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Trading stocks is a hobbie of mine, using play money of coarse... lol I have thought about doing it for real, just not ready to take that risk.
Posted in these groups: 
Jobs
Stock Market
Jobs Stock Market
Posted >1 y ago
Responses: 5
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As an out if work broker, I can tell you that all of the discount brokers (TD Ameritrade, E*Trade, Scottrade, etc) all have real-time trading platforms available to their clients. The main difference being the quality of the technology behind the platform and the level of knowledge of the customer service reps and quality of service provided. Another factor to consider is going to be the quality of the executions tht the broker provides. Are you orders sent to the market to be executed against the full liquidity of the market center when they are placed or are they held and bathe with other orders, which will definitely impact the quality of the execution.
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It's completely different when it's the money you've shed sweat, blood, and tears for, instead of "play money."
The biggest thing to remember is to not get emotional, to set your own strict guidelines, and have the guts to stand by them when things go south. I screwed myself recently on a trust that I used to play; the share price usually jumps a week before the dividend payout, but it suddenly dropped substantially a couple weeks early. I panicked and sold off; had I waited and stuck by my guidelines, I would have seen that it would have risen again and I would have a profit. Live and learn, I guess.
The biggest thing to remember is to not get emotional, to set your own strict guidelines, and have the guts to stand by them when things go south. I screwed myself recently on a trust that I used to play; the share price usually jumps a week before the dividend payout, but it suddenly dropped substantially a couple weeks early. I panicked and sold off; had I waited and stuck by my guidelines, I would have seen that it would have risen again and I would have a profit. Live and learn, I guess.
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SPC Michael Hunt
Have you ever heard of Investopedia? I's a tool I use to learn about trading stock.
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CPT Aaron Kletzing
Investopedia is pretty good from a learning point of view. Motley Fool is what I would follow more closely if you are using real money and trying to manage a real portfolio.
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Regarding lose out on money I'd say both of you can perform better by setting strict goals. Have an amount you intend to earn from an investments and pull out when you earn it and move on to the next investment. Regarding losses in the beginning set a reasonable amount you're willing to lose to chance making money and ignore the ups and downs unless you reach your set amount of loss
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SSG (Join to see)
No! No! No! For the love of god man, please stay away from penny stocks. There are so many better financial instruments out there such as options and dependable high dividend yielding stocks. To gamble your money in the OTC market is suicidal. You should seriously consider options trading as it's not as bad as most people would have you believe. You can make money when a stock goes up, down or sideways with less capital. Either way, you need to figure your strategy your way. I suggest you take the plunge once you are debt free and have a 6 month emergency fund setup. Once that is complete, begin dollar cost averaging into a diverse sector of high dependable yielders like seadrill (SDRL) current yield 11%, Petrologistics (PDH) current yield 14% and maybe AT&T (T) currently 5% (just some suggestions). Once you have setup a nice little foothold thru a basket of different sectors setup an options account thru any discount broker you feel comfortable with after conducting due diligence (trade monster is one of the better ones). From there, you can wait until you save another 10k while utilizing their paper trade feature and start trading thru calls and puts once you feel comfortable. This strategy enables you to hold good dependable companies with quarterly payouts (which you can compound over time) while also having a separate account set aside for speculation. The whole beauty of this is that you are not bogged down by one strategy. Thru options you will have the flexibility to make the most of your limited capital. Once you earn another 10,000 over time, take that off the table and reinvest that profit back into your dividend paying core portfolio and watch your payouts compound.
Another set of advice brother, unless you are dealing with a couple hundred thousand bucks you can afford to lose, stay the hell away from futures! They are too volatile. You want one trade to make or break you? It's nuts!
Hit me up if you want some more advice on this stuff. I took the plunge almost a year ago with every little bit I had and only learned through my mistakes! Man am I lucky I haven't been wiped out! LOL
Another set of advice brother, unless you are dealing with a couple hundred thousand bucks you can afford to lose, stay the hell away from futures! They are too volatile. You want one trade to make or break you? It's nuts!
Hit me up if you want some more advice on this stuff. I took the plunge almost a year ago with every little bit I had and only learned through my mistakes! Man am I lucky I haven't been wiped out! LOL
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