Originally Posted by eastwest2300 (Post 1919544)

I loooove talking about investing & money.. Im gonna like this thread.

Originally Posted by Mr&Mrs (Post 1919571)

I checked all of monkeys stocks (from that day) and alot of them trend together. That is very good, I have 3 that like to do the same thing. They are all within the same industry so 98% of the time you can make money in all 3 at the same time.

The problem is they are very expensive so I can not buy very many at a time.

Also to not be considered a day trader I only make a few plays a week.

I would like to know what everyone here is using for their transactions. I currently use Scottrade.

Originally Posted by birdmanx1 (Post 1919620)

I agree. Day trading works for some but not most. As for me, I wouldn't recommend it from personal experience. I put a huge amount of cash in one of my brokerage account towards the end of last year and earlier this year, made $20,000 in 2 weeks so I figured trading could be a way to generate extra income. The Greeks fear hit the market and poof all $20,000 got sucked right back in the market but I lost another $15000, then $25000, then another $20,000 LOL - it could have been worse, still suck to be cut $60k in the span of 7 months. Thank Goodness, I have a considerable cash reserve and that was a good lesson. I'll make the money back within a few months but not willing to play with stocks on my own anytime soon.

Long story short, be careful if day trading, I think the best way for it is if you are doing it full time and not juggling anything else. Tracking the market while presenting or im meetings and conferences at all times got old quick. Besides, the market seems way too inflated to me at this point, we are back to the 13k range but not for the reasons we should. QE3 announced, ECB bond purchase announced, meaning that for the short term there will be another bounce in market but who knows for how long. Moody's already announced they ll slash our rating further if we didn't get to an agreement.


With the looming sequestration, the nasty political environment (I personally deal with Senators - they battle on even the most remedial issues) I ll probably add index funds to my portfolio and rebalance my portfolio towards conservative end for next year should there be further turmoil - what brokerage firm do you get them from Mike? I do the max for 401k, max for Roth IRAs, mutual funds in place of college savings 529 for my daughter and other investment tools.

Sorry for the book guys, just figured I would share my experience and I'm always interested in investment discussions. Back on my vacation :tup:

Originally Posted by bigdog1250 (Post 1919937)

^ +1 Good financial advice.

And to the guy that said it's smart to have things trend in the same direction... it's not. You have less return per unit of risk, this is a basic diversification principle.

Originally Posted by Mr&Mrs (Post 1920117)

To some extent I agree, but to another i disagree. If I know:

These three stocks move together, one cost X amount, the next cost a lower X amount, etc. I can make different buy in's basically on the same product. Almost like holding a stock that has dropped below your buy in and buying again at a lower rate (of course with hopes) and selling it back on an up day. This offsets a loss or if it goes above your initial buy in, money in the bank.

I do a lot of things not by the book and it works for me. I also happen to work for one of the companies and known when quarters/months/days will be good. If we are making money they are making money. Diversification is best put to use with the intent of an offset to losses. I dont plan on losing nor have I yet on my favorite 3. :tiphat:

To birdman sorry about your hard time. Even an inflated market has great return on day trade style plays. Don’t get me wrong I do long term on lower priced "penny" stocks, but the bulk of my profit has been in and out trades.

I know I will have a lot of people disagree with me, but oh well it is what it is :tup:

Originally Posted by bigdog1250 (Post 1919937)

^ +1 Good financial advice.

And to the guy that said it's smart to have things trend in the same direction... it's not. You have less return per unit of risk, this is a basic diversification principle.

Originally Posted by tibal (Post 1920052)

Great advice! I am going to definitely check out TK.

Originally Posted by Mr&Mrs (Post 1920117)

To birdman sorry about your hard time. Even an inflated market has great return on day trade style plays. Don’t get me wrong I do long term on lower priced "penny" stocks, but the bulk of my profit has been in and out trades.

I know I will have a lot of people disagree with me, but oh well it is what it is :tup:

Originally Posted by eastwest2300 (Post 1921707)

Birdman, I didnt know you were into investing.. we need to get together over lunch and talk about a few things.

Originally Posted by eastwest2300 (Post 1921707)

Birdman, I didnt know you were into investing.. we need to get together over lunch and talk about a few things.

Originally Posted by birdmanx1 (Post 1921794)

Anytime bro, it's one thing I am very much interested into and always have been long before working for one of the largest asset manager. Let's do Dee, we'll exchange tips & what not. In this field, no one has the monopoly of knowledge :tup:

Originally Posted by tibal (Post 1922942)

Can I come?!? :hello:

On a side note finally one of the stock that I have been holding

GUID Guidance Software, Inc.
NASDAQ:

Appears to me in an upwards trend. This has been a 5 year hold beginning at 15>0 and now up to 11+.

Originally Posted by Rui Z (Post 1923006)

Hey Birdman, is that you on Stocktwits with the 370Z Nismo Avatar?

Originally Posted by birdmanx1 (Post 1922994)

Of course Tibal, the more we are the merrier it gets :icon17: Glad you are getting some nice upwards trends on your investments. Again, short term wise, there is great potential for some positive gains; however, it's all hard to factor in what the upcoming election has to do with this, there is usually a Christmas bump. We still don't know what will come out of Greece, Spain, Italy. We still don't know what will come January 1st 2013 (IF THE WORLD DOESN'T END DEC 21 2012 LOL) with the sequestration so... those are things to keep that in mind.

Too many things in this market to make it predictable. Company does well, stock goes down, company does bad stock goes up :facepalm: :icon17:

Originally Posted by Rui Z (Post 1923001)

I just started trading earlier this year. It's been fun. Still trying to decide if I want to be a day trader or swing trader. I currently play mostly biotech stocks.