Any Freepers do online stock trading?

me ^ | 11/21/07

[LouAvul]

I have a couple of acquaintences who claim to be making substantial money off of internet stock trading. I think they specified "etrade.com."

Do any Freepers do this? Pros? Cons? Advice to get started?

thanx

[Professional]

The main thing that moves stocks, is earnings. Show me the money. The other stuff is ST bs. Real money is finding a company trading at less than what it is capable of generating in future earnings. Sounds boring, sorry...

Wouldn’t it be sooooo cool, if we could just look at charts, listen to CNBC, listen to pundits, get richer and richer every single day?!!! F’n idiots.

[Professional]

500 confirms, and you broke even, price for making me go through it all, and account it, priceless....

[kittycatonline.com]

Frankly, you’d make more money, watching CNBC, and doing exactly the opposite of what they say.

I've always wondered if anybody is tracking the trade recommendations these TV bobbleheads make. I'd really like to see how they compare, a chart of how the TV pundits are performing

[Professional]

Yes, you bring up a good point. If they actually were right, trust me they’d have the numbers to prove it. Amazing the claims they make on the Internet, claiming big money, reliable returns. The truth is, they are structured to fall under the right of free speech, so their lies are not criminal offenses. You’ll find that they are set up as information, training only, blah blah blah. Even WS research is a cheat, they claim buy in prices, sell out prices that nobody could actually get. They use those fictitious track records to claim how great they are. I’ll explain if you care to hear about how they do this.

[bruinbirdman]

"I'd really like to see how they compare, a chart of how the TV pundits are performing"

They only chart Kramer.

Remember, it used to be Kudlow and Kramer.

Kudlow is a bond guy.

No commissions for brokers in bonds. Notice you don't see any in depth analysis on bonds? Heck, the only thing you get on CNBC about bonds is a once in a while interest rate and about every 15 min. they flash the price with the rate. Once a week, Munis are never mentioned.

It's always, "So what are you buying?" Then you get specific symbols. If they sell it is always "sectors".

yitbos

[Professional]

CNBC, not a day passes wtihout some in-depth BS about oil, or GOOG. Just makes me wanna puke. How many commodities and stocks, indexes, etc, but those two are just bashed into your skull... That lady on CNBC, in the oil pits, makes me wanna hurl.

Not that I have an opinion on that or anything...

[bruinbirdman]

Oh, no market tomorrow. I should have been paying more attention to this confuser.

My excuse? I am responsible for the turkey, giblet gravey, and stuffing tomorrow for the Assemblyman and his extended family. Been cookin'.

yitbos

[Professional]

4 days, I’m only responsible for eating, and playing some golf. But hey, you have fun with that!

[bruinbirdman]

HangSeng down another 2.3% today.

[Professional]

I think, the chinese market is running the show. They aren’t reacting to us, it’s the other way around. Oh well, that will not last forever.

[VA Voter]

:)

[JerseyHighlander]

Lou,
Here’s the basic requirements to daytrade professionally without a broker’s license:
3 PC’s, 2 high end, the third can be high end or 1 generation behind.
4 to 8 monitors, 22” WUXGA preferred, VESA 100 compliant, and get quality ones, cause your eyes will be on them 12 to 14 hours a day for 6 days a week.
2 broadband connections, 1 telephone line isp connection
1 dedicated telephone line
3 UPS power supplies, rewire your house or office to be able to handle the load.
2 hardware firewall routers
1 very nice desk with a multimonitor rack
1 very comfy chair
about $1200 a month (minimum is $300) subscriptions to news ratings and analysis feed services.
Knowledge of 1 database programming language, linux variant sql preferred.
Several dozen subscriptions to various boilerroom pump and dump newsletters.
http://synergy2.sourceforge.net/
And then you start using demo versions of day trading software and building your databases. You then do months of fantasy trades to build your confidence in your trading system.
But then you also need to know how to translate your trading system into a sql database. You can buy software to get you started, but if you don’t alter it significantly you become a farming target by those who prey upon the newbies who don’t understand the software and start trading on it’s recommendations.
This also presupposes you’ve spent a few years truly learning financial accounting, and some form of analysis, whatever you prefer to trade in 9equities, options, futures, commodities, currencies, etc), and truly are good enough at it to compete against the top 2% of intelligent educated people, and their decades of collective knowledge built into their trading info systems.

So sure, I’m an elitist snob.

Check here for a custom builder for trader systems for trading, then go build your own.
http://www.digitaltigers.com/zenview.shtml?gclid=CKy-3KCO8Y8CFR2HQAod41T2Fw

[shove_it]

Y’all do your thing, I’ll do mine. I’m just havin’ fun makin’ money in my spare time. LouAvul asked for some advice on how to get into trading stocks. I gave him some but a few of you drowned him with cold water. If a dumb-ass like me can make money in the market, so can he/she. What ever works for you, keep it up and God bless ya’.

HAPPY THANKSGIVING TO YOU!!

AND GOD BLESS CAPITALISM!!!

[bert]

Spoken like a sucker primed for fleecing

[petercooper]

bttt