VIDEO ON MSN MONEY
The day trading situation presented in the article will not work in terms of the time frame given. The reason it will not work is that you can not trade that total ten thousand dollars every trading day available. If you buy one day and sell the same day, you can buy again, but then you must wait 3 days before you can sell again. A broker can't stop you from selling before the 3 days is up, but they can restrict your account so that you will not be able to do that again.
Personally, I've never understood why one must wait 3 days for anything to "settle". We are in an age of instant electronic transfers. If you buy, they don't wait 3 days before getting the money, so I've never understood why it is that I must wait 3 days before I can trade again. I can see why that might have been back in the day before electronic trading, but I see no valid reason for it today.
Another risk with commodity trading is you might have to take ownership of the real stuff. That incurs costs of delivery and storage, as well as delivery again when you finally do sell. I've had friends who bought commodities, saw the price fall to where they didn't want to sell (wanted to wait for prices to rise again), only to run out of time and get killed on delivery and storage.
The "going off on your own" is probably the least risky of all of these, as long as you make a good plan and stay within your competencies. It can include upgrading your education, which will usually pay off as long as you don't incur a mountain of debt doing it.
The article does have a flaw that is the focus on the stock market a THE investment. Sometime back a man wrote for advice. He wanted to "retire", but not so much, and wanted to keep going and wanted more income.. The advisor spoke of mutual funds and baskets of stocks. The man was a contractor, and had the skill and tools to remodel real estate. Not one word of "buying the worst house in the neighborhood" for a rental. I was not a carpenter, but I started doing this in school, now retired at 79. Sometimes a lot of "sweat equity" went into the places, but the has unsold has paid back every cent, is still valued at more than I paid, and is still returning money. Wish I had done more.
Only 5? Stock investing involves many risks. In order to minimize them, an investor needs the patience to research and research again.
A casual look at a stock before buying is a sure trip to the poorhouse for anyone with limited funds; that's a no-brainer.
BRIAN BOLTON:The truth is there will be a compromise.The Repubs will have to cave in on some issues.Don`t believe the far right lies about the class getting screwed over.Idiots like Rush,
Hannity and the like have been throwing that mud on the walls hoping those lies will stick.By about Dec.18th there will be a compromise so they won`t miss their vacation.It makes me sick that the far right
tries to scare people with their lies.
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