Q. What is the difference Between the Bid and the Ask @ kalbrecht905
A. Bid is the price you sell Ask is the price you buy.
Q. What apps or website do you use for reference @mattmacc1985
A. I use hereit1st.com of course ( little joke). Seeking Alpha, Yahoo Finance, Motley Fool, Bloomberg, Ibillionaire, yahoo finance, Also try to follow people that have a tremendous influence on the stock market for example Warren Buffet, Carl Icahn, Jim Cramer.
Q. Are there any books you suggest for trying to learn. @itslos007
A. I personally never read books about the stock market, I used Investopedia. Try to take a business course in high school/college so you can understand how the market works. How politics effects everything from oil to currencies. Best way to learn about the stock market in my opinion is to follow the news, Simulate, using the app that i recommend to my followers is ( Stock Market Millionaire)
Q.How to Evaluate stocks and read key statistics? Kind of a generic question @stockmarketnews
A. There 2 different ways to analyze stocks. Fundamentally or Technically. If you are a Fundamental trader you are more likely to be a Buy and Hold type of trader as you analyze corporations financial statements which includes earnings, Guidance, Long term outlook. Fundamental analysts also look at company’s advantages and disadvantages, the company’s competition in the market. A technical trader mostly focuses on the short term outlook of a company. By analyzing sophistocated charts using methods such as support/ resistance, information from the past and factors such as volume. Technical traders also can be used to forecast the direction of the stock price, for example a technical trader could make money if a stock goes down by trading options.
Q. This is more of a personal question is your income mostly dependent on stocks? @lparr_
A. We currently have 4 traders/authors on our staff. I am the only that has a part time job. I work at the Central Queens Y in Forest Hills, New York. In addition our staff consists of full time students so we usually do not have time to work.
Q.Strategies for getting in and out of pennystocks? Tips on how to sell penny stocks when no one is buying. Where do you look for OTC, stock and option news? Do you use level 2 trading, what is it?
A. As the exclusive penny trader on our staff I am sure that all my followers, subscribers know that I never hold pennystocks over night( it is just a personal preference) . IF i make a decent profit i usually sell the stock by closing. I will not risking losing my profits and at worse my initial investment over night. After all these stocks are in the OTC markets for a reason. If there is no volume for a particular penny stocks you might not be able to sell. For Example i bought UMDI a while back at .048 it jumped to .095 and i could not sell it because of the lack of volatility. Now that you bring up selling when no is buying I think a great way to make money is buying when no one is even looking. To keep up with the OTC i usually check out boards on Investorshub.com or i go to OTCmarkets.com because major news anchors hardly announce news on OTC stocks. I do not use level 2 trading so i cannot answer that question.
Q. What trading platform would you recommend Etrade, Scottrade , TD Ameritrade Charles Schwab
A. I personally have scottrade but I think it’s really dull. Scottrade is 7$ per trade. TD Ameritrade is 10$ a trade but their trading platform TOS Think Or Swim is phenomenal. So yea it’s between TD Ameritrade/ Scottrade
Q. Are you a technical analyst or a fundamental trader.
A. I believe we have that in our bio. I am personally a fundamental trader when it comes to finding a long term stock. I recently started to look into technical trading due to options. Juan is also a fundamental trader, Cortes our Forex and Option trader is a technical analyst. Nick our exclusive forex trader uses both fundamental, technical techniques when trading currencies