I find the stock market an interesting "thing". A place where the value of stock certificates can go up and down based on news, technicals, hype, or no reason at all. And the pink market is nothing but scam companies created to grab as much money as it can via the stock market by selling into the market as long as it can. Which I'm not sure why they are allowed to do it...
I've tried looking at the technicals for stocks and those make no sense at all. For the most part, they are colorful lines that almost match the graph of the price. I'm not really sure how that makes them useful. It makes me think that those are just a way to screw with noobs while the real traders know what to really look for, which probably has little to do with those technical readouts.
One thing I've also been doing, is following up on those daily stock picks. Specifically from OTCStockExchange. There's a trend I see. Don't buy ANYTHING they pick...not right away. They always seem to go down before they actually pick up. Also, avoid pink stocks. I stick to OTC because I have no money to buy the bigger stocks anyway. But the thing with the lower price stocks? They have a better chance of going up a larger percentage (i think). I mean, they are so low already, they have nowhere to go but up! Unless they go down.
I currently use Scottrade for trading. They are fairly cheap to use compared to other companies like E*Trade or others. I'd recommend using them if you don't. Also, if you don't need the money but want to try out trading, trade within an IRA account. Anything you make in an IRA isn't going to be taxed (unless you pull the money out).
If anyone has traded stock before and has tips, please leave a comment!
|At first glance, I thought this was going to be a shoop with KKK members...|