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About Stocks/Investing

Discussion in 'Investments' started by Enronitis, Mar 1, 2015.

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  1. Enronitis

    Enronitis Member

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    Successful day-trader, am active in multiple types of investing.
    Ask me anything.
     
  2. K

    K Member

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    Whats your opinion on Timothy Sykes?
     
  3. Enronitis

    Enronitis Member

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    He's a doohick moron.
    I respect the fact he made some money off of pennies, but anything he "teaches" or claims to 'teach' is publicly available in the first place. He makes all of his money these days off his courses and really isn't insightful or in anyway impressive in terms of being a trader.
    I wouldn't waste a dime on him, and always advise caution when listening to anything he spouts.
     
  4. K

    K Member

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    Doesn't he actively trade tho and show results?
     
  5. Enronitis

    Enronitis Member

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    "Results"
    He rarely makes what he claims he does as again he generates majority of his income through his courses now.
    You're free of course to give it a try, but everything I've heard/seen of him has lead me to distrust anything/everything to do with him.
    Besides, if you want to trade pennies you can just learn some basic technical analysis and throw on a screener to detect for unusual volume and trade off that.
     
    K likes this.
  6. Entrepreneur

    Entrepreneur Member

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    How much do you need to start making a decent income from trading?
     
  7. Enronitis

    Enronitis Member

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    You need $25,000 to legally day-trade, but in order to make decent income you need at the very minimum $1,000 I personally always say.
    But this does need a certain amount of skill and patience.
     
  8. K

    K Member

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    What can you expect to make a day as a day trader? Highs and lows?
     
  9. Enronitis

    Enronitis Member

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    Depends on how long you put in, and the general plays for the day.
    On the low end I make ~$1,000.
    On the high end I've made ~$13,000+
    It's frankly not very consistent as of course no one can truly predict a stocks movement.
     
  10. Purple

    Purple Member

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    Whats the most you've made in a day?
     
  11. Enronitis

    Enronitis Member

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    About $26,000 in a single day.
    But I had over $130,000 invested to earn that.
     
  12. iamognara

    iamognara Member

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    What steps would you recommend as in how to start? Is it better to find someone already thats in the industry to teach you? Books or courses? Thanks
     
  13. Enronitis

    Enronitis Member

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    I personally believe the best way to learn the ropes is by getting right on them.
    Jump right into investopedia and whatever books/courses you could find. It takes time, a long time to become a real serious successful trader, but it's well worth it in the end.
    Play around with stock simulators as much as possible and develop a feel for how the market works, reacts to news, and maybe even develop a trading style/strategy while you're at it. (Or pick specific sectors you like, I'm a big Oil/Energy guy personally.)

    From my experience, no one can really TEACH you all too much without smushing bias and opinionated nonsense in your face. It really is just best to learn on your own and ask questions on anything that's confusing. (I'm more than happy to answer questions.)

    I'd also suggest as a general investor to read:
    The Intelligent Investor by Benjamin Graham
    A Random Walk Down Wall Street by Burton G. Malkiel (*)
    The Black Swan by Nicholas Nassim Taleb (*)
    If It's Raining in Brazil, Buy Starbucks by Peter Navarro
    Always a Winner by Peter Navarro (*)
     
  14. magol

    magol Member

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    What could you invest with 1k$
     
  15. Enronitis

    Enronitis Member

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    I need more information as to what your goals with that $1k are.
    Are you looking for passive income? Active?
    Are you trying to make $100+ a month off it, do you not care?
    How old are you?
    Where are you located?
     
  16. magol

    magol Member

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    Active
    As much as possible $
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    Germany for now
     
  17. Enronitis

    Enronitis Member

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    Stocks or Forex, or Stock Options, matter of personal preference.
    $1,000 is a tad limiting in the stock market, but is manageable with careful trades, realistically options would be more profitable if you take the time to learn what you're doing.
    Forex is also good, $1,000 is plenty due to the high leverage, but again takes time to learn.
    You'll have to find an international broker to suit you.
     
    magol likes this.
  18. magol

    magol Member

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    thanks for the advice
     
  19. Helper

    Helper Member

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    Whats the best online site, program or resource to help get started?
     
  20. Enronitis

    Enronitis Member

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    Investopedia is by far the best resource to use.
    Stockcharts.com also has a fantastic charting school which is exceedingly helpful if you are interested in technical analysis.
     

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