Stock trading for a rookie

NCMedic said:
50/50....
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For long term, I’d automatically invest a fixed amount from each paycheck in a low cost S&P index fund. I’d do it regardless of what’s happening “in the market”. Set and forget.
 
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Jeppo said:
For long term, I’d automatically invest a fixed amount from each paycheck in a low cost S&P index fund. I’d do it regardless of what’s happening “in the market”. Set and forget.
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I already do this with a Acorns account in addition to my 401K...so let's say I just want to play around in the stock market to generate fun funds.
 
I started playing in penny stocks 2 years ago. I used (and sometimes still do) reddit r/pennystocks as a way to screen through and find a ticker I wanted to research myself. DON"T TAKE ANY ADVICE AT FACE VALUE on there or on the website stocktwits. People have realized that when they are in a position it benefits them to "pump" it up on social media sites. Do you own research, read other peoples research on the two previously listed sites. Another thing that was very beneficial to me was joining a discord group of people who traded stocks and then a different one for options if you decide to go that route. I think the first one I joined was $5 a month and had about 100 people who looked for chart setups and scanned news daily, posting results and finds in the forum for people to look at and decide if they wanted to play that particular ticker or not. I recommend Webull to people who are starting out, because it's pretty intuitive (not as nice as robinhood, but screw them). One major thing to know and consider is that unless you have 25K in your account at the close of the previous day, you are limited to 3 day trades (buying and selling in the same day) in a 5 day period. If you have any particular questions, feel free to pm me. I'm no expert, but I'm willing to share the small amount of knowledge I've acquired.
 
Welp..... I'm rich now.

Decided to play around with the Charles Schwab stock slices today....made a whopping $0.83.

Just enough to buy one round of 9mm. 😂
 
I’m actually up 36% on my CCIV stock I bought last week. I sure hope they merge with Lucid! It’ll probably be $45-50 or more a share then.


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slow is slow said:
Gonna be a hard lesson learned here for some. And I'm sure that there are some willing to lose a little bit to get the feeling that they are sticking it to the man, but there are others who dumped rent money etc into this who will suffer. I got no problems with it, as someone else stated, it's just educated gambling. I got in and out a few times, keeping tight trailing stops, knowing that the bottom would fall out eventually. One of my new plays (if anyone is interested in supporting a firearms related ticker) is POWW. They are AMMO Inc and have a earnings report coming up on the 12th. They had a 2 day spike from 2.50ish range up to almost 9 dollars back in January, but have settled back in around 5 dollars. I went in heavy on shares and March call options when they dipped below 5 at the end of last week, up pretty nicely now, but I'm looking for about $10 share price after earnings. Small spike so far today due (i believe) to news about expansion on their 50 cal line and the beginning of a runup to earnings. And as always, I'm just a nobody redneck from pumpkintown SC, and not a financial advisor by any means.

and as I'm tying all of this out, its running pretty hard.
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If anyone is playing along at home, AMMO passed 9 dollars this morning, almost doubling since my feb. 2 post. They announced this morning the intention to buy gunbroker.com.
 
ETF, exchange traded funds, are a bundle of companies you can invent in vs just one or two stocks.
They trade like the individual stock vs a mutual fund that settles the trades after the close of the business day.

Here are a few as an example.

FUTY | ETF Snapshot - Fidelity

Snapshot for the FIDELITY MSCI UTILITIES INDEX ETF ETF (FUTY), including recent quote, performance, objective, analyst opinions, and commentary.
screener.fidelity.com

Mutual Fund Results - Mutual Funds Research | Fidelity Investments

Fidelity offers over 10,000 mutual funds from dozens of different mutual fund companies and can help you find the right ones for virtually any investment need.
fundresearch.fidelity.com fundresearch.fidelity.com
 
Let’s bump this one up. It’s been a wild ride the past couple weeks.

I use, and highly recommend TD Ameritrade’s Think or Swim app for investing/trading.

@B00ger, I thought about opening up an “acorns” account to add a little extra I’d otherwise spend on junk. It sounds similar to the stash app you described. You still pretty happy with it? How much do they charge per month?
 
SpecialK said:
Let’s bump this one up. It’s been a wild ride the past couple weeks.

I use, and highly recommend TD Ameritrade’s Think or Swim app for investing/trading.

@B00ger, I thought about opening up an “acorns” account to add a little extra I’d otherwise spend on junk. It sounds similar to the stash app you described. You still pretty happy with it? How much do they charge per month?
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I’m very happy with it! I only think it’s like a buck a month or so. I haven’t really paid attention to how much as it misses the radar. I’ll verify again tomorrow.


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My brother in law was a biochemist for GSK in RTP, was downsized (his entire department), and chose to take the sep pay rather than relocate to Philly or London. Anyhoo, he read all the books, all the websites, watched all the YT vids, decided instead of 'working' he'd be an at-home trader.

He's made some money, lost a boat-load (tens of thousands of dollars), made very questionable investments. They are no better off financially than when he worked fulltime at GSK, able to maintain about the same income, but not reeling in the bucks.

Me, I don't really have the head for it. My retirement money is in 401K and IRAs.
 
I've been in almost 2 years now, mostly day trading options so I don't carry any risk overnight. I've learned that you have to set yourself up some rules and follow them to a fault. The first six months I had wild swings of being up 10k and losing half of it the next day etc, but after some reading and learning (of which there is still plenty to do for me) i've been able to settle down a little and have a more slow and steady growth without the wild swings.
 
For those of you in the Reddit stocks, I have a question…

Do you have an exit strategy? If so, what’s the trigger?
 
Jeppo said:
For those of you in the Reddit stocks, I have a question…

Do you have an exit strategy? If so, what’s the trigger?
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the first rule of exit strategy is that you don't talk about exit strategy?
 
Jeppo said:
For those of you in the Reddit stocks, I have a question…

Do you have an exit strategy? If so, what’s the trigger?
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When shorts actually cover and the HF managers have lost everything, then I'll sell.

GME and AMC are squeezes, neither based on company fundamentals. - There is plenty of data to support they haven't covered, and further data to support the short positions are being done in dark pools, well beyond the actual amount of shares available.

The HFs, namely Citadel, are already in deep crap and losing millions every day; once there is a margin call, it's game over for them.

As for exit strategy price? Obviously nobody can say what price it will hit, but theoretically, if people continue to hold, and the HFs are obligated to buy the shares back, the price would continue to rise.

r/amcstock
r/gme
r/superstonk




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IrishCannon said:
The HFs, namely Citadel, are already in deep crap and losing millions every day; once there is a margin call, it's game over for them.

As for exit strategy price? Obviously nobody can say what price it will hit, but theoretically, if people continue to hold, and the HFs are obligated to buy the shares back, the price would continue to rise.
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what if their execs just soak up money until the call and then let the company default and go bankrupt? then your $4 stock that was suddenly worth $350 has zero demand at all...
jebus knows they're probably already opening up other personal businesses to do "work" for the company to steal everything they can. Has anybody checked their operating costs for the last quarter vs every other quarter?
 
DrScaryGuy said:
what if their execs just soak up money until the call and then let the company default and go bankrupt? then your $4 stock that was suddenly worth $350 has zero demand at all...
jebus knows they're probably already opening up other personal businesses to do "work" for the company to steal everything they can. Has anybody checked their operating costs for the last quarter vs every other quarter?
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The company as in AMC/GME? - or do you mean the HF?

This is a play against shorts by the HF, specifically naked shorts, which they are legally obligated to cover and close positions upon a margin call.

Naked shorting is illegal but still done all the time.

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While I played and did well on some meme stock options, I don't believe there will be any large scale (2x+) moves on amc or gme. And tying up capital in them for six or twelve more months waiting for a huge short squeeze doesn't fit into my trading plan. I applaud those who have held, but the risk to reward on those is more lop sided than I prefer.
 
slow is slow said:
While I played and did well on some meme stock options, I don't believe there will be any large scale (2x+) moves on amc or gme. And tying up capital in them for six or twelve more months waiting for a huge short squeeze doesn't fit into my trading plan. I applaud those who have held, but the risk to reward on those is more lop sided than I prefer.
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IMO, I'd look into the data and if you feel comfortable, throwing some IDC money into it, set some price alerts and let it do it's thing.

From my position, the only legitimate options regarding "meme stocks" are GME and AMC; everything else is a distraction.

What my biggest interest is is how this will effect the market as a whole; millions of young people are waking up to how manipulated and corrupt the market is...what will that mean for the market going forward when those same people distrust government and the US economy?

Checkout the doc Inside Job...I saw it a long time ago but now we have all these young kids just starting to save watching this, losing complete faith.

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