Hello, biz my stock portfolio is god awful. let's just put it out there I tried my luck with penny stocks and the like and I'm in the red $3300 dollars I'm really new to the stock market. I was prepared to lose what i invested it was some savings that i figured I'd try my hand in multiplying with so I'm not broke or anything. My total account value is $2700 and I have a little over $800 to spend that's currently in my account. Any ideas on how to make this money grow really well over the next.. I don't know.. 5 years? I'm just looking for any general advice or stock tips or anything really.
Hold your horses: let the stocks sit
Only the truly skilled, and truly lucky, can consistently predict the rise and fall of stock markets.
Right now, shorting the SP or Nasdaq would be a good idea, but since you are already invested and at a loss, just try to wait it out.
Buy and hold, see what happens, maybe you will get that lucky 10.000% increase on your penny stock
Or maybe not. The stock market is half gambling after all.
Yes 9 is ok.
You just don't want to be buying under $1k at a time because if your broker's fees are $10/trade then you're spending over 1% to buy it right off the bat... Not really recommended. 1% is tolerable though.
It won't gain you "a lot". This is what's known as "long-term investing". Over the course of years it will earn you an average of 7-8% per year.