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The Business and Financial ForumTHIS SPACE OPEN FOR ADVERTISEMENT. YOU SHOULD BE ADVERTISING HERE! Revscene Wall Street.
Consolidating debt? Good business tips? Buying stock? How's our economy doing? Discuss and share advice and tools on everyday banking, investing, wealth management and insurance.
Everyone's opinions will be different for what to and what not to invest in. That's the beauty of economics. Really, the best thing to do is just research and educate yourself. Try a simulator and trade as if it were your own money. Learn by doing.
so i dont know stock one bit but willing to learn.
what do you guys suggest i do first ? should i be touching penny stock at all ?
i dont have much, only budget myself $1k to 1.5k max to play with.. is this a good starting budget ?
don't get greedy is my advice to you. don't buy just because other people are bullish on it. Do your own due diligence and get caught up in the financial news and see how different industries are being effected by the economy. Different stocks have different valuation methods so I would start by learning those. Personally I would start with blue chip stocks as they are less prone to volatile swings in pricing. As for penny stocks, they are more volatile and more speculative, and some are also very high controlled by majority shareholders or market makers. I would read up on technical analysis as penny stocks don't always follow fundamental valuations. Learn to use charts and statistical markers. Try freestockcharts.com. Good luck.
you get the knowledge of what you want and learn the basics through this site, from there on, read some books you on more advanced knowledge etc, and move on from there. Don't jump the gun
Penny is definitely not a good place to start. Especially with your budget since its a very volatile.
so i dont know stock one bit but willing to learn.
what do you guys suggest i do first ? should i be touching penny stock at all ?
i dont have much, only budget myself $1k to 1.5k max to play with.. is this a good starting budget ?
I would say your budget it a bit low. A typical trade's commission is like $10 and that would be 1% of your capital if it is lets say $1000. Just know that in trading bulls make money, bears make money, hogs gets slaughtered. If you don't know who the hogs are then it's probably you. Wall Street needs a new batch of idiots every day so they can make their ends meet. I don't want to scare you but the whole system is designed for you to fail. Only the selective few makes it big. That's why 99.5% of population out there work "real jobs" and do not trade because it is simply too damn hard for them.
I would say your budget it a bit low. A typical trade's commission is like $10 and that would be 1% of your capital if it is lets say $1000. Just know that in trading bulls make money, bears make money, hogs gets slaughtered. If you don't know who the hogs are then it's probably you. Wall Street needs a new batch of idiots every day so they can make their ends meet. I don't want to scare you but the whole system is designed for you to fail. Only the selective few makes it big. That's why 99.5% of population out there work "real jobs" and do not trade because it is simply too damn hard for them.
Everyone has to start somewhere. He said he's willing to learn.
So really, I'd say keep reading, and trade with a simulator. At the start, I suggest you treat it as your own money (I think most simulators give you ~$100k in "pretend" money.) You'll learn how hard it is to work with only $1000-$1500.
Then once you start understanding the concepts more, start playing with more "pretend" money as if you just took out a loan at the bank.
You'll learn more doing this than anything else. This will force you to read, research, and understand more.
__________________ Studies show 100% of people die.. Might as well have some fun.
Everyone has to start somewhere. He said he's willing to learn.
So really, I'd say keep reading, and trade with a simulator. At the start, I suggest you treat it as your own money (I think most simulators give you ~$100k in "pretend" money.) You'll learn how hard it is to work with only $1000-$1500.
Then once you start understanding the concepts more, start playing with more "pretend" money as if you just took out a loan at the bank.
You'll learn more doing this than anything else. This will force you to read, research, and understand more.
I wasn't trying to discourage him or anything. But I spend $4000 building a top of the line system this year with a few LCD monitors throw in there. When you have such limited resource it hard to see somebody get very successful. The sad truth is you need money to make money.
I wasn't trying to discourage him or anything. But I spend $4000 building a top of the line system this year with a few LCD monitors throw in there. When you have such limited resource it hard to see somebody get very successful. The sad truth is you need money to make money.
WTF does someone need a 4000 top of the line system for?
Sino-Forest Corp. said Monday that the independent committee looking into allegations of questionable accounting practices at the company will likely take longer than initially expected to complete the report due to data-collection challenges.
Sino-Forest saw its stock take a beating in early June, when allegations of questionable accounting by U.S.-based short seller Muddy Waters LLC surfaced. Sino-Forest denied the allegations, including that it fraudulently exaggerated its tree-plantation assets.
Sino-Forest set up an independent committee to look into the Muddy Waters claims. Initially, the committee said the review would take at least two to three months, but the company said in its second-quarter earnings release it now expects the process to be completed before the end of December.
Some investors appear to be betting the review could be favorable for Sino-Forest.
Sino-Forest's stock had traded at around 18 Canadian dollars (US$18.34) prior to Muddy Waters releasing its report. After the report, it dropped as low as C$2, but is currently trading around C$6.78. Singapore-based Richard Chandler Corp. has been one of the biggest buyers of Sino-Forest stock, with the private investment group now owning an 18% stake.
Sino-Forest said second-quarter net income was $447 million, or $1.64 a share. Revenue rose 6.3% to more than $317 million.
The beleaguered forestry company, which operates in China but is listed in Canada, posted a big jump in second-quarter net earnings due to a hefty noncash accounting gain. Excluding changes in the fair value of financial instruments, it swung to a loss of $9.8 million in the quarter on such factors as higher costs and a drop in gross profit margin in its plantation fiber operations.
Sino-Forest Chief Executive Allen Chan said in a statement that management is focused on maintaining operations and supporting the investigation.
--Carolyn King in Toronto contributed to this article.
I wasn't trying to discourage him or anything. But I spend $4000 building a top of the line system this year with a few LCD monitors throw in there. When you have such limited resource it hard to see somebody get very successful. The sad truth is you need money to make money.
Do you mind if I ask what do you have in your system? softwares?
Carl is right though, 1K-1.5K isn't really enough to start. You might end up losing some and losing your confidence in investing all together which is worse.
Greenstoner - I say start of with understanding the basics of the financial markets. Like you need to know pretty much what a stock is and all.
Then maybe go into fundamentals. IMO this is what investing is all about. It is to build wealth. We are all young here so sure RISK it and GAMBLE our money to build a nest as big and as fast as we can. But when we all have families or being to get older...our income from our careers will limit our chances of risking our monies. (unless you're powered by daddy money). So that's when you need to rely on fundamentals and understand a company well enough that's it's a worthy company for you to put your money and you know you will get the dividends you deserve.
Once you have the grasp of the basics/fundamentals...you can expand to other tools of the financial markets...bonds/options/technical analysis / day trading / penny stocks / futures...
But I would strongly recommend to learn your fundamentals. (like the black kid in the video. LOL).
so i dont know stock one bit but willing to learn.
what do you guys suggest i do first ? should i be touching penny stock at all ?
i dont have much, only budget myself $1k to 1.5k max to play with.. is this a good starting budget ?
No its not a good starting budget, but its good enough to get a feel. I signed up qtrade a year or two back with only 1k and I earned a a bit of money and cashed out. Definitely not millionaire but I gained experience. You don't necessarily have to trade stocks, look up options as well. Couple of my friends have had some luck with gold / silver options using only $700-$900 and gaining near doubles in short term. GL my advice is read read read. Don't let your emotions take over control when you first buy but... easy to say hard to do . Live & Learn.
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