What am I doing wrong?

[clay]

I've been following this forum for weeks but just recently decided to invest online. But everything I've bought is in the red. The only stocks I've bought is what Cramer recommended or what yall did here on the forum. This is what I've got. AMZB BA CPY DOIG HSOA INTC OWENQ SPZI and XOM. Cramer recommended BA, INTC, XOM,
Forum lists AMZB DOIG HSOA OWENG SPZI

The only one in the green is HSOA and CPY

Where am I going wrong? Any advise from the more experienced investors?

[Tooty]

I've been following this forum for weeks but just recently decided to invest online. But everything I've bought is in the red. The only stocks I've bought is what Cramer recommended or what yall did here on the forum. This is what I've got. AMZB BA CPY DOIG HSOA INTC OWENQ SPZI and XOM. Cramer recommended BA, INTC, XOM,
Forum lists AMZB DOIG HSOA OWENG SPZI

The only one in the green is HSOA and CPY

Where am I going wrong? Any advise from the more experienced investors?


I recommend you not go crazy with the penny stocks as a first timer-- ie SPZI (I call it Spazzy), AMZB. Cuz your looking for a wild ride. Also, the commision should be figured in when you place an order. How much green will it take to cover that cost?

Also, study past posts on how Cramer works- the pros and cons about buying his picks right after his show and so on.

So, good luck. I'm sure some more advice can be given by the others. don't be afraid to start over again with the proper knowledge.

Tooty

[bull_rulkster]

I am pretty much a newbie myself. I decided back in June to start investing. I had absolutely no knowledge of how to invest or how to read a stock chart. The first thing I did was to buy a book. It just happens that the book I bought was Real Money by Jim Cramer. It taught me alot! I read through it once and certain chapters 3 or 4 times. This is not a plug for his book. You can buy any book you want as long as it teaches you the basics. After I bought his book I started watching his show and coming to these message boards.

Do not buy a stock just because someone tells you too, Jim Cramer or anyone else. Listen to the information and do your own research. The first stocks I bought were ERTS and NVDA because I am a total tech geek and avid gamer. I bought what I know about. Do the same, buy what you know about.

Also decide when you buy a stock if you are going to buy it for investment (hold onto it long term) or you are buying it to trade (hold onto it for a set amount of time or until it hits a certain price and sell it). My trade stock was RMBS - you can find alot of information on it on these boards. I learned about it on these boards but before I bought it I did my homework. I bought it at 11 and told myself if it hits 14 I am selling it. Well it hit 14 and I sold it. I made a profit in only about 2 weeks. Now its around 17. Wish I still had it but I made up my mind to sell at 14. That is one thing I always do is sell my stock if it hits the price I want to sell it at. If it continues to go up, oh well, I still made some money and if it goes down at least I did not break even or lose money.

Hope any of this helps you. Good luck!

[bull_rulkster]

Just for your information these were the first 5 stocks I bought:

ERTS
NVDA
TTWO
IACI
INTC

Hey you think Jim Cramer would crucify me on 'Am I diversified' :lol:

But since then I have diversified, I still own ERTS and NVDA though.

[Justmakinmoney]

After you read a bunch on how to read charts and general investing information, I would suggest taking a look at some of the stocks that people suggest on here. Watch and wait for them to go up and get a feel for how much of a swing people generally look for. I think it is best to start out using fake money to invest first. Sites like www.investopedia.com have a lot of great information and general tutorials. Also their simulator is a good place to try your hand at trades. It isn't good for short day trades though. For that I would just find a stock and pretend to buy it on paper. That is the best way to learn what to look for.

[aiki14]

Read, Read more, paper trade, reread what you've read, continue to paper trade, let 25% of your stake ride, if it goes up 10% above your price + commisions take your profit, if it goes down 10% double up, another 10% down bail and start over and figure out where you made your mistake. Just my opinion. Good luck.

[TonyM]

I've been following this forum for weeks but just recently decided to invest online. But everything I've bought is in the red. The only stocks I've bought is what Cramer recommended or what yall did here on the forum. This is what I've got. AMZB BA CPY DOIG HSOA INTC OWENQ SPZI and XOM. Cramer recommended BA, INTC, XOM,
Forum lists AMZB DOIG HSOA OWENG SPZI

The only one in the green is HSOA and CPY

Where am I going wrong? Any advise from the more experienced investors?

If you are following Cramer's style then you should be staying away from penny stocks as he likes to call them the junk food of stocks and only believes in $2 - $10 stocks for speculation, other than that he only likes best of breed stocks. Also he always advises everyone to do their own homework, as Jim says "tips are for waiters"

[WhiteKnuckling]

The only stocks I've bought is what Cramer recommended or what yall did here on the forum.

There's your answer.

You'd be better off doing the opposite of what Cramer says.

Here is a site that pits a monkey against Cramer, and the monkey (Leonard) wins more often than not!

Check out Leonard's picks.

http://www.cramerwatch.org/

[zyzzyva57]

With a Cramer pick, remember to do what he says: wait 1.5 days before buying and if you buy, buy between 10 - 11:30 am

I would suggest you follow a stock for a week at least, set up a Google Alert so each morning you can get the latest news on the stock

Start small--25 shares of one or two stocks you can learn how to track the flow of the stock(s)--before venturing out to the big time

This will teach you at least 3 things: patience, not catching a Falling Knife, and not engaging in kinda/shoulda/wouldas--easy to say, hard to do for real

When using Cramer, go to thestreet.com and look at his good picks and bads, which he lists--that is, learn where he is strong/where he is weak

Weekly on thestreet.com, read this, because she goes into great, simple detail on what Cramer says: http://find.thestreet.com/cgi-bin/texis/author/?au=A0000263

Read "Rule #1" by Phil Town, who shows you how to use Yahoo and MSN financial pages

With 25 shares of a stock, you step up paper trading to a level that has actual meaning, yet you will not lose your core money...Pretend your 25 shares are 250 shares, for example

Also, 25 shares will teach you how to use your broker--for example, I have lost money with Scottrade, because I did not really, honestly understand Trading Stops, even though I thought I did

Cramer this week gave us an excellent study to watch: his rant on Crocs...Is he right or is he is wrong? Whatever, you can learn a lot
http://www.thestreet.com/_tscnav/funds/madmoneywrap/10307803_2.html

With Cramer, you must profile him and learn when he is filling space between ads and when he has something to say! He will not say, "look tonight, I ain't got anything so I am puffing..."

In sum, build upon solid basics, before trying to be the next Cramer, who, remember has been in this game for 30 years

Read his "Confessions of..." book--a classic

[Will]

if you have less than 9,000 dollars and you are trying to buy all those, it is not enough money. I am under the impression that you need at least 1,000 per pick, with the exception of stocks under 5 dollars to make a meaningful impact consistently.

Not sure what you are working with but I would start with 1 or 2 picks, try to time the entry well, i.e. when they have gone down so much it is painful to watch, and learn everything you can about those companies.

[clay]

Guys I do appreciate all of the comments and support. I will be buying a book as soon as I get to town. I started out with 15,000. I think I will hold on to the stocks I have now and sell them when they are in the green. Until then I will just set up a practice account on msn money. Thanks

[zyzzyva57]

Watch out about holding a stock until it gets back into the green, because a Falling Knife will destroy you!

[bull_rulkster]

If it was that easy to hold a stock until it gets into the green and then sell it, well, nobody would ever lose any money in the stock market. Re-analyze all your stock picks and do your homework for each one and make a decision on which ones you would like to hold and which ones you should sell now before they continue to drop further into the red.