Discussion StockCels, GTFIH

[StSausageCel]

Please brothers, how do I get started? I'm tired of always saying I'll start,and then losing motivation before I start.

What the the best resources for learning this shit? And what advice do you have for absolute beginners? I really want to moneymaxx at a young age, but I'm scared of losing money.

The only money I have currently is what I wanted to use on a new phone, but after hearing stories about a few guys in my neighborhood who are getting big bucks from trading, I decided to use that money as capital for starting trading instead.

I'm tired of always having to ask Mommy and Daddy for money. I'm 18 FFS. Please help me

 

[Deleted member 24876]

but after hearing stories about a few guys in my neighborhood who are getting big bucks from trading

Did they make money off options or something?

 

[StSausageCel]

Did they make money off options or something?

I have no idea what an option is

 

[Deleted member 20139]

buy high sell low

 

[Deleted member 24876]

I have no idea what an option is

Its basically a bet on if a stock can reach/pass a certain price by a certain day. Back in the summer that was how most chads made their money since tech stocks(at the time) were only going up. It's possible to make a lot of money since options are bought in packs of 100 but now options aren't as profitable.

 

[Total Imbecile]

I have no idea what an option is

You dont have to understand any of it

Just buy TSLA and SPY calls

 

[Robtical]

Why not get crypto instead?

 

[StSausageCel]

You dont have to understand any of it

Just buy TSLA and SPY calls

Are they legit?

 

[Babica Yaga]

Just buy TSLA and SPY calls

Found the /r/wallstreetsbets gambler

 

[grondilu]

I got started in stocks by buying pretty much one share of every single publicly traded companies, AND NOT SELLING.

Of course, I had a job a the time, so I wasn't relying on stocks to make money.

At 18, you probably don't have much money to invest so you won't make much in the short term. Find a job of some kind, be a cheap MF and invest as much as your salary as you can afford to.

Then, be patient.

 

[Deleted member 26032]

I got started in stocks by buying pretty much one share of every single publicly traded companies, AND NOT SELLING.

Of course, I had a job a the time, so I wasn't relying on stocks to make money.

At 18, you probably don't have much money to invest so you won't make much in the short term. Find a job of some kind, be a cheap MF and invest as much as your salary as you can afford to.

Then, be patient.

For how long?

I did what you said basically but every thing gets way more expensive way faster than it makes a difference whatever you save from wageslaving

 

[grondilu]

For how long?

For ever. Never sell, ever. Just be content with the dividends. Consider the nominal lost the moment you bought the shares.

That being said, it's the theory. In practice, I sometimes sell when I need money or when I lose confidence in the system because I'm disgusted by taxes.

 

[Lowdickenergycel]

@PPEcel thoughts?

 

[PPEcel]

DO NOT DAY TRADE.

Do not invest with the expectation that you will be wealthy in weeks or months. Be patient.

Chances are, you are better off playing it safe, investing in blue chips and index funds. Since you're only 18 you can afford to have a pretty big risk appetite, compared to a boomer, but I'd still discourage gambling.

First get a grip on the fundamentals. Macroeconomics 101 -- how interest rates and bond yields interact, what GDP is, how unemployment is calculated, et cetera. Then learn about different financial products -- what short selling is, how options spreads work, etc. Do regularly read the WSJ or the Financial Times or whatnot so you have a good picture of current events.

Then do some research on brokerage accounts. Examine their fee structure and products to see which one would best fit your investment strategy.

With a few hundred dollars it's highly unlikely that you'll realize any significant profits, but the skills you pick up will serve you well into your later life.

 

[StSausageCel]

DO NOT DAY TRADE.

Do not invest with the expectation that you will be wealthy in weeks or months. Be patient.

Chances are, you are better off playing it safe, investing in blue chips and index funds. Since you're only 18 you can afford to have a pretty big risk appetite, compared to a boomer, but I'd still discourage gambling.

First get a grip on the fundamentals. Macroeconomics 101 -- how interest rates and bond yields interact, what GDP is, how unemployment is calculated, et cetera. Then learn about different financial products -- what short selling is, how options spreads work, etc. Do regularly read the WSJ or the Financial Times or whatnot so you have a good picture of current events.

Then do some research on brokerage accounts. Examine their fee structure and products to see which one would best fit your investment strategy.

With a few hundred dollars it's highly unlikely that you'll realize any significant profits, but the skills you pick up will serve you well into your later life.

I'm studying economics currently in uni, if that counts for anything.

I'm NGL, that seems like a lot of work. The people I know who gain from day trading, don't really seem to be putting so much effort into t yet they get profits. There is a certain 19year old I know who was able to buy an iPhone XR after investing what he claims to be about $200.

So I basically shouldn't consider trading?

 

[grondilu]

So I basically shouldn't consider trading?

You shouldn't. With trading, you only get the money that others lose. It's a zero sum game. Do you really think you'll be amongst the winners ?

Invest long term. Then the money you make comes from the economic activity of the companies you buy.

 

[SuccessfulShark]

Start with index funds then learn long term investing and then go for day trading if you want to have fun.

You shouldn't. With trading, you only get the money that others lose. It's a zero sum game. Do you really think you'll be amongst the winners ?

Invest long term. Then the money you make comes from the economic activity of the companies you buy.

It's actually a negative sum game since you have to pay taxes and commissions its stupid and a terrible idea.

 

[WizardofSoda]

Ya but trading is the only way to make money fast in stocks. I agree with don't do day trading as imo its too random how the stock might move through one day. Like maybe more buyers or more sellers showed up for whatever reason that day.

I'm up 11% in just the first 4 days of trading this year as there has been a big up move on the stocks I am in. Although it could fall back too, some weeks I am down from the prior week.

My friend in the office next to mine he is trading blockchain coins. He invested ~$125-150k over the last 4 years or so. He was actually down to $40k at one point last year. But now hes up to $480k.. I just asked him this morning since Bitcoin was so high.

There is all sorts of strategies for trading.. trend trading, buying low, small moves, big moves, all sorts of short strategies, and options which I don't know much about options.

Years ago I read parts of a book on trading that had a very interesting point. The writer found 4 or 5 guys who made a career out of their trading this was back in the 80's or something. Anyway all the guys had a different strategy, just they got good at their strategy over time.

 

[GermaniaIncelia]

if invest you hodl

if trade you cut losses early and cut wins late

 

[PPEcel]

I'm studying economics currently in uni, if that counts for anything.

I'm NGL, that seems like a lot of work. The people I know who gain from day trading, don't really seem to be putting so much effort into t yet they get profits. There is a certain 19year old I know who was able to buy an iPhone XR after investing what he claims to be about $200.

So I basically shouldn't consider trading?

It's survivorship bias.

People who lose their money day trading aren't going to talk about it. It's the lucky ones who won't stop talking about it.

So most of the time you hear about day trading, it's from people who gambled and won.