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[–] Womb_Raider 1 point 2 points (+3|-1) ago 

Try penny stocks, and only buy small amounts. They're higher risk, so they give you a better perspective of how easy it is to lose money in stocks. Then move on to larger, more stable stocks and see how you like it.

Take it slow or you will regret it, as I did. Damn you, NIKE stock! Damn you to hell!

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[–] PraiseIPU 0 points 4 points (+4|-0) ago 

Word of warning to penny stocks. Some trading companies will tack on an extra fee for any stock worth less than $1. On top of the usual $4-$7 per trade fee.

This can pay off like in the case of Fanny Mae/Freddy Mac which were trading below $0.20/share at the bottom and spiked to $5/share at one point. But these cases are extremely rare.

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[–] Womb_Raider ago 

Oh, jeez. Stock fees were always a racket.

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[–] RedditDead2005-2015 ago 

For a novice investor, penny stocks is not the place to get started. It's an incredibly risky and volatile market where you can lose everything overnight (which rarely happens with stocks listed on the NYSE or Nasdaq). It's also incredibly difficult to do research on those companies, and scammers doing the pump-and-dump are all over the place...and it's usually the underwriters.

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[–] Womb_Raider ago 

I only advise it so that he gets to experience losing without actually losing a significant sum of money. He'll learn caution with stocks which I think is paramount

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[–] Peynus [S] ago 

I watched 'Wolf Of Wall Street' ain't nobody getting 999 crazy commissions off of me!