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Any Warriors trade stocks at all?

by Adam Roy
11 replies
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Howdy.

I've been thinking about doing a little bit of stock trading. I know it's a gamble, but I just wanna try it out sometime.

I signed up over at scott trade already, but I haven't put the money into the account yet to start trading. I'm probably going to walk into the branch here in my hometown and see how it works behind the scenes first, talk to one of the guys there.

I was thinking about giving penny stocks a whirl, you know, find up and coming business with good business plans and buy $100 or whatever worth of penny stocks and just leave it.

Anyways, anyone have any experience trading stocks? Do you enjoy it?
  • Profile picture of the author derekwong28
    I only enjoy it when they are going up. When they are going down, I get into a bad mood. I only do long term investing only with high yield stocks that pay over 4% in dividends per year.
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    • Profile picture of the author myob
      The best time to buy was about two years ago.
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  • Profile picture of the author whateverpedia
    ... and don't forget what Mark Twain said:

    October. This is one of the peculiarly dangerous months to speculate in stocks in. The others are July, January, September, April, November, May, March, June, December, August, and February.
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  • Profile picture of the author seasoned
    I trade stocks.

    BEWARE! BEWARE!!! DANGER WILL ROBINSON!!!!!! One of the QUICKEST ways to lose money is in PENNY STOCKS! And you will have a HARD time buying $100 worth. They will likely charge you MORE for penny stocks.

    And HOW do you get the business plans?

    DO NOT! REPEAT, DO NOT! DO NOT EVER...Trust those "Buy X at .02, it will go to $20 witin the year" type advisers.

    As for enjoying it? It isn't really something to ENJOY unless you are a day trader or something, and you tend to do very well. Still, I'm up, so I'm happy.

    Steve
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  • Profile picture of the author PennyManTim
    Penny stock Trading is gambling... But you can win too... Pump and Dump artists manipulate it, but if you are not greedy - You can do pretty well...

    I think anyhow...
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  • Profile picture of the author securelogy
    I actively trade stocks. Got hammered in the summer last year but recovered later in the year during the rally. I have not traded this year yet. I have been spending all my time on Internet marketing. I found that when you want to trade well you need to be focused. If I cannot focus then I stay out of the market.
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  • Profile picture of the author seasoned
    BTW, you said "I'm probably going to walk into the branch here in my hometown and see how it works behind the scenes first, talk to one of the guys there."

    If you walk into the branch in your home town, you WON'T "see how it works behind the scenes". And most of the guys, especially TODAY, are IDIOTS! They take special classes so they can pass the tests without even knowing what anything means.

    They treat it like a market. A guy may sell you peas, and not even know if peas grow under the ground or on palm trees.

    Steve
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  • Profile picture of the author sloanjim
    Well how any one in bizz can say trading stocks is a gamble is a bit contradictory I.M.H.O. If you gamble...you gamble be it in bizz, stocks,horses, blackjack etc...

    The thing is to know what you are doing and take low risk/high proababilty trades.....that's it. Simple. Of course actually doing that is another thing.
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    • Profile picture of the author seasoned
      Originally Posted by sloanjim View Post

      Well how any one in bizz can say trading stocks is a gamble is a bit contradictory I.M.H.O. If you gamble...you gamble be it in bizz, stocks,horses, blackjack etc...

      The thing is to know what you are doing and take low risk/high proababilty trades.....that's it. Simple. Of course actually doing that is another thing.
      Well, penny stocks DO seem to be a gamble. Probably 4 things drive the MAJOR stock market, and the major stock market is generally required to NOT be penny stocks:

      1. Perception of the market
      2. Perception of the stock
      3. Perception of the officers of the company
      4. Track record of the company

      Ironically, earlier, when the only real players really WERE the rich, and there were fewer companies, 3 and 4 probably played a FAR bigger part.

      So, in a way, the PERCEPTION that it is a gamble ends up making it more of one.

      BTW for those that don't know, you CAN'T just say yopu want to be on the NYSE and appear there. They have a number of requirements. One is stock price. It looks like they may have lowered it, I could SWEAR it was $5, but even now it is $4.

      NYSE, New York Stock Exchange > Regulation > NYSE > Listed Companies

      EVEN the special LOW requirement exchange doesn't allow REAL low prices!

      http://www.nasdaq.com/about/nasdaq_listing_req_fees.pdf

      Anyway, the other major US exchanges ALSO have various requirements. You want to have a CHEAP stock, etc? You have to go to the pink sheets, at least in the US.

      Pink Sheets - Wikipedia, the free encyclopedia

      Of course, ANYONE can get listed THERE, and #3 and #4 RARELY apply, so it really IS a gamble!

      SOME may ask, well what about zzzbest? Minkow used a stupid little loophole, to sidestep requirements!

      ZZZZ Best Taken Public by 19-Year-Old Founder
      January 21, 1986
      ZZZZ Best, the Reseda-based carpet cleaning business founded by youthful entrepreneur Barry Minkow, has gone public by taking over a dormant oil-and-gas exploration business that has publicly traded stock. To complete the merger, Minkow traded all of his ZZZZ Best stock for 80% of Morningstar Investments, a Utah shell company, said Harold Fischman, Minkow's lawyer. The merged company will be named ZZZZ Best Co. Inc., and will be reincorporated in Nevada with Minkow as chairman and president.
      Steve
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      • Profile picture of the author myob
        As a contrarian investor, I bought up tons of stocks when most were literally going for pennies on the dollar just a little over two years ago. Back in those days, prime companies really were penny stocks. Now that people are starting to invest heavily, I'm dumping and making a killing. Getting ready for the next round.
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