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adamsfence · #1 08-10-2011, 07:50 AM

alright im interested in this(stock market) but i want to get my feet wet by playing with small amounts of money first couple of questions

what about penny stocks?
who do you use to make trades
how do you research your trades

Zachary Boy · #2 08-10-2011, 08:17 AM

I use a broker @ Edward Jones. I keep my stuff in 'blue chip' stocks that are relatively safe and pay decent dividends. The younger you are , the more risk you can afford to take. The more risk, the higher the reward. At my age 54, i am just trying to hang on to savings accumulated over 30 years. To make da cheese, you have to lay those nads out there...When I signed up, I filled out a form that asked me what my 'pain threshold' was. The last week has tested that(risk tolerence) very much..

jchief · #3 08-10-2011, 08:22 AM

Adam, Fool posted about an app for playing a simulated market. I downloaded one on my puter yesterday, but have not messed with it yet.

I am where you are at now.

alphaman · #4 08-10-2011, 08:37 AM

I'm also interested in this. But don't know where/how to start. What the name of that app.

sent from my HTC Inspire

jchief · #5 08-10-2011, 08:50 AM

This is the best reviewed that I saw so far

http://www.investingsimulators.com/s...mmunityreviews

http://www.updown.com/?_code=affiliates?idev_id=534

I don't know if they will work on a phone.

adamsfence · #6 08-10-2011, 09:11 AM

im playing with it on my phone now made 500 yesterday but lost it all this morning.......im just wanting to start with a few hundred and play before i go all out there. i have funds and stuff for my retirement just wanting to dab a bit buying and selling

nobody does penny stocks

huntin fool · #7 08-10-2011, 09:33 AM

Quote:

Originally Posted by adamsfence

im playing with it on my phone now made 500 yesterday but lost it all this morning.......im just wanting to start with a few hundred and play before i go all out there. i have funds and stuff for my retirement just wanting to dab a bit buying and selling

nobody does penny stocks

Adam maybe you can explain this app a lil more to me as I just switched to the millionaire one. How can you tell what you have made? Where is that located

adamsfence · #8 08-10-2011, 09:37 AM

on mine it says worth in blue at the top right.... you started with100000 mine now says 99904 so i lost 100 im guessing. also if you go to the trophy you can see what the top guys are buying and selling......most of them are playing with stocks less than a dollar.........but you can reset your 100000 at anytime so i wouldn't care either.

Micah · #9 08-10-2011, 03:38 PM

From YAHOO.....

The market roller coaster took another big dip down Wednesday, with the Dow tumbling more than 400 points midday before stabilizing a bit.
If you're like most non-professional traders, these kind of wild market swings — down 635 Monday, up 430 Tuesday, down 400 Wednesday -- can be gut wrenching, confusing and downright scary. (Rest assured, many professionals feel the same way - they just don't admit it.)
For those of you feeling paralyzed by the panic, here are some time-honored rules for a seesaw market:
If You Can't Take the Heat, Get Out: As my Breakout colleague Jeff Macke likes to say, if the market is keeping you up at night, you shouldn't be in it. This is particularly true for people at or near retirement age; you simply don't have the time (or income stream) to make up for big losses, a hard lesson many aging Baby Boomers learned in 2008. The same rule applies if you have funds in the stock market earmarked for a specific event in 5 years or less, like a house purchase, wedding or college tuition.
Contrary to what financial advisers tell you, there's no law stating your money has to be in the stock market, just as, contrary to what financial advisers tell you, there's no guarantee stocks will perform well "in the long run."
Don't Panic: If you don't need the money in your retirement account in 5 years or less, you're better off sitting tight vs. cutting and running. Unfortunately, many investors simply can't take the pain and are doing just that.
Transfers in the 4.7 million 401(k) accounts monitored by consultant Aon Hewitt exceeded $1.6 billion on Monday, more than three times the normal level, ABC News reports. "All of the assets moved Monday were taken out of stock funds and invested primarily in bond funds."
Historically speaking, retail investors get scared and sell out of stocks at important market bottoms. Pulling out after a big decline means locking in those losses, a mistake many investors compound by turning around and buying assets that may already be at inflated prices, such as gold and Treasuries in the current environment. That's why Wall Street pros refer to us as "the dumb money."
Have a Plan: Sometimes the most boring advice is the best advice.
Investors who have previously established set patterns of portfolio rebalancing, diversification of investments and long-term goals for their money tend to do better -- both emotionally and financially -- during periods of dramatic market upheaval, says Liz Ann Sonders, Charles Schwab's chief investment strategist.
Learn from Your Mistakes: At of July 1, 80% of workers in their 40s and 50s had more money in their 401(k) then they did in 2007, meaning they'd recouped the losses from 2008, according to data compiled for AP by the Employee Benefits Research Institute. After Monday's 6.66% decline, that figured had dropped to 64%, suggesting a lot of investors were just waiting to get back to even after 2008 but hadn't changed their behavior.
Just as refusing to open statements from your broker or 401(k) administrator doesn't count as "financial planning," neither does "hoping and praying" the market will come back.
Nobody knowshow much longer the current market squall will last or how much lower stocks will go before it ends. Then again it's quite possible the selloff ends today (or tomorrow) and stocks will return to their rallying ways. What can be said with near-100% certainty is this won't be the last time the stock market embarks on a heart-stopping decline.
So sometime when the market's closed or (ha-ha) quiet in the next few days, take a minute to ask yourself a few questions:

Am I doing anything different today then I was doing before the market crashed in 2008…or 2000?

How much volatility can I really stomach and how much money can I really afford to lose, even if just on paper, even if just temporarily? In other words, what is your risk tolerance?

Can I really do this myself? If the answer is "no," then you're much better off finding a financial adviser. A good one can help you navigate the stock market's highs and lows; he or she won't promise you the moon, and the fees paid will be well worth your piece of mind and your bottom line.

In the end, the best advice anyone can give you is this: Investor, know thyself…and proceed accordingly.

ckinchen · #10 08-10-2011, 10:10 PM

Quote:

Originally Posted by adamsfence

alright im interested in this(stock market) but i want to get my feet wet by playing with small amounts of money first couple of questions

what about penny stocks?
who do you use to make trades
how do you research your trades

Well I can't tell you much because my firm audits over 100 penny stock companies and I really do not want to go to jail for insider trading but let me tell you this. Penny Stock = Playing the Lotto.

joshdomingue · #11 08-11-2011, 07:12 AM

Quote:

Originally Posted by adamsfence

alright im interested in this(stock market) but i want to get my feet wet by playing with small amounts of money first couple of questions

what about penny stocks?
who do you use to make trades
how do you research your trades

When you figure all this out ..... let me know.

adamsfence · #12 08-11-2011, 07:59 AM

Quote:

Originally Posted by ckinchen

Well I can't tell you much because my firm audits over 100 penny stock companies and I really do not want to go to jail for insider trading but let me tell you this. Penny Stock = Playing the Lotto.

man i can keep my mouth shut pretty good......what you need phone number, email, tell me at the tourney, i'll be in baytown starting monday

......kind of what i want to do either make alot or loose it kinda like my trip to the casino. i just want to play don't have the balls to put alot of money on the line.

SaltERedneck · #13 08-11-2011, 08:09 AM

dude I put my money in ROTH IRA... you can get aggressive with those also. I dont have time to play around on the market sooo i let others do it for me. Its not really a big money maker but a good investment over time.

adamsfence · #14 08-11-2011, 08:10 AM

Quote:

Originally Posted by SaltERedneck

dude I put my money in ROTH IRA... you can get aggressive with those also. I dont have time to play around on the market sooo i let others do it for me. Its not really a big money maker but a good investment over time.

i have a roth too that is what i keep some of my retirement in....what little i have

SaltERedneck · #15 08-11-2011, 08:17 AM

little is better than none. better to start early.

When playin with stocks I like to stick with things I KNOW about... not random things i have no clue about. Alot of mine go to the Medical industry... Ever growing and I am a medical person myself.

Gerald · #16 08-11-2011, 08:33 AM

If you want to start learning more about the stock market, here some free sources to look at for information. Some web sites require annual fees to get more than just the basic information about stocks.

http://finance.yahoo.com/

http://investing.money.msn.com/inves...market-summary

http://bigcharts.marketwatch.com/qui...&freq=1&time=8

http://www.zacks.com/