Since I got a job now and making decent money and I dont really use any of it, I was thinking about getting into some kind of trading, like currency trading or day trading.

I've installed eToro now, and made an account (waiting for the marked to open) so I was just wondering if anyone have experience with this and can give me a few pointers, I've read several turtorials and stuff, but they just explain what it is, they dont really give you any tips on when to trade and when to avoid trading.

Im thinking about trying this out for a while then invest like a fourth of my paycheck each month in hope of making some real money.

Mickey

United States2606 Posts

July 26 2009 20:23 GMT

This is completely off topic, but HAPPY BIRTHDAY!!!

Can we be friends :o?

paper

13196 Posts

July 26 2009 20:25 GMT

HAPPY BIRTHDAY!

DJEtterStyle

United States2766 Posts

July 26 2009 20:26 GMT

Currency and day trading are basically legalized gambling. Put your extra savings into a mutual fund or CD.

Epicfailguy

Norway893 Posts

July 26 2009 20:26 GMT

HAPPY BIRTHDAY TO YOU TOO <3
And yubee as well! (At least I think so O_o)

thanks paper :D (its not really my birthday yet tho, according to norwegian time, but hwatever:D)

motbob

United States12546 Posts

July 26 2009 20:26 GMT

Don't day trade. The stock market should be a long term investment. What you should do is invest in a mutual fund that buys up every stock equally, thus investing in the Dow or the S&P as a whole.

That way you'll be playing it safe and 30 years from now you'll have a nice retirement fund, no matter what.

Epicfailguy

Norway893 Posts

July 26 2009 20:28 GMT

Yeah, I know, but I wanna like do something when im home, I work 4 weeks then get 2 weeks paid vacation, and during those two weeks I got fuck all to do since I dont really have a life, and instead of playing games and watching TV, I was thinking about getting into something that could actually reward me.

Maby I should try poker :S

DJEtterStyle

United States2766 Posts

July 26 2009 20:29 GMT

Read a book. Exercise. Learn a sport. Find a hobby. Day trading is not a constructive way to spend your time.

Epicfailguy

Norway893 Posts

July 26 2009 20:31 GMT

I exercise 5 days a week but that takes about 2 hours

Mickey

United States2606 Posts

July 26 2009 20:32 GMT

#10

It's not my birthday either according to central time zone. I'm in Chicago. Technically tomorrow is my birthday, but tomorrow I won't get a cool birthday icon.

micronesia

United States24741 Posts

July 26 2009 21:08 GMT

#11

The fact that you can afford to say you don't need to use all the money you are getting from your job is great. However, in the long run you probably do need it and should treat it as such.

Rev0lution

United States1805 Posts

July 26 2009 21:30 GMT

#12

On July 27 2009 06:08 micronesia wrote:
The fact that you can afford to say you don't need to use all the money you are getting from your job is great. However, in the long run you probably do need it and should treat it as such.

Wiser words were never spoken.

GHOSTCLAW

United States17042 Posts

July 26 2009 21:38 GMT

#13

poker or starcraft is a better use of time than day trading (imo, obviously you don't think so).

That being said, play smart, and be prepared to lose all of it.

Husky

United States3362 Posts

July 26 2009 21:39 GMT

#14

You could always invest in my YouTube page... I'm sure we'll have our own stocks sometime before the year 2080.

But seriously,

is probably some of the best advice there is. Too many people just throw their money away (not saying what you want to invest in is throwing it away, but it can happen) instead of just saving it in case of an emergency.

If I were you I'd save everything I can, leave what you need for the essentials and a little extra for fun things.

I wish you the best of luck though. In today's economy its good to see at least some people doing well. I would do everything you can not to lose that

edit: HAPPY BEDAY :D

Epicfailguy

Norway893 Posts

July 26 2009 21:45 GMT

#15

Ok, thanks for your advice guys

It makes sense to save the money like u say so I'll just find something else to do on my spare time, but I thought I could make some extra on the side since I have so much time on my hands, but I guess its to risky :-(

Xiberia

Sweden634 Posts

July 26 2009 22:16 GMT

#16

Criz you need to get me a job where you work. Shit sounds awesome.

Ingenol

United States1328 Posts

July 26 2009 23:06 GMT

#17

What's your job?

Epicfailguy

Norway893 Posts

July 26 2009 23:23 GMT

#18

Work at a factory producing some ingrendient you need in paint.
We have 4 "stations" which we rotate on having each day, basically you're just making sure everything is going smoothly.
In 8 hours I probably do about 2 hours of real work if there are no problems, and 6 hours of chilling with the guys, eating and talking crap.

Whats so great about this is that I didnt even need an education, I just made a proper application with some good references from where I've worked in the past, and I got right in

The pay is awesome as well, making 360.000 NOK (divide by 6 to get USD) a year. Shit is a lot more expensive in norway, but this is really well payed.

I quit college and will probably work here for the rest of my life.

pubbanana

United States3063 Posts

July 27 2009 01:25 GMT

#19

On July 27 2009 08:23 Epicfailguy wrote:
Work at a factory producing some ingrendient you need in paint.
We have 4 "stations" which we rotate on having each day, basically you're just making sure everything is going smoothly.
In 8 hours I probably do about 2 hours of real work if there are no problems, and 6 hours of chilling with the guys, eating and talking crap.

Whats so great about this is that I didnt even need an education, I just made a proper application with some good references from where I've worked in the past, and I got right in

Dude, hook me up with a job there.