/biz/ - Business & Finance

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Anonymous Mon Mar 16 01:52:08 2015 No.687120 [Reply] [Original]

So where do I start /biz/?

Books, people, /biz/, all that jazz.

When /biz/ was created I played the fake stock game and did pretty well. I want to actually start becoming successful in the market, but I have no idea where to start. Do I look for a mentor? Do I buy stock advice books (which is a bad idea but I gotta ask)? Where did you stock pros start out?

Anonymous Mon Mar 16 02:16:56 2015 No.687130

I started out from a coworker. (I'm 22). He's 53 and a veteran in the stock market. I say find a mentor and they can explain to you everything from knowledge and experience. I started with simple info (candle readings, P/E ratios, MacD, and so on) then he got me reading books from Jim Cramer and books that told stories from Jessie Livermore. Always always use money that you can afford to lose and never buy on impulse. Now I've been doing this since January and I've been doing really good. He calls me a young Jesse Livermore but in reality I just want to make profit. If it's 30$ or 2,000$ it's all profit. So just maybe find a buddy and read read read. Don't do practice accounts they will teach you not to be careful. Real money will make you think harder. I opened my account in October 2014 and made my first trade January with Goldcorp and made a nice profit. Best of luck. I hate Jim Cramer but his book is good "real money". Also don't buy anything that is on tv magazines websites or forums. Most likely it will do the opposite. Always do your own homework and read.

>>	Anonymous Mon Mar 16 02:24:40 2015 No.687133 >>687130 Thanks man, I really do want to find a mentor. A teacher I had a class with for a bit in high school was a millionare off the stock market, guy knew what was up. I just need to find a mentor to guide me.

Anonymous Mon Mar 16 04:36:50 2015 No.687180

>>687120
Of course you should always have a mentor in any trade or skill in life.

But until you find someone who has the free time to guide you (don't settle for anyone), you have to find a good resource.

At this point in the market, and I assume with your limited capital, you should look into options. I have to admit, I work for the company, but check out Tastytrade. Tom Sosnoff taught me everything I know about option and stock trading and he makes it very easy to follow along in the archived blogs and videos.

Besides that, I also went to my local library and took out a very preliminary book on volume analysis so I could pick out trends. At 25, I feel like I know more than most at 40.

>>	Anonymous Mon Mar 16 05:28:25 2015 No.687193 File: 226 KB, 1280x863, Syd_Mead_Credit_Subscription_Commuter_Cars_1970.jpg [View same] [iqdb] [saucenao] [google] >>687180 Could you recommend any books?

>>	Anonymous Mon Mar 16 07:45:14 2015 No.687241 File: 25 KB, 300x227, 1423973559001.jpg [View same] [iqdb] [saucenao] [google] >>687180 >with your limited capital, you should look into options

>>	Anonymous Mon Mar 16 15:41:09 2015 No.687752 >>687180 I feel like I'd do best if someone took me under their wing and mentored me, but I will look in to what you said.

Anonymous Mon Mar 16 17:27:50 2015 No.687892

Sup /biz/exuals. I too would like some basic info. Is there some kind of /biz/ sticky equivalent, or a trading/investment 101 somewhere?

Basically, I have a moderately decent job with good promotion prospects which I'm not willing to give up but I'd like to do some investing or basic trading on the side.

>>	Anonymous Mon Mar 16 19:25:37 2015 No.688050 OP here Do you guys think it would be unethical to go back to the business teacher who knew his shit and ask him for help?

>>	Anonymous Mon Mar 16 19:29:50 2015 No.688061 >>688050 How is that unethical? Im not following your reasoning...

>>	Anonymous Mon Mar 16 19:50:40 2015 No.688097 >>688061 Seems like kind of an asshole thing to do. Just waltz in after a year and a half and ask for help. I only knew him for like 2-3 months.

Anonymous Mon Mar 16 20:06:46 2015 No.688115

If you actually want to do it, you'll find a way. Tastytrade is an awesome resource I've found, which was mentioned earlier.

Hotstockmarket.com

Bigmiketrading.com

The thing about getting a mentor, is just realize for you to be a successful trader you have to cater your trading to your personality. There are enough forces you have to fight in the market, if you start fighting yourself too you will absolutely lose. I've been researching off and on for 5 years, so I know what I would want out of a mentor. However if I knew nothing, I would be hesitant of a mentor other than just gaining basic market knowledge.

>>	Anonymous Mon Mar 16 20:13:07 2015 No.688120 >>688115 I'm currently on my phone, but could you explain more in detail on what those sites are? Are they like books or videos or what?

Anonymous Mon Mar 16 20:21:09 2015 No.688128

>>688120
Tastytrade has tons of media on varying trading topics.

the other two sites are trading forums that have large commonuites of traders that will provide better information than /biz. If you are actually interested in this stuff, those three websites should get you started on your way to figuring what sort of trader you want to be and provide all the basics on a number of different things related to trading.

Please keep in mind that there will be subforums dedicated to penny stocks. Stay away from those. Every rookie trader thinks they can make money of pennys, or OTC stocks. Just don't waste your time.

>>	Anonymous Mon Mar 16 21:38:50 2015 No.688197 >>688128 >>688128 Interesting. I'll probably ask my former teacher to mentor me, and if he says no i'll base everything off those sources, and if he says yes ill still use those sources. Thanks anon

>>	Anonymous Mon Mar 16 22:34:29 2015 No.688276 File: 936 KB, 1345x1450, image.jpg [View same] [iqdb] [saucenao] [google] >>687193 There you go faggot

>>	Anonymous Tue Mar 17 00:21:26 2015 No.688406 >>687180 >you should look into options Aren't options those things where you could lose not only your initial investment, but potentially even an unlimited amount?

Anonymous Tue Mar 17 00:46:36 2015 No.688430

>>688115
>>688128
>>688197
I've come across these before. I'd take them with a pinch of salt, about as much salt as I brought with me to /biz/.

I use them to find interesting businesses to research and keep up to date with internet chatter but I don't treat their word as gospel. Though that fat guy from tastytrade with his 90s fashion beret is kind of weird, I watched a video of his about contango and it was quite informative back in November, so I suppose he might be useful.

Every book and every site you've been to has already been seen by people who are more intelligent than you, have more experience and can price in any trade before you have an opportunity to. The only feasible means of beating the market is "original research", doxing executives, borderline insider trading, using expertise that only you possess or whatever advantage you have. Other than illegal means of obtaining information I believe I have good critical thinking skills, even the experts I think have a tendency to stick to tried and tested methods rather than treating every new line of research as a new learning experience and developing new ideas, I don't leap to conclusions and just drink in a lot of information about a product or some deal that is going through, only when I have reasonably exhausted everything I can learn do I start to try and draw conclusions. 9 times out of 10 I discover the market is about right and there are no opportunities but occasionally the market has made a mistake that will likely correct itself.

>>	Anonymous Tue Mar 17 00:54:08 2015 No.688437 >>688430 Should I even bother if I don't have insider info and shit? I just want to learn about this business, make a little money, and jump start my life, ya know?

Anonymous Tue Mar 17 02:29:16 2015 No.688496

>>688437
It is unlikely to jump start your life. Even if you beat the market and get 20% returns annualized, with your low startup capital this isn't going to amount to much to begin with, but you are unlikely to die poor.

If you wanted to jump start your life the most feasible route would be more along the lines of starting a business. If you have been programming flash/java since you were 14 or something you could dedicate yourself to this more, explore lots of different ideas, try to monetize something that becomes popular. I suppose you could do the same with investment/finance as well, though you would need to get a degree in economics/finance, get your series 7, CFA and whatnot, before you can start offering your services professionally. It takes time to become really successful through this route and there is a lot of competition. You might just end up in the cubicle working for someone else.

Whether you start a successful business or save a small surplus with a regular career, you will want your investments to go as far as they can without taking any excessive risks or making any huge mistakes. It is worth trying to develop an interest in finance, learn about options, black scholes and whatnot, trade paper (better to make your first mistakes with imaginary money), then when you have a surplus you should at least be able to fill a 401K with sensible ETFs, bonds, dividend paying stocks and a few well researched value stocks.

On top of this there is a small chance that you might actually discover you have a talent in some area and achieve some significant success, but of course if you don't have much startup capital it will take time before you can turn this into huge gains.

Anonymous Tue Mar 17 02:34:26 2015 No.688500

>>688496
I just don't know what to do with my life.

My goal isn't to become some kind of billionaire, I just want to be able to have enough money to live the life I want. Maybe I should just go with my first choice of being a paramedic, at least then I'd be doing something I like, but I wouldn't be making good money.

>>	Anonymous Tue Mar 17 06:11:54 2015 No.688600 >>688430 i saw in the darknet, some hacker got admin priviege in a lots of firm. it could be helpful for insider trading?

Anonymous Tue Mar 17 06:50:00 2015 No.688610

>>688276
https://thepiratebay.se/search/intelligent%20investor/0/7/0
https://thepiratebay.se/search/security%20analysis/0/7/0
https://thepiratebay.se/search/like%20a%20virgin%20richard/0/7/0
https://thepiratebay.se/torrent/6239239/E_M_Goldratt_-_The_Goal.pdf
https://thepiratebay.se/search/why%20smart%20people/0/7/0
https://thepiratebay.se/torrent/6375351/Risk_and_Asset_Allocation_[ak]
https://thepiratebay.se/search/irrational%20exuberance/0/7/0

>>	Anonymous Tue Mar 17 17:12:51 2015 No.689158 Nintendo just got a massive increase after their Mobile announcement, invest and buy a share http://finance.yahoo.com/echarts?s=NTDOY+Interactive#{%22range%22%3A%226mo%22%2C%22scale%22%3A%22linear%22}

>>	Anonymous Tue Mar 17 18:18:28 2015 No.689239 >>689158 >PE of 66 >revenues the lowest in 4 years no

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