new on the market

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  • newfootprint

    new on the market

    hello, everyone.
    I am new to stock investment and know the basic buy low and sell high. I'v got my account set up with scottrade with $500. So how long would it take me to reach $1,000,000.00? 10 years with pro like you guys? Just kidding.
    The reason I'm here and want to know and get your advice on how to get start it like go to this web site to download this for stock chart. and get subscribe to that company for their stock detail and bla. bla.bla, So how do you guys get start it? learn how to read 50dma/200dma something like that.Volume up buy, Volume down buy and no volume buy that crazy. I'll be broke before I get $1 profit.
    Please, if someone have free time and drop me an e-mail. I'll be appreciated and thank you very much.
    English is my second language.

    new footprint

  • #2
    newfootprint,
    The way I see it you have two basic choices:
    1) Invest your money in a good index fund and ignore it
    2) Prepare for this new hobby to take a LOT of your time

    You said you know the basic buy low, sell high, but many actually believe that this is not the best way to make money. Their preference is buy high, sell higher. This is the whole idea behind momentum trading. $$$MR MARKET $$$'s selection criteria doesn't look for stocks that are selling at all time lows, it looks for stocks that have rising prices. If you want to buy stocks based on value criteria, prepare to be VERY patient, and find a group that discusses value stocks. This isn't the place for that, IMO, though of course all opinions are welcome here.

    My recommendation to you is to start with a good book like O'Neill "How to Make Money in Stocks". Read it twice, slowly. This book covers the essentials of why a company is a good company in which to invest, and the trading techniques to profitbaly trade the stock of a good company.

    I subscribe to zero services or subscriptions. Everything you need is available for free online. I do a lot of first-level research at http://moneycentral.msn.com. For a good tutorial on chart indicators, try http://stockcharts.com/education/

    Good luck to you. Do not become discouraged if you make some really boneheaded mistakes. You will make them, learn from them.

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    • newfootprint

      #3
      Thank you very much stenzrob.
      I'll start it from here and take it as new hobby.
      Again, thank you.

      New footprint

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