Any good stock traders here? - GoFuckYourself.com

lil2rich4u2 · 11-22-2004, 05:29 PM

ive been on the fence about trading for a long time, i think im ready to move.

i want to put about $50k between 2 stocks. CNC and SIRI

both climbing steady and show good promise.

now ... who do i trade through?

also is this a wise investment for short term? Maybe 4 weeks TOPS then i dump it.

i really dont know shit about this stuff other than it is a good thing when they go up, and these keep going up lol

i know $50k isnt alot of money in the stock game, but its a lot to me for a single investment risk lol

ive heard that i shouldnt drop the cash unless i can risk losing it all. but what are the chances of losing it all? i dont see a very good chance actually.

bah, discuss please

candyflip · 11-22-2004, 05:32 PM

I remember when you were begging for people to send you Paypal money.

Way to turn shit around man.

lil2rich4u2 · 11-22-2004, 05:35 PM

another thing i was curious about ...

lets say i buy 1000 shares of a $1 stock, costs me $1k plus any trading fees, right?

now lets say it goes up 10pts in one day and then i sell, now i have $10k roughly right?

who owes me the $10k and how do i get it? Do they send a check? Wire transfer to my bank? other?

thanks

lil2rich4u2 · 11-22-2004, 05:38 PM

Quote:

Originally posted by candyflip
I remember when you were begging for people to send you Paypal money.

Way to turn shit around man.

if i do this transaction keep an eye on those stocks ... if they drop, expect another thread from me asking for money into my paypal LOL!!!

man i learned so much about saving and it is so simple really, sounds stupid but it took me a long time to figure it out

option 1. spend less than you make = save

option 2. spend barely anything but make a lot = save more

repeat for as long as possible LOL!!

lil2rich4u2 · 11-22-2004, 05:41 PM

BTW any other stock recomendations?

thanks!

paxton · 11-22-2004, 05:45 PM

Quote:

Originally posted by lil2rich4u2
another thing i was curious about ...

lets say i buy 1000 shares of a $1 stock, costs me $1k plus any trading fees, right?

now lets say it goes up 10pts in one day and then i sell, now i have $10k roughly right?

who owes me the $10k and how do i get it? Do they send a check? Wire transfer to my bank? other?

thanks

Assuming you trade through a broker (Etrade, Schwab, TD Waterhouse, etc.) all the proceeds are instantly put in your account.

Of course, you would have to wait for the securities trades to "settle" before you could withdraw the money. Your ability to withdraw the funds is relative to the type of account you have. Most brokerage accounts allow you to write checks, give you a Visa/MC debit card, or will mail you a check withdrawal at your request. Remember that stocks have a 3 day settlement period, and most mutual funds are 1-day.

Back to your original post, there are ways you can buy stock and limit your potential losses. The easiest way is to place a Stop Limit order, but these have their drawbacks. You can also use derivatives to limit losses. Simple put options will help "insure" your investment. Or you could choose not to even buy the stock outright and just buy call options. In this case, your only potential loss would be the cost of these contracts, and it would only cost you a fraction of the amount to have the same leverage in the company you wanted to speculate in.

There are many other strategies such as "covered calls" or dollar cost averaging into a position that you could choose to use. But the basic point is that stock ownership is risky.

Plunking $50,000 into just one or two stocks is very risky. If you're ready to take the gamble, you have to be prepared to take the loss. As you know, there are no guarantees. There's a tradeoff between risk and return that has always existed and always will.

Luc · 11-22-2004, 07:16 PM

i use etrade pro.

their shit is pretty tight, but not good for day trading (as far
as I know).

i got it cause i wanted to try some daytrading shit, buying
a bunch of shit and selling it several times throughout the
day and then buying more.

with etrade, after you buy, and then sell (if you sell <3 days
after buying) you gotta wait for your money to hit the account
again. not sure why they have it setup like that, but it
kinda kills the whole day trading thing unless you've got like
$500k sitting there to play with, even so, you still can't use
it all.

nonetheless, the guys over at etrade have been super
helpful. for $9.99/trade its as cheap as they come for newbies.
like us.

good luck with that shit, i lost a few $g's on google and i'm
gonna cash out for now.

peace,
luc l.

detoxed · 11-22-2004, 07:17 PM

trade through etrade, you'll pay like $10 for each trade and with that amount thats nothing, but investing large amounts in single stocks that you are not involved in is not very smart unless you dont mind losing it all. GO after mutual funds with a 15 year history averaging 12% returns per year.

detoxed · 11-22-2004, 07:19 PM

Quote:

Originally posted by Luc
i use etrade pro.

their shit is pretty tight, but not good for day trading (as far
as I know).

i got it cause i wanted to try some daytrading shit, buying
a bunch of shit and selling it several times throughout the
day and then buying more.

with etrade, after you buy, and then sell (if you sell <3 days
after buying) you gotta wait for your money to hit the account
again. not sure why they have it setup like that, but it
kinda kills the whole day trading thing unless you've got like
$500k sitting there to play with, even so, you still can't use
it all.

nonetheless, the guys over at etrade have been super
helpful. for $9.99/trade its as cheap as they come for newbies.
like us.

good luck with that shit, i lost a few $g's on google and i'm
gonna cash out for now.

peace,
luc l.

You lost money on GOOGLE? OMG did you really buy it above $160? WOW

Veterans Day · 11-22-2004, 07:21 PM

Scottrade 7 dollar market orders, over 500 local offices, no inactivity fees, 500 min to open an account among many other perks. I would do a shit load more research into what your planning on doing, you seem like you have no idea on trading.

stereolab · 11-22-2004, 07:21 PM

if you really want to gamble, look into options. but do your homework.

pornguy · 11-22-2004, 07:23 PM

Hey, I dont want to sound like a dick, but before you sink that kind of money into something you need to do sone reading.

Lots of reading. Pick up a few of the business or stock magazines.

lil2rich4u2 · 11-22-2004, 08:29 PM

yea i know about the whole "you gotta read lots before you jump into it" theory, BUT isnt it a good sign if the shit keeps going up? lol

ive been watching CNC for like a year now, nearly every day is a 52wk high

thats gotta be good lol

Young · 11-22-2004, 08:31 PM

All the money is in Penny stocks

stereolab · 11-22-2004, 08:38 PM

Quote:

Originally posted by lil2rich4u2
yea i know about the whole "you gotta read lots before you jump into it" theory, BUT isnt it a good sign if the shit keeps going up? lol

ive been watching CNC for like a year now, nearly every day is a 52wk high

thats gotta be good lol

buy low, sell high

MikeVega · 11-22-2004, 08:41 PM

I'm a licensed broker .... let me check these out tomorrow and make some calls ...i'm going to recommend anything but i'll tell ya what i would do ...

lil2rich4u2 · 11-23-2004, 09:50 PM

Quote:

Originally posted by mvega325
I'm a licensed broker .... let me check these out tomorrow and make some calls ...i'm going to recommend anything but i'll tell ya what i would do ...

ModelPerfect · 11-23-2004, 10:20 PM

Quote:

Originally posted by lil2rich4u2
ive been on the fence about trading for a long time, i think im ready to move.

i want to put about $50k between 2 stocks. CNC and SIRI

both climbing steady and show good promise.

now ... who do i trade through?

also is this a wise investment for short term? Maybe 4 weeks TOPS then i dump it.

i really dont know shit about this stuff other than it is a good thing when they go up, and these keep going up lol

i know $50k isnt alot of money in the stock game, but its a lot to me for a single investment risk lol

ive heard that i shouldnt drop the cash unless i can risk losing it all. but what are the chances of losing it all? i dont see a very good chance actually.

bah, discuss please

No offense meant, but if you "really don't know shit about this stuff", then don't invest for the short term. Find good, solid companies and invest for the long term.

griffin · 11-23-2004, 11:40 PM

Buy both, put a stop loss at 10% below the purchase price. Risk Management is equally as important as picking the right stocks.

azguy · 11-23-2004, 11:43 PM

Quote:

Originally posted by lil2rich4u2
ive been on the fence about trading for a long time, i think im ready to move.

i want to put about $50k between 2 stocks. CNC and SIRI

both climbing steady and show good promise.

now ... who do i trade through?

also is this a wise investment for short term? Maybe 4 weeks TOPS then i dump it.

i really dont know shit about this stuff other than it is a good thing when they go up, and these keep going up lol

i know $50k isnt alot of money in the stock game, but its a lot to me for a single investment risk lol

ive heard that i shouldnt drop the cash unless i can risk losing it all. but what are the chances of losing it all? i dont see a very good chance actually.

bah, discuss please

You just had to wait until now to get into SIRI? I'm in since it was at $2.5

azguy · 11-23-2004, 11:44 PM

FOREX BABY

azguy · 11-23-2004, 11:46 PM

Quote:

Originally posted by azguy
FOREX BABY

Do yourself and your $50K a favor - wait before you jump into anything new. Learn before you try... Seriously. Don't get SIRI just because it soared in the past few days. It actually hit a 52-week high and is very unpredictable. For a long term (12-24 months) investment - consider MTSX. It's my personal favorite. For a quick buck go to a casino, or get GOOG.

The Heron · 11-23-2004, 11:50 PM

Amazing you have 50k to invest with your level of ignorance

I'm glad I am not your financial advisor, I bet you're one of those people that drive a planner crazy.

canplayer · 11-23-2004, 11:58 PM

If you are putting 50k into 2 stocks, then the simplest thing to do is put in a stop order after you buy them. Ask someone to analyze the stocks and to find you a decent stop. Normally, you figure out your stop first, then, based on the capital and your R, that determines the number of shares you would buy. Since you are putting 50k, I would definitely speak to someone who can look at the charts on those stocks.

davidd · 11-24-2004, 04:43 AM

Forex

You could double that $50K quickly, by quickly, I mean within 30 to 60 days.

We are living in a very good time for currency trading. The dollar is heading in one direction, fast.

Bookmark this post, and this advice, "Go long ANYTHING that is not the USD"

With a good forex account you can leverage your money 10x. So your $50K trades at $500K, a 10% move on $500K is $50K. So if the dollar slips another 10% you just doubled your money.

I have been long the Euro/AUD/NZD since mid 2000. I will not buy my USD's back anytime soon.

-dd

11-22-2004, 05:29 PM	#1
lil2rich4u2 ICQ: 175171926 Join Date: Oct 2002 Location: New York, NY Posts: 11,046	Any good stock traders here? ive been on the fence about trading for a long time, i think im ready to move. i want to put about $50k between 2 stocks. CNC and SIRI both climbing steady and show good promise. now ... who do i trade through? also is this a wise investment for short term? Maybe 4 weeks TOPS then i dump it. i really dont know shit about this stuff other than it is a good thing when they go up, and these keep going up lol i know $50k isnt alot of money in the stock game, but its a lot to me for a single investment risk lol ive heard that i shouldnt drop the cash unless i can risk losing it all. but what are the chances of losing it all? i dont see a very good chance actually. bah, discuss please __________________ HEY!! Unbeatable hosting! Customer service is top notch! --> ISPrime <-- Do a search on any board, their reputation is rock solid .. for years!!

11-22-2004, 05:32 PM	#2
candyflip Carpe Visio Industry Role: Join Date: Jul 2002 Location: New York Posts: 43,064	I remember when you were begging for people to send you Paypal money. Way to turn shit around man. __________________ Spend you some brain. Email Me

11-22-2004, 05:35 PM	#3
lil2rich4u2 ICQ: 175171926 Join Date: Oct 2002 Location: New York, NY Posts: 11,046	another thing i was curious about ... lets say i buy 1000 shares of a $1 stock, costs me $1k plus any trading fees, right? now lets say it goes up 10pts in one day and then i sell, now i have $10k roughly right? who owes me the $10k and how do i get it? Do they send a check? Wire transfer to my bank? other? thanks __________________ HEY!! Unbeatable hosting! Customer service is top notch! --> ISPrime <-- Do a search on any board, their reputation is rock solid .. for years!!

11-22-2004, 05:41 PM	#5
lil2rich4u2 ICQ: 175171926 Join Date: Oct 2002 Location: New York, NY Posts: 11,046	BTW any other stock recomendations? thanks! __________________ HEY!! Unbeatable hosting! Customer service is top notch! --> ISPrime <-- Do a search on any board, their reputation is rock solid .. for years!!

11-22-2004, 07:16 PM	#7
Luc Confirmed User Join Date: Nov 2002 Location: Houston Posts: 1,130	i use etrade pro. their shit is pretty tight, but not good for day trading (as far as I know). i got it cause i wanted to try some daytrading shit, buying a bunch of shit and selling it several times throughout the day and then buying more. with etrade, after you buy, and then sell (if you sell <3 days after buying) you gotta wait for your money to hit the account again. not sure why they have it setup like that, but it kinda kills the whole day trading thing unless you've got like $500k sitting there to play with, even so, you still can't use it all. nonetheless, the guys over at etrade have been super helpful. for $9.99/trade its as cheap as they come for newbies. like us. good luck with that shit, i lost a few $g's on google and i'm gonna cash out for now. peace, luc l. Last edited by Luc; 11-22-2004 at 07:17 PM..

11-22-2004, 07:17 PM	#8
detoxed vip member Join Date: Jan 2003 Posts: 17,798	trade through etrade, you'll pay like $10 for each trade and with that amount thats nothing, but investing large amounts in single stocks that you are not involved in is not very smart unless you dont mind losing it all. GO after mutual funds with a 15 year history averaging 12% returns per year. Last edited by detoxed; 11-22-2004 at 07:18 PM..

11-22-2004, 07:21 PM	#10
Veterans Day Confirmed User Join Date: Jul 2003 Location: The Windy City Posts: 8,403	Scottrade 7 dollar market orders, over 500 local offices, no inactivity fees, 500 min to open an account among many other perks. I would do a shit load more research into what your planning on doing, you seem like you have no idea on trading. __________________ Build a Massive Traffic Network, Hands FREE, Totally Automated

11-22-2004, 07:21 PM	#11
stereolab Confirmed User Join Date: Mar 2004 Posts: 798	if you really want to gamble, look into options. but do your homework. __________________

11-22-2004, 07:23 PM	#12
pornguy Too lazy to set a custom title Industry Role: Join Date: Mar 2003 Location: Homeless Posts: 62,911	Hey, I dont want to sound like a dick, but before you sink that kind of money into something you need to do sone reading. Lots of reading. Pick up a few of the business or stock magazines. __________________ PornGuy skype me pornguy_epic AmateurDough The Hottes Shemales online! TChicks.com \| Angeles Cid \| Mariana Cordoba \| MAILERS WELCOME!

11-22-2004, 08:29 PM	#13
lil2rich4u2 ICQ: 175171926 Join Date: Oct 2002 Location: New York, NY Posts: 11,046	yea i know about the whole "you gotta read lots before you jump into it" theory, BUT isnt it a good sign if the shit keeps going up? lol ive been watching CNC for like a year now, nearly every day is a 52wk high thats gotta be good lol __________________ HEY!! Unbeatable hosting! Customer service is top notch! --> ISPrime <-- Do a search on any board, their reputation is rock solid .. for years!!

11-22-2004, 08:31 PM	#14
Young Bland for life Industry Role: Join Date: Nov 2004 Posts: 10,468	All the money is in Penny stocks

11-22-2004, 08:41 PM	#16
MikeVega Porntrepreneur Industry Role: Join Date: Jul 2004 Location: New York Posts: 12,788	I'm a licensed broker .... let me check these out tomorrow and make some calls ...i'm going to recommend anything but i'll tell ya what i would do ... __________________ Mike Vega-ICQ:253868499-AIM:mikeydicevega

11-23-2004, 11:40 PM	#19
griffin Registered User Join Date: May 2003 Posts: 87	Buy both, put a stop loss at 10% below the purchase price. Risk Management is equally as important as picking the right stocks.

11-23-2004, 11:44 PM	#21
azguy Confirmed User Join Date: Nov 2004 Location: Scottsdale, AZ Posts: 5,167	FOREX BABY

11-23-2004, 11:50 PM	#23
The Heron Confirmed User Industry Role: Join Date: Apr 2001 Location: Michigan Posts: 4,488	Amazing you have 50k to invest with your level of ignorance I'm glad I am not your financial advisor, I bet you're one of those people that drive a planner crazy.

11-23-2004, 11:58 PM	#24
canplayer Confirmed User Join Date: Oct 2004 Location: Cold North Posts: 557	If you are putting 50k into 2 stocks, then the simplest thing to do is put in a stop order after you buy them. Ask someone to analyze the stocks and to find you a decent stop. Normally, you figure out your stop first, then, based on the capital and your R, that determines the number of shares you would buy. Since you are putting 50k, I would definitely speak to someone who can look at the charts on those stocks. __________________ Earn 35-50% at www.casinorevenueshare.com tony at crownvegas dot com icq 272-017-313

11-24-2004, 04:43 AM	#25
davidd Confirmed User Industry Role: Join Date: Jul 2003 Posts: 1,076	Forex You could double that $50K quickly, by quickly, I mean within 30 to 60 days. We are living in a very good time for currency trading. The dollar is heading in one direction, fast. Bookmark this post, and this advice, "Go long ANYTHING that is not the USD" With a good forex account you can leverage your money 10x. So your $50K trades at $500K, a 10% move on $500K is $50K. So if the dollar slips another 10% you just doubled your money. I have been long the Euro/AUD/NZD since mid 2000. I will not buy my USD's back anytime soon. -dd