Spaceman292
Banned
Hey everyone I just kinda half skimmed the thread. Can someone tell me how to make tonnes of money really fast please thanks
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Who needs a job when you can just buy stocks?
- Thread starter Athena~
- Start date
Jose92
[Membe
Day trading is mostly bullshit unless you get super lucky, if you looking to invest cash as a long term thing then stocks could yield much higher profit than just leaving your money in the bank.
90% of day traders lose money just keep that in mind before you embark on treacherous journey filled with heartache and disappointment
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thefool
Member
Same thing since 09-10: crypto
Spaceman292
Banned
Ok good brb I'm making space under my bed for my boxes of crypto
Reptars Revenge
Member
Give me 20 and I’ll tell you how to make 100
O.v.e.rlord
Banned
lmao good luck.
Weiji
Banned
I’ll bite.
I have decently large accounts.
My strategy:
1) Max annual 401k contributions: 90% SPY and 10% international to lower my taxes on realized gains in my private trading account.
2) Max IRA and focus on high dividend income. During 25-30% market drops I will cut IRA funding and focus income on my personal account and during 50+% downturns I’ll pull funds out to fund my personal accounts.
3) Remaining funds go into my private account (by far my largest) where I trade 100 tickers (No etfs) within % confidence tiers, I sell if they exceed their tier % and buying if they drop below their tier minimum. No single stock ticker is allowed to exceed ~6%.
80% of these tickets are in tech, and all stocks in the OP are in my top two tiers. The rest are high risk software / chip makers etc. Believe it or not even at 100 tickers I have trouble picking what stays or goes.
The remaining 20% are low dividend high stability companies like waste management utilities
I do utilize options, but only ever 5% of my portfolio or less.
I typically beat the SPY by between 10 and 30% annually and most of the time I beat VGT as well, but it varies. Importantly my methodology produces much better results during downturns. During the March low this year my account fell about 10-15% less then SPY despite the tech focus.
I am also a big believer in paying off debt. I’d say once 50% of your trading account can pay something off do it. CCs first, then car loans, then mortgage, in that order. I am debt free for about 2 years.
I have decently large accounts.
My strategy:
1) Max annual 401k contributions: 90% SPY and 10% international to lower my taxes on realized gains in my private trading account.
2) Max IRA and focus on high dividend income. During 25-30% market drops I will cut IRA funding and focus income on my personal account and during 50+% downturns I’ll pull funds out to fund my personal accounts.
3) Remaining funds go into my private account (by far my largest) where I trade 100 tickers (No etfs) within % confidence tiers, I sell if they exceed their tier % and buying if they drop below their tier minimum. No single stock ticker is allowed to exceed ~6%.
80% of these tickets are in tech, and all stocks in the OP are in my top two tiers. The rest are high risk software / chip makers etc. Believe it or not even at 100 tickers I have trouble picking what stays or goes.
The remaining 20% are low dividend high stability companies like waste management utilities
I do utilize options, but only ever 5% of my portfolio or less.
I typically beat the SPY by between 10 and 30% annually and most of the time I beat VGT as well, but it varies. Importantly my methodology produces much better results during downturns. During the March low this year my account fell about 10-15% less then SPY despite the tech focus.
I am also a big believer in paying off debt. I’d say once 50% of your trading account can pay something off do it. CCs first, then car loans, then mortgage, in that order. I am debt free for about 2 years.
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supernova8
Banned
Yeah I was about to say that. Plus you have your transaction fees for both buying and selling, and you'll have to pay tax every time you sell at a profit (which is every time if you're doing it right).
With that said, this covid thing has been a learning experience in terms of stock investing. Now I know (or am relatively confident) that tech stocks will be considered safe haven stocks in any future similar pandemic.
supernova8
Banned
Weiji
Banned
Joseph Carlson?
Never heard of him, looked him up on YouTube just now. Definitely not me, dividend / value investor who recently bought bank stocks?
Definitely NOT my trading style.
banks are cheap right now but I don’t believe we’re going to see high interest rates again for a very long time, if ever, which makes them a terrible investment. AlsoI believe the tech winds are just starting to commoditize what they do.
TLDR Fintech + long term low interest rates gonna fuck big banks.
Spaceman292
Banned
I'll fax it right over fam
West Texas CEO
GAF's Nicest Lunch Thief and Nosiest Dildo Archeologist
Don't do it; it's a scam!
Spaceman292
Banned
It's okay I faxed him a picture of my penis
sendit
Member
True. However, investing in stocks should be part of your portfolio.
James Sawyer Ford
Member
your retirement strategy is sound but don’t confuse outcome of your trading accounts with strategy
tech stocks all have very high p/e multiples. If/when growth slows you are going to see a massive correction in this sector
tech is always highly volatile and cyclical.
having 80% of your holdings there is unwise, just ask anyone from the early 00s
Weiji
Banned
I was trading during the .com bubble and I remember it well. And I agree, many of the stocks in the sector are very overpriced, and some will die when / if liquidity dries up. But I have no debt and I believe we’re in a world now where data is the new gold. More of our lives are online and greater levels of analytics are going to be necessary this is a massive long term tail wind for software and chip stocks.
In short I remain highly bullish on the sector long term, and I’m perfectly able to handle a 50% market correction in tech. Obviously not everyone should be invested that aggressively.
James Sawyer Ford
Member
I don’t disagree that tech is here to stay, certainly not questioning that. It’s whether that sector can continue to have enormously outsized returns
I have my doubts that it can continue as it has.
it can still be extremely important economically and yet be a terrible investment
F
Foamy
Unconfirmed Member
Oh look VIX has gone from $27 to $40 this week and made me a killing. Not bad for a brainlet.
If you can't recognize this market as down trending yet I don't know what to tell you.
Good luck with bonds.
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crazepharmacist
Member
Invest in snp500 funds like VOO. Don’t invest money you can’t afford to lose. Have a long time horizon at least like 3-5 years.
if there’s a downturn, stomach the volatility and just buy more.
if you invested once during the peak of the dot com bubble in 2000, yes, it
would have taken 10 years to recoup your money but if you dollar cost averaged every 2 weeks over that 10 year period you would have made a
ton of money.
if there’s a downturn, stomach the volatility and just buy more.
if you invested once during the peak of the dot com bubble in 2000, yes, it
would have taken 10 years to recoup your money but if you dollar cost averaged every 2 weeks over that 10 year period you would have made a
ton of money.
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