Anyone Here Into Trading Stock?

[RedE46Bimmer]

I'm thinkin about getting into some light stock trading or daytrading and was wondering if anyone else did it and what websites you used and why. I have been doing some research on etrade and ameritrade and stuff to just to try and learn a little more before I make a decision to go with a certain website, but was wondering what the pros and cons are of each one, or if you could give me some pointers.

Any help would be awesome!

[wheelfetish]

I did the virtual stock market in high school. Japanese google FTW

[RedE46Bimmer]

yeah I know that some websites have like "practice" trading, but I don't know where lol.

[wheelfetish]

yeah I know that some websites have like "practice" trading, but I don't know where lol.

Shit I forgot the name of it lol google virtual stock market. Something like that.

EDIT: or virtual stock exchange

[RedE46Bimmer]

Thanks man. I'm gonna have to try that. I'm sure there is a lot more to the real thing than I think....but it seems relatively simple.

[Kielan]

Talk to Steve (Steve0827 on here), all he does is talk about stocks...

[chev_chelios]

it's going to be hard to make a living at it unless you're playing a hundred thousand plus at the least going for $0.05 gain on average a day on $5-$20 stocks (the more money you have to work with is perfect with this kind of ratio of gained value to actual value). doing it part time around your real job can be a bitch because you need to keep your eye on the ball while your money is in play at lal times so you don't screw yourself. i can't stress this next part enough: do research and watch how much the stock is being traded daily (quanity) as that will give you a clue that you are not being scammed. always stay away from penny stocks, never buy stock when it's in a downward trend, buy into what you actually use in life, and then the rest is up to you. the first few hours of the day are the best to buy and sell as well as the end of the day. just pick out a few hundred stocks and notice the patterns for a single day, a week, a month, 3 months, 6 months, and on. spme stocks go up at certain times of day, others go up & down every day, others go up once a year, some are seasonal, and on and on. it's finding the stocks that is the challenge, not the trading part.

and seriously: do research, do research, do research.

good luck.

[RedE46Bimmer]

My friend did a project in high schol with pretend stock and he jus invested all of his fake money in Apple right before the iphone came out and then when it came out he sold it all and got the highest grade in the class.

Is it possible just to do it ike that? Just wait till you know a company is coming out with a prodct, invest in it, then when it come out just sell it all? Or is this a bad preconceived notion?

EDIT oh and I'm not trying to make a living on it, just trying to make a few bucks on the side, selling myself on the street is getting old.

[Kielan]

You could also lose a ton of money doing that. I don't know stocks but I can tell you that, thats a bad idea. You would really be playing with your life for sure.

[aar0n.]

Like other people have said, do as much research as possible. Each broker probably has some sort of demo account with fake money that you can use as a practice account. I day trade currencies and practice is really the most important thing along with research and getting good at technical analysis as well.

That strategy you mentioned is dangerous and pretty much just gambling. It's not as cut and dry as that and there are many different variables that can have an effect on stock prices. Be careful and really just do the homework about it first before anything

[Rally]

Generally if you, a common everyday person, knows about a new product like the iphone that's "gonna hit it big", it's already too late to really jump in and buy the stock before it starts sky rocketing.

Like the others have said, there's a lot more to it than the ideology that a stock goes up when it makes a cool product. If you're still in school, check out some economics classes so you can get a good grasp on the market and its fluctuations. It takes a lot of experience and knowledge before you're making any kind of short term money on stocks.

[Effin' Euro]

it's all about currency trading.

[RedE46Bimmer]

Thanks for the better clarafication guys! I guess my notion was just a little........well dumb hahaha

[Atlantian]

My friend made a quick 500 bucks by shorting Toyota's stock when I told him about some funny stories about the electronic throttle problem before it got big all over Faux-news and CNN.

but then again, his portfolio is worth around 25k, so this was just pocket change.

[Uyles]

https://www.howthemarketworks.com

If you're going to have a lot of stocks, make sure to diversify what you're investing in. Don't just put all of it into technology, etc.