Replies to post #630134 on BB's Stock Haven

[eaglesurvivor]

demarco05: the boards are helpful for more experienced traders and especially those individuals that truly understand human psychology. Otherwise, one will find out that he/she is the patsy. Invest some of that money in some good trading books first. With only 1K, I hope that you're signed up with Scottrade.

[eaglesurvivor]

demarco05: as a followup, maybe you will find some pointers here: http://www.investorshub.com/boards/board.asp?board_id=5850 Feel free to ask away.

[shakerzzz]

dont buy bullster.com alertzzzzzzzzzzz weeeeeeeeeeeeeeee

[soupoftheday]

I wouldn't start trading in the summer if I were you. Study all you can this summer and wait until the fall.

[i_like_bb_stock]

these mkt conditions are definitely not good for a newbie, not even good for folks trading for years, I'd wait for the dust to clear, hopefully things improve soon. WOuldnt necessarily count out the entire summer.

[LCLiving]

Sorry but I thought of Chevy Chase in Vegas vacation when he kept going back to the tables. The dealer finally told him "Why don't you just hand me the money, I'll kick you in the balls and save us some time." This market has been brutal. There are people here making money but there is more red than green from what I have seen. Read, read, and read some more. Do your DD and pray alot. GLTY

[memesphere]

i just started also, if i were you i would buy into at least 10 different stocks, pick .0000 or .000 and a few .00 stocks unless you have a sure winner. its more fun to be spread out. a couple of your picks could be lotto tickets if your lucky. this is a good board i have not lost money yet and my trades are paid for. if you have a hunch on a stock, go for it. i never sell back more than half my shares unless its a for sure dive. read all the boards about a certain stock and discern for yourself. always buy on the low end of the spread no matter what the hype is. good luck!

[4Godnwv]

demarco05 - The pink/bb market is a tough egg to begin with - might wanna start with something less volatile - QQQQ's for example are not gonna make you fortune, but not gonna take 25%-50% of your investment in an afternoon either. (we all hope, lol)

Also, you need to consider the 'style' of trading you wanna do -

day-trade vs swing-trade for example -

I see that others have already given you some good advice -

My 2 cents is that you:

#1 Put your money in a 90 day CD (so you don't get tempted)

#2 Spend some time on these boards looking for a mentor or two, [lots of sharks in these waters looking for little fish to gobble up] - Also some really great people on i-hub that will be more than happy to help you.

#3 Papertrade for at least 90 days - (6 months would be even better) - I know that sounds like a long time, but it doesn't take very long to lose 50% or more of your investment.

GT's
4God

[memesphere]

I just started also, if i were you i would buy into at least 10 different stocks, pick .0000 or .000 and a few .00 stocks unless you have a sure winner. its more fun to be spread out. a couple of your picks could be lotto tickets if your lucky. this is a good board i have not lost money yet and my trades are paid for. if you have a hunch on a stock, go for it. i never sell back more than half my shares unless its a for sure dive. read all the boards about a certain stock and discern for yourself. Always buy on the low end of the spread, no matter what the hype is. Good Luck!

[Lieutenant]

The best advice I believe anyone could give you would be to just sit and watch the market for the first six months, read this board, use common sense, use monopoly play money, use a level II quote system, learn and listen to whom you can trust and who you can't here and elsewhere, and don't play with the reant money.

[okeah]

demarco05, here is my 2cents, forget about it! I've been trying to trade since 1999, lost at least $200k and had plenty of help by the best traders around. It's pathetic for you to start with $1000 and hope you're gonna make money. Before it's too late, don't do it, take it or leave it, but 99% chance that you will loose, but then again, loosing $1000 bucks is not a big deal, the big deal is when you loose them and get hooked and start using borrowed money to recover and keep loosing more, then you will remember my advice to you. Quit before you start. Good luck to you.

[pinkstocktrader]

don't do it I started last year with 35 grands and I am left with very little.I was doing great for the first 2 months when I was investing in DOW and NASD stocks but then one bad evening I came across penny stocks and read about how they can make you rich overnight and it went downhill from there.
So if you want my advice don't invest in penny stocks.

[lifegear]

Maybe you should stick with low floater profitable stocks near 52 week lows...that's what I look for....

low floater shells are also hot these days....(example: my best bet for now is JPEI .0025 14M O/S 95-98% owned by $1.2B questorfund.com..check level II--THIS IS NOT A RECOMMENDATION TO BUY JPEI)

"What is Wall Street's best kept secret? ... Shell Stocks.

Why invest in Shell Stocks? The potential return of a Shell Stock can be enormous! Imagine buying a tiny $.0312 Shell Stock that traded as high $50 six weeks later! A $1000 investment would have been worth $1,600,000 at its high! For more information, see The anatomy of a Shell Stock – SXML.

Or how about a Shell Stock that went from $.10 to $11.20 in two days. For more information, see Elvis Presley, American Idol and SPEA.

What is a Shell Stock? A Shell Stock is synonymous with an IPO. Most investors are familiar with the success of today's hot IPOs (Initial Public Offerings). But it is extremely rare for the average investor to purchase shares of an IPO at the offering price. ENTER SHELL STOCKS. Shell Stocks are an alternative way for a company to go public. With a technique called a "reverse merger," a Shell Stock becomes an instant IPO. The best news about Shell Stocks is that the average investor can purchase shares before the company goes public . . . sometimes at a fraction of what the post-merged company shares begin trading at!"

[ThanksLouie]

Papertrade the market before you jump in. It will save you a lot of heartache. eom

[Investolator]

I know many have given you advice so I will give you my 2 cents also. What every one has said is good advice. One thing I don't think has been mentioned is never fall in love with a stock when you do duy into one. If you do enter the market it is best to spread it around instead of putting everything into one or two baskets. Another thing to remember is to be patience, do not expect to get rich overnight. Remember the expression of buy low and sell high, but you will need to learn what is low and what is high. One stock trading at .005 might be high while another trading .05 is low. Best way to know which is which is by looking at charts (I use BigCharts.com and look at the 3yr and 5 yr range). Set up a plan of action for yourself, write it down and keep it with you always. Everytime I move away from what I have set out to do I have lost each time. When I follow my own plan I come out ahead and end up making a profit.

One thing else to remember, the market is made up of people. The emotions of the people move the price of a stock up or down. I myself like to buy a stock when no one wants it and then sell it to them when they are jump all over themselves to get in. Just my 2 cents.

Best of luck to you in what ever you do.

Seán

[hopscotch]

papertrade for a while, don't start in the middle of this crappy market, associate yourself with the filings, realize there is emotion involved when you use real money, don't hold pink sheets stocks, don't believe CEO's, protect your capital, buy the low it will dip, don't chase, always take profits

[Art2Gecko]

Papertrade for 3 months. Learn to read charts and TA(technical analysis)http://stockcharts.com/education/

Learn about the different types of filings http://sec.gov/info/edgar/forms/edgform.pdf

Learn who are the good posters...

Don't chase.

Take profits relentlessly..

and most importantly, print out the following post, and hang it above your monitor...
http://www.investorshub.com/boards/read_msg.asp?message_id=11353668

Posted by: Wayne R
In reply to: None Date:5/30/2006 5:36:03 PM
Post #of 2555

6 years later this is still true;

To: Wayne Rumball who wrote (0) 3/25/2000 10:29:00 PM
From: Wayne Rumball Read Replies (4) of 268

When I created this thread perhaps I mistakenly assumed that everyone that might be interested in it knew my market philosphy already.

It's quite simple.

All stocks are shit

All stocks are shit

All stocks are shit

The sooner you realise this the sooner you will be able to trade properly. Got a losing position? That stock was a piece of shit. Dump it.

Got a winning position? Amazing such a piece of shit could run, sell it.

The market is all about buying and selling. If you aren't selling you aren't making money.

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Disclaimer; Even a blind nut can find a hole to put his squirrel in

Who knows, it might be something, it might be nothing

[Ruellit]

When I see posts like this one you just put on here I have to shutter, but then I remember when I started and what I went through. I started with $2500 and turned it into $110,000.00 over a period of about 20 months. Then everything started going wrong, money, health, everything. I started over last year and this is a very tough market and I can't suggest that you start trading until you educate yourself about this. I've read all the replys you've gotten, and of them 4godnow seems to be right on target for your next step. As he said, there are sharks in this water and you need to learn to identify them on your own.

[themuzicmen]

Invest in stock,boy,sounds so damn easy,,they go up, they go down,,but when they go up,,you sell and bingo! CASH!, Wrong!!,there are so many negatives to contend with,,besides the market just sucking in general now..

"MM"'s will screw you,
people on "boards" will screw you,
"CEO"'s will screw you,
"scam" stocks left and right will screw you,
scam 'PR"'s will screw you,
Good "news" comes out(YEAH) but stock plummets will screw you, morning head fakes will screw you,
afternoon head fakes will screw you,
pre-market will screw you
bad news will screw you,
ecomony will screw you,
world events will screw you,
some useless/worthless event will screw you,
filings will screw you,
watching other stocks run will screw you,
emotion will definately screw you,
a stock you just sold for loss is now up will screw you
stock you sold too early will screw you
smiling to early,before u sell 4 profit will screw you
playing catch up with too many stocks at once will screw you
holding too long will screw you
buying what u think is bottom will screw you
chasing will screw you
not knowing how to read charts will screw you
thinking u got a winner due to a chart will screw you
buying right at open will screw you
not selling at open will screw you

never love any stupid,crappy stock


believe when i tell you this is only the beginning, i could go on and on and on,,

MISTAKES will be your friend in the end, you'll will learn from them and "100"% guaranteed you'll make many,many mistakes..
expect to lose the 1g(not a big deal at all) but youll learn to take profits when they are there..just my opinon

[downtherathole]

please read okeah's message to you and take heed. this is essentiaslly a gambling den---there is very little investing done here despite what you read. you can lose an awful lot of money without proper discipline.

[downtherathole]

wow---hopscotch is right on. good guidance.

[themuzicmen]

a few more grabbing your shoes advice

dilution will screw you
buying at ask will screw you
no stop loss will screw you
loading upon sure winner will screw you
not having level ii will screw you
making a winning trade and buying 5 minutes later will screw u
non research will screw you
no news will screw you
too much time spent in front of pc, reading charts/boards/sites will screw you
guru stock sites,spam alerts will screw you
not having a cut your loss's attitude will screw you

for the most part, mornings are for selling, afternoons are for buying

[been there]

demarco05.. wish you well. With a thousand $s to begin, in your brokerage account, you will have what is called a "cash" account. Cannot be a "day trader" (requires 25,000 in account).

So, for example, if you buy stock x on day 1 for a thousand (including commission) and you sell same on day two, You cannot immediately buy another stock. You must wait for that sale to clear (think it's three days, not sure, may be 2 or 4).

Gives you an idea of tradings, technical/regulatory, aspects even if you should make "good" trades overall.

[downtherathole]

been there also makes a great point---you really do need to have enough dough to open a margin account---i think it's still two dimes---it'll let you make a couple of round trips in a week---and you'll be able to sell the same day you buy without getting your account restricted. do you really need this much grief? take the grand to your local indian casino---learn to play perfect blackjack---you'll have more fun---have a better chance of winning and if you get real lucky maybe meet a nice girl who'll take you home and help you to relieve some of your stress. this is a tough place to make easy money.

[lollybella]

read ARTGECKO's posts! (he does amazing DD!)
Stay away from SHAKERZZZ pumps!
NEVER FALL IN LOVE WITH ANY STOCK!

[CSykes]

The market sucks right now, stay away from the sub pennies. Majority of the stocks pumped on here are pure garbage. My reccomendation is forget the OTCBB and pinksheet stocks alltogther. Go trade the NASDAQ small caps until you learn the market. Then come back here after you've made some money and play these crap stocks for fun. If your new to trading these sub-pennies will look like promising investments until you've lost all your money.

Char

[SamIam]

Demarc, you've had an outstanding number of responses, most of which tell you "don't do it." In spite of all the excellent I bet you'll jump right in as soon as you read the board, see a sub that looks like it's gonna run, you'll see the lights start flashing, you're heart starts pounding and you pull the trigger. Next thing you know, you're down 25%. At least just pick a few today and paper trade them and see how you've done at EOD. It's an absolutelly horrible market today and only the middle men and daytraders, specifically, those traders who've got 25k in their account and can flip to their hearts content, win here.
If I may suggest, watch IPRE today, DO NOT BUY it, just watch how it opens and how it's going to be at around 10 am, and the close. I wish you luck, but more, have patience cause you can lose it all very fast.
Sam

[Wayne R]

As Art said, papertrade, and remember my philosophy.

Now, when you papertrade, you have to do it right. When you place an imaginary order you wait 10 minutes, and that's where you get filled 1/2 of what you wanted to buy, unless the stock is going down, then you get everything at the price you wanted 10 minutes later and the stock is down 20pct from where you bought.

$1000, get a cheap broker like lowtrades, $5/trade, and spread it over 10 stocks.

Never be in a hurry to buy anything and never chase.

Never fall in love with a stock, it'll kill you

There are all kinds of people on these boards, but they all have one interest, making money. They might sound like your best friend, but if it comes down to you or them, they will always take their best interests at heart and leave you swinging in the wind.

Now having said that, and you have digested it, there are many people on these boards that actually have a conscience and wouldn't stear you wrong, it's up to you to decide who those people are. Even the best of them make mistakes, no one is perfect.

My lowtrades account I started with $1500 3 years ago to try them out. I've taken out a pile of $ since then and currently own a ton of stocks, I haven't bothered counting, but it's a lot. Posted somewhere on my thread yesterday or the day before the whole list.

I hope this helps, and remember, ALL STOCKS ARE SHIT

[Wayne R]

I forgot to mention something

If you are sucessful and your $1000 becomes $10,000, great, keep going. If the 10,000 becomes more, take some out, pay off the mortgage or the car or credit cards or whatever.

Turning $1000 into $10,000 seems silly but possible, but turning 10,000 into a million is ridiculous. Don't get carried away, you'll end up with nothing

[sublime]

paper trade until u have turned your $1k into $10k....it won't cost you a thing but it will save you at the least $1k and probably much more.

PAPER TRADE!!!!

best of luck on your new venture.....hold on tight for the roller coaster ride from hell.

FEAR and GREED are your enemy here.

you will need this board...we all do. http://www.investorshub.com/boards/board.asp?board_id=2321

sub

[SamIam]

Curious how/what you did demarco05! No follow-up posts, where'd ya go?