Investing, Stock Market and Retirement Planning Thread

MWB
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Postby MWB » Mon Mar 22, 2021 6:24 pm

So if I was just looking at that HOFV stock short-term... would the strategy basically have been to buy $1000 worth of stock, watch it go up today, and then dump it at what I figure would be the high level? Or am I missing something?

King Colby
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Investing, Stock Market and Retirement Planning Thread

Postby King Colby » Mon Mar 22, 2021 7:20 pm

Ok that crypto punk sold me. How do I invest?
made one just for you KC

https://opensea.io/assets/0x495f9472767 ... 5243357185

let me know if you want to buy for 0.00001 ETH or 17 US cents
I'd pay top dollar for that

King Colby
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Postby King Colby » Mon Mar 22, 2021 7:22 pm

So if I was just looking at that HOFV stock short-term... would the strategy basically have been to buy $1000 worth of stock, watch it go up today, and then dump it at what I figure would be the high level? Or am I missing something?
Buy low, sell high. It's really quite simple iddnit?

The only caveat with this is there are some FINRA rules around day trading. Which I'm pretty sure is 25k minimum in account.

MalkinIsMyHomeboy
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Postby MalkinIsMyHomeboy » Mon Mar 22, 2021 7:25 pm

So if I was just looking at that HOFV stock short-term... would the strategy basically have been to buy $1000 worth of stock, watch it go up today, and then dump it at what I figure would be the high level? Or am I missing something?
I mean that's it at a very simple level but it's not always that easy

how do you determine the high point? what if your investment never goes up but immediately loses money; how long do you hold?

I dno't know how to answer those questions and that's why I don't day trade. If day trading was easy, everyone would do it. In fact, day traders are much more likely to lose money than make it
A 2019 research paper analyzed the performance of individual day traders in the Brazilian equity futures market. Based on trading records from 2012 to 2017, it was concluded that day trading is almost uniformly unprofitable:
We show that it is virtually impossible for individuals to compete with HFTs and day trade for a living, contrary to what course providers claim. We observe all individuals who began to day trade between 2013 and 2015 in the Brazilian equity futures market, the third in terms of volume in the world, and who persisted for at least 300 days: 97% of them lost money, only 0.4% earned more than a bank teller (US$54 per day), and the top individual earned only US$310 per day with great risk (a standard deviation of US$2,560). We find no evidence of learning by day trading.[14]
An article in Forbes quoting someone from an educational trading website stated that "the success rate for day traders is estimated to be around only 10%, so ... 90% are losing money," adding "only 1% of [day] traders really make money."[15]




I'm more in the "put money in a good company and check back in a year or two" camp
Last edited by MalkinIsMyHomeboy on Mon Mar 22, 2021 7:29 pm, edited 3 times in total.

MalkinIsMyHomeboy
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Investing, Stock Market and Retirement Planning Thread

Postby MalkinIsMyHomeboy » Mon Mar 22, 2021 7:27 pm

So if I was just looking at that HOFV stock short-term... would the strategy basically have been to buy $1000 worth of stock, watch it go up today, and then dump it at what I figure would be the high level? Or am I missing something?
Buy low, sell high. It's really quite simple iddnit?

The only caveat with this is there are some FINRA rules around day trading. Which I'm pretty sure is 25k minimum in account.
I had no idea about this but it looks like it's more nuanced than that
The Financial Industry Regulatory Authority (FINRA) in the U.S. established the "pattern day trader" rule, which states that if you make four or more day trades (opening and closing a stock position within the same day) in a five-day period and those day-trading activities are more than 6% of your total trading activity in that five-day period, you're considered a day trader and must maintain a minimum account balance of $25,000.

so I think if MWB wants to mess around with some money he's fine as long as he doesn't hit those thresholds

MWB
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Postby MWB » Mon Mar 22, 2021 9:25 pm

Thanks for the info. Probably not something I’ll do, and definitely not at that scale, but just making sure I understand the general idea.

Dickie Dunn
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Postby Dickie Dunn » Mon Mar 22, 2021 9:34 pm

The way around the pattern day trader rule is to use a cash account. As stated with dodint’s situation, by default all accounts are margin accounts and you need to actively choose to have an account classified as a cash account.

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Postby MrKennethTKangaroo » Mon Mar 22, 2021 9:34 pm

Can someone explain NFTs to me like I'm meow
it is a bastardization of what makes art and collectibles valuable.
This is you

Last week the WSJ actually published a fairly short article talking about NFTs and value. There is a lot of technical economic mumbo jumbo but the article observed a few key components to an NFT:

They confer a type of ownership without the ability to profit from use of the asset.
NFTs turn something plentiful or easily replicable and make them scarce.
The market is intriguing because it is scarcity for scarcity sake.

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Postby dodint » Tue Mar 23, 2021 2:58 pm

Well, I picked the wrong day to reenter the market. Bought F near the open and it's down over 4%. Cool. 10/11 of my watched stocks are down, except somehow Peloton is up over 5%, which is a stock I watch but wouldn't seriously consider buying.

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Postby count2infinity » Tue Mar 23, 2021 2:58 pm

I'm all red today... it happens.

MalkinIsMyHomeboy
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Postby MalkinIsMyHomeboy » Tue Mar 23, 2021 2:59 pm

I bought Peloton in 2019 after the stock dipped near the holidays because of that awful commercial. It's up 300% since then


suk it

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Postby Dickie Dunn » Tue Mar 23, 2021 3:08 pm

You all should buy FUBO.

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Postby Dickie Dunn » Wed Mar 24, 2021 1:54 pm

Just doubled down on FUBO. Brought my average cost down 20%. At the very least it should now be easier to exit the position with dignity.

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Postby NTP66 » Wed Mar 24, 2021 1:57 pm

For U to Buy Only

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Postby dodint » Wed Mar 24, 2021 1:58 pm

That you, Kane?

mikey
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Postby mikey » Wed Mar 24, 2021 3:22 pm

VERB

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Postby count2infinity » Wed Mar 24, 2021 3:25 pm

NOUN

Dickie Dunn
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Postby Dickie Dunn » Wed Mar 24, 2021 3:27 pm

Lol it's at 27/share. Guess I should have waited.

dodint
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Postby dodint » Wed Mar 24, 2021 3:29 pm

Oh? The sports TV thing. Hmm. The fact I passed on that as a consumer probably doesn't bode well for my desire to own it as a company. ;)

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Postby dodint » Wed Mar 24, 2021 3:34 pm

Oof, PTON down 10%. They gave back yesterdays 5% and then joined all the rest of my watchlist with a multi-point tank.

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Postby Dickie Dunn » Wed Mar 24, 2021 3:36 pm

Oh? The sports TV thing. Hmm. The fact I passed on that as a consumer probably doesn't bode well for my desire to own it as a company. ;)
But they're starting a sports book as well!

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Postby dodint » Wed Mar 24, 2021 4:03 pm

I might quit swing trading. This T+2 **** combined with my position just rolling over and dying all day long is frustrating. F's chart today looks like a bunny slope and I'm handcuffed for it. Will likely just hold long positions and not open my terminal anymore.

At least I'm not in TSLA.

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Postby NTP66 » Wed Mar 24, 2021 4:11 pm

Source of the post At least I'm not in TSLA.
lo... oh, wait. ****.

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Postby mikey » Wed Mar 24, 2021 4:17 pm

Right before you were gonna publish your paper, you decide to take your profits and quit...cool, got it. Thanks, tips...

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Postby dodint » Wed Mar 24, 2021 4:33 pm

My deal only works if I can get in/out at will. ;)

I'm just trying to make laziness work for me and so far it's been a pain.

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