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interested in stock market(Potentially), tips?

Discussion in 'Random Discussion' started by semidevil, Jan 2, 2006.

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  1. semidevil

    semidevil Thread Starter

    Joined:
    Jun 23, 2002
    Messages:
    190
    So I was talking to my wife and telling her that I need a hobby. Currently, I am still thinking on one and I want to pick something that is productive, and potentially rewarding.

    I was thinking about the stock market. First of all, I"m not in it to make thousands and thousands of dollars, but if possible, a small gain would be really fun. maybe if a small investment yields a small gain, that would be great.

    With my 9 to 5 jobs and days off on the weekends, a hobby like that sounds perfect. What do you guys think? Is this something that I can jump into and not end up losing my pants over?

    Where do I start? I want to start reading and learning about it.
     
  2. BanditFlyer

    BanditFlyer

    Joined:
    Oct 25, 2005
    Messages:
    12,552
    I am by no means an expert on the topic but I was interested in the same hobby. I was planning on starting by going to an old page I used to look at and seeing if they had a forum set up. The site is fool.com and you just reminded me to go visit it again. I haven't visited that site since it was called "motley fool". That must've been in the late nineties.

    I guess having access to a forum really isn't all that important, but I have found forums to be extremely usefull, and now whenever I research something new, the order of operations is always:
    0. about.com it and wiki it to get some general, encyclopedia-style info on the topic, along with the ever-important "see-also"s
    1. google it for answers, info, FAQs on the topic
    2. google it for forums and post on the forums I am a member of asking if anyonw knows anything, or has experience in the topic.

    I'm becoming a forum addict.
     
  3. poochee

    poochee

    Joined:
    Aug 21, 2004
    Messages:
    124,720
    I dabbled a bit about ten years ago. The first thing I did was to read about how the market operates. Then I selected Vanguard to work with. I sent for information on the performance of the ones I was interested in. Then I selected a portfolio. I moved them around as I saw fit. I made $5,000 in a year. Then I quit, because it was taking too much of my time. I, quite frankly, got bored. I suggest, only use money you can afford to lose.
     
  4. OldRS

    OldRS

    Joined:
    Nov 14, 2005
    Messages:
    774
    I have recently started to learn more about the stock market. I am using http://www.stocksquest.com/ which allows me to learn with play money. It has helped, although I would like to learn more about day trading and this Stock Market game does not allow you to day trade. Another resource is http://www.nasdaq.com if you look at the stock Consultant (SC under flashquotes) you can get a lot of info. NASDAQ limits you to researching 8 stocks in a 24 hour period, then they want you to pay. I have not joined but have found it rather useful and educational.
    It has been a lot of fun learning along with my son, who has a head start on me and is actually teaching me a lot. It has been a lot of fun.
    I am only up about $1K over about 3 weeks, but my current choices have some potential (at least from my limited experienced point of view). We will see what happens. I am also looking at Forbes to see if I can get any useful info from there, but only just started looking at it today.

    Good Luck.
     
  5. Steppinstone

    Steppinstone

    Joined:
    Aug 18, 2002
    Messages:
    2,798
    I played around on stock quest last year but didn't this year because that site is on the slow moving side! It's fun you can actually set up a contest with other people and make a game of it.

    Semi, If you want to learn but not lose any real money practice with a stock game and get a feel for it, Heck you could even do a poll and see if anyone here is interested in getting a group game together. :)
     
  6. AKA Arizona

    AKA Arizona

    Joined:
    Jul 22, 2003
    Messages:
    2,905
    Someone had a thread last year with stock pix I wonder how we did?
     
  7. linskyjack

    linskyjack

    Joined:
    Aug 28, 2004
    Messages:
    22,813
    Wall Street is the world's largest casino, particularly for day traders and other gamblers. My recommendation would be to research and buy some solid companies with great balance sheets, good brand names, good market share etc and hold them for years! Thats the only way non-insiders can make money consistently. I own five stocks----GE, IBM, Google, Merck and Apple. I have held them all for the last four years and have done very well.
     
  8. Infidel_Kastro

    Infidel_Kastro

    Joined:
    Nov 21, 2003
    Messages:
    5,402
    Buy low/Sell high.
    Diversify.
    (Expensive hobby...)
     
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