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How to make a billion dollars:  i there, welcome to BFC's Stock Picking, Analysis, and Trading Megathread. I've gone through the 10 thousand posts or so old thread and tried to scoop out any info and guides I could! I will rely on the community here to make the OP as noob friendly as possible, I'm sure some of my info may be out of date or wrong! I hope you guys don't mind a lurker doing this, but I'll keep the OP updated at least. Thread for general savings information (IRA/401k) Previous thread Subforum rules and beginners guide.  he first thing to do, if you know nothing about this crap, is to bury yourself in books. - Need more recommendations/reviews!  '*-...THE BASICS...-*' ◄  ►The Neatest Little Guide to Stock Market Investing"...combines friendly guidance and sound financial expertise, giving readers a solid foundation on which to build a profitable portfolio." ◄ ►Options as a Strategic Investment"I have the 2nd edition which is over 20 years old but IMO is the best options guide out there today." ◄  ►Security Analysis"Where is the love for Ben Graham's Security Analysis? If a shouting chimpanzee like Cramer can get three of his books in the OP, what about the book that started it all?" ◄ ►The Intelligent Investor: A Book of Practical Counsel"By far the best book on investing ever written." ◄ ►Trade Your Way To Financial Freedom"Van Tharp’s books are by far the best work I’ve seen on position sizing, expectancy and money management. I’ve read" _________________________  '*-...GOONS RECOMMEND...-*' ◄ ►The Four Pillars of Investing◄ ►Way of the Turtle◄ ►Trading in the Zone◄ ►Trading for a Living_________________________  '*-...CRAMER...-*' ◄ ►Stay mad for life◄ ►Mad money◄ ►Real moneyforum legend dv6speed posted:I know "Jim Cramer" is a dirty word around here... but his books are really good at teaching newbies the fundamentals of fundamental analysis. Even if you don't like his stock picks... he can write drat good books in my opinion that are worth reading. While most pros probably won't get much value out of his books, he, and his co-author, Cliff Mason, really are able to write good books about a very dry topic that is easily approachable by a newbie/layman. After reading his books, reading other books will be much easier, and might not put you to sleep quite as fast.  '*-...FURTHER READING...-*' ◄ ►Market Momentum◄ ►Technical Analysis Explained◄ ►Technical Analysis of the Financial markets◄ ►Trading Day by Day◄ ►Intermarket Analysiss◄ ►Enhancing Trader Performance_________________________  OK so now you've read all that stupid garbage it's time to put all that knowledge to use. But don't use real money, use monopoly money. The virtual stock exchange is a neat toy, you sign up, create a game (portfolio), and you can buy and sell stocks (it even figures in average commissions). http://vse.marketwatch.com/Game/Homepage.aspx Use the resources below and see if you can make some gains with the VSS, if you lose everything there's a reset button. A great way to teach yourself how to study trends and news and apply that information. _________________________  Online guides and resources: List of terms and acronyms "I leveraged my short sell onto a zanado for IEX famangozo interest forcasted flamagadomba!" Day (active) trading A goons guide to day trading Investopedia A great resource for pretty much everything. -- Investing 101 -- Basic topics Motely Fool The cool place for cool people  SEC filings search "Search SEC filings, including the all-important 10-K and 10-Q annual and quarterly reports. Without these you're just wandering in the dark in my opinion." - Hobologist _________________________ Pinksheets: Who gives a gently caress _________________________  Choosing a broker! - Need more recommendations/reviews!Broker Discussion One of the most important investment decisions you'll make has nothing to do with stocks, bonds or mutual funds. This crucial decision is picking a broker. There are dozens of companies offering brokerage services on the internet, and many of them are just as good or better than traditional, brick-and-mortar businesses, but how to decide which one is best for you? Questions to ask~ -How's the customer service? -What are the fees? -How reliable is the broker? (your internet crashes and you have to get ahold of them NOW) -What features do I get for my plan? (account integration/various tracking resources) Goons recommend: E*trade "E*trade's account integration can't be beat in my experience. I have a Roth IRA, Checking, Savings, Global trading account, and a brokerage account with them and wouldn't change for the world despite the slightly higher commissions. They also have a good Iphone app, and supposedly a good blackberry one. TDAmeritrade I get some pretty cool features... I like being able to see the queue of orders that make up the spread above and below a stock's current price, so I can wedge in a stop or limit order into the queue at a useful point (e.g., stock is at $3, there's a ton of buys queued up at 2.98, I can stick in a buy at 2.985 and my trade gets executed before theirs. That kind of thing.) I can trade stocks (including major american exchanges but also OTCBB and pink sheets), options, bonds, mutual funds, and CDs. I can build bonds and CD ladders. There's some decent scripting: One Cancels Another, One Triggers Another, One Triggers Two, One Triggers a One Cancels Another, and so forth. As well as the standard stop market, stop limit, and trailing stop. Zecco I've never had problems with it, but the tools are not that great so I preferred to just rely on tradeking. Their execution time was always fine for me. I've heard that the major problem people have with zecco is the customer service. I was pissed when they upped the free trade balance to $25,000, but the trades are still only $4.50 each. I don't know how good they are for traders or whatever crap but I just do purchases for long term holding and the cheap price suits me well. If you want to do longer term investing, or do very basic trading, Scottrade (and Zecco I assume) will fill your needs. Other good brokers: Option House - Discount Broker Scottrade - Full Service broker Zecco - Very good discount broker Think or swim - Full Service discount broker Fidelity - Voted best brokerage in 2010 by some idiots. Featuring discount trades now as of mid 2010, is pretty good now. For srs day trading hotshots  Interactive Brokers Mirus Futures _________________________  TOOLS OF THE TRADE - Need more recommendations!Charting platforms: One feature of a dedicated charting program is access to a real time feed and downloadable past history for back testing. All of these software companies have a huge database of past data for a trader to tap, and can be requested at any time using the system. -CQG -E-Signal -TradeStation -NinjaTrader(see below) -http://finviz.com Execution platform: Another program you may need is an execution platform. Each comes with their own interface and broker compatibility options. Brokers usually support multiple options, such as Zen-fire, OpenTick and IQFeed. Talk to your broker about which their preferred execution system is, as each as a different opinion about which has the fastest quote and trade execution delivery. A List: -Neoticker Create automated systems and execute them into MB Trading, EFX Group, Interactive Brokers or FXCM -NinjaTrader Sends signals from TradeStation, ESignal or a custom application into Interactive Brokers, MB Trading or Gain Capital. Also a highly recommended charting platform.  Goons highly recommend these platforms for (!but not limited to!) futures:- Trading Tech (http://www.tradingtechnologies.com) - Stellar (http://www.stellartradingsystems.com/)  Picking the best tools is one of the most important decisions you'll make. There are dozens of options, and many brokers offer their own. Asking in this thread and including your goals is a good way to get on the right track. You're only as efficient as your setup._________________________ Agronox posted:May I also suggest that any gloating must include a link to the post saying when you bought or sold the stock? Disclaimer: Everything in this thread is a lie. You will lose everything if you do anything we recommend. Reading this thread is making you lose your house. Your kids will never get into college because you wont close this window. ________________________ Updated 9/15/2010 Umph fucked around with this message at 19:59 on Sep 28, 2010 |
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Jan 27, 2010 23:58
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dv6speed posted:I want to bring up, what was discussed in the other thread near the end, that we need to eliminate the penny stock rule, and instead limit the companies we are allowed to discuss by market capitalization instead of share price. dv6speed posted:Edit: Also, I think auction tag was better. dv6speed posted:Edit2: I know "Jim Cramer" is a dirty word around here... but his books are really good at teaching newbies the fundamentals of fundamental analysis. Even if you don't like his stock picks... he can write drat good books in my opinion that are worth reading. TraderStav posted:- Ninjatrader is a great (top 3) charting platform, not just execution platform. Hobologist posted:Where is the love for Ben Graham's Security Analysis? If a shouting chimpanzee like Cramer can get three of his books in the OP, what about the book that started it all? dv6speed posted:ty moana Umph fucked around with this message at 07:41 on Jan 28, 2010 |
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Jan 28, 2010 06:04
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double post
Umph fucked around with this message at 07:41 on Jan 28, 2010 |
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Jan 28, 2010 06:55
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Umph fucked around with this message at 09:04 on Jan 29, 2010 |
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Jan 29, 2010 04:49
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Limit Up posted:Hi all. I'm Darkmage's friend.  How long did you do futures/active trading before stopping? Toyota. I'm guessing they're getting it all out now that they're already getting screwed but dang. I thought the 28/29th would be the day it bottomed out, but it looks like it's still got a ways to go now even if they keep out of the headlines for a bit. Umph fucked around with this message at 06:32 on Feb 5, 2010 |
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Feb 5, 2010 06:20
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Every time my gf tells me to buy something (like HSY because hey everyone likes chocolate) and I don't it ends up outperforming the market.
Umph fucked around with this message at 05:28 on Sep 16, 2010 |
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Sep 16, 2010 05:24
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