I currently have a job which requires me to work only about 6 hrs a day. I love it, but get bored out of my mind when I get home at 2 or 3. So I need something on the side to occupy my time. My hobby is making and spending money. On that note I want to do something on the side that can make a few bucks. I know crap about stocks, etc. But the stuff does intrigue me. A friend of mine suggested www.optionetics.com. I am going to start looking at it, but anyone over here tried this program before? Anything else anybody can recommend?
I wouldn't recommend options if you don't know anything about stocks. It's just a quicker way to lose money. Optionetics sounds like diuretic... so that means you're pissing away money.
lol. Agree with Yonkers. Find out what "investing" is before you find out what "stocks" are and how to buy/sell them. Any monkey can buy and sell stocks, but what causes you to buy and sell is more important. And if you know nothing about stocks, don't get started by getting into options. Slap your friend upside the head. Lastly, stocks can be "something on the side that can make a few bucks". But it can also be something on the side that can make you lose a few bucks, too.
it's crap. any program that only talks about how much you can make and doesn't talk about the downside is crap. start reading some books on trading and options first. that is a good way to get your feet wet. learning to trade takes a lot of time and money and it isn't something you should do on the side. if you want to start investing then that is one thing, but trading is much harder, riskier, and time consuming. and yes I am a professional trader. seriously, just start up an account at an online sportsbook. it will be more fun.
Anyone want to recommend a website or book for a complete noob? I prefer books, as I can't sit in front of a computer for too long. I have no wish to be a "trader". Just want to start off by investing a little bit and maybe making a few trades here and there.
well for investing I have liked the motley fool books. their website is fool.com and they offer pretty good fundamental advice that is easy to understand. after that I would start looking at investors business daily. it is a great newspaper to read for investing with stop losses and trading. it is slightly more advanced but it gives you info and charts and how to protect profits and ride trends. the guy who started it is named william oneill and he has books out as well. you can pick up IBD at barnes and noble or borders books. let's see there is also peter lynch who is great to read. great investor and he presents the info clearly and in a down to earth manner. for other chart/trading related stuff I would just look at a 'Getting Started in Technical Analysis' book. hope those help get you started.
im halfway through peter lynch's "one up on wall street" its great for getting started in the stock market - extremely practical advice, read the reviews on amazon
I wouldnt buy options/futures etc if I am not an expert at shares already Shares trading is difficult, however I believe that if you are above average in terms of smartness, do your research regarding the firm, industry and economy then you can definitely make a profit above the interest rate which banks give you I would use value investing as oppose to growth investing, althought i would invest in one or two growth stocks and hope for the best
