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underfliptown
I suck and you should kill me


Registered: 03/07/11
Posts: 14,344
Last seen: 8 years, 5 months
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Tell me about your journeys in the stock market!
#19225487 - 12/04/13 06:42 AM (10 years, 1 month ago) |
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So I finally clued in that the stock market is the way to get rich. I can't believe it took this long.
I wanna hear anyones stories of success or failure in this volatile money source. Right now I am playing around on investopedia where you play a simulation of the real market. It seems like a good way to get a feel for what is going on in the markets, and how to read charts and whatnot.
1. How old were you when you started investing
2. How much money did you start with
3. How are you doing now
4. How do you feel about the future?
I found the life hack fella's, no longer am I gonna bitch about the powers that be. I am going to become one.
P.S. Can a Canadian trade on the Nasdaq or S&P500?
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GoldenEye
...



Registered: 05/24/13
Posts: 4,340
Loc: Amsterdam
Last seen: 6 months, 19 days
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Re: Tell me about your journeys in the stock market! [Re: underfliptown]
#19225501 - 12/04/13 06:48 AM (10 years, 1 month ago) |
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Get rich or die tryin bro! #Yolo!
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psyconaught
Chemical Connoisseur


Registered: 11/04/10
Posts: 6,100
Last seen: 7 years, 2 months
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Re: Tell me about your journeys in the stock market! [Re: GoldenEye]
#19226453 - 12/04/13 12:31 PM (10 years, 1 month ago) |
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I just cashed out some stocks that were bought for me as a child. And i frequently help my grandma with advice. My advice to you is determine what type of investing your wanting to do. Long term? Short term penny stocks? etc.
-------------------- Think for yourself, question authority
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underfliptown
I suck and you should kill me


Registered: 03/07/11
Posts: 14,344
Last seen: 8 years, 5 months
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Re: Tell me about your journeys in the stock market! [Re: psyconaught]
#19226812 - 12/04/13 01:50 PM (10 years, 1 month ago) |
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I wanna get into active trading of short term stocks. Nothing greedy, but enough to start profits.
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PDU
travel kid vs.amerika



Registered: 12/03/02
Posts: 10,675
Loc: beautiful BC
Last seen: 8 years, 4 months
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Re: Tell me about your journeys in the stock market! [Re: underfliptown]
#19226965 - 12/04/13 02:28 PM (10 years, 1 month ago) |
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DRIP/canadian couch potato seems like the best method for someone starting out, as far as i can tell.
With a minimal investment, it seems that trading costs add up real fast, if you are actively trading hoping to make a quick buck.
How much will you start off with? I've read that it doesn't make sense to start active trading with less than $10,000 and that it would be wiser to stick to cheap mutual funds (which is the route i am going.)
-------------------- GO OUTSIDE.
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geokills
∙∙∙∙☼ º¿° ☼∙∙∙∙


Registered: 05/08/01
Posts: 23,419
Loc: city of angels
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Re: Tell me about your journeys in the stock market! [Re: underfliptown] 2
#19255235 - 12/10/13 12:40 PM (10 years, 1 month ago) |
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- 1. How old were you when you started investing?
Passively at age 10, when my grandfather passed away and gifted me a moderate sum of money, which my parents placed into a few investment partnerships (not commonly traded on open exchanges) with the help of a professional money manager. That money nearly tripled by the time I had access to it eight years later. Some of it went into education, some into living expense, the rest back into business investment.
- 2. How much money did you start with?
My first personal investment was with a < $2,000 into a web hosting business at age 13. At age 21, I invested $10,000 into a subwoofer manufacturing and direct (online) sales business which ran for a few years and did just over a quarter million in sales. I started actively investing my own money in the stock market at age 22 (circa 2004), with $20,000 of capital in an online brokerage account, and haven't stopped since (I'm 31 now).
- 3. How are you doing now?
After taking a major hit (down some 30%) during the 2008 financial crisis, I gathered my composure and continued to refine my trading discipline. I was shell shocked and didn't make profitable use of the incredible bounce the market saw in the aftermath, but I nevertheless used the time wisely to observe, dipping my toes in the water slowly, and have now built my portfolio up to all time highs. The most important mantra, that discipline trumps conviction, has helped me to understand and apply the important lesson of planning your trades and trading your plan. In so doing, I have learned to manage my downside risk through position size and stop loss management. I adhere to these disciplines and thereby cut my losing positions for an acceptable loss, while allowing my winners room to run, all the while re-defining my sell stop levels as new levels of support develop in an individual stock. But to answer your question more simply, I am quite satisfied. I work a handful of hours in the early morning, another hour or so in the evening to prime myself for the following day, can generally take time off whenever I want, and get to pursue things like love, ceramics, music, nature and travel with the vast majority of my time.
- 4. How do you feel about the future?
I feel very optimistic. I have learned that I will lose money from time to time, that's just unavoidable. But I have also learned that through disciplined risk management, I will not lose more than I am comfortable with before my portfolio has been pulled back into cash. I am also cognizant that with the government's (i.e. the Federal Reserve's) accommodating stance on monetary policy, there isn't really anywhere viable for free capital to flow, except into the equity markets. It may be artificially influenced, but the money is very real. Given our country's (and most of the world's developed nation's) aggregate debt issues, I do not see a way for the Fed (and other international money governing bodies) to reverse policy in a meaningful way in the foreseeable future. So as long as money is cheap and there are few to no opportunities for a "safe" return on investment elsewhere, stocks appear to be the place to be.
My desk this morning: (6 x 24" widescreen monitors)
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-------------------- ┼ ··∙ long live the shroomery ∙·· ┼ ...╬π╥ ╥π╬...
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underfliptown
I suck and you should kill me


Registered: 03/07/11
Posts: 14,344
Last seen: 8 years, 5 months
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Re: Tell me about your journeys in the stock market! [Re: geokills]
#19272349 - 12/13/13 08:30 PM (10 years, 1 month ago) |
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Wow that was an incredible post! Thank you so much for your insight!
I have a lot of reading and work to do...
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