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Originally Posted by pink godzila
0100, any good stock you recommand for short and long term?
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Oh man that is one thing I hate to do. I am probably the worst stock picker. The reason I hate to give stock picks is because I would feel terrible if my pick went in the wrong direction, and they do at times. I don't trade stocks long term so really can't help there. I think an oil stock like XOM is a good long term solid company to hold but not sure I would buy now. Looking at charts it seems overbought. Next charge up I think I am going to dump my shares of it, who know though it could keep trucking on up to 100 by summer. Maybe on a pull back I might buy some more options. Way too scared to short this with all the stuff going on in the mid east. Bent crude is above $114 just now this early monday AM, all due to Libya, which should be great for oil stocks this AM. XOM should see a pop today but sometimes OIL price and OIL stocks don't go hand and hand. If you got balls trade straight oil right now, but be prepared to loose your shirt or make major bank. Other stuff I am looking at is AMD and NFLX (off a major pop). I am usually only in a stock or option from a day to 4 weeks tops. Not really into the fundamentals of a company as I am not holding them for a long time. More intereasted in the technicals to find a stock that is trending up or down. Are you more intereasted in speculating (like me) or investing?
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Originally Posted by Wongger
I have been paper trading for awhile now, and been doing decently, what online sites do you use for trading? Few of my friends are using e trade, and some are using schwab.
Also, whats a good starting limit to invest. I don't want to lose a shit load of money, but I want enough to make a decent gain.
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Paper trading is good, the only thing it is missing is the fear. Once you have your real money on the line it makes you do stupid things.
I use tradeking, and also just opened an account with thinkorswim but haven't funded it yet, but they are suppose to be very good. I really like tradeking. I also play in the forex market when I'm feeling insane. I use AAAfx which have been great and offer a 200:1 leverage. Yeah that's enough leverage to hang yourself.
Amount of money... That is up to you, but I wouldn't put any money in the market that you wouldn't mind burning. With options and forex you can make a lot more on a lot less due to the leverage, but you can also lose a lot much faster than trading stocks.