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Most of it is common sense, it really isn't that difficult to distinguish the difference.
Sure it is, just like buy low, sell high. Be greedy when others are fearful, and fearful when others are greedy. The list goes on and on.
It's easy to make those sort of motherhood statements when you have little to lose in being wrong.
You find me a newbie who's going to sit and watch a stock fall 30%, 40%, 50% all the time thinking "it doesn't matter that everything I read says this stock is going to zero, because I know better".
Once again, if someone says they have the will power and desire to succeed, I'm not going to turn this thread into a debate about whether they are telling the truth. A 15 year old could do it if he or she truly wanted. It's not rocket science and doesn't require reading 10 books or paying for expensive stock training classes.
Once again, if someone says they have the will power and desire to succeed, I'm not going to turn this thread into a debate about whether they are telling the truth. A 15 year old could do it if he or she truly wanted. It's not rocket science and doesn't require reading 10 books or paying for expensive stock training classes.
You're either playing with little money or no money if you believe that. And either way, you're playing with money.
It may not be rocket science but there's a reason that so many fail at it, beyond not having will power.
I use TD Ameritrade, have a very small portion of my $$ allocated to that trading venue. I hold one penny stock, paid .25 a share in late January and it is now up to .35 a share, I made a whopping .10 a share, the highest it's ever been is .53 a share. All stock investments are risky, penny stocks especially so. In the past I owned two other penny stocks, both were bombs.
The balance of my portfolio at Ameritrade are old line solid companies, they don't pay whopping dividends, but they don't flux much either.
Scott, Ameritrade, Etrade and others have a mini training section on their sites. I would also go to your local library and load up on books about investing, or, if you have the patience, read them on line.
Personally, I would not hop into the market until I had a better understanding of the risks and did all my research on the individual stocks I am interested in purchasing. Investing in the market is a risk, be prepared to accept that you could lose it all.
You're either playing with little money or no money if you believe that. And either way, you're playing with money.
It may not be rocket science but there's a reason that so many fail at it, beyond not having will power.
Anyway, carry on.
I started with around $2k about nine years ago and now I'm well in the $100k's. If you don't let your emotions make your decisions and learn from your mistakes, it's not rocket science and doesn't require endless books. I doubt the actual experience of many of these authors anyways. If they are so good, they wouldn't be writing 500 page books and selling them for a profit. For the basic investor, you don't need 500 pages of dribble to teach you how to be successful. Many times, it's the people who do very little to nothing with their stocks that end up the most successful. If you are getting into options or futures, then yeah there is a lot to learn. Your view of, "well if I find it to be rocket science then you must obviously just be playing with money" is rather silly. I don't consider nine years as playing with money or luck. I don't think people should expect to have the same returns as me, but once again, it's not rocket science to make some money in the stock market over the long term.
The most efficient and achievable way to get from $2k to $100k in 9 years is still to max your contributions to IRAs and 401ks. The base amount is just too small for compounding to be a significant factor in the growth. Once your capital gets up to at least $500k, compounding takes on a bigger role in wealth accumulation.
A 7% annual return on 500k is 35k. That's more than you can save in your IRA and 401k combined (which top out at 5.5k + 17.5k = 23k per year). A 7% return on 2k is a piddling $140. Even a 100% return is only 2K. You might as well save up and put 5.5k into your IRA.
The point is, save as much and as quickly as you can to the point that your capital reaches "escape velocity".....the compounding will take over from there.
Any idea what your CAGR is? I'm assuming you have made contributions over the initial $2k.
I have made some contributions over the years, but not a set amount. I've put about $10k into my account over the nine years. There have been numerous opportunities to make a lot of money and once I reached $30k, I started learning about options, which propelled me to the mid $60's. I then kept 90% in shares and 10% in options (roughly). In Dec 2012/Jan 2013, I switched to 100% shares.
I always say never to panic buy or panic sell. Determine a target price and monitor the stock daily to watch out for warning signs or changes that would make you reconsider your investment.
Interesting thread! bmw, how do you determine your target price?
I work best if I have somewhat of a routine and trying to put together a group of sites to find needed information. What sites do you get your info from. Maybe I was not looking hard enough but I don't see Forward P/E's anywhere.
Thanks
-Previous Close
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-52 Week Range
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-Market Cap
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-Dividend Yield
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