I Need to Learn About Stocks

[5]

I have misread the thread title as "I need to learn about socks."

[ReaperKK]

Hey so here are a few books about currency trading. If you read them, take what you read with a grain of salt, make sure to understand what each indicator is doing and what you're looking at:

Day Trading the Currency Market by Khaty Lien

New Concepts In Technical Trading Systems by J. Welles Wilder Jnr.

Japanese Candlestick by Steve Nison

Also forexfactory.com is a good source of information.

I have to say again that you need to form your own opinion and feel of the the market, you should be able to justify every trade to yourself. A lot of books out there will just say do xyz and you'll make oodles.

[tjanuranus]

Hey so here are a few books about currency trading. If you read them, take what you read with a grain of salt, make sure to understand what each indicator is doing and what you're looking at:

Day Trading the Currency Market by Khaty Lien

New Concepts In Technical Trading Systems by J. Welles Wilder Jnr.

Japanese Candlestick by Steve Nison

Also forexfactory.com is a good source of information.

I have to say again that you need to form your own opinion and feel of the the market, you should be able to justify every trade to yourself. A lot of books out there will just say do xyz and you'll make oodles.

Thank you for this info i will look these up!

[tjanuranus]

Saw as i said yesterday i was going to buy MOTR today because i had a feeling it was going to be a big day...................... 

I had a buy order in at 2.44 once it hit 2.50 to try and get some of the bounce back. It was ALREADY up 20 cents from the close so i wasn't sure where the ceiling was and i didn't want to buy at the high point. Well no bullshit it hit 2.45 then went STRAIGHT to 2.70 then eventually hit 2.94.......................

ARE you F'ing KIDDING ME!!!!!  I missed all that money today and my whole plan for today was to buy this early in the morning. I was going to buy 3500 shares, no margin. So i would have been up 45 cents because i would have a put a trailing stop of 5 cents so it would have sold at 2.90. That's 1500 i should have made today! UGH!

[ReaperKK]

There will always be other trades

[dongringo]

@ the OP, You might be interested in Exchange Traded Funds. They are usually considered much less risky than stock in individual companies. Diversification is still important. Wish I had time to go into detail, but it's a lot to explain. A couple good books to start with are Exchange Traded Funds for Dummies (I know, but it's really good for beginners) and The ETF Book, Everything You Need To Know About Exchange Traded Funds.

[emindead]

As a long term investor, I bought gold stocks in 2008. I would have bought Gold but it's very difficult to do so in my country. Still, the profit I've made is incredible. Sold my stocks and invested in a Canadian mineral exploration group... the shares are even for now (it's also a long term investment).

[tjanuranus]

Made a quick 500 bucks today. Shorted MMI after the big news yesterday only made 100 bucks when i bought Bought to cover. Was surprised there wasn't a lot more sell off but hey a 100 dollar again isn't bad when you are wrong!

Then I saw VVTV was down over 40 percent in the market losers today. Bought on a rebound cause there was a ton of selloff. Made 350 off of that in 15 minutes! That was awesome. Then made another 100 on MOTR again was hoping to make more but i didn't have the stomach to stick with it over night so once i saw I was going to make at least 100 i got out to make sure I didn't lost my earlier gains but damn Etrade costs 10 dollars a trade. So i paid them 60 bucks today!

[tjanuranus]

These pattern day trader rules are such BS. It prevents me from making so much money because now i can't do another day trade until friday! Any way to screw the little guy! Ugh.

[tjanuranus]

Ok here's a tip. NEVER use ETRADE. They f'ing BLOW.

They cost me quite a bit of money today. I had a contingent order that said when the stock went up 9 percent there would be a trailing stop of 2 percent. Well as soon as the market open my stock sold at a wash. And guess what.... the stock went up of course. Along with not being able to short almost every stock i try and 10 dollars per trade no matter what i'm done with these assholes. As soon as i get my account to 10k i'm switching to IB most likely. It's at 9200 right now.

[tjanuranus]

So made another 600 this morning. Bought 300 shares SODA in after hours at 39.89 and sold in pre market at 42.00. Was nice to not  have to deal with the market!

[emindead]

How many stocks can go up when the market is crashing like it's doing this month?

[ReaperKK]

I've been doing quite well with E/U.

It was in a nice and range bound this morning, easy snag of $800

EDIT: w00t! Just reached a milestone in my account

[emindead]

None of you are investing in gold?

[ReaperKK]

I've been wanting to do metals for some time but currencies take up so much of time that I just haven't.

[tjanuranus]

Only 100 away from goal now after using this account for my weekend trip which means I would be over. But I need to pay some bills and I could really use this money to do it. UGH. I need 10k to open the new account and at 9.9k. Bills need to be paid though, so forget it i guess...

Anyway made 300 this morning and 350 on friday. Could have made much more but sometimes i hold a little to long or not long enough and it cuts into my profits. I made a great trade thought to day to make the 300 and a wasted trade to break even which i was up a couple hundred bucks on. I hate the stupid day trading rules because now i wasted one of my 3 day trades for the week.