Investing - Stock Market - Penny Stocks, etc.

Well, I'm a broke college student about to go several thousand dollars or hundred thousand dollars in debt in due to student loans for medicine. I was wondering if you guys have any insight, and knowledge on the actual stock market, etc. I have a broad idea on it, however I've heard that penny stocks are dirt cheap stocks that may yield some good/quick money. Thanks for your time!

Sorry if this is the wrong forum area, was debating between this and user education =X.

 

It's not a good idea to invest unless you have a lot of knowledge about the stock market.

Sure penny stocks are just a penny. If they go to 2 cents you'll double your money, but they can just as easily got to 0 cents losing all your money.

If you're going to become a doctor you'll be able to pay your debt.

 

you will defiantly need some education otherwise its more or less gambling. Medicine will defiantly help you out in the long term but if you need to repay loans of that size you want a long term and less risk cash flow, try talking to a financial planner?

 

Penny stocks just aren't a smart way to go, unless you are really quite savvy. If you really need leverage and are willing to take risk, you may want to consider stock options.

That said, the stock market in general is for people with extra cash at hand, not those who are trying to dig themselves out of debt.

 

I wouldn't get into stocks now if your already going into debt. Just finish your degree. Since you will be a doctor you should be able to pay off the debts relatively quickly and stocks could just extend the process if things don't go your way.

 

what bubba said, but if u still need some help I can try to advise some stocks. What you can do is buy a stock that is highly stable and yields a high dividend and just make money long term by collecting dividends.

 

What do you want to know? My parents are retired and are making 6 figures in the stock market yearly.

I know basic economics and have a half good understanding on the Australian share market.

Just ask your questions here and we'll do our best to answer you.

 

I made 2K profit in my first day of stock trading with 1K starting. It was made on one stock (AVB.AX) and it was a lucky trade but the best advice I can give to you is, join a stock trading forum and pick up a book on the market.

 

If you're about to go into debt, the stocks are the last place you want to be. They're so fickle and change so constantly that you're more likely to end up with less than what you started with

 

Thanks for all the responses! Yeah, I'm doing a 7+1 year program for internal medicine and the average amount of debt is anywhere from 100-300k in my area. I assume though as long as the health industry doesn't plummet (which it probably never will) that I should be able to make the money back fairly quickly. It's just discouraging to see yourself in that much debt

 

Investing is for people with money they can afford to lose or fools. Which are you?

 

You should probably think of a more logical solution to this dilemma. I wouldn't recommend investing in penny stocks as your return won't do much more than a job can and it's hit or miss.

 

Based on this, I'd say you should not go into the stock market. You might as well go gamble at a casino - your luck will be parallel to the stock market.

Try to find another way mate.

 

Just get a job and work for your money... Long term investments are great because the stock market can't possibly get any more fucked than it is right now. But as for day-trading, the stock market is too unpredictable and has too much influx from day to day to be a solid income.

 

everyone thinks you should stay away from the stock market, you know what to do. dont want to add on to your debt.