Need some new guy advice...

#1
Hello all, I have a very basic question and just seeking advice, if this is not the place to do that I will kindly leave. Ok, in a nutshell I would like a to make some money, and I dont know a lot about the market at all.

Im 24 single and only make about 25,000 a year; Im also a part time student. I currently have no debt or loans. I would like to put some money into the market to see if its something I can learn. At first I would be willing to put in about $1,000-$3,000 this is basically everything Ive saved while paying off my old debt now that Im free of that money is a little bit more in my hands.

Now with that said, you will all probably think Im crazy since I have no real money and dont know a lot about the market, at all.

So does anyone have any advice? I have been thinking about buying for the past few years, but just didnt have the money, and now that the markets are down I dont see why now is a bad time for someone like me to put money in? Then again I know nothing.
 
#2
Dear Member,

I think it is a great decision you have taken to start stock trading. And to clear your misconception, this is the best time to get into trading. The recession blues are nearing its end and the sensex has been trading firmly for the past 2 weeks. The stocks are undervalued as of now some by even 50% of what they were a year ago. You can book much profit by entering positions in this situation.

However, one thing you need to keep in mind is that as a starter, day trading is a STRICT NO NO as you may end up losing all your money in a matter of minutes. You can get into delivery positions and buy shares in BTST (Buy Today Sell Tomorrow). This is how it works. You monitor the market for one full day and just 1/2 hour before the close of the market view the list of top losers in Group A companies and identify a particular stock which is down that day and by how much percentage and in money value. Then view its days highs and lows for the past one week and draw an average price for the week. If the stock is below the average for that week then you can enter the position in delivery and sell the stock in profit the next day when the market opens.

This is a fairly simple concept/strategy to use and it has proven beneficial time and again. Hope this helps@

Ciao.
 
#3
i really appreciate that you are interesting in trading. Traders generally focus on a specific class of security, mostly common stocks, but they may also trade equity options, commodity futures, financial futures, futures options, bonds, foreign markets, and so forth.
my fey area of interest is Forex trading. so if you wanna know something about it, you can ask me!
 

sudoku1

Well-Known Member
#5
Im 24 single and only make about 25,000 a year; Im also a part time student. I currently have no debt or loans. I would like to put some money into the market to see if its something I can learn. At first I would be willing to put in about $1,000-$3,000 this is basically everything Ive saved while paying off my old debt now that Im free of that money is a little bit more in my hands.

Now with that said, you will all probably think Im crazy since I have no real money and dont know a lot about the market, at all.

So does anyone have any advice? I have been thinking about buying for the past few years, but just didnt have the money, and now that the markets are down I dont see why now is a bad time for someone like me to put money in? Then again I know nothing.

"The darkest hour of any man's life is when he sits down 2 plan how 2 get money without earning it." :)


dont take these lines otherwise friend..
u want 2 come in the mkt bcoz :
>u dont have any knowledge abt the mkts
>u have no real money
>u were thinking of buying all these years
>& now the mkts r down (2 b precise :they have scaled a 7000 point mountain in a matter of couple of months )

& >>>
" I dont see why now is a bad time for someone like me to put money in? "
........go to point no one..

dont u think all the abv points r against the law of investing ?
pardon me if i m wrong:)
 

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