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Stocks?

post #1 of 6
8/9/04 at 11:02pm
Thread Starter 
Anyone's into stocks these days?

What are your predictions? Any bull markets anytime soon?
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post #2 of 6
8/9/04 at 11:28pm
I do long-term investing only, either through DRIPs, RIRAs, or the mutual funds in my retirement portfolio. I make no predictions, and rely on wide diversification through indexing with dollar-cost averaging. Market-timing is crap, and unless you have a lot of money you want to risk, I would go long term.
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post #3 of 6
8/10/04 at 3:40am
While I have yet to try it, my grandparent's played the market quite successfully. The advice my grandmother gave me was to keep the bulk of my money in long-term "safe" stocks and "play" with whatever amount I was comfortable with and could afford to lose. As you make profits on the amount you're playing with, re-invest it into safe stock and continue to play with the original amount. As what you have in the market grows, you can add more to what you're playing with. Perfectly reasonable advice that a lot of people with gambling problems should follow as well... When I'm done with school and get started in a career I will start playing the market. Good luck ampgalore, invest wisely!
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post #4 of 6
8/10/04 at 3:44am
Thread Starter 
Quote:
Originally Posted by Jasper994
While I have yet to try it, my grandparent's played the market quite successfully. The advice my grandmother gave me was to keep the bulk of my money in long-term "safe" stocks and "play" with whatever amount I was comfortable with and could afford to lose. As you make profits on the amount you're playing with, re-invest it into safe stock and continue to play with the original amount. As what you have in the market grows, you can add more to what you're playing with. Perfectly reasonable advice that a lot of people with gambling problems should follow as well... When I'm done with school and get started in a career I will start playing the market. Good luck ampgalore, invest wisely!

Thanks for the advice! And good luck to you as well!

May we all be frugal in our ways and be wealthy by our means.
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post #5 of 6
8/10/04 at 5:43am
I'll add my .02 on the matter. The best advice I can give is to maintain discipline. Often times individual investors allow themselves to get emotionally attached to a stock or to their own beliefs. If a stock drops 20% or hits your sell-stop, get out immediately. The people who get burned are the ones who hold with the hope that the stock will rebound, or even worse yet, buy additional shares thinking its a better buy. Most of the time, a stock starts nose diving for a reason. If one of your major holdings loses a significant portion of its value (50% or more), its absolutely devastating to your entire portfolio. Be able to identify a sinking ship and move on.
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post #6 of 6
8/10/04 at 9:06am

WizeTrade Software!

I do agree with Sultan...

Having a bit of discipline and not getting emotionally attached to certain stocks just because you like the company is the best way to fly. If you have a serious problem with getting attached to stocks, I would recommend some software. Stock analysis software doesn't take the risk out of trading, especially if you plan to trade multiples times each month. However, it will help you to manage risk and let go of stocks that simply aren't worth keeping.

I've been using Wizetrade for a number of months now. It seems to do what it's supposed to do... which is to help you to let go of stocks that aren't worth keeping...




edit: This software is worth every penny you pay for it
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