Stock Market Websites

[Klipper22]

I could put this in a variety of threads, but my comments are especially forcused on the intentions of many pinksheet plays and the websites that discuss them in a "not so professional" manner. A friend of mine got to me when he posted that he was being bashed on MSN for pincher plays. I gotta speak my mind about what I think of most stock market message boards. They suck. Yahoo, IHUB, Google, MSN, PennyProfilers (I think they actually operate under a different name now), etc. Everyone of them should only be selectively used for the FEW places that you can find honest and ethical traders. Most of them are involved with pumps and definitely have alternate adgendas. UNDERSTAND THAT! I'm not saying that those places do not have some solid technical or even fundamental traders because they do, BUT....you better know what you are doing to seek those people out on those boards. Many (or even most) do not give 2 poops (keeping the language clean) about you or your money. Believe me. I have been around this game for a long time and have been approached by MANY of them about promoting stocks. They are in it for themselves and will take every nickel that you have with no regard for you. I (and the people I associate with) always try to beat this into people's heads, but it bears repeating. You are far, far better off frequenting a small forum that may not be as active with 1,000's of posts everyday and knowing that the people around you genuinely care if you lose money about stock plays that are being discussed. You will learn more faster and come out a lot better trader in the long run. I have watched countless traders learn from myself and other people on quality-driven sites (such as SMC) and then develop their own trading styles and become very successful on their own. That is not something that you see very often on those other sites. Those people that frequent them are FOLLOWERS. They cannot seem to make their own decisions and plays. Also....follow along with some of those sites and their plays. You will see countless posts about "I told you so" or "this is going to da moon". It is funny how quiet they are about the other 100 plays that they put out there that went absolutely NO WHERE. Or how they post on plays that are skyrocketing as they make the post and then promptly collapse. Find out how easy it is to get out of some of those plays once you get in after it has already starting running like crazy. It's not easy and often results in quick losses. These people often like to refer to themselves as "momentum players". Watch out for no volume momentum plays unless you know exactly what you are doing and how to play them. IMO, stick with technical analysis. Especially the basics of it when you are getting started in the stock market trading game. Don't be lured in by 10 baggers and quick, massive gains. Be SMART and learn who you can listen to. Secure profits and then learn how to buy and sell based on trading patterns. This ONLY comes with experience and learning what makes you comfortable. Take it slow and don't EVER let anyone bash you for being and honest stock trader.

[Razorback]

Originally Posted by Klipper22

I could put this in a variety of threads, but my comments are especially forcused on the intentions of many pinksheet plays and the websites that discuss them in a "not so professional" manner. A friend of mine got to me when he posted that he was being bashed on MSN for pincher plays. I gotta speak my mind about what I think of most stock market message boards. They suck. Yahoo, IHUB, Google, MSN, PennyProfilers (I think they actually operate under a different name now), etc. Everyone of them should only be selectively used for the FEW places that you can find honest and ethical traders. Most of them are involved with pumps and definitely have alternate adgendas. UNDERSTAND THAT! I'm not saying that those places do not have some solid technical or even fundamental traders because they do, BUT....you better know what you are doing to seek those people out on those boards. Many (or even most) do not give 2 poops (keeping the language clean) about you or your money. Believe me. I have been around this game for a long time and have been approached by MANY of them about promoting stocks. They are in it for themselves and will take every nickel that you have with no regard for you. I (and the people I associate with) always try to beat this into people's heads, but it bears repeating. You are far, far better off frequenting a small forum that may not be as active with 1,000's of posts everyday and knowing that the people around you genuinely care if you lose money about stock plays that are being discussed. You will learn more faster and come out a lot better trader in the long run. I have watched countless traders learn from myself and other people on quality-driven sites (such as SMC) and then develop their own trading styles and become very successful on their own. That is not something that you see very often on those other sites. Those people that frequent them are FOLLOWERS. They cannot seem to make their own decisions and plays. Also....follow along with some of those sites and their plays. You will see countless posts about "I told you so" or "this is going to da moon". It is funny how quiet they are about the other 100 plays that they put out there that went absolutely NO WHERE. Or how they post on plays that are skyrocketing as they make the post and then promptly collapse. Find out how easy it is to get out of some of those plays once you get in after it has already starting running like crazy. It's not easy and often results in quick losses. These people often like to refer to themselves as "momentum players". Watch out for no volume momentum plays unless you know exactly what you are doing and how to play them. IMO, stick with technical analysis. Especially the basics of it when you are getting started in the stock market trading game. Don't be lured in by 10 baggers and quick, massive gains. Be SMART and learn who you can listen to. Secure profits and then learn how to buy and sell based on trading patterns. This ONLY comes with experience and learning what makes you comfortable. Take it slow and don't EVER let anyone bash you for being and honest stock trader.

Good post Klip. This is definiately about the only site I have that seems to have a very civil discourse. Thanks everyone for making this site the best.