getting Started in Currency Trading - Archer Stock Market Rules - Sheimo The First Book of Investing - Case The Little Book That Beats the Market - Greenblatt The Little Black Book of Microcap Investin - Holtzclaw The Market Maker's Edge - Lukeman Market Wizards - Schwager Getting Started in Chart Patterns - Bulkowski An American Hedge Fund - Sykes Rich Dad Poor Dad - Kiyosaki Pit Bull - Schwartz Alchemy of Finance - Soros Security Analysis (parts) - Graham/Dodd How To Take Money from Wall Street - Oz Wall Street - Geisst Transformation of Wall Street (parts) Also read parts of several different FOR DUMMIES books (i.e Technical Analysis, Hedge Funds, Trading, Commodities, Series 7, etc)
If your parents spent that much on your education, then you probably have, or will soon have, a degree in something useful to society. Please do that instead of trading.
My major is political science with a concentration in government's role in the economy. I think this subject fits perfectly with trading considering that prices of stocks and bonds are particularly affected by the policies enacted by our Congress. I never wanted to work directly for the government nor a lobbyist group. I feel like I have a lot of free time now, so I can pursue trading. Otherwise, I am still going to go into Finance and do something such as Investment Banking. Also, $40,000 + a year is the normal fee for private liberal art schools throughout the U.S. I go to one in Upstate New York, but it is ranked like 57th in the nation (Hobart William Smith Colleges).
No, invest it in GE and enroll in a drip program. You do not have a margin of safety. You want to have a good cash reserve.
GE is way too slow growth for me.. About the Drip Program, it's a good strategy but obviously more so for like a retirement plan.
$15 commission for each round trip on $1500 investment means that you have to make 1% just to get even on your money. On top of it, you want an additional 3.3% daily return ($50 on $1500), which makes it a total 4.3% daily return. Compounded over 250 trading days in a year, you are looking to make a 37000% annual return trading stocks and end up with about $55 million. Think you can do it?
Oh yea wasn't that the stock that fell 12% in one day? Great advice... This guy is a piker. $1,500 and he paper trades. What a joke.
OK, stock_trad3r I heard all of your advice. You can now ignore this thread and focus on other ones. Thanks