I've already spoken to my wife about this; i'm going to raise the grand over the next couple of months and sink it into this. I'll try my hand at hopefully some safe stocks (Tesla would be a good option but giving how unwired Elon has been lately and the whole private buying back thing....) and hope for the best with knowing i'm at risk of losing it.
Stocks.
- Thread starter ABMonkey
- Start date
I've already spoken to my wife about this; i'm going to raise the grand over the next couple of months and sink it into this. I'll try my hand at hopefully some safe stocks (Tesla would be a good option but giving how unwired Elon has been lately and the whole private buying back thing....) and hope for the best with knowing i'm at risk of losing it.
For that first $1000 go with an ETF to get your feet wet. That's what Warren Buffett recommends also to beginners to get started. Pick a low cost ETF that tracks an index.
The 'Vanguard S&P 500' is a choice that most go with.
On a side note, spend lots of time watching Warren Buffett on youtube and reading his stuff. He is the stock market guy.
Yes Tesla has been volatile over the past few weeks, I think it was around 290 then jumped up to 370 at one point! Once again companies like this are ones that you invest in because you have a genuine interest and importantly know how the company operates and how it makes money.
Go for stocks that pay dividends that’s a little bit more money in the long run if you want to play it safe!
Dividend stocks are great especially if you get them put on a drip (dividends paid and then reinvested) - you really notice the true effect of compounding. Then when you're ready to retire or want more income, get them to pay out instead or reinvest.
Canadian banks are a great place to start if looking for dividend paying stocks. They're stable and never miss payouts - I think its BMO that hasn't missed a dividend payout in like over 100years!
That's what it's all about. As Robert Kiyosaki says 'savers are losers'. Money just sitting in losing value!
Years ago.... 2010-11 I was noticing my wife and her friends, my sisters, my mom and just about every other women I saw going insane buying Lululemon clothing at ridiculous prices.
Against what most professionals would tell you to do I sunk some money into that company and that company only (no diversification at all). This stock has done nothing but go up since then so I got really lucky.
So I figure...I must be the oracle of Oyama and took some more money and sunk it all into a small mining venture, well I lost my shirt on that trade.
Easy come easy go.
I use the TD bank and their trading platform. I have found it is better to buy stocks that pay dividends and let those get reinvested back into the stock. Now I am a little better with diversification and buy and hold instead of constantly buying and selling.
If you are considering direct investing yourself I would recommend starting out with fictional money, pick a diverse group of companies and markets and see how you do for a few months before you dive in with your hard earned cash.
The trading fees really add up too so keep track of those.
BC
Against what most professionals would tell you to do I sunk some money into that company and that company only (no diversification at all). This stock has done nothing but go up since then so I got really lucky.
So I figure...I must be the oracle of Oyama and took some more money and sunk it all into a small mining venture, well I lost my shirt on that trade.
Easy come easy go.
I use the TD bank and their trading platform. I have found it is better to buy stocks that pay dividends and let those get reinvested back into the stock. Now I am a little better with diversification and buy and hold instead of constantly buying and selling.
If you are considering direct investing yourself I would recommend starting out with fictional money, pick a diverse group of companies and markets and see how you do for a few months before you dive in with your hard earned cash.
The trading fees really add up too so keep track of those.
BC
watch MAD MONEY with Jim Kramer. amazing advice.
Good to see you Ont
I'm love day/momentum/swing trading...you're going to lose what ever you put into it at LEAST 3-5 times...anyone who says they are successful without hitting bottom at least a few times with this style is FULL OF SHIT....period.
There is HUGE money to be made every morning...I've seen it...day in and day out.
But greed will sink ya...day in and day out as well...so...it keeps it interesting.
There is HUGE money to be made every morning...I've seen it...day in and day out.
But greed will sink ya...day in and day out as well...so...it keeps it interesting.
Crypto currencies are a gamble but some have had great returns for me... I should have gotten out of Ethereum a year ago... I held on too long.
There’s new CC’s coming out every week, if you can pick the right one they can make great returns... very VERY volatile stocks though... they can jump as much as 20% in a day up or down
There’s new CC’s coming out every week, if you can pick the right one they can make great returns... very VERY volatile stocks though... they can jump as much as 20% in a day up or down
Crypto's are wayyyy to volatile for me though I know some have made a lot of money off them.
I don't understand them so don't invest in them!
oh i agree, but the volatility is what intrigues me, some CC's fluctuate 20% in just a day, if you get the right one early enough you can get coins for like 10cents each... or even less...
you dont need to know much about how they operate to invest in them, Im with you, I dont know the difference between them, but i know the general idea behind the variations, like i understand what separates litecoi and bitcoin and ethereum
I guess it all matters how much your willing to gamble
If you sink like $100 into 10-20 different new currencys, you can get like 500-1000 coins because they only 5-10 cents each
if only ONE of those currencies blowup like litecoin or etherum did, your 500-1000 coins could be worth 5-10 bucks each and make a quick couple grand
some of the more popular currencies are worth 3000-5000 per coin so now your looking at returns in the hundreds of thousands
I agree buffet is a well of information, the only problem is... Your not the only person watching his videos, and by the time Buffet writes an article about certain stocks, you've missed the boat lol. But in terms of general information and strategies he cant be beat
Oh yeah, there's money to be made that's for sure. It's just not something that interests me at this moment in time, have hard enough time keeping up to date with stocks & real estate to then throw currencies into the mix!
I like to be diversified, I think it's important
.. but I also don't like having so many investments that I can't track!
If only we all jumped on Bitcoin 10 years ago!
Yah Roadhouse. Sure liked the look of my account opening up this morning compared to the past few weeks. Haha.
Makes up for a slow shitty few weeks. I'm really intrigued as to how it's all going to pan out with legalization.