beginner
Where can I learn how to trade with a few thou for the short term (<3mo) with greater than 20% return. I've never invested anything. I know that long term investing seems much easier from what i've read ie. value investing with stock screens, but what is another good strategy? I am looking for a strategy, teacher, website, anything to start learning, but with a goal of putting money in the market. I'm not interested in funds or managers. Thanks to anyone with advice.
Answers
4087 points
EthanR answered 2 years ago …
There are several great books and web sites which can get you started, but I think you need to realize that your short term goal of greater than 20% return in less than three months is rather lofty! I do not know of any beginners who were able to realize that kind of return in that period of time. That would be 80% a year, and you can have your own talk show!
A few books that I have recommended before on this site, "Trading for a Living", Dr. Andrew Elder, and "A Beginner's Guide to Day Trading On Line" by Toni Turner. As for websites, definitely www.The Tycoon Report, www.stockcharts.com, and www.bigcharts.com
Good luck!
699 points
7million7years answered 2 years ago …
That, my friend, is called 'gambling' not 'investing'.
When evaluating ANY so-called 'investment strategy' you have to consider the return that you can make against 'market norms' ...
... which is a very simple way of saying "if I can do it ... and I don't have any SPECIAL INSIDER KNOWLEDGE that make me SPECIAL ... then why isn't EVERYBODY doing it?"
The answer is, of course, is: it's simply NOT possible ... otherwise EVERYBODY would be doing it, already!
... unless you get extremely lucky (which is why what you want to achieve is called 'speculating = gambling').
Sorry ...
PS The good news is that applying this knowledge can STILL make you $7mill. in 7 years in what I call the 'old fashioned way', but it requires a lot of HARD work on yourself and your businesses/investments ... and, sure, a bit of luck along the way doesn't hurt ;) - AJC.
381 points
SirCrashton answered 2 years ago …
The only way I know to earn such high returns within 90 days with limited funds is to trade options. However, learn everything you can and practice paper trading before you invest one dime of real money. Options can be very volatile and you can easily lose your entire investment in any given trade.
"The Complete Options Trader" by Ken Trester is one resource that explains how to trade options on the cheap but some of his advice is not appropriate for an inexperienced trader. That's why I recommend extensive practice with paper trades. Don't give in to the temptation to jump into this activity with real money just because you might miss out on a great return if you happen to be right about the direction of a stock. There will always be opportunities available. Additionally, to maintain control of your trade, never buy an option at market price.
Finally, because options prices can change quickly, I would recommend accessing a service that provides streaming quotes or trade utilizing stop limits if you can't monitor the markets during trading hours.
4087 points
EthanR answered 2 years ago …
7 Million, Could you elaborate on how to make 7 Million Dollars in 7 years? I would be very interested to learn how to do that, or provide your website or e-mail on your profile? Thanks!
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