I'm looking for short-term investments with $1,000, any suggestions?
So I've managed to save up $1,000 and just stashed it in my savings account. I'm interested in exploring ways in which I can invest it for some quick short-term gains (as long as the payout is worth my time). Not looking for a windfall (although a stroke of luck is welcomed) or anything like that, just want to learn a bit about investing. What are some possible ways I could invest it?
- Common SenseLv 78 years agoFavorite Answer
Stock trading would be the "easiest". However it can take 3-5 years to be profitable year over year (if you're one of the few that's profitable).
Read 6-12 books before starting. Concentrate on Risk Management. Stock picks mean nothing without good Risk Management.
A good way to double your money (or lose 60%) would be: MCP
(Place a good, strategic stop loss)Source(s): http://joefahmy.com/2010/03/17/recommended-reading... http://www.chrisperruna.com/2010/01/10/2010-stock-...