Where to begin?

[runninrebel12]

I have no experience whatsoever with stock investments and am lost at where to being initially. I've been saving a ton of money over the past couple months and would like to start a profitable portfolio.I would like to allocate a set amount say $1000 - $2000 to just start learning how everything works.

What site would you guys recommend to start on? Any books to read? Advice? Things you wish you knew in retrospect?

I am just so hesitant to enter this market but feel like my money is just stagnant. I opened a Roth IRA this year and am contributing towards this, but otherwise, have no investments. Any other investment ideas?

 

[SpreadDestroyerr]

Short the broad market and go long precious metals, agriculture, and oil.

 

[manunitedfan23]

i dont know where to start out too. iv got a bit of money saved up and would love to find out some good books to read

 

[manunitedfan23]

and some tips would be handy

 

[tanner12oz]

i wouldnt play with anything high risk since your inexperienced....keep an eye on patterns, charts and volume...learn whats bullish and whats bearish in the patterns, chart and volume...just pick something your interested in and watch it like a hawk for a few weeks (like daily)....youll begin to notice patterns and what might make a good entry and exit point....go from there...

 

[manunitedfan23]

thanks for the tips

 

[manunitedfan23]

a few people iv spoken to have said follow a few companies for up to a year. is this necessary?

 

[manunitedfan23]

and r there any good books around?

 

[erwinmark]

Peter Lynch is a good way to start. One Up on Wall Street.

 

[DeathEatsaCracker]

and some tips would be handy

Add CNBC to your list of blocked channels.

 

[tanner12oz]

a few people iv spoken to have said follow a few companies for up to a year. is this necessary?

ok heres what i do....

i look at a multiple charts for a company...example PULTE HOMES

if you look at the 1 year chart youll notice that the stock hit almost exactly $8 dollars four times. that was the low...that was support. from the 8$ mark it ran up to around the 13$ level each time...over a 50% move....if you look at the 2 year chart the same kinda idea shows up...4 lows in the $8-$9 dollar range with 50% rallies quickly following...

i believe this is called "channeling" but im not sure. i have a list next to my pc of a handful of companies that have simlar charts with entry and exit points marker...i buy when they hit the target and sell when they hit the target. if you stick to your data and dont fall in love this can be a pretty good way to play the market.....if anyone wants to chime in and call me an idiot feel free to do so

 

[manunitedfan23]

Peter Lynch is a good way to start. One Up on Wall Street.

thanks

 

[manunitedfan23]

Add CNBC to your list of blocked channels.

will do

 

[manunitedfan23]

ok heres what i do....

i look at a multiple charts for a company...example PULTE HOMES

if you look at the 1 year chart youll notice that the stock hit almost exactly $8 dollars four times. that was the low...that was support. from the 8$ mark it ran up to around the 13$ level each time...over a 50% move....if you look at the 2 year chart the same kinda idea shows up...4 lows in the $8-$9 dollar range with 50% rallies quickly following...

i believe this is called "channeling" but im not sure. i have a list next to my pc of a handful of companies that have simlar charts with entry and exit points marker...i buy when they hit the target and sell when they hit the target. if you stick to your data and dont fall in love this can be a pretty good way to play the market.....if anyone wants to chime in and call me an idiot feel free to do so

thats really interesting so hypothetically u can keep doing this over and over again making profits. will definately check this out. thanks

 

[manunitedfan23]

CNBC is an awsome website