Trading for profit ( to buy a boat)

I dont know jack about trading. When I have tried virtual trading I can loose thousands per day even trading blue chip.

I don't even know what "put" button is.

The currency market seems slower to me and I might just be able to cope with that.

Any tips web sites tutorials etc.

 

muni

Low risk municipal bonds

 

Invest in marine products - PVC exhaust systems

 

The best way to make money trading is to become a Broker and earn commission on some punters cash.

You win regardless of how much cash you burn thru.

Its a win win scenario. Whole marinas full of superyachts are bought this way

 

I saw a doc movie other day about investment banker CEO's in US responsible for recent Wall Str crash.

These banker guys walked away with their $100m plus resignation packages after being found responsible for mismanagement of investors funds, and no criminal charges

 

This is good advice. The commitment to become a broker isn't enormous. The series 7 is a 6-hour test and requires a few months of study. You do need to work for a sponsoring firm that oversees you. You have 2 years to register after passing the test.

 

I've done some trading and the one common thing that is required is education, lots of it. It doesn't matter what type of "financial devices" you are working with, you have to really know what's going on. If working stocks, you better have a really good grip on the companies you're invested with or plan on investing in. If you're working currency, a strong grip on the things that affect the rates. Simply put, without a very tight and daily understanding of the market you're playing in, it's just guessing, which isn't the best investment program to follow. It's an 8 to 10 hour a day job, if you're lucky (and want to be successful) and if working multiple markets, it's a 16 to 18 hour day, all gathering knowledge, about the areas you're divested into.

 

The idea is not to become employed just a bit of blue chip trading with very good dividends running at 5% in some cases such as BP.

Most utilities are pretty safe as they always make money because if they dont they just put the price up and you always need gas and electricity. Its not like you have a choice.

Ille wait for West Van Han to speak

 

My pension plan holds mostly blue chips. They chug right along , some years good , some years bad.... I will never get rich.

If you are looking for short term profits in the stockmarket...prepare to loose cash.

BP , since it is experiencing so many troubles, might be a good stock to speculate on.

http://www.guardian.co.uk/business/...s/2012/dec/14/shell-bp-potential-takeover-oil

 

Thanks Micheal but that link was a bummer I do read financial pages every day --I have to confess to liking this one.

http://www.thisismoney.co.uk/money/index.html

 

Bad news is good news for investors because they can buy cheap.

I like the ... "we paid 180,000 for our house and now its worth 115,000. "

Sooner or later the housing market will rebound. Companies involve with home improvement will benifit.

Other smart investments track Baby Boomer Demographics. What will retirees need ? If you can figure it out you win.

 

Brokers -- I clicked onto a web site this morning called Opteck. They just phoned me informing me I had opened an account. I said I have done no such thing and if I clicked the wrong button then cancel it. He then wanted to talk me through it al,---l I said whooaa im busy. He then wanted to cal at 5pm I said im washing my hair( which is a lie I never wash my hair on Mondays).

His voice got lower and lower and I said byeee.

Its a dog eat cat world out there.

 

There's no such thing as successful, casual stock trading. You either have a real good idea, what any particular blue chip might do or you're guessing. If you can afford to guess, go for it, other wise the business trade publications and many other news outlets, will need to be scrutinized everyday, or you're just guessing. Stocks are a lousy way to make make reliable income, BTW. As I mentioned, you have to pay close attention, watch trends and know when to purchase or sell. This is a lot of effort for a few percent.

With some education, software and a golden set of balls, you can get into many different types of "devices" that will yield much better than 5%, though you can just as easily get your butt handed to you, as well. If willing to do the "homework" you can yield 3, 4 and 5:1 payoffs (+), which does make the time invested worth the trouble and sleepless nights. Again, playing with currency exchange and futures, etc., requires a big investment in time and education. If you put in the time and pay your learning dues, you can fair well. Anything less will just suck your bank account dry. Bonds are a safer and higher yield than stocks, with a lot less work.

 

All I can get in a bank is 3 % fixed term and that is bespoke no one else can get that.

BP if after there US fines can get a grip will become stable again they are 5% dividend.

This is an improvement without trading without looking at nothing. Yes they may go down ---or they may go up. But as blue chip it is unlikely because they can and will just increase fuel prices to make a profit and we will still keep buying fuel.

They can go down a bit and if clear by 2% will still have my head above what I would with a 3% fixed.

Thats one plan. No time ever do I intend to sit watching the stock market as a day trader however dealing in penny shares if I had an acount might be fun.

20 years ago a Sunday paper issued top 10 penny shares. My friend used to be on the phone at 8am buying them. At 9 pm so did everyone else that read the news paper. At 5 pm he sold it all. he never left money over night.

He made a living on this Monday job. I m not sure if they still do that.

Thats how you make money, you find this little hole that no one else does,--well not many and you play it.

Trying to build a boat against everyone else is madness for instance.

 

They say the the rule for stock market gambling is to only use money that you can afford to loose.

Start your stock trading account and fix the budget. 2000 dollars or whatever...then get to work.

Some folks are surprisingly succesfull.

Many guys I know like to follow ..The Motley Fool. http://www.fool.co.uk/