Who dabbles with stocks??

[Acameron52]

Alright you TBH geniuses, who here dabbles in the stock market? Where did you start? I’ve always wanted to get into some trading of my own, and I think with the Corona virus pandemonium going around that this would be a good time to pick some up for cheap. A little back ground, I’ve got a good job with a good pension and a couple other retirement funds. I’m not looking to live off this, Just something to do for fun when I’m bored at work. What company do y’all trade through? Do y’all day trade, swing trade etc? Is there any reading material that y’all would recommend for me to check out?! Would a couple grand be a good starting place? Fill me in fellas!

[SCREAMINREELS]

Find a financial advisor you trust. Everything I buy is long term. Only thing I've lost money in about 10 years is GE and I think theyyl come back. I bought it cheap, just not as cheap as it is now. I'm still way up from what I've put in, even with what's going on right now

[60 Deluxe]

With a couple of grand, go buy a good growth mutual fund and get some diversification. You can't really do much in individual stocks with that amount if you are planning to jump in and out of them. The commissions will eat up your profits it you make any, and you will still pay them if you have to get out. Your taxes will become a lot more complicated also. I got tired of the big insiders making all of the good money so I got out of stocks four or five years ago. I'm in control of my money now and doing much better than all but one or two years out of the thirty that I was in the market.

[RiverRat1]

With a couple of grand, go buy a good growth mutual fund and get some diversification. You can't really do much in individual stocks with that amount if you are planning to jump in and out of them. The commissions will eat up your profits it you make any, and you will still pay them if you have to get out. Your taxes will become a lot more complicated also. I got tired of the big insiders making all of the good money so I got out of stocks four or five years ago. I'm in control of my money now and doing much better than all but one or two years out of the thirty that I was in the market.

Some places have cheap or even zero commissions now. And to avoid complicated taxes just put it in a Roth IRA.

You're correct on insiders. Mutual funds unless he just wants to gamble.

[Huntindad]

If you put it in a Roth, and trade with that...would you still have to wait 5 years to get to it.

[bbqfan5909]

Getting into stocks right now is still a large gamble imo. You are now seeing sporting events cancel, should be interesting to see what happens with March Madness. I'm personally involved in index funds, its a 20-30 yr investment for us, on top of 401k, IRA, etc.

[Acameron52]

Some places have cheap or even zero commissions now. And to avoid complicated taxes just put it in a Roth IRA.

You're correct on insiders. Mutual funds unless he just wants to gamble.

Ive already got an IRA that i max out so I don’t know if that would work for me.

[Kdog]

I have a TD Ameritrade account. I have blue chip stocks for the most part. Started messing with it about 4 years ago. I stopped "trading" because it seemed like when I sold stock to take gains, then the stock went up even more. For example I had some Netflix stock, I cannot remember exactly what I bought it for, it was something like $140 per share. It went up a little bit and I sold it. I just checked it and it is at $359. Plus when you sell you have to pay tax on the gains. If you have some extra money laying around I don't think it is a bad idea. The market seems a little volatile right now, which if you are lucky might be a good thing. I don't really follow it too closely though. If I see a company I like I might buy some stock. Or if the market goes down down even more, I might be inclined to put some more money in.

I think the market is still pretty high in historical terms. There is a reason experts say market timing is a fools game, especially for the average Joe. Good luck!

[Throwin Darts]

Save yourself figuring this out later and start buying index funds now on an automatic investment schedule.


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[scott123456789]

My job is half related to data analysis so I struggle to grasp the un-mathematical market.

If you look at a common index fund VTI/VTSAX from vanguard it’s down 25 or so percent from its peak at the beginning of the year. It would be safe to assume if you have the time to wait it out you have a high likelihood of getting back that 25%.

Now if you look at Royal Caribbean and Carnival both of their stocks have dropped in the ball park of 75%. If you are confident they won’t fail and there will be life after Corona, this seems like a much more advantageous financially.

Then when the cruise lines get back to that originally peak sell and go back buy the index fund because the growth potential is much higher in a non emotional market.

[tfrye]

PM sent

[Acameron52]

My job is half related to data analysis so I struggle to grasp the un-mathematical market.

If you look at a common index fund VTI/VTSAX from vanguard it’s down 25 or so percent from its peak at the beginning of the year. It would be safe to assume if you have the time to wait it out you have a high likelihood of getting back that 25%.

Now if you look at Royal Caribbean and Carnival both of their stocks have dropped in the ball park of 75%. If you are confident they won’t fail and there will be life after Corona, this seems like a much more advantageous financially.

Then when the cruise lines get back to that originally peak sell and go back buy the index fund because the growth potential is much higher in a non emotional market.

Thanks brotha. You are able to sound a lot smarter than my firefighter sounds! I don’t think this is the end of the cruise companies. Heck, I think my family along could probably keep Carnival together.

[RiverRat1]

NCLH tanked hard today. I mean body slammed! It's down from 60 to 15. It's PE is now 3.5 How crazy is that?

Casinos are cheap and about to get cheaper (Is my guess).