Questions from a Newb

Discussion in 'Trading' started by jfallon, Oct 7, 2003.

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  1. jfallon


    Hi All,

    A friend of mine just bought a Mercedes from stock market trading. He trades one or two dollar stocks and says that he makes allot of money. I asked how long it would take to double a thousand dollars. I was expecting 6 months or so, he said he could do it in a few weeks. I was shocked.

    Is this all really possible? If so, how do I learn to do it too?

    Can you guys recommend "must have" books? I don't mind studying. I am an engineer by trade.

    Are there any internet sites that I should hang out at?

    Are there popular forums where people hang out at to discuss this sort of thing?

    Can anybody point me in the right direction as to where I should begin?

    Thanks Everyone,
  2. So, you wanna trade to buy a Mercedes? I'll be honest with will take several thousand dollars to learn trading. If you just wanna do it for the car; it'd be better to put the money to good use as a Down Payment on a Benz.

  3. Better yet why not just ask the penny brokers' phone #'s.
    I hear a few of them are really nice guys and they'll even wire the money to your bank account. Of course, you have to request it!

    First though, you have to read "A Fool and His Money Will Soon Depart". Its a must have.

    The majority on this board have much knowledge with that one.:D
  4. jfallon



    My friend mentioned stops several times. He said that the market had a bad day once and a bunch of his stocks "stopped out". He said that stops were the key to minimizing loss and that $0.50 to $2.00 stocks were the key to big gains. He said that he researches companies allot.

    I would like to learn to trade for a supplemental income. I am willing to learn, I just need to be pointed in the correct direction.

  5. lindq


    Oh Lord, won't you buy me a Mercedes Benz,
    My friends all have Porsches, I must make amends....
  6. dbphoenix


    The market had a bad day once, for about three years.

    If you're serious, you have a lot of work to do, beginning with Winning the Mental Game on Wall Street by John Magee.

    If you're not serious, let your friend trade your money.
  7. If your friend only bought a C240, then he's not doing that well. Most of us have at least S classes and the good ones have SL55 AMGs or CL600s. But it did take us closer to 8 months starting from scratch and maybe two or three books and an hour a week of reading magazine articles. Start with Men's Health because you want to look good if you have a lot of money.
  8. Ebo


  9. I'm gonna have to agree with richtrader. Nothing less than an S-class will do, and even then, an S-430 is outta the question. If you can't get an S-500, wait and save up some more.

  10. Momento


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