complete noob looking to invest $1000

[holdemgodmode]

Hello, I am 29 years old. Don't have any stock trading experience but have been doing marketing/internet stuff for my entire life basically. I also play poker professionally (in the sense that I pay my bills with it) so I understand the basic concepts of risk management.

I'm trying to decide what the best way to do this is. Understanding all the different types of things that go into investing and which types of investments I can go with, etf, mutual ect ect.

I guess my actual questions are
Should I just load up a trade account and buy $1000 worth of stock and go from there? How can you even decifer which actual companies to invest in? Would amazon be a decent choice?

Thank you for answering my noob questions. I'm really wondering if profiting 800-1500 a month from doing this is possible.

 

[CBC]

90% of the traders here trade derivatives. Look into that, mainly options and futures.

I've heard people say " it gives the little guy the chance of becomming that big fish. "

 

[Karl Domm]

There are many investing / trading philosophy's. I have been trading for 24 years. I began with mutual funds then graduated to fundamental investing (Picking a stock direction based on a story) then moved to picking a direction based on charts and stochastics. I eventually learned that picking a stocks direction is a 50-50 (Actually 53% up 47% down due to market drift) shot because statistical analysis proves it. I have found that selling option premium based on statistical analysis regardless of stock direction makes money.

 

[K-Pia]

I'm trying to decide what the best way to do this is. Understanding all the different types of things that go into investing and which types of investments I can go with, etf, mutual ect ect.

Yes and No.
How did you learn poker ?
You played with friends, again and again ?
Well, trading is far more complex than poker.
But you got to try, open a demo account with Interactive Broker.
You won't be able to trade real money with them as you need 10K.
But you can play with everything (Stocks, Futures, Options ...) in demo.
Since you're "under funded" look for options and futures. Stocks are expensive.
Options and futures have a lower barrier to entry. You don't need "that much".
Futures are really easy to understand. Options are a bit more technical.
Look Natenberg's book for options. For future ... Just try and err.
Think survival. Don't be fooled. Learn from your doubts.
It's a very long journey that you're stepping in.

Should I just load up a trade account and buy $1000 worth of stock and go from there? How can you even decifer which actual companies to invest in? Would amazon be a decent choice?

Not sure that you understand the basics of Risk Management ...
Even if you had a real informational edge on that stock,
You wouldn't jump all in. Nothing's certain.
And your first goal is survival.

Thank you for answering my noob questions. I'm really wondering if profiting 800-1500 a month from doing this is possible.

When you loose an entire account at the speed of the light.
You definitely know that everything's possible =P
But it's easier to make 1k from 100k than 1k.
So you'll first have to build up ... But ...
First you'll have to blow up.
Wish you to bypass it.

Demo a bit to understand what you're trading.
Then Get your skin in the game. Lose benign amounts.
That's how we learn, then learn from all your infinite mistakes.
And as your account grows, you'll be able to increase your size.

 

[rmorse]

Hello, I am 29 years old. Don't have any stock trading experience but have been doing marketing/internet stuff for my entire life basically. I also play poker professionally (in the sense that I pay my bills with it) so I understand the basic concepts of risk management.

I'm trying to decide what the best way to do this is. Understanding all the different types of things that go into investing and which types of investments I can go with, etf, mutual ect ect.

I guess my actual questions are
Should I just load up a trade account and buy $1000 worth of stock and go from there? How can you even decifer which actual companies to invest in? Would amazon be a decent choice?

Thank you for answering my noob questions. I'm really wondering if profiting 800-1500 a month from doing this is possible.

No, making 100% or more on a $1000 account is not a likely outcome. If you want to "invest" $1000, pick a mutual fund or ETF and make an investment. If you want to "trade", you need more money. Try a paper trading account and try different strategies until you can build a trading strategy and get your available cash for trading up around $50,000.

 

[Pekelo]

Well, eliteinvestor.com is ====> that way. Also there is this magical new invention called the interwebs, where all kind of investment advice can be had, if one has the time to research it.

1K is such a small amount that you might as well buy lottery ticket with it or a weekend somewhere. If you really want to invest more in the future, I hope you will spend more on research than a quick question on the wrong board...

 

[El OchoCinco]

Hello, I am 29 years old. Don't have any stock trading experience but have been doing marketing/internet stuff for my entire life basically. I also play poker professionally (in the sense that I pay my bills with it) so I understand the basic concepts of risk management.

I'm trying to decide what the best way to do this is. Understanding all the different types of things that go into investing and which types of investments I can go with, etf, mutual ect ect.

I guess my actual questions are
Should I just load up a trade account and buy $1000 worth of stock and go from there? How can you even decifer which actual companies to invest in? Would amazon be a decent choice?

Thank you for answering my noob questions. I'm really wondering if profiting 800-1500 a month from doing this is possible.

Maybe most here are too nice, but here are some observations:

1. $1000 is not enough to do much of anything except maybe trade 1 contract of ES. But you are a complete novice (poker is not a trading system) and you will lose it 99% guaranteed.

2. If you are poker pro then you are making just enough to pay your bills or you would have more money free to build up a trading account or you would be making enough money to not have to look for get rich quick scheme (which is what an expectation of making $1000 a month on $1000 stake is).

3. You should either focus 100% on poker and become better at it (WSP level) or hold off trading until you have a bigger bankroll

4. Spend a small part of the $1000 on education with some trading books, read as much as you can on long-term investing and forget day trading for right now.

5. No you will not profit $1500 a month on a $1000 account since the margin for futures is way above that for 1 contract, I doubt a broker will give you intraday margin for $1000 bankroll.

Good luck and wait until you have more money to lose in trading for the first time.

 

[Wingz]

Not enough money to trade conventional markets in my opinion. Something like wealthfront/betterment in the US or nutmeg in the UK. The problem with only $1000 dollars is that you'll be eaten alive in commissions, the suggestions above cut out that issue with very low yearly fees and enable a fully diversified portfolio.

If you're interested in a crazy gunslinging world where multiple times your investment can be made then I'd suggest cryptocurrencies. Things like bitcoin and now, etherum.

Check out www.coinmarketcap.com, to get a feel for some of the moves.

 

[OptionGuru]

$1000 is plenty for long OTM option trades of about $200 each.

Read: Options Trades For Capital Growth

 

[Redneck]

Likely will think I'm a dick for answering the way I do - You can Thank me later

Hello, I am 29 years old.

Doesn't matter

have been doing marketing/internet stuff for my entire life basically.

Doesn't matter

I also play poker professionally (in the sense that I pay my bills with it)

Doesn't matter

so I understand the basic concepts of risk management.

You understand odds

The various types of risk management associated with trading

And the depths to which one need to be versed to properly mitigate

You have no earthly clue

Don't have any stock trading experience ?

First.., and only - thing you've said that matters

BTW - trading and investing are worlds (even universes) apart

I'm trying to decide what the best way to do this is. Understanding all the different types of things that go into investing and which types of investments I can go with, etf, mutual ect ect.

Applying one's self and learning is never bad

I guess my actual questions are
Should I just load up a trade account and buy $1000 worth of stock and go from there?

Would amazon be a decent choice?

There are those here who give investing advice - I'm not one of them

How can you even decifer which actual companies to invest in?

My colleges and I do this (actually trade em) for a living

You wish to walk among us - you've a lot to learn - else your money will be in one of our accounts quicker than you can blink - and we'll be fighting each other tooth and nail over who's account it will end up in

I'm really wondering if profiting 800-1500 a month from doing this is possible.

Investing $1K - no - remove the rose colored glasses

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Look..., we're a bunch of cut throat sharks - we'll remove your money from you with absolutely no compunction - then leave you at the side of the road stripped bare ass naked

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Learn to manage your money

Learn the power of compound interest

The mkt will be headed down before long - maybe not this year - but soon - invest when things are lower

And invest in the necessities of life - when they're relatively cheap (energy / metals/ food staples).., or blue chips (for the dividends to re-invest)

Real-estate is always a good investment (only so much land exists) - just buy when it relatively cheap

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You want to learn to trade - plan on it taking a solid 10 years of studying.., failing..., re-starting..., re-learning

And frustration / internal hell like you've never know..., nor could ever fathom

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Success Sir

RN