Current Events > Fun time with stocks! (First time)

(+) Yeah! (+)

So I just started my portfolio (Weeble), and was hoping for some advice. I'd ask my roomate but the more I think about it; he doesnt actually understand it: he regurgitates information without knowing what it means which makes asking questions useless.

Anything I should know that I wont find naturally through my regular research?

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Howd you do in gta?

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R1masher posted...

Howd you do in gta?

Not sure I understand what joke you're trying to make.

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Teh bell is weeble

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Hexenherz posted...

Teh bell is weeble

Okay? thanks for the lovely assistance. you sure made a whole lot of sense.

I regret asking you people now.

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how much are you working with

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SolidShadow3 posted...

Not sure I understand what joke you're trying to make.

theres a stock market in gta...

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The Trent posted...

how much are you working with

Between 50-500 to start if possible

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I was asking what Weeble is because I've never heard of that before.

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Webull is another platform w/ more in-depth charts and data out the gate.. I prefer Robinhood's UI though, much more simple for plays but Webull is where I check on stuff on my browser.

there's a stocks community board that i just noticed a few days ago. might have more luck there. definitely less noise.

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Ah ok thanks. I'm a Robinnoob so didn't know about it.

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SolidShadow3 posted...

Between 50-500 to start if possible

if it's 50 i wouldn't bother much with stocks
are you trying to turn 500 to 1000 in 6 months or looking to start investing as a life-long savings type policy or what's your goal here?

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Medussa posted...

there's a stocks community board that i just noticed a few days ago. might have more luck there. definitely less noise.

Is there really? Maybe I'll head over there if I can find it lol

@RedJackson https://gamefaqs.gamespot.com/boards/1520-stocks

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I use fidelity. Mutual funds are a safe bet. Find a sector or a fund that has multiple holdings of a company you believe in. After you've done that find companies that you want to be in with long term and reinvest dividends in those.

Stay away from option trading, its more expert level and volatile both ways. Start small learn to see how trends go and build from there. I view it as a savings account that I can actually gain from rather than using a big bank and getting no good interest return. Granted I do have savings elsewhere but its nice to trade and follow the stock markets as a hobby

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Buy high sell low

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SolidShadow3 posted...

Between 50-500 to start if possible

I remember also thinking I'd just start with 500 when I started last year.

That lasted all of about two days >_>

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I'm starting to buy into LUV. Southwest is in position to come out on top of the major airlines when COVID is no longer a threat.

And the 737 MAX is doing test flights now, so they may be put back in commission by mid 2021 according to my family that works for SWA

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I know very little about the market but I got a tip from a cousin to buy a certain stock back when it was like $5/share, it was my first time buying and I didnt have much spare so I only picked up 60 shares at the time

it went up to $65/share and I sold

bought back in at $60/share for many more shares, and today its at $113/share

if only I could replicate that success with any other stock Id be set for life

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The Trent posted...

if it's 50 i wouldn't bother much with stocks
are you trying to turn 500 to 1000 in 6 months or looking to start investing as a life-long savings type policy or what's your goal here?

I have 500 to go forward with right now, but I only put 50 into the system so far.

ZMythos posted...

I'm starting to buy into LUV. Southwest is in position to come out on top of the major airlines when COVID is no longer a threat.

And the 737 MAX is doing test flights now, so they may be put back in commission by mid 2021 according to my family that works for SWA

This sounds smart. SWA is my preferred airline so it wouldnt be to bad. Thanks for the tip

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Regardless of what you do trading wise, I would recommend you put a significant portion of whatever you have into low cost index funds exercising dollar cost averaging. Then trade whatever you have left. After some years, look at the performance of your actively traded portfolio vs. your dollar cost averaged index funds and see how well you are spending your time actively investing. This way you have a very safe, and very brainless investments going while you figure out what you're doing trading stocks. Edit: I should say actively invested portfolio, not necessarily actively traded. And by actively invested, I mostly just mean making your own decisions as to what stocks to invest in and why, for how long to hold them, as well as more speculative prospects.

I would personally recommend reading a couple of investment books while you're playing around with small amounts of money. My recommendations are Common Stocks and Uncommon Profits by Philip A. Fisher and A Random Walk Down Wall Street by Burton G. Malkiel. These two books will give you opposing views on how you should interact with the stock market, and are more or less at an introductory level. A Random Walk Down Wall Street also has the bonus of giving you some basic info on derivatives and volatility measures. From these two books, further reading into more intermediate/amateur level books should be easier.

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