2. Build up a saving fund ( grubstake ) and borrow your own money when needed , repaying yourself at commercial rates i.e. for ￡10 borrowed replace with ￡11. This will gradually increase funds for you instead of making others rich. It will sharpen financial responsibility.
3. Imagine a Premium Bond prize of ￡100,000 and run a Virtual portfolio with ￡5000 in each of 20 FTSE 100 stocks . Trade at least one stock per week.
Hey,
Penny stocks, also known as cent stocks in some countries, are common shares of small public companies that trade at low prices per share. They are notoriously risky but if you follow a special method I've learned you can earn good money at almost no risk. This is the site I use: http://pennystocks.toptips.org
I definitely recommend subscribing to this site in particular. Very good research, quality stocks. I was a bit weary of penny stocks from all the bad hype they receive but this guy is pretty legit. He's put my mind at ease with a lot of the fears I've had. I especially like that he doesn't send out announcements left and right. I've signed up for other websites that fill my in-box with one company after the other. I don't know where to even start with so many choices in front of me! Nathan sends me one idea a week and that's all I need. Working so many hours during the week leaves me with very little time when I get home to start doing tons of penny stock research. I'm always eager to see what Nathan's next suggestion is each Friday and I love having time on the weekend to do my research.
As said above if you want to make money with penny stocks you have to follow some proven methods. This one in my opinion is the best: http://pennystocks.toptips.org
I hope it helps
"hopefully I could leave my job soon and progress into bigger things stocks and shares"
If that is to do day trading, forget it, the only people who make money day trading are the brokers who are sat taking a little off each of your transactions.
I have a friend, he was on channel 4 in UK back in 2006, he was doing day trading, in November 2006 he made ￡25,000 in the one month, he had started with over ￡500,000 he had made from Property rentals.
I saw him about 2 years ago, he was down to his last ￡95,000 and was looking to buy a property to renovate.
He has just moved house into another and is now buying a couple of houses to renovate and hopes to do about 4 or 5 this year, and make some decent do$h back, and avoids the day trading, the month after he made the ￡25k he lost ￡26k.
I also have another friend, he only had about ￡20,000 to start with, but gave up when he was down to his last ￡2,000.
Actually he had done the correct thing with some of his money, more by accident he had bought ￡2,000 of BT shares and left them alone for 5 years, when he sold out he had nearly all his money back, just short of ￡18,000.
And there is the key, if you want to make big bucks, have a steady job earning money and just buy shares as a hobby and leave them alone. Also have the interest paid in more shares, and leave them accumulating, because compound interest kicks in.
You look for a FTSE 250 share with prospects, and companies with a high amount of R & D, also they need to be paying a reasonable dividend, then have the dividend paid in more shares, and leave alone for 5 or 10 years, and you will see the value really increase.
Always invest in more than 3 or 4 shares and never buy and sell short term.
Day trading is for fools, some are lucky but they all have their luck run out.
I'd strongly suggest staying out of the stock market right now... there isn't any regulation at this point. Most sources expect a 50% or more downward correction in the stock market fairly fast.
Stay the course in building your resume and keep only enough money in the bank to pay bills... the rest hidden in cash and silver bullion. It won't be long before the LBMA and COMEX default on all the millions of silver and gold shorts they have out there and the spot price will be irrelevant. That means that the true free market price discovery of gold and silver will be set free, and you could easily be seeing $500 silver and $4,000 gold.
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Okay so I'm 17, looking to progress from my job I have been at for 7 months, not great at saving money I could save quite a bit what's the best option hopefully I could leave my job soon and progress into bigger things stocks and shares I'm not sure what's the best option for me to invest cash what's a smart move please help
Regards
