Quote:
Originally Posted by halsted
I'll list some bullet points of what I'm trying to accomplish. Any help would be appreciated. If my goals are unattainable just tell me to invest in a mutual fund or something.
*I am trying to get interested in the market to the point were I'm excited (like a lot of you) to check the end of day prices.
*I'm not looking to day trade. Buy and hold for years strategies won't get me interested (not that it's a bad idea).
*I would like to specialize in a specific area as opposed to a general knowledge of the market
*I would like to get an edge eventually, but initially I just want to learn and get interested.
I keep hearing things like options trading, day trading and short term trading in general are too hard to beat.
I want to be interested in the daily goings on of SOME part of the market and make a few trades every month or so. Just to keep me learning. Is this just a beginners fantasy world?
Few thoughts of mine, none of which is investing advice.
not sure how to get you interested in checking end of the day prices, as most investors and advisors don't care either.
If you really want to be interested in a particular "area" I would first learn at least the basics of the market and probably more. Some people will tell you that up to 70% of the movement of a particular investment is tied to the market as a whole.....(more to this saying, but don't think it is needed here).
(generic ideas) As for some "area" to pick you could consider studying a particular country or continent, a particular commodity, or a particular industry. Other ideas you could focus on but after reading your 1st post they may not be exciting enough are REITS, utilities, or preferred stocks.
"*I would like to get an edge eventually, but initially I just want to learn and get interested.": You are asking for an edge in a game that is run by sharks. You are competing against professionals. Of course in a good year for the market you will most likely make money no matter what, but don't think you are going to come in a murder the market's return every year. This doesn't mean you can't luckbox way through everything though.
I'm not saying all this to discourage you because I always think it is a great idea for someone to take an interest in the investing world, but I just wanted to give you some warning. GL