anyone trade stocks at home? - Mothering Forums

Forum Jump: 
 
Thread Tools
#1 of 16 Old 01-12-2008, 02:14 PM - Thread Starter
 
newmainer's Avatar
 
Join Date: Dec 2003
Location: midcoast Maine
Posts: 1,582
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
ok- i'm not sure if i put this in the right place and maybe i'll cross post in working mamas forum-

but i was thinking lately that maybe i could do some self-education around stock trading and... play a little. not like day trading and executing millisecond trades, but starting with a few hundred bucks, always saving any profits and just seeing where it goes.

if anyone is doing this- i'm looking for educational resources; web, book, etc...

I am a homeopath, offering acute and constitutional consultations for children, babies, and parents. Long-distance treatment is easy, either phone or skype! I also am certified to offer Homeoprophylaxis, a vaccine-alternative program. Message me for more details. www.concentrichealing.com
newmainer is offline  
#2 of 16 Old 01-12-2008, 09:48 PM
 
traycanadian's Avatar
 
Join Date: Jul 2004
Posts: 391
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Hope you don't mind if I sub to your thread! I'm interested too. I keep seeing infomercials and ads for services like Investools and wonder if anyone uses them successfully or does it on their own.
traycanadian is offline  
#3 of 16 Old 01-12-2008, 11:50 PM
 
Billie's Avatar
 
Join Date: Apr 2006
Posts: 403
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
I'm subbing too. Back when I was in high school, I was in a small group that worked together to research stock options, but then I got into sports and didn't have the time anymore. I'd be interested in hearing from someone who is doing this.
Billie is offline  
#4 of 16 Old 01-13-2008, 12:11 AM
 
selendang's Avatar
 
Join Date: Jul 2006
Location: Canada
Posts: 145
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
I don't, but I know those who do. They do their homework so they don't lose too much. Even so, sometimes you just never know. I'm way too chicken to do this. Good for you Mamas who are so brave!
selendang is offline  
#5 of 16 Old 01-14-2008, 10:54 AM
 
AprilDaisy's Avatar
 
Join Date: Jul 2005
Location: Louisiana, USA
Posts: 1,820
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
I am actually reading, "Chicks laying nest eggs", by Karin Housley. It explains how 10 women got together and formed an investment club, learned what the stock market is, how to study companies, what it all means, returns, etc...

I am really enjoying reading it as it's a little comedy mixed in with alot of simple facts. So far, so good. I'm hoping to be much more knowledgeable when I'm done reading.
AprilDaisy is offline  
#6 of 16 Old 01-14-2008, 12:31 PM
 
Billie's Avatar
 
Join Date: Apr 2006
Posts: 403
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Thanks for the book recommendation. Sounds great! I'm going to see if it's at the library tomorrow. If not I'll pick it up from Amazon.
Billie is offline  
#7 of 16 Old 01-14-2008, 01:45 PM
 
sphinxie's Avatar
 
Join Date: Feb 2006
Posts: 2,336
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
I've often heard "a random walk down wall street" recommended as an introductory book, but I haven't yet read it myself.
sphinxie is offline  
#8 of 16 Old 01-14-2008, 04:23 PM - Thread Starter
 
newmainer's Avatar
 
Join Date: Dec 2003
Location: midcoast Maine
Posts: 1,582
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
those books sounds good.. i'll check them out.

i have this day dream that i if can come up with a good strategy- like never investing profits, only investing the same start up over and over again- that i could do it safely. also, if i dont' depend on it as any kind of stable income- just a way to try and make some extra cash.

i know there are lots of stock trading simulation 'games' online that you can start with- i think those would be cool to try. years ago i read 'The Online Trading Bible' and although the amount of research you need to do is daunting at times, it really made a lot of sense just to do it, that with care you can manage your money well.

i just think it's crazy that there's this vehicle out there for making money and i'm not taking advantage of it!

I am a homeopath, offering acute and constitutional consultations for children, babies, and parents. Long-distance treatment is easy, either phone or skype! I also am certified to offer Homeoprophylaxis, a vaccine-alternative program. Message me for more details. www.concentrichealing.com
newmainer is offline  
#9 of 16 Old 01-22-2008, 10:34 AM
 
WendyC's Avatar
 
Join Date: Jun 2005
Posts: 587
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
I am looking into trading on the forex. This may be unbelievably nieve - but seems like if you put the work in, study, put a bunch of time in on the free trial 'fake money' programs, then surely you can make something. However from what I am learning, the forex is unmoderated and there are abundant scams and traps out there to avoid, not to mention you have to very carefully manage your money once you do turn a profit.

Seems like a perfect thing for a SAHM to do. I am going to wade in carefully - but I am getting kinda excited about it. Why aren't more moms doing this??!!
WendyC is offline  
#10 of 16 Old 01-25-2008, 09:34 PM - Thread Starter
 
newmainer's Avatar
 
Join Date: Dec 2003
Location: midcoast Maine
Posts: 1,582
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
i think it can get stressful, and you have to more or less always be on top of it. I think what i'm interested in doing is called 'position' or 'swing' trading- when you're buying and holding for a few weeks or months- not as quick as day trading by any means, but not for any long term investments either.

i did some quick searches on amazon, and it looks like the 'Trading for Dummies' books are good and well rated... i think i might try and get those from the library and start there and basically follow the recommendations of highly rated sources, from websites to simulations, etc...

I also heard a piece on public radio the other day about an alternative exchange called BATS... apparently they charge way less than NASDAQ and DOW to execute trades and they are now the 3rd largest volume exchange in the country (out of 11... i didn't even know there was anything other than NASDAQ and DOW!!)

so, lots' to learn... but interesting... at least to me. we'll see if i start losing money!!

I am a homeopath, offering acute and constitutional consultations for children, babies, and parents. Long-distance treatment is easy, either phone or skype! I also am certified to offer Homeoprophylaxis, a vaccine-alternative program. Message me for more details. www.concentrichealing.com
newmainer is offline  
#11 of 16 Old 01-27-2008, 11:10 AM
 
WendyC's Avatar
 
Join Date: Jun 2005
Posts: 587
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
So I got a couple of books at the library that I have been reading that have been excellent and helpful for all types of trading. They were highly reccomended from a couple of forex forums.

http://www.amazon.com/Trading-Living...441857&sr=1-16

http://www.amazon.com/Trade-Your-Way...1442178&sr=1-1


The more I read the more I think psychologically speaking this field is a really good match for me because I can maintain unattachment from loosing and am not going for extreamly high risk overnight millions. What I really need help with is the technical side of the thing.

I have been going through forex 'school' on www.babypips.com and it has been really good. I have learned a lot but I really want to master the technical anyalsis part. Have you started working on analysing charts yet? I have been looking at candlestick charts and trying to decode it all. I know eventually these things will come easy, but right now i am struggling to remember even the basic terminology.

Swing trading sounds interesting - however if I am specializing in trading currencies the money is probably not going to be in holding on to it for a few weeks, since the dollar is so weak right now. In my practice account I managed to loose $1200 of the 'play' money, BUT the last two days I brought my account back up with two successful trades of $300 and $500. Unfortuantly those trades were based more on "gee I wonder how this button works" and not on any intelligent analysis.

So much more work to do. Glad to have someone trying to decode this world with me! I am having a lot of fun working through these things.
WendyC is offline  
#12 of 16 Old 01-27-2008, 11:31 AM
 
WendyC's Avatar
 
Join Date: Jun 2005
Posts: 587
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Quote:
Originally Posted by traycanadian View Post
Hope you don't mind if I sub to your thread! I'm interested too. I keep seeing infomercials and ads for services like Investools and wonder if anyone uses them successfully or does it on their own.
From what I have learned - generally speaking those informercial ads for programs don't work mainly because they cut out the most important part of trading which is human emotion. Which is something that can't be impartially tracked by a computer program. For example say you have a program that tracks the moving average and forecasts that you should hit X level today and it would be a good time to buy. Well, then a bomb explodes and kills the CEO of such and such corporation and everyone panics and sells. If you were just letting the computer tick along you would loose a lot of money.

HOWEVER - from what I am learning - knowing a variety of systems with the understanding that none are magic can give you a significant edge.
WendyC is offline  
#13 of 16 Old 01-27-2008, 03:29 PM
 
kalisis's Avatar
 
Join Date: Jan 2005
Location: somewhere between here and there
Posts: 4,779
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
I traded the silver market for a couple of years. I started right after DS was born and just closed my account late last year. In all honesty, it was very stressful. I was always worried about making the wrong decision and losing my money (which I did, right off the bat, but then managed to make it back). I originally had a broker who I relied on for info, but after I lost about 10,000 b/c of him, I ditched him and did it all myself.

I'm thinking that this is probably what I will do with my time as a single parent in the near future. It's unstable, but with the right setup, I have confidence I can do it. I will have both the kids in some kind of part-time care and that will give me a few hours a day to concentrate on it. It takes a lot of time to keep up with all the news, which is the best way I found to figure out the trends.

It took a lot of trial and error for me to learn what I was willing to do, what kinds of risks I could take, but there is potential there.

I also wanted to say that my STBXH bought the wisetrade software...retail. It seriously wasn't worth all the money and as a pp said, isn't 100% reliable.

*~* A * Mama to C and A * *~* I blog - PM me for the URL
kalisis is offline  
#14 of 16 Old 02-05-2008, 02:24 PM
 
JulieNicole23's Avatar
 
Join Date: Oct 2004
Location: Hampton Roads, Va
Posts: 35
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Isn't there a website that you can use fake money just to practice??

Wife of 10 years to DH , Mommy to DD 12/04 and DS 4/07! I'm a Christian, Homeschooling, Blogging, Business Owning, web/graphic designing, Photography loving, Geek, certified Whovian, Wife and mommy.
JulieNicole23 is offline  
#15 of 16 Old 02-08-2008, 04:44 PM
 
WendyC's Avatar
 
Join Date: Jun 2005
Posts: 587
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
I am just working with currency trading - which has LOADS of free 'demo' accounts to practice on. I don't know about stocks, I didn't see anything - but that doesn't mean it doesn't exsist. For the record, I downloaded the software from fxcm.com and I like it. A lot of forex people love the Oanda.com site for real trading, but the demo isn't too great. Also interbankfx has a demo that a lot of people use. Its great practice for learning technical analysis.

Good luck with the silver market - Ashley! Geeze with this uptrend just buy and hold, I don't think you can loose right now!
WendyC is offline  
#16 of 16 Old 02-08-2008, 06:18 PM
 
kalisis's Avatar
 
Join Date: Jan 2005
Location: somewhere between here and there
Posts: 4,779
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Well, I closed my acct when I left DH. I haven't had the time or brainspace to keep up with the market right now, but it's too bad b/c I had to sell a Jan 08 contract for a loss then and it'd have made me enough to pay off my credit cards now!

Aaaah, the joys of the market!

*~* A * Mama to C and A * *~* I blog - PM me for the URL
kalisis is offline  
Reply

Quick Reply
Message:
Drag and Drop File Upload
Drag files here to attach!
Upload Progress: 0
Options

Register Now

In order to be able to post messages on the Mothering Forums forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.
User Name:
If you do not want to register, fill this field only and the name will be used as user name for your post.
Password
Please enter a password for your user account. Note that passwords are case-sensitive.
Password:
Confirm Password:
Email Address
Please enter a valid email address for yourself.
Email Address:

Log-in

Human Verification

In order to verify that you are a human and not a spam bot, please enter the answer into the following box below based on the instructions contained in the graphic.



User Tag List

Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page


Forum Jump: 

Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off