I know some of us have talked about this before and I've really wanted to "try my hand" at putting some money into the stock market but haven't had near enough to do anything with. Well I still don't have much money but I think I can manage about $1000, I was thinking of trying $500 in short term (5 months or less) investments and $500 in longer term investments.
For a situation like this, what stocks would you guys recommend buying into, what internet stock site would you guys recommend using?
Some have also talked about making this into a betting thing to see who could gain the most money (percentage wise) in X amount of time. Which is fine and I'd be in but no underhanded information. There's a reason I don't make bets with real money, I can't afford to lose it, especially being new to something like this.
Thoughts?
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The land of opportunity is now the land of hand outs.
Quote:
Originally Posted by RipnChick
Did someone say they wanted a Pringles can from Ripn?
I'm def not the person to give stock advise lol. Sign up at scottrade.com and read around. I did and I play with the penny stocks, who knows maybe someday one of them will pay off lol.
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Rich
When hell freezes over I'll ride there too!!
The only thing that you can do to is invest what you can afford, but do plenty of research on what you're going to invest in. If you're looking to make a quick buck I'd suggest finding a mutual fund or money market savings account. If you're in it for the long run start an IRA or other retirement account and contribute whatever you can afford.
Last edited by flatlander_summit : 02-08-2010 at 08:32 PM.
I am somewhat intimidated to post anything that is not a direct answer to your question but I will anyway because I assume my response is closely enough related to the question. Are you investing to make a quick buck or looking for a long term investment? At your age I would suggest investing in a Roth IRA over stocks. Open one up through Fidelity and keep depositing what you can each year. Never to early to start saving for retirement. When you have more disposable income you can play the market. If you want to gamble, research different sectors that you feel their products or service will have an increased demand in the future, like "green" technology or alternative energy sources. Probably to late for firearm manufactures but that would have been golden a couple of years ago.
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Some people don't understand that this is not just a hobby, it is an obsession.
Powersledder, I can offer you a unique opportunity to invest your money, just send it to me and I will invest in a wildly diverse manner, I cant divulge where but just remember as with all investments this one will carry a risk and I cant by law promise you any returns, what I can promise though is some entertainment. Thank you The Baller.
Short the Euro. The train may have already left the station on that one, but maybe not. My broker laughed at me when I said I wanted to buy Proshares Euro Short Fund, but her shitass mutual funds I bought are down a shit ton, and the ETF I wanted is kicking ass all over town (up about 12% in a week.)
I think ING Sharebuilder is a good cheap spot to buy stocks. DON'T buy mutual funds for a shortterm thing. The fees kill all your profit.
Powersledder, I can offer you a unique opportunity to invest your money, just send it to me and I will invest in a wildly diverse manner, I cant divulge where but just remember as with all investments this one will carry a risk and I cant by law promise you any returns, what I can promise though is some entertainment. Thank you The Baller.
Did your uncle Maddof teach you well young grasshoppa?
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Rich
When hell freezes over I'll ride there too!!
i looked around at e*trade and it seemed like a easy site to use. i would wait for toyota's stock to finish plummeting then buy it and wait for it to go back up. you know its going to look at Fords now.
Power company stocks are usually a good place for long term investment.
I have several and could sell them for enough to buy several new sleds if I so chose to.
The stocks were purchased many years ago and I only had $3000 worth to start with.
Stocks
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