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September 17, 2011, 09:05:15 PM *
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Author Topic: How to turn 3k into more, a lot more?  (Read 25 times)
michael
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« on: July 25, 2011, 11:59:30 PM »

Anyone know if the best, reliable, trustworthy stock brokers to give money to so they can trade on your behalf? I have 3k I want to throw in the stock market. I realize the possibility of losses, but can anyone recommend a person or organization who regularly gets nice returns? I want to make some dough!
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Ch3f
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« Reply #1 on: July 26, 2011, 12:04:54 AM »

I am by no means an expert on finance.  I can tell you though that when I inherited a few stocks that were kept in a well known and respected stockbroker (they were not looked after and some were even declared "abandoned", there's nothing like having a stock certificate that ain't worth the paper it's printed on) and moved them to a "self- managed" discount broker- I was able to look after the trends and turned (by luck, attention and homework) those stocks, that did nothing, into a positive flow.  No, I haven't taken much off the table- as a matter of fact I put much into a tax sheltered IRA.  Sounds like we are in the same boat, meaning that a small investor can't do the things that protect against loss- but you can see to it that you don't pay the things you do earn to the ivy league person that punches the buttons.  
My advice is to transfer to a discount broker, or open up an account ( I am very happy with Scottrade, and no they don't pay me for saying that) and if you still feel (like me) that you would like a "pro" to look after it sink into a managed fund after you get a personal account( I personally like PRPFX (which is steady- although it has taken dips) and TGLDX (which is volatile, when it dips it really dips- but when it grows it really really grows- since I've had it the gold fund has a history of the greatest increases and the greatest losses).  Also, if you have limited funds and choose stocks yourself, make sure you go for dividend stocks, that way if the price per share goes down you are still getting paid to own it.  
Again, I am no finance expert, do not get paid for endorsements and have a history of jumping ship when things look very bad, which is a matter to consider with the above funds like permanent portfolio or the gold fund.  Once you get in you can't get out for I think 90 days without a fee.
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wg0z
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« Reply #2 on: July 26, 2011, 01:44:44 AM »

3k wil not not get the attention of anyone that is any good. sorry.
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CarroBarrato
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« Reply #3 on: July 26, 2011, 02:47:54 AM »

Go to scottrade.com set up an account and buy Bank of America (BAC).  Currently at $10.13 and is below the 200/50/30 day average.  Just an opinion.
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KIRKUK
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« Reply #4 on: July 26, 2011, 03:48:20 AM »

buy shares in Hyperdynamics (HDY) and hold its at $5.45 at present but when they strike oil ...
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Deep
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« Reply #5 on: July 26, 2011, 06:23:15 AM »

Instead on investing in risky up and down stocks...i prefer u invest on my career....am doing MBBS 2nd year...after completing my MBBS i ll do my residency in USA for which i ll be getting an annual stipend of minimum $ 60k ....after 5years ill pay 3 times the amount you invest on me...ill pay the amount in 3 installments for every 6 months.hope that you ll take a wise decision...thank you.
e-mail:dindian2006@yahoo.co.in
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Focusnetservices
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« Reply #6 on: July 28, 2011, 10:05:40 PM »

For 3K, the fees of a broker will kill any gains you may make. ETrade or Scottrade have reasonable trading fees and information on companies that you can research. With ETrade, broker input is available if you want it. Stocks with dividends give some income.
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Cristina_Jacobs
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« Reply #7 on: July 28, 2011, 11:07:40 PM »

It's really tough to make a lot of money with just $3,000. Also, the summer time really isn't the best time to invest; you should wait until around October 15th.

That being said, Royalty Trades is a really good place for you to get investing information.
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