Stock Trading Mentor Needed - Poor College Student
Hi.
I am a poor college student and in need of money.
My parents told me to work so i can help out with mortgage...
they are having financial issues..
but i don't wanna work because i am full time college student.
so.. i have about 5G right now .. which was money i put aside to buy a car.
I wanna look into stock trading.. but i don't know anything about it.
i know a lot of you guys are business folks and very well established.
Maybe some of you guys are even a season stock trader..
i was hoping if you can mentor me or give me some tips on what stocks
to buy and sell.. hoping we can do this over chatting sometime..
could anyone help me?
Absolutely DON'T take stock advice from a stranger. Seriously. In your position I'd suggest going into your local bank and talking to some of the investment bankers.
In the meantime, do some googling for ramping and other stock terms.
Seriously - don't take buy/selll advice from a stranger on here. No offence to anyone here intended.
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Always read stuff that will make you look good if you die in the middle of it.
Absolutely correct Howard.:approve:
Sfbong 5K might be a lot of money to you but in terms of putting into the stock market it is nothing. ONLY gamble (A gamble is what you are taking with stocks and shares) what you are prepared to loose and I dont think you are prepared to loose this money.
I understand you dont want to work know - but that is the best and safest way for you to earn money and trust me you will feel good about contributing to your families finances-(And who knows you might be able to save enough to get yourself that wonderful car you are after):approve:
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id look at something like a mutual fund you are not going to double your money overnight with it like if you had bought google during their IPO. but i have some money in a Franklin Templeton mutual fund called Tesix. It is a mix of government bonds, and stocks of undervalued companies in the tech and service sectors. im getting about a 6% return on my money. it isnt great, but its better than what you would get in the bank.
Only invest in the market what you can afford to lose. Stock market investment is for the long term. It seems that you cannot risk the $5k you have saved up as the only way you can make alot of money in the short term is to take risks such as options or futures trading.
In line with what others say, never take market investment advice from anyone, especially strangers. Search the term "pump and dump" on google.
I would think someone in college would be smarter then to risk their money in the stock market. Why can't you work part time. And if you say, I do not have the time, you better back it up with an hour by hour itinerary of what you are doing... there are also grants and loans can receive via your school.
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Ok so then.. how could i make money without really spending 20~30 hours a week earning 7.50 at starbucks..
no offense to people working at starbucks but for college student who doesn't have a lot of money spending 20 to 30 hours for minimum wage is not really an option for me cuz i would be exhausted and wouldn't wanna study after that.
any good ideas to make money ?
i know this is a difficult question for all of us.
i was looking at MSN money http://moneycentral.msn.com/content/P121113.asp
and there it said
"The concept is simple. Buy sell-rated stocks and hold them until their ratings improve, and then sell"
its called "contrarian strategy". It sounds crazy but buy the stock when experts indicate 'sell'. because by the time news had spread most of negative impact is already absorbed therefore it will soon ride it out as long as its a reputable company. And it goes and actually helps you pick from 10 stocks according to its strategy. It even gives free MSN sreening tools to do this !
What do you guys think ? is this crazy ? i mean it comes from MSN person so he must know what he's talking about? could you guys read this and tell me what you guys think about this ? thanks.
Are you prepared to loose your money!!!!
YES - then either give it to the homeless or throw it away on the stock market-you want to put your money in for a short period and try to get big profits - you will loose money this way.
NO - find yourself a job or come up with an idea or product that people or companies will want
I think you will have to find yourself a job. It doesn't have to be starbucks or macdonalds - think of what you are interested in and apply to companies in that line. I'm sure you dont have to make a lot of money to keep your parents happy - they just want you to help out and realise the worth of money.
By trading stocks the self proclaimed POOR STUDENT will become a BROKE STUDENT!
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id look at something like a mutual fund you are not going to double your money overnight with it like if you had bought google during their IPO. but i have some money in a Franklin Templeton mutual fund called Tesix. It is a mix of government bonds, and stocks of undervalued companies in the tech and service sectors. im getting about a 6% return on my money. it isnt great, but its better than what you would get in the bank.
Have to disagree here, the reality is in about 80% of the funds, the only one that makes any money is the fund manager, plus many have very high liquidation fees, if you don't keep your money invested for a certain period of time. Funds that will make you money are much harder to pick than stocks. There are baskets of stocks you can buy called ETFs that have much lower costs than funds and are easier to get into and out of. The only problem with them is the spreading of the risk across a basket of stocks also significantly reduces your potential return.
Now as for what you really should do. Someone in your position has no business putting money they expect to need in the very near future in the stock market to begin with. Stocks fluxuate both up and DOWN and it is easy to get caught having to sell at a very inoportune time. You can do much better with money market funds, since short term rates are expected to continue rising in the near future, or laddered CDs that will mature coincidentally with your expected requrements for the money. I know you won't get rich fast with this approach, but think about what shape you'd be if you lost all or a substantial portion of your 5k, which is a very realistic possibility in the stock market.
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ONLY gamble (A gamble is what you are taking with stocks and shares) what you are prepared to loose and I dont think you are prepared to loose this money.
