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<blockquote data-quote="kingOFchester" data-source="post: 1197676" data-attributes="member: 11246"><p>1) Do not get investment advice from the internet.</p><p></p><p>2) Do not get investment advice from truck drivers.</p><p></p><p>3) Do not get investment advice from strangers.</p><p></p><p>4) Do not get investment advice from truck driving strangers on the internet.</p><p></p><p>Now for some advice from a stranger who is a truck driver who posts on the internet. To buy and sell stocks, you should understand P/E multiples, volume, dividends, ex-dividend dates, earnings history, balance sheets, 10-K and 10-Q, how to read charts like a Moving Average Convergence Divergence and on and on. Once you understand that, you will need to apply that to the company you want to buy and then their competitors. You will need to dedicate a minimum on 1 hour a week for every company you own.</p><p></p><p>If you really want to get into buying, start with and ETF like SPY. You are able to buy and sell these like stocks, but not as risky as buying one company. Once that is well funded, have some play money that is just a small portion of your nest egg. Use that to play with. Just make sure you are buying 3k minimum per company. If not, the trading fees will hinder your success. Even if you only pay $7 per trade, that equates to a total of $14 to get in and out of one purchase. So you buy 1k worth of XYZ, you will be down 1.4% right out of the gate between the $7 to buy it and the $7 to sell it. Not sure about you, but I do not want to be down 1 and a half percent before any movement of the stock price.</p><p></p><p>My home office looks like a crazy UPS managers office. Got the whiteboard that I use to keep notes on stocks that I am watching, spread sheets stuck to it, pie charts from everything like how my money is distributed between accounts to how much stock in any given industry to insure diversification. Earning dates listed and all kinds of crazy stuff. But its my hobby.</p></blockquote><p></p>
[QUOTE="kingOFchester, post: 1197676, member: 11246"] 1) Do not get investment advice from the internet. 2) Do not get investment advice from truck drivers. 3) Do not get investment advice from strangers. 4) Do not get investment advice from truck driving strangers on the internet. Now for some advice from a stranger who is a truck driver who posts on the internet. To buy and sell stocks, you should understand P/E multiples, volume, dividends, ex-dividend dates, earnings history, balance sheets, 10-K and 10-Q, how to read charts like a Moving Average Convergence Divergence and on and on. Once you understand that, you will need to apply that to the company you want to buy and then their competitors. You will need to dedicate a minimum on 1 hour a week for every company you own. If you really want to get into buying, start with and ETF like SPY. You are able to buy and sell these like stocks, but not as risky as buying one company. Once that is well funded, have some play money that is just a small portion of your nest egg. Use that to play with. Just make sure you are buying 3k minimum per company. If not, the trading fees will hinder your success. Even if you only pay $7 per trade, that equates to a total of $14 to get in and out of one purchase. So you buy 1k worth of XYZ, you will be down 1.4% right out of the gate between the $7 to buy it and the $7 to sell it. Not sure about you, but I do not want to be down 1 and a half percent before any movement of the stock price. My home office looks like a crazy UPS managers office. Got the whiteboard that I use to keep notes on stocks that I am watching, spread sheets stuck to it, pie charts from everything like how my money is distributed between accounts to how much stock in any given industry to insure diversification. Earning dates listed and all kinds of crazy stuff. But its my hobby. [/QUOTE]
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