Glitch 73 Share Posted May 20, 2015 I want to start to trade but cant find any good brokers. Any ideas? Link to comment Share on other sites More sharing options...
Val 125 Share Posted May 20, 2015 Study stocks yourself? Link to comment Share on other sites More sharing options...
Chris 154 Share Posted May 20, 2015 I want to start to trade but cant find any good brokers. Any ideas? Yes. Research emerging companies who could have a large impact on the world in the future. Buy a whole bunch of stocks ($1k+, usually $5-$10 a trade) Wait for said emerging company to fix the world When your 4000 shares rise to $20 a share, profit Link to comment Share on other sites More sharing options...
Nebraska 136 Share Posted May 20, 2015 Yes. Research emerging companies who could have a large impact on the world in the future. Buy a whole bunch of stocks ($1k+, usually $5-$10 a trade) Wait for said emerging company to fix the world When your 4000 shares rise to $20 a share, profit Well this couldnt possible go wrong! Link to comment Share on other sites More sharing options...
Glitch 73 Author Share Posted May 20, 2015 Yes. Research emerging companies who could have a large impact on the world in the future. Buy a whole bunch of stocks ($1k+, usually $5-$10 a trade) Wait for said emerging company to fix the world When your 4000 shares rise to $20 a share, profit I have ideas, I just need to find a good place to trade. Link to comment Share on other sites More sharing options...
Trustmybet 47 Share Posted May 20, 2015 Meh the market is pretty dead. I wouldn't risk it anymore Link to comment Share on other sites More sharing options...
Vlad 216 Share Posted May 20, 2015 Penny stocks are basically a gamble. I would recommend learning to invest properly for 5-10% per year after inflation. Link to comment Share on other sites More sharing options...
Explicit 213 Share Posted May 20, 2015 I spent a lot of time researching penny stocks awhile ago as I wanted to get into trading due to the potential profits. The fact is unless you have $10k+ to invest (and I mean literally invest it all, not like a couple hundred dollars here and there) you're not going to make any money due to extremely small profit margins and the ridiculous laws they have to kill small penny stock traders. I forget what the rule was, and the specifics, but it basically stated that penny stock traders who made over a certain amount of traders per week (like 5 or something) got HUGE penalties unless they had a shitload of money invested or something like that. tl;dr don't waste your time like I did. Link to comment Share on other sites More sharing options...
Chris 154 Share Posted May 20, 2015 I spent a lot of time researching penny stocks awhile ago as I wanted to get into trading due to the potential profits. The fact is unless you have $10k+ to invest (and I mean literally invest it all, not like a couple hundred dollars here and there) you're not going to make any money due to extremely small profit margins and the ridiculous laws they have to kill small penny stock traders. I forget what the rule was, and the specifics, but it basically stated that penny stock traders who made over a certain amount of traders per week (like 5 or something) got HUGE penalties unless they had a shitload of money invested or something like that. tl;dr don't waste your time like I did. The only way to make serious money with penny stocks/socks in general is long term holding. The taxes you pay on short term gains make it extremely hard to profit. Link to comment Share on other sites More sharing options...
Cruel 103 Share Posted May 21, 2015 Honestly I agree with @Vlad. Penny Stocks are a complete gamble and ultimately are not a wise gamble. In life there is no such thing as quick money. Invest smart, spend wisely, and watch your money grow all the way into retirement. I took a Dave Ramsey economic course and it's one of the best decisions I've ever made financially. I'm 20 years old and in college and already have all the pieces in place to live on my own. Be smart with your money and you'll go far. My last piece of advice... One on the biggest rumors ever is that you need to build credit. We live in a society where people like to live above their means, but I've only ever had a debit card and cash it has and never will hold me back. Never owe anyone anything. Feel free to PM me or Skype me to talk about this in greater detail Link to comment Share on other sites More sharing options...
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