He would learned an even better lesson if he had to get a job to raise the $4k. It's not to hard to make it when you use your parents for your hedge/stop loss.
Here is my joy...His name is Moses. We have lived his entire life together from 8 wks to 9 years.Anyways....post with you guys later I am taking Wifey to a movie Fate of the Furious...
http://www.mining.com/iron-ore-price-free-fall/ I took a look at Vale n Rio . Quite a run up but seems quite bearish now. China equity indices pulling back as well. quick bounce/ trade you lookin for?
Rio is a bit of a laggard, although it is a major iron ore producer it is really classed a diversified miner, same as BHP being a diversified miner, I'm not particularly interested in these. Vale is also a diversified mining Co. A quick bounce is what I'll take, but when it hits resistance will re evaluate at the time. Resources (eg gold, copper, oil) most often don't follow the main indices, hence China may fall and seperately due to a falling USD resources can often rise.
I didn't learn anything today. I'm just currently staring at photos of 'trading academy'. Looking at dumb/new traders...just makes me kind of angry...to make a killing in the market. i'm kind of competitive -- always eager to prove myself, and/or beat other people.
A lesson learnt long time ago, I take with less than a pinch of salt analysts recommendations. Case in point is coal, a year or two back coal was a bogeyman on everyones lips. January 2016 the coal index was 10, by years end the index was over 50.
Interesting: the same happened to me. I had forgotten about that election. My account's value was suddenly 9% higher on Monday morning, compared to the previous Friday night. The high volatility of the affected instruments made my program to reduce position size.