Anyone here involved in Stocks Trading?

[Carlito]

Hello Meso Bros, I was just wondering if any of you buy/sells/trade stocks, I am about to buy me some I will start by buying penny stocks and hopefully see them grow I am still learning all about trading, have to say it is a very interesting biz and very risky as well.
I'd like ou guys to please share your experiences or thoughts on this subject.
Thanks In Advance!!!


Carlito

[Fast Food]

Originally Posted by Exosist

As a former wall st broker let me give you some good advice....

Dont ever take stock advice from anyone!

There is no such a thing as "inside tips"
Its all hype greedy people like myself used to create to get greedy people like yourself to buy the shit out of a stock so that we can sell the shit out of it on our end.

Dont trust the brokers. Nothing but overpaid phone salesmen.
We know nothing, because we dont care. We make money no matter what.
if you lose or win. thats why we are the brokers.

Use the head that G-d gave you, go online research the shit out of everything and anything. Trade with paper money for a few months.
Penny stocks are a gamble and are not for new traders.
Like I said paper trade for a few months.
Better to lose Monopoly Money then your hard earned.

So again, learn before your churn.

You are right this is a very interesting biz. I still trade my own funds almost every day.

But I was smart about trading, when I left Wall st. I spent 6 months paper trading. thats what I suggest you do.

Hope this helps bro

very good post EXO, and I agree wholeheartidly with you!

[Carlito]

I appreciate your honesty EXO, thanks You are right I should probably not jump on it right away just because it looks good the penny stock I am referring to is CNDD ( Concorder America) and yes I have been researching but there is not much info about it all I know is that it went from $3.20 to $4.91 in 6 days! and I feel like I migth be letting a good opportunity pass by.
But from a logical view it is too good to be true, thanks a lot for your advice I was just going to buy 200 shares this week, I will wait and paper trade for a while I am sure another opportunities will come up later...
Carlito

Originally Posted by Exosist

As a former wall st broker let me give you some good advice....

Dont ever take stock advice from anyone!

There is no such a thing as "inside tips"
Its all hype greedy people like myself used to create to get greedy people like yourself to buy the shit out of a stock so that we can sell the shit out of it on our end.

Dont trust the brokers. Nothing but overpaid phone salesmen.
We know nothing, because we dont care. We make money no matter what.
if you lose or win. thats why we are the brokers.

Use the head that G-d gave you, go online research the shit out of everything and anything. Trade with paper money for a few months.
Penny stocks are a gamble and are not for new traders.
Like I said paper trade for a few months.
Better to lose Monopoly Money then your hard earned.

So again, learn before your churn.

You are right this is a very interesting biz. I still trade my own funds almost every day.

But I was smart about trading, when I left Wall st. I spent 6 months paper trading. thats what I suggest you do.

Hope this helps bro

[scherejs]

penny stocks are garbage. there is a reason why they are trading so low. the companies aren't worth shit. yes you can make money with them, but they are very high risk. it's a lot lower risk trading in more solid companies. getdiesel

[Dowstrategy]

I am a financial professional and I bump Exocist comments. Especially when it comes to penny stocks. I have over 200 clients that I do financial planning for. Just how much time do you think someone like myself has for researching penny stocks. The answer is zero to none. Second point; if it is a sure fire deal why am I calling you who I don't know to let you in on it. The only people who make money on penny stocks are those who CAREFULLY do their own research and the crooks who pump and dump. There are good planners out there for helping people but imho brokers who trade stocks don't fall into that group as a rule.

[deadguy]

as soon as I pass this fucking Series 7 and the 66 i'll be involved in the securities industry. Failed the 7 the first time by 3 points. Felt like someone kicked me in the ding ding.

[hardcore210]

Good luck, deadguy! I was in the industry as a financial advisor for a little over 2 years.

[a_free_man]

Exo has excellent advice there...

The only thing I would add is that you need to learn to invest counter-cyclicly (sp?). With this stock you're talking about, it's probably been pumped lately and now it's ready to pop. Don't look at something and go "Jeez, it's gone up X amount lately, it must be good."

Invest in solid, mid-cap companies (especially when their stock is actually going down a little), not in what's "hot". It's not as exciting, but will yield much better returns in the long run.

For whatever reason, people just seem to want to ignore the reality that growing wealth is actually kind of a boring, methodical process. The average investor looks for what's "shooting up" in the market and the last one's on the bandwagon are always left holding the perverbial bag.

My advice... don't be average.


-FreeMan

[nick e. guns]

Bump what exo said. I trade futures and stocks full-time and have never gone near any penny stocks and I guarantee you won't hear of any other professional traders that deal with them. As was stated before, paper trade for a while, read books and articles, and follow the market religiously until you feel ready. I started six years ago and only started to make really good money in 2003. It takes a while so be patient, learn from your mistakes and don't worry, the market and its opprtunities will be around for a long time to come, you won't miss anything by practicing patience.

[Bob Smith]

Exo had some great advice. My recommendation is to do more research on the entire topic of investing and see what works best. My recommendations would be The Intelligent Investor (By Ben Graham), Security Analysis - 1940 Edition (Ben Graham), The Warren Buffet Way (Robert Hagstrom), and there are are few more good ones that will show you the light. And show you why penny stocks suck ass.

[maxpower]

I started working for a company about 4 months ago that strictly day trades. In theroy you would think trading would be easy, but its not. It drains you mentally, especailly on days when you lose money, you fell like the biggest loser. It takes time to get the hang of things, and just when you think youve got it, the rules change.
Depending on what style you want to do whether it be short term or long term. If decide with short term or day trading youll have to have alot of start up capital to make any money ($10000-20000 to start) sec fees, and commison rates will eat up profits fast. If you decide long term investing, research it carefully (remeber ENRON).
Like many people say on here to first time users of AAS research, research, research, and then more research. I would recommend following the same advice when trading stocks (especailly when using your own money)

[Mark Kerr]

About not using a broker, I guess I am more traditional, but I feel that not using a broker is suicide. Remember, brokerage firms literally do research 24 hours a day, 7 days a week, 365 days per year. Unless you have that kind of time, I would recommend putting your money into the hands of a broker you can trust. I agree some brokers are scammers, but some a good, honest people.

The market is so complex, that not using a broker is the equivalent of not hiring an attorney. Sure you can research your ass off, but if you try to represent yourself, you have a fool for a client.

I agree that wealth is gained slowly and methodically. If you read the Warren Buffet Way, you will learn that he invests very conservatively for very long periods of time. He generally avoids tech stocks and instead prefers a good ole' fashioned solid balance sheet.

Also, I believe there is a place for risk in any portfolio, but only put in money that you would willingly flush down the toilet. If can lose 5K and still make more than ends meet, why not go high risk?

As for me, I prefer medium and small cap mutual funds for moderate risk, bonds for low risk, and high-tech stocks for high risk.

When I am out of law school, I am going to invest in more real estate, but I am still learning about that stuff right now. Tax Lien certificates seem like an exciting way to invest.

Just my 2 cents.

P.S. About not having a broker, Buffet and Lynch are brokers/managers, and some would suck their dicks just for a tip. So it isnt about having no broker, it is about having a good broker.

[Carlito]

I thank you all for being very helpful and taking the time to answer this thread, it feels really good to have my Meso bros's support and advice when really needed

Yeah, I just started learning anyways so I will keep paper trading for one more year until I completely understand it. Thanks for saving me $$$!!! No sense in rushing.

Carlito

[Bob Smith]

If youve got less than probably $10-20k and dont have a lot of experience investing, then IMO, about the only place to start is with a good index fund like Vanguard 500. Most people are speculators and not investors (read The Intelligent Investor or Security Analysis for a definition). Also bear in mind that only about 15% of professional money managers beat the market in any given year, and less than 5% beat it over 10 years or more.

The books I mentioned are great places to start (and possibly the only books you would ever need on investing). Peter Lynch also has some books that would be worthwhile. He is the most successful fund manager in history and follows similar guidelines as Buffett (who got his "education" from Ben Graham).

[Frankenstud]

I like a few stocks right now like Krispy Kreme (KKD). It has gotten hammered in the last few months and Im waiting to pick some shares up @12$$ or 13$$
Look at the charts for them.