Internet Stock Trading

[Johnny Fist]

Well, I've saved up a few dollars and I'm thinking about turning it into a few more dollars. Now I have two options, either the stock market or Las Vegas. I'm choosing the stock market.

I've done some reading as to how trading stocks online goes and I think it might be a good idea for me. Does anyone here have any expereince with this sort of thing? If so, could you care to share your expereinces?

Also, I'm still in the researching stage, so if you have any links you think I should be reading I'm open to suggestions.

[Prushka]

Most information in the media concerning the markets, should be looked at as dis-information.
Do you own research on the stocks you like.
Learn to read charts/cycles short, intermediate, and long term

Robert Prectner wrote a book years back called, "Elliot wave"
based in part on Fibinacci
"Gann angles" is another

How are the various markets interrelated...for example how does the 10 yr. bond market effect stock indexes

And this is barely scatching the surface

And once you get a handle on how markets trade, wait for the market to come to you.

Sometimes you might be better off using probabilty at the dice table (it's gonna bleep craps) on the pass/don't pass line

Good luck...sometimes beginners have it ;)

[ukulele]

Stocks used to be a good investment when people had to use a broker to trade. At least they could get some informed advice. Now it is very volatile. The "new" investors spawned by the internet, demand immediate profits or short sell the stock. Many companies no longer look at long term profits that were earned by quality and reputation. Now it is only the quarterly profits that most companies look at and they all do that by selling cheap foreign goods. As a result just about every company that had a reputation for quality products is leveraged out and can go down in a single quarter along with their investors. All I can say is good luck.

[urdvurk]

Once you think you've figured it out well enough, make an imaginary portfolio and see how it performs. Pretend to buy and sell and keep track of costs and stuff. There must be plenty of sites (I use Yahoo! myself) that let you enter stock names, date of purchase and number of stocks owned which will then track your performance automatically. Very instructive, and free.

I would not necessarily trust brokers to give good advice. You need only look at all the stories of people who lost a bundle to see that brokers, while they do have more experience, know just as much as anybody else about what will happen.