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I was wondering how many people here play with stocks online. I decided to give it a shot last year. I started out with 12K last October and played around with it all year. (I have no investing experience prior to that) I am happy to say I just cashed in and in a year I turned my original 12K into 26K. I don't know too many brokers that would say they could double my money in a year. So I am pretty happy. It looks like the car and the bike will both be paid off early now. Anyone else have good experiences investing online?
Posts: 52 | From: Michigan | Registered: Sep 2003
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I have done it in the past. Had good luck and bad. If you do it long enough, you will find the bad luck too.
If you have time and are interested in trading, online trading is nice because you are in complete control and the transaction fees and commissions are a lot less than a broker. But you have to be able to research and do your homework. It takes a lot of time. It can be a lot like gambling and, like gambling, it can be addicting too.
-------------------- Mark H.
Whoever said you couldn't run away from your problems obviously wasn't driving an SS. Posts: 942 | From: Santa Barbara and Ventura, CA | Registered: Feb 2000
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I don't dabble in either gambling or trading. It scares me to think I could lose it all. It seems very stressful. I guess I'll never get rich off the stock market, but oh well. :shrug:
Posts: 7198 | From: Near Portland, Oregon, USA | Registered: Feb 2000
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I totally agree with you. That is part of the reason I cashed out. I know the bad will come sooner or later. And now I made enough to do some nice things like pay off my Hawk and my bike so I figured it was good enough for me. Plus I will need some of the money to cover the taxes on it. I was up nearly 18K at one time so I decided it was time to get out for a bit. It is very much like gambling and you do have to be careful.
I will probably do it again in a year or so because I still think I will take better care of my money then any third party I would give it to. But I definitely will not use it as a sole investment or depend on it because I understand it is high risk.
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Man, I could write a huge book write now, as I am a Senior at Penn State going for my Finance Degree. If you do a decent about of research and invest in some low risk securities, then you shoudl have no problem making a decent return on your investment. Investing is NOT gambling whatsoever....that is...unless you have a monkey throw darts adn choose your stocks for you. Also, the past year (or at least after March 2003) the economy has picked up and there has been a shift in what securities and tools investors are investing in. A shift from low risk corporate bonds and income/growth stocks to quality corporate stocks and small-cap stocks means that investors are putting their faith and trust in the stock market.
This past quarter I made 10% alone on my 401(k) and in the past month, made 16% in my Employee Stock Purchase Plan. (Yes, I'm only 22: the earlier to start investing for retirement, the more money you'll save and more years you can compound your returns!) Nevertheless, it's been a good year. If you have money to play with, I would definitely try out some investing, even if it's just some low risk securities to gain your confidence. And remember, over a longer period of time, you will always see a positive return. But I dont feel like explaining that right now.
Moral (ahem...Teri) never think investing and gambling are the same....they arent. Even with a little knowledge on investing and securities to put your money in, you can almost definitely make a positive return, taking into account there are no disasters (e.g. 9/11, etc.).
P.S. What securities were you invested in (you dont have to say if you dont want to) 116% seems quite substantial.
-------------------- 2004 Cavalier LS Sport Coupe Manual,Sunroof,16" Chrome, Zaino!!! http://community.webshots.com/user/pazbich3 Used to Drive: 2001 Camaro SS #3220 Posts: 2651 | From: Enola (Harrisburg Area), Pennsylvania | Registered: Jan 2002
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I was up nearly 18K at one time so I decided it was time to get out for a bit. It is very much like gambling and you do have to be careful.
