i need help please

[joelb]

i have a TDameritrade account and have daytraded before and ended up loosing more than i made. i would like to start trading again but was hoping i could talk to someone who has done it or is doing it successfully. i lost about $1000 on a single stock in 07 then in 2009 i lost about $3k throughout the year so this year i would like to make some money. any pointers, stock chats, forums, books or ideas would be greatly appreciated. thanks in advance, joel

[Bill S]

Joel,

Ever go to Retama Park? See the guys on the rail looking at the horses? They are the pros. They turn around and see all of the amateurs in the stands (us), and say "THAT, is our paycheck".

We own a fair amount of stock. I trust the experts to do our investing for us. They know WAY more than I can ever know.

I know several folks who were big into day trading. When the market is going up, they do well. 2 I know of have lost their houses.

[wesheltonj]

If you are going to day trade, you need to pick no more then 2 stocks. Review, every days trading history for at least 10 years. Follow every new story on them. And do not day trade on margin.

[allan]

Man, when citi, aig, and a few more that I don't remember at the moment, were at less than a dollar (one was like $1.90) a share I picked up a bunch. I checked them a few weeks ago and they're close to $5 each.

Even sirius, which I picked up at pennies to the share, is over a dollar a share now.

But that's all based on advice of a buddy of mine. I tried buying stuff on my own, I'm not very good at picking them. One of my personal picks was Eddie buer, like 20 cents a share, sold it at 75, but I kept fifty shares... Which shriveled up and disappeared.

Good luck buddy. Too much stress for me.