Does anyone know about the stock market?
I was wondering if it is possible get rich by playing the stock market because I am somewhat considering to participate in this stuff; however, I really don't much about the stocks themselves and how to get the latest quotes. Most important, I really don't know how to play it properly. Therefore, I am hoping that someone can tell me the pros and cons of playing the stock market. I am serious; therefore, PLEASE HELP!!!!!!!!
- 1 decade agoFavorite Answer
the dirty dozen of investing:
1. if you don't know how to get a quote then don't consider investing a cent until you do
2. the market goes up and down all the time
3. look for trends that go up over a long period of time
4. if you can not afford to lose the money then invest in CD's
5. yes some people get rich most go broke
6. my guess is the majority of day traders go broke and lose everything although they will make mones on some stocks, they will lose on others.
7. take out a subscription to the motley fool they give great tips and advice. sign up their trial period (30 days?) and they will continue to send you hints after the trial is over.
8. brokers make money on the sale and the purchase of stock so if your broker is constantly selling and buying you might have to take a second look to make sure he/she is doing the right thing for you.
9. Pick 10 stocks and set up an excel spread sheet. then pretend that you have invested 10,000 in each one of them. Track the stocks for a period of time and see you did.
10. you must understand dividends, splits, etc to play the market.
11 .you must also understand the tax consequences of selling stock .
12 if anyone really knew how to play the market they would not share it with you, they would keep the info themselves.
- Anonymous1 decade ago
yes it is quite possible, Jim Cramer was a middle class kid from Philadelphia with a gift for investing, he used gains in the stock market to pay for Harvard law school then went on to found and manage a $400 million hedge fund which made 24% year over year for 14 years in a row after all fees. He now is super wealthy and has retired from his hedge fund and hosts a show on CNBC called MAD MONEY. He has written several books but you should start with "Mad Money" it is a basic investing guide which teaches the fundamentals. But do not even think of buying anything until you have considerably more knowledge than you currently do. You could try going to the website he founded www.thestreet.com it has a tab titled "the street university" it has a lot of good info for information.
Jim has made me a considerable sum of money and if you do the necessary work you too could make money, however; bear in mind that proper investing is a LOT of work and is anything but a get rich quick scheme. Too many people think that they can simply get rich by pumping money into various stocks without doing any of the necessary work.
I hope that this adequately answers your question.
- JLv 41 decade ago
You are think of the stock market like it is a game that once you learn you can get rich and please tell you the secret. You are begging to be taken advantage of. Don't you think if anyone really knew they would keep it to themselves? Pretenders create a scheme that they try to sell you - a course, software, a book. That is how they get rich. The best investment professionals advise pension funds and college endowment funds and they have trouble beating the market on a consistent basis. Read up on mutual funds and asset allocation and try to grow your nest egg slowly over time. You can get wealthy but not in a couple of years.
- 1 decade ago
Unless you are willing to spend 4-6 hours a day studying the market, don't attempt to play the stock market.
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- Anonymous1 decade ago
Get rich quick schemes in the capitalist business world, (buyouts, IPOs, conglomerates, acquisitions, mergers, and the stock market), do not actually work. Remaining solvent does not actually exist within false economics capitalism.
Profit existing in the capitalist business world, or millionaires existing within capitalism, is pathological deception committed by the 21 organizations spying on the population with plain clothes agents, (with covert fake names and fake backgrounds).
Actual economics is the persons paying the monthly business loan payments of companies voting at work in order to control the property they are paying for.
Capitalism is the psychology of imaginary parents, false economics, and the criminal deception of employees that are paying the bills (including the stocks and bonds, or shares) of companies.
Anti-democracy republicanism is the psychology of imaginary parents and false government.
- ardoinLv 44 years ago
What do you propose by " plenty expected and predicted crash... of inventory marketplace". have been you the only looking forward to this? have you ever invested interior the markets? if so, have you ever gained plenty? i don't get the rational to your question! Mr. you may carry out somewhat examine! i think of that right this moment advance into purely yet another "down" day interior the markets brought about by an prolonged haul by the housing and credit disaster!
- Angel LuzLv 51 decade ago
CFDs (stocks, indices, commodities) and Forex are the future of the financial markets. Free online training is available on this site -- http://finance.groups.yahoo.com/group/currencytrad...
Everything you need to know can be taken up.
- Anonymous1 decade ago
I will help you for FREE.
I am a Portfolio Manager with over a decade of experience in the Stock Markets.
Open a brokerage account.
If you have less than $25,000.00 USD then you can use Zecco (It's FREE)
If you have more than $25,000.00 USD then you can use Fidelity, TD Ameritrade, Charles Schwab or E*Trade.