I opened an Ameritrade account. Gonna try a bit of day trading. Probably not every day but maybe do trades over the month and see if I can make a bit of a gain. Anyone else doing this or want to do this?
We have a financial adviser who does it all for us. We invested a big chunk with them about 10 years ago and it has doubled. The key is to think long term and not pay attention to the day to day, hour by hour.
I don't trust myself with day trading. But, just like going to a Casino, only bring enough to the table that you can afford to lose. Stock market is only for long term.
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Sometimes you're the windshield, and sometimes you're the bug.
I have dabbled in the stock market (both NYSE and in Japanese stock exchange) for years and have made some money over the years. My first "real" job was with Dean Witter and Company in the back office. One of the employees told me - If you want to invest in stock, you have to realize that it is money you can afford to throw away. I think this is still good advice. If you want to go it alone you need to do some research into what you are buying and not get into the excitement of certain stocks rapidly rising. If you have an advisor that is good, but it kind of takes the fun out of it. Long term investment is always the best...
My guy has instructions to play it safe. Nothing too risky. I made a good bit of money last year. I wouldn't mind taking a few hundred and playing with it in the stock market myself.
Also, if you are going it alone, knowing when to sell. Set a price you want and, when it hits that, sell. Do not wait for another buck, etc., as you may end up crying. Can't always sell at the top price but as long as you made some money and got the price you wanted you should be satisfied.
