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Online Stock Trading

JammieDodger

Senior Member
Joined
Jun 25, 2008
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Originally Posted by SkinnyGoomba
Jim Cramer's advice is something that bothers me, since his word has a large impact on a large audience, its tough to say weather or not its accurate.

I think it's quite easy to say it's largely inaccurate based on his below market returns some years and at his worst a year in which it would have been better to take the opposite position on all his tips (allegedly).

He's wealthy and that means he might know what he's doing - it doesn't mean he's sharing that wisdom rather than exploiting his status for his own means.

I too tend to follow Buffett's style, or at least I follow the mantra that the best time to sell is never. Unlike Buffett I invest in tech and commodity stocks as well as small caps.

Regarding trading as an amateur. This is embarassing but I'll be honest, I lost £1.5k trading when I first started out (out of £2k I'd put in). It's incredibly easy to get emotional and read things that aren't there, especially with no practice and when trading OTC stocks. The fact that I was sure I could replicate a 100% return I'd gotten in a day also didn't help. The only thing that stopped me was the realisation that even if I did make gross gains, because of the lack of money left the commissions would stop them from being net gains.

People do make money trading based on technicals, I've known people who make a living of it working from home. It's not for most people though and certainly not for me. All I got from my experience was knowledge of how to read a chart and pick entry points, paper trading could have done that for free.
 

poelow

Senior Member
Joined
Dec 26, 2007
Messages
141
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1
Originally Posted by unpainted huffheinz
This is the worst advice I've seen having to do with the markets in a long time. Cramer and Kudlow are entertainers not experts.

Oh be quiet. Yes they are "entertainers" in a sense but Cramer's stock picks move and Kudlow, where else does a show talk about real economic nitty gritty and have people on like Art Laffer, Sheila Bair(FDIC), managing directors from GS, etc. talk about markets and economics? I thoroughly enjoy it. Get off your high horse.
 

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