What you’re suggesting, putting $1k into one or two… ‘high return with quick turnaround’ companies, is probably going to quickly relieve you of some funds, or maybe will give you a big return and a false sense of confidence and skill.
It is extremely rare to find anything you can invest in with large returns you can confidently expect in a short time with low risk.
I started out day trading, with a similar plan to yours, did extremely well, and thought I was a genius because I turned $2,000 into $20,000 within a couple of months. I didn’t realise any idiot with a similar strategy of throwing money at speculative companies would have achieved a similar result given I just happened to have started in the bull run following the 2008 GFC, and I was a little confused and frustrated when that bull run ended and the challenge increased.
Paper trading has its uses and is good for some people, but the most powerful force on the stock market is psychology, and for most people the most important thing is to manage their own psychology, not maths, statistics, analysis etc. Paper trading takes the psychology out of the equation. There is no fear or greed when you are paper trading, so almost everyone makes much better decisions with it than with real money, and then when they start playing with real money they suddenly start losing it and freaking out, unlike the successful paper trading they were building up their confidence with. By all means use it, but be aware of the psychology involved.
The best thing about starting an extremely risky strategy with only $1,000 is that it’s a trivial amount of money and so at most you’ll lose a trivial amount of money.
Everyone can give you their tip for the best company, you’re welcome to look at mine in the tipping contest (DEL, and yes, I expect it to go well including in the short, medium and long term and yes, I have a non trivial holding) but unless you understand what you’re doing, you shouldn’t blindly follow me or anyone else. Actually, a few years ago I ran an analysis of the results of everyone who had taken part in the stock tipping contest over the previous 10 years to see if anyone did well enough that I might want to follow them and use them as a guide… I was amused to find myself in the top 3 even though I sometimes make deliberately silly choices with stocks I’d never actually touch, and there was no one including myself I’d think was a good idea to blindly follow.
By all means, risk your $1,000 if you want to, but I’d be looking at it as investing $1,000 in a learning experience rather than a direct financial investment. If it was easy for a newbie to get rich quick starting with $1,000 by simply asking for tips on an open public forum… well, you join the dots. It’s not realistic.
