Since I have never traded a single stock ever I just bought one share to get my feet a little damp and see what happens. I trade with a company called Robinhood that doesn't do shorts yet but gives free trades so I'm only risking my 5 dollars seeing if I'm holding what I learn or need to go back a bunch.
I would advise staying away from robinhood there executions are terrible once you really get into the actual trading.
Just a newbie but Sykes has warned against shorting earnings winners: bad risk/reward.
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I've ordered stocks for dummies, penny stocks for dummies and another reference guide off amazon already and I'm waiting for those to get here. Do you think the books are a good place to start? Because it's hard watching most of Conor's videos and not having a base knowledge about investing especially all the vocabulary. So would it be worth while to read those through then buy the movies? @ftmanglona
sorry for the late reply man. I personally think that the DVD material is better than books because you can see hindsight what's going on with real stocks. Usually books dont cover penny stocks the way the instructional DVDs are meant to.
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Start off by youtubing the free material. Look at video contents posted nightly from Tim. DO NOT start trading out of the gate, you will not win. There are strategies that have been time tested and proven that work. You will take a long time to fully grasp those strategies, so study your ass off. First DVD to buy is How to Make Millions. It has everything you need to get started, it'll answer 99% of your questions.
Everyone else who will comment on your blog will tell you to buy How to Make Millions as well, that i can guarantee. There are new traders that come here every day and ask the same things. So step 1 is to buy education. Don't even worry about funding a trading account yet. I'm getting more education from my new $800 account than i have on my first etrade account.
@ftmanglona i did just buy stocks for dummies, penny stocks for dummies, and a penny stocks reference guide that i am waiting to ship from amazon. should i buy his movie anyway or is it worth it to wait read the books and build a good strong base of knowledge, or is the movie very self explanatory?
im sorry to say this but you were misinformed about which material is right for this type of application. I also have stocks for dummies, it pretty much warns agains't trading penny stocks. BUY THE DVD. There's no way of getting around it. You're going to be confused as to what everyone in the chatroom is talking about and why they bought xyz. This type of pennystock trading is different than most books will teach you.
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@Akpilot1_ just became a fully transparent trader today!
Second that. There's a lot on Tim's Youtube channel if you look for it. Trader checklist is also free on Tim's YT channel. Be very systematic about going through the resources you already have. It's very easy to be overwhelmed with too much information at hand. Instead, stick to what you've currently got, make sure that you go through it thoroughly, and then you'll have a better idea of what you can start to look at next.
Great questions...most importantly you should look at this as a journey. Most of us start as you are, therefore TIME is the real answer on the journey as you live life, pursue your primary goals (pay bills!) and move along with the resources at hand. The htmm dvd is one of the best at laying it all out. Memorize it. Utilize all the free sources suggested, build an account, trade small, get connected to chat, charts etc. Good Luck on your life's journey.
study study study all you can - save up money and start very small
Penny stocking silver subscription during holiday sale is a good value. I am on it ans not even half way through all the videos yet....
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