I can borrow up to $25,000 from the bank, I want to use it to become a day trader. I plan on buying stock in internet companies that Isuspect will get bought by larger companies like Google. I buy 20,000 in stock from Company A for a dollar a share, then CA gets bought by Google, and bingo, I now have 25,000 shares of Google, worth 300 a share.
Have I got it covered? Any advice from other traders?
Name:
Anonymous2010-01-13 18:31
Holy fuck don't borrow money to invest in stocks. You sound like the average idiot who goes into stock trading thinking they can beat the system and gets broke in a year. Stock trading isn't a get rich quick scheme. It takes time to learn. If you're just the average idiot who avoids risks by trading in "safe stocks" in big well known companies like Google, Yahoo, Apple etc. you are going to be in a world of hurt when these stocks tank.
My only advice to you is: Good traders make money even if the market goes down. Bad traders only make money when it goes up.