I mean a lot. I think out of 60 or so I predicated about 55 right and out of the 2 dozen or so I did in depth research on I did really well on. What I mean buy this is I researched, look at previous history and what not of the stocks and picked out of the hundreds and hundreds approx. 60 and "invested" (I kept a little side sheet, very spartan I know) and did exceptionally well.
So now...how would I even begin to dabble with this in real life? I have a few thousand I'm willing to risk and try my hand. Mind you I'm a college kid with no formal training but just my gut feeling and so far it seems to be right. So any advice on where to start?
its pretty easy to pick stocks in a market that keeps going up everyday. pretty much every index is at an all time high. don't let it go to your head man, you'll lose your shirt.
if you want to test your stock picking prowess, try doing it during a flat or bear market, then we'll see.
if you really want to give it a shot, open a scottrade account and put YOUR money on the line.
quoted for truth
A finance professor at our school has a joke something along the lines of,
"Bull Market (n): A time when every investor thinks he's an investing genius."
what is your sharpe ratio?...not to remind you of a classic interview question: "One of my traders had only 10% return this year. Should I fire him and hire you?"
Using past performance as an investment strategy isnt the best of ideas.
The real trick to trading is knowing when to get out. So when you invest money it shouldnt be "I want to make a profit"
But rather "I want to make this much profit in this time frame"
While I'd definitley say go for it try and define what sort of strategy you will take on.
Trust me, you cannot trade part time. Don't even try it. Don't even consider buying options either. You may be "right" but unless you have made real money trading real money then all of that is hot air.
I mean, you do have a decent amount of money (few thousand) and as long as you know the risks, why not give it a shot? Worst case scenario is you lose all your money, but at least you gain some valuable experience trading. Do what you wanna do.
i think etrade is really easy to use, plus i could transfer money out to my checking account whenever i wanted. i usually only trade in the summer because otherwise ill never get to class.
thanks for the info. And yeah, I obviously want to try it now while it's a bull market. So etrade or scott-trade? which should i use? And my intended goal is to make money in short spurts, ie. buy a stock, have it have a little "spike" then sell it unelss I see it going further. I also intend to find stocks that reach an all time low.
check out elite trader for reviews. but keep in mind that they are reviews from guys that are trading all the time.
not to trash your abilities but have you looked at the Dow or SP chart recently? its almost vertical!!
^so do you suggest I "strike while the iron's hot" and pat myself on the back and pretend it was all innate ability?
I agree, people mentioning they have 40% returns or something during an interview is absolutely ridiculous. It would be hard not to make money over the last few years, and if you want to boost your returns, leverage the fuck out of your bets. We are not impressed.
^if that was directed at me, I don't have the "power" to leverage just yet, but I will be calling a few finance specialist (basically people who'll help me get started) tomorrow, hope they don't take fees.
so do you actually put any thought into your stock picking, apart from "hey, i've heard of this company before!"
just chill out and focus on your schoolwork.
HAHHAHAHAHA....
You probably don't understand the WSJ/FT times/bloomberg given the level of your education.
I think portfolio managers do a little more than that.........But no, Hey, investing is real easy, even a small child can do it!
yes, I read articles reviews, stock trends, etc... I dont just click on coke, diapers, and mcdonalds...
^ouch...but yes, I do understand. Red is bad, green is good, arrow up good, arrow down bad, unless I'm shorting, then the reverse. But hey, what do I know?
.................................hahaha
What's your alpha?
my alpha? um, high?
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