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One more thing, unless you're picking 20 or 30 companies and doing this with all of them, you are grossly overweighting your exposure to one stock. Putting all your eggs in one basket, so to speak. This is not a wise approach no matter how good the stock is or how sure you are about the direction of it. You can never get around the chaos factor. There is no way to know all the things that could happen in the world and there are too many factors beyond anyone's control.
The only way your approach has merit is if this is "casino money" and you are just placing a bet for the fun of it.
GM is @ $11.40, i don't need to argue any more because the limit has hit, and it only took a few days, so i'll just put the base + 5% in CD for a year to earn the rest 3.5%, safely
When i did the type of trading you describe (day trading) i sought a decent company that had massive fluctuations daily and kept repeating it week in and week out. I made some good money quickly It can be done you just need a volatile performer. I'm sure there are manyu in here doing that as I type.
Last edited by AONE; 09-25-2008 at 08:06 PM..
Reason: spelling
My 12 YO DD has been really getting into learning about the stock market. She wants to buy 100 shares of GM stock now. At 75 cents a share, I figure it's a better bet than lotto tickets and would be a good way for her to get her feet wet with little to lose.
GM is @ $11.40, i don't need to argue any more because the limit has hit, and it only took a few days, so i'll just put the base + 5% in CD for a year to earn the rest 3.5%, safely
say i buy GM, through one of them online discount broker, i think it's $7 or 10 a trade, and place a limit order to sell(5% up), does that beat putting money into a CD earning only 3.5% a year?
We now have the answer to this question.. Brassbin, your answer is NO.. A CD was a bunch better investment than GM..
Gold will top 1,000 if not Monday then soon. Forget penny stocks , which , by the way , is most of them ! Several Gold miners stock is giving 40 per cent returns.......wishing my timing was better....
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