Stock Market Players?

[RayAllen]

My wife and I are novices when it comes to stocks or working the stock market. We do have some stuff out there do to our IRA and ING..

We are looking to make real money, we understand that this is a timely process and know we will not strike oil over night.

What we would like to see.

Say I had $2500,00 to invest today, it would be great to make that $2500 into at least $7500 or better within a years time.

Any knowledge and advice would be greatly appreciated.

[RayAllen]

no one wants to share their secrets, LOL.

[alton]

If you find a place to triple your money in a year please let me know I am in. I would of thought GM stock would of gone up more, but I think it is only up $2? And Ford is still down at $16. If you can find a company just coming to the market and then sell before owners can sell there options you can do pretty well. Until we can change the way 401K's are structured, our stock market is a very large gamble. Right now the only getting rich are CEO's.

[Mr Cob]

I think the only way you can turn $2500 into $7500 or better is by being a day trader which is a much higher risk. To me it's more enjoyable though...but requires a lot of dedication, kind of reminds me of playing Texas Hold'em. You might even get turned on by getting a copy of walstreet journal delivered to your door every morning. I did...lol, smoke a cigar in the evening...made me kind of feel rich and famous...haha.

Anyways, I get the most out of day trading but personally I think you increase your ability to make more, with more. The goal with day trading is to buy a lot when a stock is preferably gowing up and sell as it's still going up. Make sense?

Practice first before trying to day trade....it's easy to lose it ALL real fast! But, if you know what you are doing then you can make some nice money as well. I would feel more comfortable with starting with $7500 though...because you will lose some of it even if you are a good day trader but the idea is to spread it around and still have enough to cover the trade cost and the occassional loss.

I did a lot of practicing here:http://wallstreetsurvivor.com/
(it's fun and you can compete with friends, family and others online, it's all ficticious but based on the actual stock market, there is a small delay so that skews your outcome a bit but the concept can still be applied)

Also, I'm not a financial advisor in any way shape or form, I have day traded and really don't know what I'm doing. So make sure YOU do before trying to day trade. I only recommended day trading because you said you want to triple your money in a years time and day trading is the only way I know to do that but it comes with high risks. I know several people that have lost a lot of moolah day trading. That isn't really investing...that's more gambling than anything.

You could also practice moving your cash around. Take a large sum and move it from accounts that are paying high interest. That only works well on large sums of money though.

[Mr Cob]

no one wants to share their secrets, LOL.

I think the only secret is it takes money to make money. if someone wants to share their secret with you for a cost then the secret really is ...(you're about to get scammed)

[RayAllen]

Thanks Rob,

We honestly do not know what to expect making, 3x was an example. Any money made is a +.

You provided some good advice and we are going to check out the link you provided.

[Mr Cob]

have fun Ray, let me know when you start raking in the cash and then you can help me or we can smoke a cigar together and talk about the money we lost...lol no...no no...only winners here! Blessings my brother! Blessings of prosperity to you and your wife!

[ErikH]

I would try to stick close to the industries you know. If you see someone coming up with something new in an industry you are familiar with, it's easier to gauge how successful the new product/service will be that they are offering. That way you are making a safe bet rather than playing with fire, lol.

Rob is making me laugh, I can picture him smoking a cigar that he lit with a hundred dollar bill. It's either one he got from his stock going up, or one he decided to keep and just use it to light his cigar because he knows he's gonna lose it to the market anyway. LOL

I do agree with the fact that 2500 will come and go very fast. Alot of money managers won't even look your way unless you got 10k to burn, and that 10k won't kill you if it gets lost.

When I go play Black Jack, if I am playing at a 5 dollar table, I know to ride through the storm I need at least 100.

[Mr Cob]

lol Erik! You made me laugh at myself...haha!