ok, bear with me.

i have recently become interested in online trading, but know NOTHING of the stock market and trading. i know a few close friends that turned $100 in 6k recently and i want in on that!

i have been tolling for the last few days through this forum and im afriad my limited knowledge doesnt allow me to gleam to much info.

i have read about Wyatt's Zecco and feel that it maybe the best way for me to start. can i open a Zecco account and throw $100 bucks at it, research on what stocks to buy, and then just what and see what happens? im not looking to make 100k on this or anything, but simply a little extra on the side.

i read the FAQ and stickies, but there doesnt seem to be bare bones explainations for someone in my position.

thanks guys.

Louie

 

Congrats on your interest. I have to say that if you're looking for a gentle introduction you aren't going to find one that has any immediate practical use. You can buy a book, wade through 500 pages and finish without any real practical knowledge. You are going to need to get wet at some point and than means jumping in.

First, let me adjust your expectations. The likelihood of turning $100 into $6,000 in the short term is very slim indeed. You do that by essentially gambling on very long shots and even then it's highly unlikely. If you are expecting that sort of return then we aren't going to be able to help you much. Maybe try scratch and win lottery tickets, the odds are about the same.

I hesitate to offer any practical advice to you because you seem to be looking for magic and I'm not a magician. My goals are to earn consistent and realistic returns on my investments, 25% to me is a healthy and fortunate return.

 

i dont by any means expect to "hit it big", but rather something i can jump in with low intial investment and kind of test the waters a bit. you know, warm myself up for whats to be expected.

like youve mentioned in many of your posts, youre going to lose money, thats a given, but at the same time a small return happens too.

 

Are you insinuating something about my advice in this forum, punk?

 

$100 into $6000 - are we talking blackjack or stocks??

Terrible example to make one "interested in online trading" ... like someone on this site saying they spent $100 and got 50hp out of a bolt on .... grain of salt.

Read what cthree and magician have to say and give it a shot. From my perspective $100 won't do you a damn thing, you need at least $1000 to give yourself a shot at anything, probably $5000 to be able to buy good stocks at higher amounts. real "traders" have well over $10 and $20k to peddle with. Much less and you are just not buying enough stock to flip and make money unless you are holding for a while.

Go into the books section and read and learn before you put any of your hard earned money into trading...

 

ill dig into it.

 

Louie - takes money to make money. More you invest, the more you can make. Those expectations inevitably set you up for disappointment. 30% return in the year should make you happy. That's your $100 turning into $130 in 12 months time. Or, your $10,000 turning into $13,000 (approx).

Zecco is pretty good as far as trading for yourself online, for free. No minimum in the account, so $100 is a fine starting point. You can limit your losses by starting small, but gain the experience required before throwing in more of your hard-earned money!

Good luck, chief.

 

thanks Wyatt. i want to start small and then get a feel for it, before i drop 5k-10k on it.

any other adivce?

 

$100 lol

 

hey!