I am a student who is struggling to get by and needs to make some extra $ so I can survive.
I’m interested in learning about the business and the stock exchange so I can invest in stocks and make some money from it, but I can’t take any stock/business classes at the moment because I’m already in law school and too busy at the moment.
I just registered with Virtual Stock Exchange to see if I can make any $ off of that, so I’ll see how that goes. I remember that in my earlier years of education I played a virtual stock exchange type of game and I believe I invested $1000 and came out with about $10,000 after maybe half a year; my group won 1st place for profiting the most from the stocks and we won a year’s worth Chick-Fil-A chicken sandwiches (52 free chicken sandwiches). Now, this was 4 years ago and I was wondering if it would be at all possible today.
I have about $1000 in my savings account that I have kept for emergencies, but I am willing to invest it if I can make an educated investment and profit as much as I did 4 years ago. I would love to replicate my previous investments because they were so successful, but I forgot everything and lost all records of the class =[
Please help me survive here; $ is scarce for me but I need to eat and I don’t want to quit school.
Tips and information about today’s contemporary stock market would help immensely; recommending the best books about this topic would be very kind of you as well. Thank you so much for all your help!
Anyone who is down to their last $1,000 should not invest it in the stock market - especially since you need that money to survive. If you played a virtual stock trading game and made 1000% return in 1/2 a year, your results are beyond extraordinary. I can say with a 99.9% confidence level that you will never get those kinds of returns again.
As a benchmark, Peter Lynch is thought of by many to be the greatest mutual fund manager ever. His Fidelity Magellan fund averaged a 29% return when he managed it, and he had a team of researchers and years of experience as well as a business degree from Wharton, one of the best business schools in the country.
You may hear of so called "day traders" making fantastic returns. Some make decent returns - most day traders lose money. If it were so easy to make lots of money day trading, there’d be a lot more people doing it long term. I know a lot of people, but I don’t know a single person who’s day traded for more than 3 years, because even though some of them might make money in the short term, in the long term, they almost always lose it. Day trading is like playing the slots in Vegas. You may know a few people who have made money in the slot machines, but long term, almost no one comes out ahead.
powered by Yahoo Answers