Newbie needs help

Discussion in 'Professional Trading' started by Lt. Dan, Jan 5, 2006.

  1. Lt. Dan

    Lt. Dan

    I just started looking into investing. I have 20k to start and the problem is I dont know where. There are thousands of newsletters and information that claim they know what stocks to pick so its a bit confusing who is good and who is full of it. So my question is two parts. If you had 20k and wanted to make 2-5k every month in the stock market what would you do (or is that even possible)? and second, what do you think is the most reliable daily stock advice out there? Thanks in advance for the replies.
  2. oh god, you're going to get blown up here.
  3. Take the time to learn this game before you invest a penny!

    5k a month on 20k? Not going to happen my friend! Lose 5k a month is quite possible though...

    Read some good quality books, practice with demo accounts, learn T/A and F/A, and keep learning them. This site a really good, with some good traders, so make sure you listen to what they have to say...They have all been there.

    Interactivebrokers have a good demo, so give that a try after you create a decent strategy.

    If you are looking for some easy money, this is not the place.
    PM me if you have any questions. You might get flammed pretty bad :)
  4. Buy GOOG, and Hold GOOG.

    Would you buy BRK.A at $600 if you knew it was eventually going to $90,000?
  5. simonee


    The best advice is that you read as much as you can on ET, then you can answer your own questions.

  6. plugger


    Depends what the market capitalization was at the time. GOOG has a very large market cap.
  7. bvam1



    Setting high and unrealistic goals = forcing yourself to take on increased risks. This is how many beginners lost everything they had. (I was one myself)

    The more important question to ask yourself first is: what is the safest way to invest my money? You should focus on finding the safest way(s) to make the kind of return you would like to make.

    I guess you've decided to trade the market, so my advice to you is to work out a system first. Backtest your system against historical data. If your backtesting is successful, then, you can proceed with real trading.

    To look for ideas, read the old posts in this forum. GL to you!
  8. if I knew it were going to 90k, I believe I would have something more valuable - omnipotence!

    I'll take it!

    Seriously, though - paper trade and make paper profits before you put any real $$ at risk
  9. They also said BRK was overpriced when it was $2,000.. "The highest priced stock of all time."
  10. Of course it's ''possible''. So is winning the lottery. I can't believe there's 1 of these posts every 2-3 days lately!

    #10     Jan 6, 2006