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DeCal Works Huge Plastic Inventory of UFO and Polisport kits.
It was up around 50% within the hour
Anyway, if I had a very small amount of money to invest - hundreds, not thousands - is there a way to start an account with Ameritrade or someone else and just start doing it? What can I read up on? Should I talk to a real-life consultant first?
I don't mind treating this like a gamble, because I figure the odds are better than Vegas. I'll be starting small anyway.
As long as you're not counting on it, it makes it simpler. I made a ton of mistakes when I first started, but I learned some valuable lessons too and learned what kind of risk tolerance I was willing to accept. Luckily I did it with just a few hundred bucks and it didn't hurt too bad.
My advice in the beginning is to use sites like investopedia to learn basic terms and teach yourself how to read relevant financial information about companies. There is a correct strategy for everyone, but it might take some mistakes to figure out yours.
One other thing is to ask. If you come across something you think has some potential, you can always ask here or elsewhere for opinions/advice.
I switched from Robinhood to WeBull and wish I never downloaded Robinhood. It's practically useless and the company is sketchy for obvious reasons now.
Great thing about WeBull is if you are not ready to try real money, they a have a "paper trading" mode where you pretty much play with fake money. Might be an okay short-term idea if you just want to try it out and learn with out any real money involved. I'm sure many platforms probably have this feature, but just wanted to make you aware that it exists.
If you are going to do short term trading (buying & selling) start an excel spreadsheet and give yourself $1,000. Pretend that $1k is real and “invest” it however you want. Write down the ticker name, purchased cost, and purchased date. Check the stock each day and track the price in the spreadsheet. If it goes up and you want to sell, write down the “sell” price and see how much money you made. Add the profits to your balance and reinvest it. If it starts going down and you feel you need to sell to minimize losses, record the lost profit from your $1k. Keep doing this for AS LONG AS it takes until you understand the basics and can confidently invest REAL money and have an idea of what’s going to happen.
I promise you this “fake money” method will payoff and it’s a proven method to significantly reduce your starting risks, especially if you are an investing newb. It’s easy to get sucked in and make some bad decisions right off the bat and lose money in a hurry.
If you are going to just long term trade, look towards the bigger companies and tech companies that provided reliable growth YoY.
Pit Row
Jk.....I lost all my money and have no business doing this hehe
You absolutely can do this, don’t let GameStop discourage you. That was a shitshow for everyone involved.
Remember, in the market by the time you hear of a great stock you probably missed it. Do your own research. My largest position right now is Very good food group and they are on the right track for now. Start with what you can lose. I took 12.5k and started a little competition with my daughter recently and its pushing 700k today. I am confident it will be over mil soon as my favorite positions are lining up exactly as planned. I started with very speculative stocks and I took profits and added them to longer growth positions. Learn about stop loss orders. If I want to sell but I think the price might keep climbing a trailing stop loss will follow a stock up and will sell at the set price if it drops to my set trailing difference. More money is made and saved overall by these orders. Don't be a victim of these pump and dump plays. I kind of broke my own rule and bought hcmc which I might regret but it was so cheap and there is variables that may send it to the moon but more likely to flop due to the restrictions set now. It was worth the gamble for the price for me but the rules changed right then so we will see. Learning company evaluation is key. If you believe in a company and its future growth then invest and hold or add during the dips if you truly believe in it. Best of luck.
oh yea, Robinhood is for beginners, everyone hates them now because of this reddit restrictions which should be illegal. Most of the institutions did it not just Robinhood. Once you learn on robinhood most head to bigger institutions with more information like TDameritrade. The cool part of robinhood for beginners is they give you a free stock when you use a link to sign up and you can study the way it reacts to the market and keep or sell at your discretion with no commitment. People are mad at them but it helped millions learn the ropes and will continue too. I started there and it helped a ton. TDameritrade can be overwhelming with numbers to a beginner at first. I have a robinhood account, 2 TDameritrade accounts and a Wells Fargo account. You can transfer your positions from one to the other with a few clicks easily once you build confidence.
If anyone wants to try out Robinhood event though its on the naughty list at the moment here is my link again for a free stock. I know I posted the link recently but the link only lasts 48 hours if I recall.
Join Robinhood with my link and we'll both get a free stock 🤝 https://join.robinhood.com/davidm12003
I’m actually doing pretty good FWIW. I only bought a little AMC that I assumed was just throwing money away..
All I really wanted to do was put a little money in companies that would surge after Covid gets handled.
As a bonus, I pretty much lucked into buying 10’s of thousands of Doge when it was at .016 and I sold it at .06. That’s given me a good bump to play around.
So thanks guys, SUBSCRIBED
I still have a lot of amc and nokia, but those don't seem like bad longee term investments.
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