Playing on the market

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Mikeneedsahobbg

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My middle son turned 16 last year and got a job. He suddenly had “tons” of money but didn’t want or need anything. The money was accumulating. He decided to begin investing. He is a smart kid and dove into it. He has been killing it.

... so much so that now I opened a trading account for me to play.

anyone else play on the market?
 

TORREYA

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Funny you brought this up today. I was in paypal yesterday and you can buy bitcoin their now. So I am following as I have always wanted to do this but was never sure how or was never able to feel comfortable enough to actually do it. Please share details.
 

Potoooooooo

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My middle son turned 16 last year and got a job. He suddenly had “tons” of money but didn’t want or need anything. The money was accumulating. He decided to begin investing. He is a smart kid and dove into it. He has been killing it.

... so much so that now I opened a trading account for me to play.

anyone else play on the market?
I opened a TD account yesterday to start messing around with the expectation that I'll lose it all :)

Any advice from your son?
 

Mikeneedsahobbg

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I opened an E*TRADE account yesterday. I’m still waiting for the money transfer to complete.

my son’s stock account is up 40% since November. He also has a mutual fund account and some Bitcoin. His best stock buys were Amazon, Tesla, illumina, unum, and chewy. He is using stockpile. It allows fractional share buys.

I honestly don’t know what he is using to pick stocks. I’m going to find out. I’ll post what I’m planning to buy.
 

Kups

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You can buy bitcoin etfs and companies that hold or mine bitcoin.

Microstrategy - MSTR
Hut 8 - HUT
Bit Farms - BITF
Bitcoin etf - QBTC

A few of my favourites right now:

Disney - DIS
Ishares russell 2000 - IWM
General Motors - GM
Nio - NIO
Bank of America - BAC
Emerging Markets etf - EEF


I've been trading options and bitcoin lately. Buying and holding my favourites.
 

PSU4ME

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I threw some money in back in 2016 (apple) and then a good bit more in March of 2020.......my return has be excellent. Disney, Apple, banking stocks are coming back, Delta.......all things that make sense given the down turn.

What was play money turned into serious savings and college funds.......fun when the bottom doesn't fall out under you!
 

Max_nano

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I bought REITs after they got destroyed by covid. They’re starting to recover and I have some good gains from those.

I also bought peloton and Roku which have both done well despite covid.

My approach is to buy the same dollar amount of various stocks in order to diversify. On things that have done well like peloton I’ll sell off enough shares to cover my initial investment and then hold.

Make sure you are maxing out 401k or iras before putting money into a regular brokerage account. Might as well take advantage of the tax benefits those provide
 

TORREYA

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I opened an E*TRADE account yesterday. I’m still waiting for the money transfer to complete.

my son’s stock account is up 40% since November. He also has a mutual fund account and some Bitcoin. His best stock buys were Amazon, Tesla, illumina, unum, and chewy. He is using stockpile. It allows fractional share buys.

I honestly don’t know what he is using to pick stocks. I’m going to find out. I’ll post what I’m planning to buy.
Let me know what you think of the e*trade account. I have one Just havent used it in a long long time. Not even sure how to use it anymore.
 

Mikeneedsahobbg

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I bought REITs after they got destroyed by covid. They’re starting to recover and I have some good gains from those.

I also bought peloton and Roku which have both done well despite covid.

My approach is to buy the same dollar amount of various stocks in order to diversify. On things that have done well like peloton I’ll sell off enough shares to cover my initial investment and then hold.

Make sure you are maxing out 401k or iras before putting money into a regular brokerage account. Might as well take advantage of the tax benefits those provide
I like your approach.

I have my 401k and hsa maxed! Both of these are investment in “safe” broad mutual funds.
 

phatduckk

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I left college with a some mild debt ~20 years ago (first order of business was paying it off)... I remember back then fantasizing that some magic relative would be like "congrats, here's $x,000 to get a head start on adulthood". well, that never happened but I always remembers that day dream.

So, before I had kids, I decided to put 2-5k per year in the market and let it sit till my future kids graduated college. The $ amount varies based on my mood and, mostly, the size of my yearly bonus. with only $2k/yr even if it tanks and loses 50% of the value im not gonna pull my hair out but on a long, 20 year timeline that stuff adds up!
 

Max_nano

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If you use Reddit, wallstreetbets is a good place to find ideas. I generally do the opposite of what they’re recommending. They were trashing cruise lines in late September so I bought a few different ones, then with the vaccine announcements in early November they all went up. Got a pretty decent gain in a little more than a month just by doing the opposite of wsb.

@Kups I bought some of the bitfarm and hut, I wonder how much btc they have on hand. I wonder if they have to disclose that on a 10Q?
 

Potoooooooo

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If you use Reddit, wallstreetbets is a good place to find ideas. I generally do the opposite of what they’re recommending. They were trashing cruise lines in late September so I bought a few different ones, then with the vaccine announcements in early November they all went up. Got a pretty decent gain in a little more than a month just by doing the opposite of wsb.

@Kups I bought some of the bitfarm and hut, I wonder how much btc they have on hand. I wonder if they have to disclose that on a 10Q?


lol, reading that sub convinced me to try trading :)
 
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