Real Estate Appraisal Forum

appraisersforum.com logo
The Premiere Online Community for Real Estate Appraisers!
 Fastest Way to Find a Real Estate Appraiser Enter Zip Code:
 
 
Go Back   Appraisers Forum > Other Forums > The Watercooler
Register Help Our Rules Calendar Archives Mark Forums Read


Closed Thread
 
Thread Tools
  #1  
Old 10-07-2004, 05:59 PM
Joker's Avatar
Joker Joker is offline
 
Join Date: May 2002
Location: Hicksville, Appalachia
State: Ohio
Professional Status: Certified General Appraiser
Posts: 6,070
Default

I have recently started playing the market with small amounts of money. Sitting in a bank account will earn less than 1%. I have mad some and lost some, but in general, I have made more than the 1%. Most of us here sit at computers anyway and this is more fun and more profitable than the occasional free cell game. I keep the ticker running in the background and buy or sell as I choose. What a hoot! All this time I trusted my investments to mutual funds and the experts when I could've been having fun doing it myself.

Scottrade offers $7 trades and as little as $500 can get you started. If anyone isn't doing this but is interested in getting started, send me a PM. If I refer someone both they and I receive 3 free trades from Scottrade.
__________________
I don't need no stinkin' signature line.
Sponsored Links

  #2  
Old 10-08-2004, 02:08 PM
tommcsherry tommcsherry is offline
 
Join Date: Mar 2004
Location: N38 57.536' W123 6.620'
State: Nevada
Professional Status: Certified Residential Appraiser
Posts: 1,681
Default

Doug:
Be careful and don't get burned. It is addicting, but most daytraders end up losing...and many end up losing a lot! If you insist on playing, take a look at a free program called QuoteTracker...it is excellent for tracking things realtime adn for generating realtime statistics and charts so useful to all the different daytrading techniques. I think you can find it at www.quotetracker.com...if not let me know and I'll get you the real link (not the one from my memory).

Also, playing with small amounts of money is a good idea, but you might want to look into daytrading options...you can increase the leverage of your money without increasing risk or tapping into buying on margin.
  #3  
Old 10-08-2004, 03:47 PM
Joker's Avatar
Joker Joker is offline
 
Join Date: May 2002
Location: Hicksville, Appalachia
State: Ohio
Professional Status: Certified General Appraiser
Posts: 6,070
Default

Tom, thanks for the advice.
I considered the options route, but so far am doing ok as is. I will check out quotetracker but the scottrade ticker seems pretty close to real time. A friend of mine (a local LO) and I are both doing this and are putting an investment group together. There will be four of us; having an attorney draw up the legal docs. If I can keep netting 5-10% return each week, I can have fun AND have a retirement account. Who needs appraisal work? (I do!)
__________________
I don't need no stinkin' signature line.
  #4  
Old 10-08-2004, 04:12 PM
tommcsherry tommcsherry is offline
 
Join Date: Mar 2004
Location: N38 57.536' W123 6.620'
State: Nevada
Professional Status: Certified Residential Appraiser
Posts: 1,681
Default

Good luck Doug. Don't get over-confident. Quote Tracker is a far better tool than what Scottrade offers (or any other broker for that matter)..lets you do some pretty sophisticated things...and, if you want, it interfaces with Scotttrade so that you can do all your trades from it instead of having to log onto the broker site.
  #5  
Old 10-23-2004, 09:18 PM
Bobby Bucks's Avatar
Bobby Bucks Bobby Bucks is offline
 
Join Date: Jan 2002
Location: flyover country
State: North Dakota
Professional Status: Real Estate Agent or Broker
Posts: 5,489
Default

On a similar subject, Im getting ready to juggle my IRA around. I currently have it in a mutual fund thats not earning jack. Im going to put half of it into a self-directed IRA and roll the dice a little so to speak. Does anyone have anyone they use that theyd recommend or not recommend? Im considering TDWaterhouse, Ameritrade, Harris Direct, Sharebuilder and Etrade to name a few.
__________________
Forensic witch hunter extraordinaire
  #6  
Old 10-23-2004, 09:50 PM
Willie's Avatar
Willie Willie is offline
 
Join Date: May 2002
State: Tennessee
Professional Status: Certified General Appraiser
Posts: 4,842
Default

Equity Trust, formerly Mid Ohio Securities.
  #7  
Old 10-23-2004, 11:09 PM
Lee in L.A.'s Avatar
Lee in L.A. Lee in L.A. is offline
 
Join Date: Jan 2002
Location: Los Angeles / Reseda, CA
State: California
Professional Status: Certified Residential Appraiser
Posts: 7,861
Default

Quote:
Who needs appraisal work? (I do!)
Who needs the Quikee Mart, Apu! :lol:

Buy and hold folks.
__________________
Reach out your hand, if your cup is empty.
if your cup is full, may it be again.
  #8  
Old 10-24-2004, 07:26 AM
Claude From NY Claude From NY is offline
 
Join Date: Jan 2002
Location: NYC - Long Island
State: New York
Professional Status: Certified Residential Appraiser
Posts: 2,563
Default

Doug,

I was day trading from late '99 up until recently. This is the first year where I encountered a small loss due to the very choppy and difficult trading conditions. In the prior years I had modest to major gains relative to my means and account.

IMHO it is paramount that you plan the trade, and trade the plan and always maintain tight money management with targets and stops. You should know when you will get out of a trade even before you get into one. When your trade reaches your profit target, sell! It's never wrong to book a profit. Don't get greedy looking for more.

The Achilles heel of most newbies is allowing a small loss to turn into a big one.
Many are overtaken by their emotions which leads to sure failure in trading. If your trade is going against you, get out! It's much easier to take a .25 or .50 cent loss than to watch it lose multiple dollars.

As far as options are involved Doug, all I can say is DON'T DO IT!. The spreads are very wide, commissions are typically higher. The percentage of call and put options that expire worthless is in the 90s. It is almost impossible to consistently make money buying options.

The only traders that make money in options are the ones that sell contracts against stock that they own, producing an income stream.


And most of all Good Luck To Ya!


Claude
  #9  
Old 10-24-2004, 07:29 AM
Claude From NY Claude From NY is offline
 
Join Date: Jan 2002
Location: NYC - Long Island
State: New York
Professional Status: Certified Residential Appraiser
Posts: 2,563
Default

Bobby,

I have an IRA trading account over at Interactive Brokers. No hand holding or bells and whistles. Strictly an online trading platform. Low commish.
  #10  
Old 10-24-2004, 09:11 AM
Terrel L. Shields's Avatar
Terrel L. Shields Terrel L. Shields is offline
 
Join Date: May 2002
Location: Springtown, AmeRica
State: Arkansas
Professional Status: Certified General Appraiser
Posts: 38,847
Default

I hold for long term and my oil stocks purchased in 99-00 paid off like slots now. Halliburton at $13 - now $36; Venture to $20 from 9; etc. Had some losers like Parker Drilling, but all in all Oil stocks were good.
Only Sandisk has proven to make me money in the tech stocks. I think it still can. SunMicro is a real bow-wow for me...and i think they put out a good product, just cannot make money w/o Microsoft pulling the rug from under them.

My bro. has bought and sold Wal-Mart for years and he can buy me 5 times over. Buy @ $50, Sell @ $60. He can cycle that about every 6 - 24 months. Trucking stocks seem to be very economy and gas price sensitive...good short term plays.
__________________
"What does not kill you, makes you stronger, except bears. Bears will eat you"
Sponsored Links

Closed Thread


Thread Tools

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

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump




Copyright © 2000-, AppraisersForum.com, All Rights Reserved
     Terms of Use  Privacy Policy
AppraisersForum.com is proudly hosted by the folks at AppraiserSites.com

Fastest Way to Find a Real Estate Appraiser Enter Zip Code:
Partner Sites:
AppraiserUSA.com - National Appraiser Directory AllDomainsUSA.com - Domain Name Registration
DeadbeatListings.com - Deadbeat ListingsAppraiserSites.com - Web Hosting for the Professional Real Estate Appraiser
Find FHA Appraisers - FHA Appraiser Search Commercial Appraisers - Commercial Appraiser Search
Relocation Appraisal - Find Relocation Appraisers Domain Reseller - Business Opportunity
Home Security Buzz - Home Security Info Radon Testing - Radon Gas Info
My Medicare Forum - Medicare Info Stop Smoking Help - Help Quitting Smoking
CordlessPhoneStore.com - Great Cordless Phones AndroidTabletCity.com - Android Tablet Computers

Follow AppraisersForum.com:          Find us on Facebook            Follow us on Twitter


All times are GMT -5. The time now is 01:14 AM.

SiteMap: 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45, 46, 47, 48, 49, 50, 51, 52, 53, 54, 55, 56, 57, 58, 59, 60, 61, 62, 63, 64, 65, 66, 67, 68, 69, 70, 71, 72, 73, 74, 75, 76, 77, 78, 79, 80, 81, 82, 83, 84, 85, 86, 87, 88, 89, 90, 91, 92, 93