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

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

Way to turn shit around man.

:thumbsup

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

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 :1orglaugh

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!!

BTW any other stock recomendations?

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. :winkwink:

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.

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.

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

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.:2 cents:

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

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.

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

All the money is in Penny stocks :Graucho :Graucho :Graucho

buy low, sell high

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 ...

:thumbsup

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.

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

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

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.

Amazing you have 50k to invest with your level of ignorance :1orglaugh I'm glad I am not your financial advisor, I bet you're one of those people that drive a planner crazy.

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.

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