what do you say when people ask you for tips/advice?

G

Gordon Gekko

say a friend knows you trade.....or a random person you don't know much knows you do and asks for a stock tip or trading advice. what do you say?

there are really 2 types of situations..

you want to help the person or you don't.

if you want to help them, then, obviously you start helping..

but say your boss or a friend of the family that you don't like asks and you don't want to help them. what do you say to not come off in bad way? obviously, "stock tips" are bogus, but what if someone asks you how you trade and you don't want to tell them?
 
I will show someone several financial and/or TA resources and web sites that can help someone become a more knowledgeable investor, --- but I never give a specific stock recommendation.

It's just too easy to loose friends over something like that.

Just my $.02

--- Cuddley
 
" Tipping is for cows " :p

Just tell them how much $$ you've lost trading on tips before, and that now, you have to work hard for each trade. Ask your boss did he have to work hard to be where he is (boss) ? Unless it's the boss' son, I think he would understand.
And if they still insist, give them an entry point, a stop out, and an exit (profit) point. And if their greed made them loose $$, than they may learn a thing or two.



... darn! I should be outside enjoying the Sun!!!



Cheers!! :cool:
 
Originally posted by dojibear
" Tipping is for cows " :p
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lol.

You could turn it around. For example, ask an architect for tips on how to design a high rise.
 
Originally posted by chasinfla


lol.

You could turn it around. For example, ask an architect for tips on how to design a high rise.
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yeah - or ask a surgeon how you can make yourself a new nose next weekend. :D
 
I was given a big tip to buy QCOM in 1996. Of course, I didn't. My buddy did, took 100k to 10 million.

(Then again, he did not take my advice on hedging it when it hit 800 pre-split. He still owns it. )

He even called me one morning and asked me, "Have you ever been up a million pre-market? I have!" Then he hung up on me while he laughed!

It was the only tip I ever heard of that came out good.
 
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