Looks like future mods are gonna have to wait

All of the sudden I've recently become very interested in trading stocks.
I have tons of stuff I still want for my truck: a grille, bedlights, rear floor mats, wet okole seat covers, trailer hitch, the list goes on...

But lately I've been throwing all my money into the stock market, I'm addicted, I don't know why.

Also, for some reason I keep getting "extra" money coming my way from little things that I never expected, you know a few hundred dollars at a time. I keep putting it all into stocks and not Tacoma mods. I guess it's not such a bad thing, huh?
Maybe in a few months I'll be able to buy even more expensive mods. TRD supercharger here I come

Maybe it's cause I'm completely new to the stock market, but I watch it all day and just keep putting money in. Does this happen to everyone when they first start trading?

 

I assume you have some idea of what you are doing in the market?

You can't just randomly pick stocks and find success over the long run. The market is particularly volatile right now. It has been up the past 2 weeks but there could be a correction soon and drop it back down into in the 6000 range (the Dow Jones Industrial Average that is).

If you are not sure what a good company looks like - financially speaking - buy mutual funds or ETF's. Mutual funds have a fee and are managed by team of professionals who buy and sell stocks for you. ETF's do not have a fee and are a 'basket' of stocks that is pre-determined. It is safer than single stock companies because it is more resilient to large drops. On the flip side, both are safer plays but do not have as large of an upside like stocks do.

I like Google, Caterpillar and Apple. I also watch the ETF of VTV. It's a large-cap and has a nice dividend (5.5%).

Good luck and don't loose your wheels to the market!

 

Thanks for the advice, I'm not just randomly picking stocks but I don't have a proven method either, lol.
The stocks I'm going after are particularly high risk but that is ok.
At this point I have less then $2,000 in and if I were to lose every penny I would be upset, but it's not the end of my life.
I wasn't dumping all of my money into it, just extra money I wouldn't normally have had like overtime shifts, I sold my old rims/tires, tax return, etc...

 

I purchased 133 shares of VOIP5000 for $800. I bought it for $6/share.
It was a small company and the stocks were sold on pink sheets (penny stocks). They "reorganized" and the stock did a backward split (or something). I know own 84 shares and the stock is worth $.0004 = about 3cents in total value.

The stock marked turned $50K into $28K in just a few years for me.

 

Damn that sucks. I take it this was when the economy was going strong?

The way I look at it, what better time to buy then now?
(Insert investment cliche here) "You gotta spend money to make money," "you'll never know if you don't try," etc, etc...
Just about everything has dropped and is about to go back up because we all know Obama has a plan and will fix *EVERYTHING*.... right?

...God I'm screwed, lets see how fast I can hit that sell button.

 

you definitely are taking a risk, but then again you said its just money that you lying around. i would love to get into the market with all the money i have made over here in iraq, but i dont want to lose it either. you are right though, it takes money to make money. if i knew more about investments i would definitely put 5-10,000 in to try and save some up for mods. i need to do my homework.

 

Cramer also recommended purchasing Bear Sterns several weeks before the company went under.

I have followed his recommendations in the past and gotten in trouble. He has successes but he also have failures - much like anyone investing in the stock market.