Investing = long term. Many investors succeed.
Penny stocks = silly gambling for fools. You will not out-scam the scammers.
youtube = great for cat videos. An incredibly bad place to acquire investment knowledge.
Here are 3 books to read so you won't make the mistakes of the 18 year old trying (and failing miserably) to give investment advice.
One Up On Wall Street - Peter Lynch
A Random Walk Down Wall Street - Burton Malkiel
The Intelligent Investor - Benjaming Graham
What do you mean by trading? day trading? that's called gambling and you will always lose by "playing the market" Unlike the guy before me, The Wolf, I'm not 18 yrs old, I'm 60 and I don't trade or play the market,
I invest in stocks through mutual funds. I started investing when I became 30 yrs old and I am convinced that anyone can accumulate 1 mil before age 60.
Here's the secret, live below your means, save your money and invest wisely.
No brokerage company, no financial advisor, learn how to invest in mutual funds, and never invest in penny stocks !!
Gambling (or trading or day trading) triples your money overnight
Investing triples your money in a decade.
Most gamblers lose it all.
Most investors make money.
Learn about Warren Buffett. His approach will work for anyone. Buy (high) quality and hold for the long term (30 years). (PG, XOM, JNJ, DIA, SPY) Just make sure your "blue chip" stock doesn't become the next Sears, Kodak, Fannie Mae, Freddie Mac or Citicorp.
You can make good money like me with this binary option signal software ( http://forexsignal.kyma.info ) Binary options trading has always been popular, however, this investment fad globally exploded around 2008. Originally known as digital options, binary or the name "two values" was added to give a simpler explanation for trading options. Binary is defined as two values or up and down movements. Binaries rely on underlying assets or derivatives. You can trade in commodities, the forex (foreign exchange market), commodities as well as stock indices.
Yes, most people who "trade" (ie buy & sell on a short-term basis) LOSE money....but most people who INVEST (ie buy quality stocks and hold them on a long-term basis) make boatloads of money, in the long run...
http://www.dogsofthedow.com/ddogytd.htm
I read somewhere that 80% of people who trade lose money in the long run.
Anyways, I want to know if even though I don't have much money now (i'm 16), is it even possible to gain wealth strictly by investing, making gains, and investing bigger and making for gains? I will obviously go to college and have a career, but i want to know if in the long run I can amass wealth by trading.
Thanks.
