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  1. Default newbie needing expert help

    I am a 19 year old student at the University of Miami in Florida and I wanted to get in on the stock market, preferably with penny stocks and that kind of thing. This summer I am going to have a job so I thought that I could take a hand at the stock market so I atleast could get experience for the future. I was looking at this pump and dump thing and I thought that this scam doesnt have to be too bad if you just rode with it and sold the stocks a bit earlier than what they told everyone to sell them at. Well anyway I was wondering if you were ever sent that program and if you have any tips for a newbie...i literally have no clue what I am doing.

    a few questions would be how do i buy stocks online
    is there a program that i could use to show the real time stock quotes and everything with all my stocks lined up that I bought?

    basically I just want to know how to get started because I want to make this a little project for myself to learn about the buisness

    btw I am a premed student not a buisness student lol so its kind of out of my element but i thought I would diversify myself

  2. Default

    You asked for advice so here is mine, for what it's worth.
    Forget Penny Stocks, go with $2-10 stocks that trade with some volume
    As to the "pump and dump" strategy you posit, if it's a true pump and dump it's illegal, if it's the "promotion" nonsense it's immoral in my opinion. You can make money in this game without resorting to BS. None of the folks I want to emulate, involved themselves in scams, nor do any of the folks I wish to associate myself with.
    All the online brokers have real time quotes and portfolio management software, not necessarily free though.
    You want to be a doctor, pay attention to that, and let someone else manage your money. If you just have to, try a trading simulator, where you can trade without putting your money at risk until you are reasonably confident you can actually make money, then continue paper trading for another few months until you are actually ready.

    You might find your first investment to be the most well spent, if it's a book.
    Warren Buffett's "Make money through stock promotion" or Ken Heebner's "Pump and Dump Your way to Riches" would get you started except they don't exist.

  3. Default

    You replied with admirable restraint, Aiki.

    I didn't feel I had the serenity to that, so I passed on the reply.

    To the OP: Heed what Aiki is telling you and his advice may help finance your medical education. I wish you well in your medical career — cosmetic surgery, was it?

  4. Default

    You should read the boards for alot of helpful infos on how to get started and stuff. Going to do penny stocks first is risky and you saying you want to ride a pump and dump stocks is a bit scary and I can see you thinking you will win win all the time with your idea. If you don't mind wasting money can you send me some . Before you even begin you should ask yourself just how much is ok to lose. I know it sounds odd but if you think this is a win win win thing then you in for a shock if you get into a stock that makes you lose money.

    Investing in stocks is just great and has turned my life for the best but I am still new. I see too many people just flat out waste money thinking to hit it big. Read and you will be amazed at what you learn.



    List of things to do:

    1. Paper Trail first and don't do something you have no clue about. Don't be stupid like I was and waste money hoping to win big.

    2. Find a brooker
    If I was you I would look at these two
    Scottrade (is good because you only need 500 to start and no fees even if you lose all your money you can still keep the account)
    TDAMIERTRADE is also good

    3. Deposit how much money you are ok to lose.

    4. Buy a Honda

    5. Buy me a Acura

    6. Say sorry to F.I.U. for beating up there football team.

  5. Default

    Here is some real advice, learning by doing is the best way to learn but at your age and rookie status, I highly recommend that you paper trade until you fully understand what you are doing. If you dont have the time for that, join a service that picks stocks for you, if you dont have the time for that - open a high interest money market savings account and concentrate on your studies...

  6. Default

    In terms of age and risk I'm in the same boat as you daman, but the advice given in this thread so far is pretty crucial. (I'm seventeen, a high-school student, so I'm a baby by far on here.) If you really want to do this get a tutor or mentor, check your family's financial history or ask around about as much as you can (you never know what you can find out or learn), hit the libraries and read as much as you can (of course put this down low on the list of priorities, considering you're in college), and as has been said, learn by doing in some way, albeit it doesn't have any risk involved towards you.

    If I may add my own two cents, and this is just me, play conservative and play long for now or once you're ready to risk your money. Put Daytrading off for a while, a year sounds reasonable, and penny stocks....eww....leave it when you know you have money to waste. At our age we're not in any position to really risk much and honestly we shouldn't, just read and learn by mistakes.

    Oh and emotions....kick em' in the can, they do you no good with money.

 

 

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