I have 10k and want to double or triple it don't know how? need some help thanks!?

Question

I'm thinking about arbitrage trading,

Answer 1

great idea, if you want to do it in a month, and then triple it ever month for a year, you will have over $5 BILLION dollars at the end of the year.

Let me know if you figure it out

If you have enough time, then put it in a 23 year CD at 5%. You will triple it in 2030

Answer 2

never invest any money you aren't prepared to lose. you are looking for a pretty high return, what is your time frame?? even the best stock market gurus can't double, let alone triple, their money at will. the best bet, if you really aren't knowledgable on the investment, is to diversify. i would consider putting some rainy day money aside in a high yield savings account - emigrant direct, hsbc, ing, etc. you can open up an online brokerage and trade stocks - but this is very risky. scottrade and sharebuilder are low cost brokerages. real estate can be great, but also risky. you'll be hard pressed to do much with 10K, but it all depends on the area. i would put the money into the high yield savings account and start educating yourself. don't make any rash decisions and stay away from vegas. good luck.

Answer 3

Arbitrage is a highly specialized form of trading and less and less possible by the now globally connected markets and not suitable for people that are not experienced in this field. There are other ways of investment that can double, triple your amount (or more), but it depends all on your risk profile, and especially the period of time you want to reach the doubling etc. Because I don't know that I can't give you a good direction now. Feel free to contact me anyhow.

Answer 4

In order to double or triple your money it is going to take an enormous amout of research and insight. You will have to buy risky stocks where you are just as likely to lose your money as you are to double it. In general, the more greedy you get in the stock market, the more likely you are to lose your shirt! Generally, investors who are committed to a slow and steady approach do the best.

You will need a lot of resources. You should take a look at what the best investors are buying and selling. You can find this information at http://www.top10traders.com - this is a free site that lets you create a portfolio of stocks with $100,000 in "play" money. Each day the site ranks the best performing portfolios, so you can see how your picks perform compared to other investors. You can also read posts on investing from the best traders, as well as share your own investing ideas. There is also a charting feature , so you can see how your portfolio performs compared to the S&P 500.

Here are this month's best traders:

http://www.top10traders.com/Top10Standings.aspx

Good luck.

Answer 5

DON'T WE ALL, CUPCAKE.
F**K HOUSE FLIPPING, THAT WAS GOOD LAST 5 YEARS WHEN ALL REAL ESTATE DOUBLED OR TRIPLED..NOW IT'S ON THE SLIDE.
BIG RISK MUST BE TAKEN FOR BIG GAIN.
TRY INDIA MUTUAL FUND...MINDX
OR LATIN AMERICA FUND...FLATX

DON'T DO ARBITRAGE YOU'LL GO BROKE QUICK.

MAKING MONEY IS THE HARDEST THING TO DO IN THIS WORLD.

SLOW AND STEADY WINS THE RACE.

TRY THOSE FUNDS...THESE ARE COUNTRIES THAT ARE EMERGING FROM THE OLD WORLD TO THE NEW WORLD AND WILL OUTPACE EVERYTHING ELSE, BUT IT WILL TAKE 5 YEARS AT QUICKEST....

CONSERVATIVELY 20 YEARS TO TRIPLE SAFELY...IF YOUR BETTER THAN AVERAGE.

DON' BE SAD
GET REAL.

NO FREE LUNCHES

Answer 6

like the dude above SAID nothing comes easy ...except your best Friend's girlfriend on NEW YEARs.. I start nibbling at Real estate....Let it drop or watch it DROP...see the last Real estate crashes were in 1987 and 2001 the diff is 14 years and everyone agrees that the market over all performance since than has been 2X thoses 14 years...meaning that 14:- 2= 7 years, SO 2001+7=2008 the math's a-little off but ,the BUBBLE isn't...look for that correction....

Answer 7

The smartest thing might be a 401K (especially if your employer matched your contribution--a quick double) where you choose how it is invested. Start with an index fund loaded with dividend paying stocks. Then set about learning. It is a forced savings account and will serve you when you retire.

Keep in mind the best funds only average 10% a year over time. On your own (once you are educated) you can do much better.

Answer 8

10K is too small to invest in arbitrage.

The best way to become wealthy is to live beneath your budget and work for a living.

Get a second job. Earn 20K excess in one year. All of it is risk free and above your current budget. It's amazing how easy it is to save money.

Answer 9

Hi,

Arbitrage trading is great option but I have doubt that you would be allowed to trade it with such small amount. Furthermore you should be licenced trader/broker.

Why don’t you start your own forex or shares trading. Forex and shares trading is very exciting and highly profitable business. So you could double your amount.
I could introduce you to one brokerage company in Austria that allows to trade from same account currency (forex), commodities, metals and cfd on shares. Total 500 instruments available; spread from 1 pip. If you open trading account under my referral I provide you for free with trading techniques that I successfully use for several years and you’ll get my assistance in the future.

Another way is that you could find trader who accepts private investments and invest with him/her.

If you have any question please do not hesitate and apply to me via pm or e-mail (press on my name)

Answer 10

If you dont need a quick return, how about a risk free gamble? try premium bonds, you dont get interest but you do get a monthly shot at 2 £1 million prizes and a bunch of others as well, have a look at the list of big winners here http://www.nsandi.com/products/pb/winnerlist.jsp
plenty of those have stumped up less than 10 grand and you can always get your money back.