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| Money Money Money... Finances, money, investing, saving, anything to do with the green stuff that makes the world go around. |
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# 1

2007-05-04, 00:11
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Making Money for Idiots
First of all you have to stop with all the bullshit threads asking how to turn your $200 into a fortune. Use some common sense here. It's unlikely that you're going to have a 4000% return yielding you $10,000 at the end of the month. The only way I see this happening is if you're an amazing poker player and have a shit load of luck. Either way you're probably going to loose that $200 in your first 30 minutes of playing.....Oh wait...You're underage. Forget about gambling. But enough of that.
For all you eAdvisors out there telling people to put $10,000 into a CD account. Are you kidding me? Do you think with your ass? If you're serious about investing money you don't put such an insignificant amount of money into a CD account. At a 5% yield you're making $500 a year. You're better off begging for money on the street. And don't tell me "well you can compound that!" Compounding work best when you can earn a minimum of 7% to 10% return on your investment on a monthly basis.
Im not here to rant about how stupid some of the posts are here but to present to you information how to make money.
You need money to make money. It's that simple. In my experience as a mortgage banker working on wall street and specializing in real estate investments sometimes you don't need any money at all. Just good credit. But good credit takes time to establish and you need to be of age with employment history to borrow money from banks. No one is going to lend you $400,000 if you don't have proof you can pay it back.
Investing in stocks:
If you're interested in investing in stocks you need to have capital. I would say $10,000 to make a 5%-10% return a month. How do you do that? Simple. You do research on the companies. Watch the news. See what companies are being bought out. Watch for companies that are offering IPO's.
Do research.
Companies being traded publicly file quarterly financial statements. You can view them at this website:
http://www.sec.gov/edgar.shtml
You need to know accounting in order to comprehend what those statements mean. Otherwise you're going to be asking you're what the hell is this crap?
If you want to play with virtual money you can use this website to buy stocks with virtual money.
http://www.howthemarketworks.com
You can invest minimum of $10,000 virtual money. And a maximum of $500,000.
Learn options trading.
If you're serious about investing in stocks the best way to make money is to learn optiona trading. This website gives a great beginners tutorial.
http://www.cboe.com/LearnCenter/OptionsInstitute1.aspx
More to come.
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# 2

2007-05-04, 01:51
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Regular
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In the mind
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Re: Making Money for Idiots
thats dum
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# 3

2007-05-04, 02:09
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Regular
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Canada
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Re: Making Money for Idiots
Quote:
Originally Posted by legituser
thats dum
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u dum
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# 4

2007-05-04, 03:45
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Regular
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Joovile
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Re: Making Money for Idiots
Quote:
Originally Posted by Dopeman
u dum
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Oh the maturity!
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# 5

2007-05-04, 13:02
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Regular
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Southern/Northern California
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Re: Making Money for Idiots
Good post chocothrax.
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# 6

2007-05-04, 23:17
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Re: Making Money for Idiots
Although the first bit was good, I think you're an idiot as well.
How can you diversify or even beat commisions with $10,000 to invest in stocks? CDs are a good start when you don't have a lot of money.
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# 7

2007-05-05, 00:01
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Regular
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Illinois
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Re: Making Money for Idiots
Quote:
Originally Posted by Rolloffle
Although the first bit was good, I think you're an idiot as well.
How can you diversify or even beat commisions with $10,000 to invest in stocks? CDs are a good start when you don't have a lot of money.
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Thats really easy...You can find online trading sites where you easily pay under $10 for each trade and you can buy 5 stocks at 2 grand each. Thats decent. For a small school project I did that and have been making about $100 a week for a month now, but ofcourse as soon as I use real money I'll start losing it. 10k is enough to get started, but you can't be a day trader with only 10k
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# 8

2007-05-05, 00:44
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Re: Making Money for Idiots
Quote:
Originally Posted by KingFisher9
Thats really easy...You can find online trading sites where you easily pay under $10 for each trade and you can buy 5 stocks at 2 grand each. Thats decent. For a small school project I did that and have been making about $100 a week for a month now, but ofcourse as soon as I use real money I'll start losing it. 10k is enough to get started, but you can't be a day trader with only 10k
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Well said. 
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# 9

2007-05-05, 01:54
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Regular
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US
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Re: Making Money for Idiots
Good post chocothrax
I am in the market using etrade with about 4 grand.
making about 100 $ a month. i'm not very into it, and if i was, and had the time, i could make much more.
stocks are a good choice. you just have to do research.
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# 10

2007-05-05, 08:27
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Re: Making Money for Idiots
Quote:
Originally Posted by Rolloffle
Although the first bit was good, I think you're an idiot as well.
How can you diversify or even beat commisions with $10,000 to invest in stocks? CDs are a good start when you don't have a lot of money.
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With Ameritrade your first 50 trades are free. Second of all the most you will pay on commission is $5 per trade with a brokerage. I said $10,000 to get started not to be a day trade r trading100 stocks on a daily basis. Im giving fact's and reality. You're not going to go into trading stocks as a day trader. You would have to be an idiot to do that. You start by doing research on companies and making small moves. Don't hate.
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This thread continued for 2 pages in the real archive, 11 posts total - only page 1 survived here.
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