Brand New Investor Needs Advice

[SteeleJester 10]

I'm 22 years old and have decided that I would like to be actively involved in trading after landing a new job that has provided the means to do so. I have a retirement account at work that I can put money into, but I believe I have a heck of a lot more time to be more aggressive than the 50 and 60 year olds they're leading into retirement. I've been doing a lot of reading just to develop a better understanding and hopefully be able to manage my investments both responsibly and effectively. I had almost opened an account with Edward Jones, but at the behest of the folks here, decided the fees and such would be unwise. So I opened up a discount brokerage account to manage my own account. I wish I could have gotten in sooner, however differing expenses going along with moving twice affected that negatively. I'm now in a position that I can invest a decent amount per month into this new account. I've made a few purchases after doing some research and maybe a slight rush to get while the going is good and if not, I'm up for the risk and the long haul. These are my current purchases thus far. This rookie appreciates the help.

 

DBJP - 23%

DXJ - 19%

VOO - 33%

TRP - 25%

[henryduncan12 10]

I think if you not getting any idea what to do at this position i would suggest you to consult good broker with relevant experience he will assist you in right direction in forex investment.

 

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forex trading account

[Mysticforex 13]

I'm 22 years old and have decided that I would like to be actively involved in trading after landing a new job that has provided the means to do so. I have a retirement account at work that I can put money into, but I believe I have a heck of a lot more time to be more aggressive than the 50 and 60 year olds they're leading into retirement. I've been doing a lot of reading just to develop a better understanding and hopefully be able to manage my investments both responsibly and effectively. I had almost opened an account with Edward Jones, but at the behest of the folks here, decided the fees and such would be unwise. So I opened up a discount brokerage account to manage my own account. I wish I could have gotten in sooner, however differing expenses going along with moving twice affected that negatively. I'm now in a position that I can invest a decent amount per month into this new account. I've made a few purchases after doing some research and maybe a slight rush to get while the going is good and if not, I'm up for the risk and the long haul. These are my current purchases thus far. This rookie appreciates the help.

 

DBJP - 23%

DXJ - 19%

VOO - 33%

TRP - 25%

 

 

 

Or, you can take a look at these folks. They are "Introducing Brokers" and deal with 30+ brokers. They make money from the broker, not from you. I have known them personally for about 5 years. Contact and they can make some recommendations based on amount of capital, risk appetite etc.

 

 

 

Cash Back Forex Rebates | Highest Rates | Best Forex Brokers

 

 

BTW: on the site one of the owners, Ralph Shell, has an excellent blog based on fundamentals. We are trying to get it syndicated here.

[tmcpherson 10]

Hello I am a 20 year old investor who just started this year as well, I follow a great twitter account that basically guides all of my trading for me and has gotten me up about 62% this year. What are you using to do your trading?

[Mysticforex 13]

Hello I am a 20 year old investor who just started this year as well, I follow a great twitter account that basically guides all of my trading for me and has gotten me up about 62% this year. What are you using to do your trading?

 

At 62% YTD it does not sound like you need the help of anyone here.

 

I hope you don't expect us to ask for the name of the Twitter act you follow, I would delete it.

[tradingwizzard 10]

At 62% YTD it does not sound like you need the help of anyone here.

 

I hope you don't expect us to ask for the name of the Twitter act you follow, I would delete it.

 

not the 62% is important but if it can be reached on a constant basis.........one hit and run I've seen enough

[JayPrime 10]

62% nice! I'm 25 and I made my first trade last Wednesday and I posted my positions in my other thread. I turned $35000 into over $50000 in just the last few days. My first trade was last Wednesday.

 

That said, I got very lucky with the timing. What has happened so far is what I considered to be a likelihood of less than 10% (due to the timing). Overall, I had confidence in my trades because I knew the price of gold is going up. I just wasn't sure if it was going to putter around for the next few months before doing so. It looks to me like it will be heading back to around $1400 an ounce over the next few months.

 

So I'm actually going to hold my positions for a little while longer until gold tops $1350 or until I see a major indicator that it is not going to reach $1350 any time soon.

 

I'm trading options of course, with some stocks that track gold.

 

My advice. Never trust anyone else with your money. Learn as much as you can RIGHT NOW because you are still young and the knowledge you learn about the markets right now will pay dividends over the course of the rest of your life. Don't entrust some fool with your money when you are at the optimal age to learn yourself and make lots of money in the future.

 

Even if you take some losses while you are learning, you'll make it all back and then some in your future if you keep working at it.

 

I won't give you advice about trading because I'm brand new, and my recent victories are mostly luck. But the advice I gave you is not about trading. It's about life. And if you ever want to retire early, the odds are against you if you entrust your money to someone else to decide what to do with it. Even if they are brilliant, they are quite restricted in what they can really do for you because they can't take the risks you can.

 

And about the twitter channel. I'm glad it has worked well for you so far, but take a step back and think about WHY it has worked. You might realize that it has potential to reap you far more profits, or that it has just been lucky so far.

 

Best of luck!

 

That's my $0.02.

[tradingwizzard 10]

 

so you knew gold was going up, and you had confidence in your TRADES even this was your FIRST one as you said........hmmmm....am I missing something? #bullshitpotential

[JayPrime 10]

so you knew gold was going up, and you had confidence in your TRADES even this was your FIRST one as you said........hmmmm....am I missing something? #bullshitpotential

 

Sorry if it sounds confused! In reality I made more trades after my first trade. I posted my positions. I would consider them trades in plural as opposed to all just one trade.

 

Or am I wrong?

 

Thanks

[tradingwizzard 10]

Sorry if it sounds confused! In reality I made more trades after my first trade. I posted my positions. I would consider them trades in plural as opposed to all just one trade.

 

Or am I wrong?

 

Thanks

 

no no .......I was just wondering

[gavind 11]

By the way, for cases like this, are there any experienced traders out there that can guide a newbie for a cost. I guess I wanted to know the ball park figure to this.

[Ammeo 10]

I'm 22 years old and have decided that I would like to be actively involved in trading after landing a new job that has provided the means to do so. I have a retirement account at work that I can put money into, but I believe I have a heck of a lot more time to be more aggressive than the 50 and 60 year olds they're leading into retirement. I've been doing a lot of reading just to develop a better understanding and hopefully be able to manage my investments both responsibly and effectively. I had almost opened an account with Edward Jones, but at the behest of the folks here, decided the fees and such would be unwise. So I opened up a discount brokerage account to manage my own account. I wish I could have gotten in sooner, however differing expenses going along with moving twice affected that negatively. I'm now in a position that I can invest a decent amount per month into this new account. I've made a few purchases after doing some research and maybe a slight rush to get while the going is good and if not, I'm up for the risk and the long haul. These are my current purchases thus far. This rookie appreciates the help.

 

DBJP - 23%

DXJ - 19%

VOO - 33%

TRP - 25%

 

Seems u have taken a nice start. I cant advice much bt only thing i wd tell is to keep urself away from hyped and manipulated stocks or any asset as much as u can. Better start investing in blue chip compnies as they r much much stale and have a better chance of giving healthy (if not much) returns.