ok men.. time to find a way...

hi brothers...  Time for a story... i want to get into a "make some money thru the stock market to buy a house". I am almost 1 year outta college and live with my g/f. we want to get a house and get out of the 1 bedroom too small apartment. now i see that thru reading on covers that a company like citigroup is at 1.40. its gotta bounce back.. (im a drop of a hat kinda guy) I live in canada and i see that they have an online stock trader called questrade. Expendable income a month is prolly 300-500 that i can play with. If i put in like 2-3 hundred and lost it owell. she wont kill me that much. I need help because yes im thinking about diving in head first. any1 used anytghing like this?? is it worth it to try and make a quick couple grand?? we're only about 5k away from having a DP for a house... we have already been preapproved for a mortgage. thanks boys for your help... this is why i love covers,,

 

thanks

 

mike

Why wouldn't you just save the 300-500/month and if you rached 500 - you'd have your 5k down payment in 10 months.  Seems to me a no brainer than to get heavily invested in a market that clearly has no idea where it is going including farther down.  The market can stay low a lot longer than you can stay solvent (not that this would kill you as you say).  Further, figure that when you buy a house that there is going to costs and expenses associated with buying the house that you didn't think about - not bad things but I would guess your GF will want to repaint rooms or fix areas or buying stuff you didn't need in a apartment like a lawnmower or spend money on watering the lawn.   I would figure another 5K on the onset to think about.

steel- good points...  im paying the downpayment.. she'll have 5 k for other stuff... fridge/stove. washer dryer. im an action junkie... (bad idea) prolly but i like the ups-downs.. im reading the pips website.. and its awesome.. went and signed up for free practice acct and im lost.. all the charts and the ticker on the screen im overwhelmed but im focused on learning.

smalltimer,  look into forex,  some of us here at covers have gotten into it, and have been doing well. 

 

while you save up go to www.babypips.com and learn about the market,  then use a practice account for a few months.

 

I am going live either this week or next.

 

at this point I would not reccomend trying to outsmart a market that is more unpredictable than a drunken monkey with knives for fingers. 

 

there is a forex resource thread in the investments forum

 

check it out.

 

if you like action you are not going to beat a market that never sleeps.    

 

 

 

that is the link to the school section 

thx rick...

 

ill keep in touch..