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jonnybravo
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PostPosted: Fri Jan 15, 2021 6:42 pm    Post subject:

Mike@LG wrote:
jonnybravo wrote:
What company are y'all using these days to do your trading? I was with TD Waterhouse in the late 90s, early 2000s. Managed to make it out of the tech crash of 2001 in the black but I haven't traded since. Any recommendations?


Switching to TD Ameritrade now.

Using Tradestation to buy options through the phone.


Any particular reason you're switching? I'm looking to open up an account with either TD, Schwab or Etrade.
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Baron Von Humongous
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PostPosted: Sat Jan 16, 2021 12:04 am    Post subject:

Once again the conservative sandwich-heavy portfolio pays off for the hungry investor!
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PostPosted: Sat Jan 16, 2021 4:42 am    Post subject:

jonnybravo wrote:
What company are y'all using these days to do your trading? I was with TD Waterhouse in the late 90s, early 2000s. Managed to make it out of the tech crash of 2001 in the black but I haven't traded since. Any recommendations?


I've been using M1 finance since 2018. A lot of other platforms seemed archaic when i joined (i tried Robinhood at that time, as well). M1 finance allows partial share purchases with 0 fees (Robinhood may have rolled out this feature finally). Truly is a game-changer imo for people who want to start with a small amount of money and grow their account as they gain confidence. For people that were completely conservative in 2020 (and thought they were geniuses), many profits were missed out on. I know people that literally pulled most of their 401K out into cash accounts due to covid; others put pennies into their 401K out of fear (for their whole lives) while hoarding the majority of their savings in a 0% ROI account. Some of these mattress stuffers were overjoyed in Feb/March when people "lost" big chunks of their 401K. However, after the Feb/March drop, the market has seen an incredible run, and the market never crashes in the long run (where else will people who have inordinate amounts of money put it?).

Basically, i've ignored most of the "professional" financial articles' advice to short stocks in 2020; many of these dumbasses are doubling down and claiming that "amateur investors" are going to get burned by Tesla (i'm sitting at over 1000% profit on that one currently) and the market in general. However, these "professional" finance guys are doing a laughable job managing 401K accounts relative to some of us "amateur investors" out there since i track my own 401K (managed by Fidelity) performance, which has shown borderline pathetic growth compared to my personally managed account over the past 2 years.

TLDR; best move is to start small imo with maybe $500 bucks in an account and gradually grow your own personal account with funds you can afford to lose completely.
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lakers0505
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PostPosted: Sat Jan 16, 2021 10:07 am    Post subject:

jonnybravo wrote:
Mike@LG wrote:
jonnybravo wrote:
What company are y'all using these days to do your trading? I was with TD Waterhouse in the late 90s, early 2000s. Managed to make it out of the tech crash of 2001 in the black but I haven't traded since. Any recommendations?


Switching to TD Ameritrade now.

Using Tradestation to buy options through the phone.


Any particular reason you're switching? I'm looking to open up an account with either TD, Schwab or Etrade.


I have E-trade. Simply because my employer used it for the ESPP plan, so it became the platform I defaulted on. I also have Merill Edge for Roth, and E-trade is significantly better.

It seems like TD Ameritrade is favored by investors, I tend to see them pop-up in mentions most frequently.
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PostPosted: Sat Jan 16, 2021 10:16 am    Post subject:

jonnybravo wrote:
Mike@LG wrote:
jonnybravo wrote:
What company are y'all using these days to do your trading? I was with TD Waterhouse in the late 90s, early 2000s. Managed to make it out of the tech crash of 2001 in the black but I haven't traded since. Any recommendations?


Switching to TD Ameritrade now.

Using Tradestation to buy options through the phone.


Any particular reason you're switching? I'm looking to open up an account with either TD, Schwab or Etrade.


I would recommend Schwab.

Great platform with access to all types of product even beyond stocks.

Now $0 per trade too which is unbelievable for an old guy like me who at one time had to pay over $50 per trade back in the old days.

Now you can actively trade if you are brave enough with no fees.

As far as the overall market right now, I would be careful. It has been almost an unprecedented bull market for years and is certainly going to correct sharply at some point.

That said, if you employ a "buy and hold" mentality with solid stocks or funds, you should be fine over the long term.

Here is one to keep an eye on:

The eft called LIT which is the Lithium Battery ETF.

This is a great way to ride the wave without being all in TSLA which again has been on an unprecedented bull run and may be due for a sharp pullback at some point.

Good luck to all with your investing!
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PostPosted: Sat Jan 16, 2021 1:30 pm    Post subject:

Love this thread. Perfect for starting the New Year.

Getting into investing changed my life.

Was frustrated being in debt. Read and watched a lot about handling money better.

4 years in.

-Max out ROTH IRA (vtsax) every year.
-Throw any extra into taxable brokerage (vtsax).
-401K contribute only 6% with employer matching 4%.
-Side savings account for emergency fund/down payment on a place.
-Then a small amount on single stocks (Luckily got apple stock before the split).

Thanks for the Come Up series rec. Hoping to learn more in this thread.
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Mike@LG
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PostPosted: Sat Jan 16, 2021 6:49 pm    Post subject:

jonnybravo wrote:
Mike@LG wrote:
jonnybravo wrote:
What company are y'all using these days to do your trading? I was with TD Waterhouse in the late 90s, early 2000s. Managed to make it out of the tech crash of 2001 in the black but I haven't traded since. Any recommendations?


Switching to TD Ameritrade now.

Using Tradestation to buy options through the phone.


Any particular reason you're switching? I'm looking to open up an account with either TD, Schwab or Etrade.


I forgot what I was on before, but hated the options I had available to me in regards to ETFs and mutual funds. I wanted better research ability and easier to execute the positions I wanted, hence TD Ameritrade.

I have a baby account on Betterment, and even though I don't touch it, I'm shocked at my results there. I think it's a great alternative who want to be hands off and "set it and forget it", even with the advisor fees. I think it's well worth it.
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PostPosted: Sat Jan 16, 2021 6:53 pm    Post subject:

Mation wrote:
Love this thread. Perfect for starting the New Year.

Getting into investing changed my life.

Was frustrated being in debt. Read and watched a lot about handling money better.

4 years in.

-Max out ROTH IRA (vtsax) every year.
-Throw any extra into taxable brokerage (vtsax).
-401K contribute only 6% with employer matching 4%.
-Side savings account for emergency fund/down payment on a place.
-Then a small amount on single stocks (Luckily got apple stock before the split).

Thanks for the Come Up series rec. Hoping to learn more in this thread.


The Come Up Series is the most aggressive strategy deployed, but one that I find myself agreeing with among all of "the cousins." They opened me up to option trading and what to look for, and honestly, do a ton of the research for themselves and moreorless tell you what to get into.

I follow a couple other ones, but more as informational advice as part of the research I get into.

I recently redeployed investments, but this time with different strike prices I was more comfortable with anticipating a larger drop that affects options greatly. But lesson learned, I shouldn't have exited in the first place, even with the market indicators riding all time high. Opportunity cost, not losses.
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lakersken80
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PostPosted: Sat Jan 16, 2021 7:46 pm    Post subject:

Invest earlier in life and reap the rewards later in life. I wish I had thrown a couple of hundred bucks into the market when I was in college.
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PostPosted: Mon Jan 18, 2021 3:14 pm    Post subject:

DancingBarry wrote:
If you think we're in a bubble just don't be as aggressive. Look for longer term holdings.

I'm not a professional but my work involves dealing with pro's on a daily basis. Quite a bit of strategy is based on where you are in your life, how much risk you want to take, how active/passive you are with trading. So you need to figure out your comfort zone. Personally, if I'm day trading something I'm buying something I also wouldn't mind keeping long term if I need to. So pretty low risk and peace of mind for me.

In February, a friend of mine said he wanted to put some money into stocks. I queried him a bit on his goals/risk, so I told him he can't go wrong with Amazon. He bought it at I think around $1,800 at the time, which was coming off its highs of I think around $2,200 or so. So good value then, but something even if it tanked a little probably wouldn't hurt him on his first time investing. Thankfully, for him it was one that went up during the pandemic and are at $3,100+ now. But they are a moat company and not going anywhere, so if went down for some reason, it would rebound most likely. But it was something he could get behind.

I'm usually taking a long-term view. So I invest in moat companies, various index funds and what I know. I try to keep some cash on hand so I can buy the dip whenever that happens. That's how I play the crashes and corrections. If you look at the recession and the pandemic, if you are taking a long-term view, the markets actually bounced back pretty quickly from their lows. So don't panic sell. Buy something you know is a bargain when it dips and you will come out ahead in the long run.

For my son, who is in college and has a job, I think he can be more aggressive, but I know he gets a little anxious about things. So we did a couple of things the past year. He put money into a typical S&P 500 ETF. (Honestly, if you do nothing else, just do this and leave it there.) His plan will be to be disciplined and put a little into that every year. Starting at his age, he will be doing well by the time he's my age. Wish my dad told me this stuff. He bought it before the dip, so I made sure as a learning lesson that he took a look at the prices of things then, how much it was down, then made sure a couple months later he looked at it again when it bounced back up. Lesson, don't panic.

But we also took some gambles during the dip when it happened. He bought some cruiseline stock when it bottomed out, which I think has doubled from where he got it but is still 1/3 of the price it was before the nosedive. (I think once older couples get vaccinated, it will bounce back up assuming the cruiselines can hold on.) But that's something he can gamble/hold on to and probably do fine. Even a market correction won't hurt him from where he started.

Typically, I don't hedge too much against the downside, but rather looking for bargains when it happens and coming out the other end better for it. You can toss some money into some defensive funds if you want while you are still playing the bull side of things just as protection. Or you can jump in on the short-term trends. (For instance, you can get into some triple leveraged bear ETFs for certain sectors or the market as a whole if you really believe in something.)

I'd still play the trends with the pandemic right now since that is more certain than a bubble. There are still some sectors out there that should bounce back. And some that will likely see corrections when work from home stuff changes. Doing business and the economy will have changed a bit when we come out of this.


Since your kid is young. Maybe consider getting him into some options a year or 2 out. I'm in DKNG with some 2021 2022 option calls. If you think Draftkings will be worse off a year from now than they are now. I have a bridge to sell you in Arizona.
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Last edited by kikanga on Mon Jan 18, 2021 4:21 pm; edited 1 time in total
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jonnybravo
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PostPosted: Mon Jan 18, 2021 4:00 pm    Post subject:

lakersken80 wrote:
Invest earlier in life and reap the rewards later in life. I wish I had thrown a couple of hundred bucks into the market when I was in college.


My friends and I did fairly well in the tech boom of the late 90s in college. One of them went full bore with it and about 2 years out of school he slapped down a down payment for a house. I on the other hand, spent every penny on booze, clubs for way too long.
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PostPosted: Mon Jan 18, 2021 5:24 pm    Post subject:

Mation wrote:
Love this thread. Perfect for starting the New Year.

Getting into investing changed my life.

Was frustrated being in debt. Read and watched a lot about handling money better.

4 years in.

-Max out ROTH IRA (vtsax) every year.
-Throw any extra into taxable brokerage (vtsax).
-401K contribute only 6% with employer matching 4%.
-Side savings account for emergency fund/down payment on a place.
-Then a small amount on single stocks (Luckily got apple stock before the split).

Thanks for the Come Up series rec. Hoping to learn more in this thread.


I am just now getting into investing and it’s reassuring I’m following a simulate strategy to you Sir.

As a matter of fact your post reminded me I needed to pick an index fund for my Roth. (VTSAX as well)

I’m currently looking into what to buy on the single stock side of the house with play money. This thread is gold. Thanks OP
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PostPosted: Mon Jan 18, 2021 7:20 pm    Post subject:

I bought Friday's dip heavily with some 1/29-2/19 call options on AAPL, CRSR, U, COTY and pushed more cash that I think I should on this... stop loss at -30% and I'll start cashing out profits at +30% for the shorter dated options
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PostPosted: Tue Jan 19, 2021 9:48 am    Post subject:

This is definitely more of a Retirement for Dummies question than what you guys are mostly talking about here but will throw out.

I have a 401k from an old job that had a great year and has decent amount of money in it. But of course I'm no longer contributing.

I also have a traditional IRA I started few years ago through Vanguard, which currently is well below what the 401k is. I've always planned on transferring the 401k to the IRA, seems like a no-brainer since I can actually contribute to that one.

But are there reasons when this would NOT be a good idea; are there situations where keeping it as 401k would be better, even if I'm not contributing?

Another point to consider is that currently I don't see myself working somewhere where I would again have a 401k (I've been full-time freelance for 7 years, though one of those gigs was where I had the 401k till last year as I used to work there full time and was able to keep contributing as a part-timer). But maybe down the line I do have a traditional job like that again. In that case would it be better to keep the 401k where it is now so that perhaps someday I can simply transfer it to a new job/plan?

Also, I'm 45, if that makes a difference with these types of considerations.
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PostPosted: Tue Jan 19, 2021 2:55 pm    Post subject:

kikanga wrote:


Since your kid is young. Maybe consider getting him into some options a year or 2 out. I'm in DKNG with some 2021 2022 option calls. If you think Draftkings will be worse off a year from now than they are now. I have a bridge to sell you in Arizona.


Yeah, I could see him having some interest in that. Sort of related, maybe also something like ESPO (Esports/Video Gaming ETF) that's done really well this year would probably also perk his interest. It does take some motivating to separate him from holding as much cash as he does.
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PostPosted: Tue Jan 19, 2021 3:03 pm    Post subject:

jonnybravo wrote:
lakersken80 wrote:
Invest earlier in life and reap the rewards later in life. I wish I had thrown a couple of hundred bucks into the market when I was in college.


My friends and I did fairly well in the tech boom of the late 90s in college. One of them went full bore with it and about 2 years out of school he slapped down a down payment for a house. I on the other hand, spent every penny on booze, clubs for way too long.


Ha. Reminds me of a friend of mine. We were both working hard, penny pinching, saving and 2 years out college, I bought a house, he bought a Porsche. I don't know what he ended up selling the Porsche for but I guarantee it was no where near what I sold the house for.
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PostPosted: Wed Jan 20, 2021 12:20 pm    Post subject:

DancingBarry wrote:
jonnybravo wrote:
lakersken80 wrote:
Invest earlier in life and reap the rewards later in life. I wish I had thrown a couple of hundred bucks into the market when I was in college.


My friends and I did fairly well in the tech boom of the late 90s in college. One of them went full bore with it and about 2 years out of school he slapped down a down payment for a house. I on the other hand, spent every penny on booze, clubs for way too long.


Ha. Reminds me of a friend of mine. We were both working hard, penny pinching, saving and 2 years out college, I bought a house, he bought a Porsche. I don't know what he ended up selling the Porsche for but I guarantee it was no where near what I sold the house for.
\

Bought the wrong Porsche? haha.

But honestly, some of the values on Porsche from 1989 and later... if you got the right one... would have been more than worth it.
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PostPosted: Thu Jan 21, 2021 7:55 am    Post subject:

audioaxes wrote:
I bought Friday's dip heavily with some 1/29-2/19 call options on AAPL, CRSR, U, COTY and pushed more cash that I think I should on this... stop loss at -30% and I'll start cashing out profits at +30% for the shorter dated options

already at 200+% gains on AAPL calls in less than a week
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PostPosted: Thu Jan 21, 2021 12:27 pm    Post subject:

^Congrats

I'm doing well with my ETF plays. Easier on stress with option calls. Just takes a bit more patience but it pays off well.
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PostPosted: Thu Jan 21, 2021 3:46 pm    Post subject:

DancingBarry wrote:
jonnybravo wrote:
lakersken80 wrote:
Invest earlier in life and reap the rewards later in life. I wish I had thrown a couple of hundred bucks into the market when I was in college.


My friends and I did fairly well in the tech boom of the late 90s in college. One of them went full bore with it and about 2 years out of school he slapped down a down payment for a house. I on the other hand, spent every penny on booze, clubs for way too long.


Ha. Reminds me of a friend of mine. We were both working hard, penny pinching, saving and 2 years out college, I bought a house, he bought a Porsche. I don't know what he ended up selling the Porsche for but I guarantee it was no where near what I sold the house for.


I’m reminded of the idea that guys buying houses two years out of college probably don’t have the same view of what penny pinching is that most folks do...
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PostPosted: Fri Jan 22, 2021 2:35 pm    Post subject:

Omar Little wrote:

I’m reminded of the idea that guys buying houses two years out of college probably don’t have the same view of what penny pinching is that most folks do...


So...I went to community college, earned scholarships there, then earned a scholarship to another college I didn't want to go to, but it was in the state of the college I did want to attend. I accepted. Established state residency for cheap tuition. Applied to the college I wanted to and went there in a year. Earned the highest scholarship there. My future wife moved out for a year and we lived in the dorms. The next year when we got married, she got residency prices for her tuition and we got a place together, rent was $300/mo. The floor played left to right across the brown shag carpeting. Bathroom ceiling once caved in. Made it out of college without student debt.

Out of college, we lived with her parents for a few months even though we were married, took (bleep) from friends for that, but it helped us save a little. Then we got a two bedroom apartment of our own in the Valley. She was on a journalist salary, which when she finally got a job as first-year teacher years later was a considerable raise. I was doing freelance and making less. She'd wake up at 4 a.m. to go to work. We didn't go out to eat, we didn't buy clothes, used grocery coupons, we didn't go for any paid entertainment, paid off any credit card charges every month, we shared a car, put money away. One year, her bonus at work was $5 and some movie tickets. In 2.5 years, we saved up $20K. That was enough for the down payment and no cosigner on a fixer-upper.
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PostPosted: Fri Jan 22, 2021 4:48 pm    Post subject:

You know I was messing with you...

But I’m glad I did because that was an inspiring story.
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PostPosted: Fri Jan 22, 2021 4:55 pm    Post subject:

DancingBarry wrote:
Omar Little wrote:

I’m reminded of the idea that guys buying houses two years out of college probably don’t have the same view of what penny pinching is that most folks do...


So...I went to community college, earned scholarships there, then earned a scholarship to another college I didn't want to go to, but it was in the state of the college I did want to attend. I accepted. Established state residency for cheap tuition. Applied to the college I wanted to and went there in a year. Earned the highest scholarship there. My future wife moved out for a year and we lived in the dorms. The next year when we got married, she got residency prices for her tuition and we got a place together, rent was $300/mo. The floor played left to right across the brown shag carpeting. Bathroom ceiling once caved in. Made it out of college without student debt.

Out of college, we lived with her parents for a few months even though we were married, took (bleep) from friends for that, but it helped us save a little. Then we got a two bedroom apartment of our own in the Valley. She was on a journalist salary, which when she finally got a job as first-year teacher years later was a considerable raise. I was doing freelance and making less. She'd wake up at 4 a.m. to go to work. We didn't go out to eat, we didn't buy clothes, used grocery coupons, we didn't go for any paid entertainment, paid off any credit card charges every month, we shared a car, put money away. One year, her bonus at work was $5 and some movie tickets. In 2.5 years, we saved up $20K. That was enough for the down payment and no cosigner on a fixer-upper.


Same. We were dirt poor growing up. Government cheese, Section 8 housing, welfare, food stamps, powdered milk to boot. Been there, done that. Never going back. Hot dog, ramen, rarely eating out allowed us to have leverage the extra student loans to invest. Looking back to the cost of my degree compared to now makes me think I got a steal. I want to say it's about triple or 4 times the amount now.

Between my first real job and the nest egg I built, I lost my GD mind for a spell. I was so reckless with my spending for a LONG time after turning 23. It's only been in recent years that I've really given a thought to retirement. It gives me severe anxiety sometimes.
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PostPosted: Fri Jan 22, 2021 5:21 pm    Post subject:

Omar Little wrote:
You know I was messing with you...

But I’m glad I did because that was an inspiring story.


Yeah, I know. But then I thought about it and how this thread might help some people. Especially if you are young.
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PostPosted: Fri Jan 22, 2021 5:30 pm    Post subject:

jonnybravo wrote:
Government cheese ... powdered milk to boot.

That was the early 80s for us. Both may parents came home on the same day and had lost their jobs.

At my dad's funeral a few years ago, I spoke about how the proudest I ever was of him was not success he later had, but going with him as a kid to paint someone's house and wallpaper someone else's. This was a college educated man, computer programmer, but had to do what he had to do. His lowest point in his life was actually the highest for me.

Quote:

It's only been in recent years that I've really given a thought to retirement. It gives me severe anxiety sometimes.


We can certainly get by with a lot less than we think sometimes.
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