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  1. #1
    Alexascix Guest

    Default How to achieve my goal of $2000 a month income?

    I am just getting ready to start buying my first stocks. Right now my investment goal is to generate $2000 per month of (mostly) steady income. Let's assume I'm an idiot, how many dollars worth of stock will I need to
    have at what REALISTIC rate of return to achieve this goal? Also, open to any good advice.

  2. #2
    AlexeySi Guest

    Default

    If I assume you are an idiot, I would tell you to let someone else handle your money.

    If you are not an idiot, you shouldn't expect to make more than 10% to 20% a year trading, and that involves a lot of learning and work until you reach that level. If you love trading though it will be fun. Most new traders get wiped out, and a very few go on to great success where the sky is the limit. It's an adventure worth taking if you can afford to lose money until you learn how not to. Losing your capital will be your first lesson. If you choose to try again, you will learn how not to lose your capital. Then you may learn how to make money trading.

  3. #3
    AlfredCaw Guest

    Default

    Thanks for the info- I'm treading lightly at first- I worked at the Merc in Chicago for a year I've seen people lose a lot of money before!

  4. #4
    AlexVoronoa Guest

    Default

    1. It's not about how many dollars you have tied up in stocks. If I buy a 1000 shares of a $2 stock, I'm looking to make a minimum $100 profit when I sell those shares. If I buy a 1000 shares of a $5 stock, I'm still looking for a minimum $100 profit when I sell. The only difference is that the $5 stock ties up a whole lot more of my money while I'm holding it.

    2. Percentage-wise, if you can do 10%, then you're probably beating the majority of traders. I believe the market, as a whole, averages about 9%. But don't worry about what everybody else is doing. You set your own personal goal, then work to achieve that. If your goal is $2000 per month, then that averages out to $500 per week. You can do that with a starting account balance of $1000, but you must be very disciplined and unemotional. Of course, the bigger account balance you start with, the better the chances you'll achieve your goal.

  5. Default

    I'm not talking about day trading or anything- I'm more of a mind for dividends and growth to reach my goal of $2000 a month steady, sustainable income.

 

 

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