Posted by Solace:

Posted by fishmike:

good post Nalod. Its all about managing your risk and exposure for her. She does do it for a living and its paying off. She can garden on slow days or play with the kids. Other days she's got a beer for lunch... you never know. With the pennies its all about what your willing to lose. Also thats why you pay for real market data. She knows people that dont. Its like being willing to drive and pay cash for a $20,000 car, then turn down collision which runs you $40 extra a month. Sounds dumb but people do it.

Mostly she sticks with technical analysis, and swing trades. When that stock hit 6 cents she sold half her shares. That ensured she regained her initial investment and a 100% profit. The rest is free shares. I dont know if she sold today or not. I dont ask until I get home... else she gets stressed.

I wonder if she's ever peed in a cup. My guess is no.. the bathroom is very close and she's got a wireless notebook so she can wander if she wants.

So, if you had to estimate over a year, how much do you think she's bringing in? This is kind of interesting to me. Is it something where you could make enough to live off of as a single person, or is it more a nice suppliment... where you could still gain a decent ratio via mutual funds anyway?

Posted by EnySpree:

Posted by fishmike:

Posted by Nalod:

Posted by fishmike:

well.. its been a good week. The Mrs. put $1500 into this one last week at 0.01 and is still holding. They dont all do this when they do man o man.

http://finance.yahoo.com/q/bc?s=FMNJ.PK&t=5d

Its like going to Vegas. When you win, you tell. When you lose its:"we had a great time".

not true... anyone willing to dedicate real time and effort into learning about the stock market can make good money investing. Problem is most dont. They throw their money at tips or hunches and they are refered to as the "sheep" because they are being led to a slaughter.

The other thing is to trade in a market like that you have to be watching, because its minute to minute. As fast as it goes up it goes down, so you have to have a good exit strategy as well.

Its not gambling... you have to think about how much time and effort you are able to put into it, and choose a strategy accordingly. If you want to invest and you have a couple hours a week to do research then buy some mutual funds, a couple blue chips and call it a day. If your looking to actually work from home and are willing to put in 45-50 hours a week you can get into and play these kinds of markets.

It's a big game to play that is way over my head. I wanted to invest in some mutual funds maybe at the start of the new year. It would be nice to know as much about this stuff as I do basketball.

If you desire a professional result, hire a professional to pick a few good funds for you. Buy a "C" class share so you can stay flexible.

A good strategic fund that provides good asset allocation on an ongoing basis might be boring at times but win in the long run. A company like IDEX Funds has some nice offerings.

Mrs. Fishmike as Mr. said is not investing but trading. She is also putting in the hours so its not like investing when your money is working for you, but she is working for the money. Big difference.

Most day traders are gambling and often have addictive qualities. A REAL daytrader is earning that money.
It ain't like they portray it on TV commercials hyping the "American independent spirit of self reliance". What we do is mostly boring and tedious. Traders ramp it up but are applying "THEORY" with greater velocity.

There is not much scientific about daytrading. Its unpredicable and unsteady. You need just a few good days all year to make or break you. But you must be able to sit at the table and lose and lose more also. Failure is a big part of it so you must be able to accept it.

Lets put it this way, when I retire, I will hire someone to do this for me. Why? Im gonna go out and play or do somthing else.

I find it funny that people will take more time to detail a car each week then tend to thier nest egg. THey spend more time following the knicks, or looking at Ms. Alba. But god forbid they will pay someone 1% to manage their affairs.

Most people can't beat the pros. They can in short bursts, but the key to portfolio management is not to beat the market when it goes up, but reduce the drops. That is how we win.

ANd never sell when it has a bad years. The portfolio managers, like ball players don't always have a good year. Selling out after sucha year is foolish because that manager is likely closer to hitting there target than the year before. If a Growth manager his not doing great in a Value driven market be patient. Its like a fast ball hitter waiting for the right pitch.

A study tracking mutual fund owners found that when an investor sold a fund to buy another, 60% of the time the fund they sold did better than the one they switched into.

Look, when you buy low and sell high there are reasons its low. War, recession, bad earnings, etc. Not good things, but thats why its low. Because there is uncertainty surrounding it and simply put there are more sellers than buyers.

Thats the tip of the day from Nalod.

Posted by djsunyc:

Posted by MinsHeartsReezy:

I play a little cricket in the summer.

cricket? mins plays cricket? now all you gotta tell me is that you can cook some curry goat and i'll change my name to djheartsminsnyc...

Nothing like a pickup line like "Can you cook Curry Goat?" to woo a women!

Posted by fishmike:

Posted by VDesai:

22 yr old Investment Analyst, graduated college last May and am about 9 months into the working world...

sucks doesnt it?

Posted by oohah:

Nothing like a pickup line like "Can you cook Curry Goat?" to woo a women!

For people from the West Indies, there is nothing more romantic than that line.

oohah

Nothing like a good woman who could throw down some good curry goat bro...

You know at first I thought this was a good thread but I'm beginning to change my mind...By humanizing you guys, it makes me want to be civil and nice to folks....I think I'm losing my edge...
Don't tell me I have to be nice to fishmike now that I know he is the guy who gets me back online after systems malfunction...I'm not going to bend....