Best Resources for Getting Started Trading Stocks?

Discussion in 'Community Discussion' started by MICHAELSD, Feb 18, 2015.

  1. MICHAELSD macrumors 68040

    MICHAELSD

    Joined:
    Jul 13, 2008
    Location:
    NJ
    #1
    Surely there are more than a few Wall Street traders on MacRumors... where do you recommend starting with educating oneself on the market? I've got my RobinHood account ready and with the declining price of Tesla due to their lack of profit in the previous quarter I began my trading journey with 5 shares of Tesla. Frankly at this point I am planning to put the majority of my money in Apple as it is probably one of the more reliable stocks on the market and will likely pay off... I'm just hoping it drops sometime soon as I'll be buying quite a few shares. Wasn't long ago that it was at $110.

    Sure, I may get chastised for this but as of right now I have a plan to trade $2,000 for the sole purpose of the 66 10%-earner trades to a million. Of course I am expecting a lot of ups and downs but the risk-to-reward seems worthwhile. I'm certainly not looking to day trade but through some research it does seem possible over 5-6 years and even if I don't reach the million it should be a valuable learning experience. The rest of my money will be in the more-advocated strategy of purchasing for the long-term.

    Any and all resources and advice from experience traders would certainly help. :D
     
  2. mobilehaathi macrumors G3

    mobilehaathi

    Joined:
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    #2
    Trust nothing on the Internet: best stock advice there is.
     
  3. MICHAELSD thread starter macrumors 68040

    MICHAELSD

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    #3
    Definitely wasn't planning on following speculation.
     
  4. jonpeter macrumors member

    Joined:
    Sep 19, 2013
    Location:
    MI
    #4
    To be honest, practice what makes sense to you.
    I'm a rather young investor (21), but I'm doing quite well for myself, even though my investing logic is highly skewed by typical investment procedures. My diversification is nonexistent, I have all my money in Apple. However, I own Apple products (surprise surprise), the company has developed their own emotionally customer-connected ecosystem, and I like the direction their products are going (albeit a tad slow in technologies and pace of roll out), but overall, I believe in the company. With my small investment, I have made thousands within the last year.

    Again (and simply), research and invest in companies you believe in. I also had Tesla stock for a while, but I did not enjoy the volatility and they are no longer the only electric car manufacturer now. So keep that in mind.
     
  5. mobilehaathi macrumors G3

    mobilehaathi

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    #5
    I'd be more concerned with the advice you'll get that sounds reasoned but may rely on a train of thought that is opaque and possibly seriously flawed.

    Whatever man, good luck trading your $2,000 into $1,000,000.
     
  6. MICHAELSD thread starter macrumors 68040

    MICHAELSD

    Joined:
    Jul 13, 2008
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    NJ
    #6
    Since you've made thousands off of solely Apple (which is what it sounds like), I'd assume you started with a good bit of money. I'm not too far-off from you age-wise but you seem to be doing well so far. I definitely wish I got into Apple after their stock split: those buyers are about to double their money.

    Tesla does not worry me too much. Demand for the Model S exceeds supply, and they have no signs of stagnation. I believe they will have the most appealing $35k electric car on the market as well which will also be on back order for a long period of time. There are a lot of opportunities for significant growth in stock. Nonetheless I would be damned to put all of my money in such a volatile stock even though I don't doubt Tesla's ability to multiply long-term.

    ----------

    Should probably just read Warren Buffett's books on the topic in that case. :cool:
     
  7. mobilehaathi macrumors G3

    mobilehaathi

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    #7
    AAPL's beta is higher than TSLA's beta and both are below 1.
     
  8. MICHAELSD thread starter macrumors 68040

    MICHAELSD

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    Jul 13, 2008
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    NJ
    #8
    AAPL is also considered a blue chip stock.

    Is there a resource for calculating stock volatility/beta or was that off the top of your head?
     
  9. mobilehaathi macrumors G3

    mobilehaathi

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    #9
    You can look that information up pretty much anywhere you look up a price quote.
     
  10. sdilley14 macrumors 65816

    Joined:
    Feb 8, 2007
    Location:
    Mesa, AZ
    #10
    Not really helpful as far as getting educated on trading stocks goes - but for the last month or so I have been taking $150-$250 every week and funneling it into my Options House stock trading account (cheapest online trades I could find, no account minimum). So far I've made $40 in a little under a month. Small peanuts. But I'm not doing it for short-term returns. My plan is to keep funneling money into this account and buying AAPL shares and holding them as a long as possible. Between the Apple Watch, Apple TV (some day), all of the "Apple Car" rumors, developing streaming music services, continued smashing success with iPhone and iPad...I don't see the company slowing down any time soon.

    For me this makes for a nice "savings" account that is kind of fun to keep track of, plus it makes it a little harder to liquidate and use the funds - good for those who don't have the best self control when it comes to savings accounts and leaving the funds alone. :)
     
  11. lowendlinux Contributor

    lowendlinux

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    Sep 24, 2014
    Location:
    North Country (way upstate NY)
    #11
    I use Scottrade because the site is easy to deal with and the information abounds. While reading the information if I didn't understand what was being written I just googled it.
     
  12. heehee macrumors 68020

    heehee

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    #12
    I'm all for high risk high reward. If I'm going to be safe I might as well put it in the bank.
     

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