How do you find cheap stocks that one day could become good stocks?

or is it pure luck how much would be a minumum good investment in stock for the future like to hold on for at leats a decade and hopefully it grows

Your question is the one that every investor would like to know the answer! It's not so easy to explain, and even when you 'know' what you should do, it's not so easy to do it!

Do a net search on 'CANSLIM' and 'stocks.' CANSLIM refers to a system of evaluating stocks developed by a very succesful Wall Street trader named William O'Neil. His system is very down to earth, very practical, and works very well over the long term.

But in addition you MUST educate yourself on how to allocate your funds and how to manage your portfolio. How to pick stocks is one thing, but how much to invest in any one idea, or what to do when it turns out you were wrong (and trust me, you will be wrong sometimes!) is equally, if not more, important.

This is largely a form of the Warren Buffett strategy, so it works, but you have to be like him and do your homework. You might want to try reading Mary Buffett's "The New Buffettology."

You need to do due diligence on any stock you want to buy.

Remember as the ultimate goal is to make money, if you look at dividend paying stocks, you get paid all along.

You can decide what sectors you want to invest in and research who the leaders are--do they still have legs and room to grow? Can you find up and comers in the field who look promising? Chart them and if they're moving in the right direction a year later, they probably will survive. So you didn't get in on the bottom--so what?

If there were an easy formula we'd all be rich. You have to dig--might as well jumpstart though by having a plan. Personally I think look at ESSENTIALS:

water
energy
food