Stock traders on TGO

[Alleycat72]

I've been playing around with stocks a bit. A buddy of mine is a day trader, but his type of trading is out of my league. What's everyone trading?

[Erik88]

My weed stocks are doing better the past month.  Canopy Growth Corp(CGC)

 

 

[Slappy]

I started back in March. Everything was so artificially low that you could have thrown a dart on a stock wall and make money off that investment. I’ve learned a lot over these last several months. Wish I knew more, but at the end of the day nobody knows how a stock will actually behave. My big winnners so far have been TSLA, WKHS and PLNHF. I’ve owned several other stocks but I sold out of them, most times after making profit, to buy more TSLA. 

[btq96r]

I save the gambling for sports games as a form of entertainment.  When investing for my intermediate future and retirement, I use index funds.  Trying to pick stocks is too much of a guess and time consumer when it's not your full-time job...and even then it's not an easy thing.

I would seriously advise anyone looking to pick stocks to do it with disposable income, and leave the retirement planing to an index or target date fund.

[QuackerSmacker]

My best shots this year,  EXPI  and RIOT, got em both in July.   Now 4X  and 3X .   They're just getting started.  IMHO, of course.

[TripleGGG]

1 hour ago, btq96r said:

I save the gambling for sports games as a form of entertainment.  When investing for my intermediate future and retirement, I use index funds.  Trying to pick stocks is too much of a guess and time consumer when it's not your full-time job...and even then it's not an easy thing.

I would seriously advise anyone looking to pick stocks to do it with disposable income, and leave the retirement planing to an index or target date fund.

Sound advice. I see many people treat g retirement funds like trading funds. Not a good method IMHO. 

My retirement and investment funds are completely separate from my day trading funds. I love day trading but it is definitely a different mindset and is funds that are expendable. 

My best "day trade" this year was VTIQ. Took a very large position at $14. 06 and 2 weeks later sold at $26.97. If you day trade you'd better be watching it nonstop. And you never never never get greedy. Lol

[gregintenn]

I'm boring. I buy and hold index funds. Not exciting, but this strategy has been very good to me.

I have a kid who recently started buying single stocks. He thinks it's awesome. Fortunately, his funds are limited, so the lesson he'll learn shortly won't be too costly.

Edited December 3, 2020 by gregintenn

[Johnny Rotten]

VFIAX

[Alleycat72]

I've sold AAL and NCLH about a dozen times each this year. My CCL is at 182%

[TripleGGG]

22 minutes ago, gregintenn said:

I'm boring. I buy and hold index funds. Not exciting, but this strategy has been very good to me.

I have a kid who recently started buying single stocks. He thinks it's awesome. Fortunately, his funds are limited, so the lesson he'll learn shortly won't be too costly.

I love index funds for retirement. Set it and forget it is the absolute best strategy. I'm a long time Vanguard Boglehead! 

[btq96r]

39 minutes ago, gregintenn said:

I'm boring. I buy and hold index funds. Not exciting, but this strategy has been very good to me.

 

16 minutes ago, TripleGGG said:

Boglehead

Are you on their forum as well?  The differences between there are here are night as to day.

[TripleGGG]

1 hour ago, btq96r said:

 

Are you on their forum as well?  The differences between there are here are night as to day.

Yes I am and definitely different. Lol.

Edited December 4, 2020 by TripleGGG

[Guest]

Studies have shown time and time again that you can get lucky, but you can't reliably beat an efficient market.  Anything over a very small % of your net worth should be in diversified index funds.   

[QuackerSmacker]

Wow this is a conservative group.  I was a stockbroker for 40 years.  Yes, for the average investor, index funds area absolutely the way to go.  For those with more knowledge, talent, resources, and risk tolerance, there can be magnificent opportunities.  (And neither way has any guarantees.)

But the notion that "no one can beat the market" is just not rational.  It's a bell shaped curve.  And  I have seen, and helped, some investors to achieve great success, usually through low diversification and holding a few great stocks very long term.  And I  will freely admit that the best ideas were usually theirs!

[Guest]

Edit.  Please delete.   No point in debating those who are convinced otherwise.

To those willing to reason - consider that if it was easy to "outperform" the market, everyone would do it.  Be wise - it's your retirement.

Edited December 4, 2020 by Guest

[QuackerSmacker]

41 minutes ago, BlessTheUSA said:

Edit.  Please delete.   No point in debating those who are convinced otherwise.

To those willing to reason - consider that if it was easy to "outperform" the market, everyone would do it.  Be wise - it's your retirement.

If you're referring to my comments, with all due respect, I did not say or imply that it is easy to outperform the market, indeed, my comment said it required extraordinary qualities to do that.   And luck sometimes plays a factor, but I believe that luck usually only gets activated  when someone puts himself in a position to recognize it and take action, FWIW.

[Erik88]

I really need to fire my Edward Jones girl and invest on my own. She's been nearly useless.

[Ski]

Check out The Motley Fool (fool.com) if you are really interested in investing in individual stocks.  They have several interesting podcasts that are free, and they offer multiple paid services.

 

 

 

[No_0ne]

2 hours ago, Erik88 said:

I really need to fire my Edward Jones girl and invest on my own. She's been nearly useless.

My very limited experience with Edward Jones was managing my father's existing account for a while with them after his death.  I learned pretty quickly that Edward Jones mainly excels in raking in fess for themselves.  I no longer have any Edward Jones accounts ...

[DaveTN]

Everyone’s experiences are different; I really like Edward Jones. The only issues I have had is that my account advisor has changed four times in seven years. In the last three years my IRA % (rolled from a 401K) has been in the low 20’s. I’m happy with that.

Like everyone I took a big hit with the economy shut down. I’m back at 10% for the year; I think that’s pretty good.

With my account advisor changing I was concerned that I would not get the performance I had been getting. I asked if he picks the stocks or they do, and he said their investors handle that. I had been thinking about changing, but I’m afraid to; they are doing well. And with what’s going on now; I think they did an excellent job at recovery.

When I meet with my advisors, I told them, I think I’m pretty intelligent. Intelligent enough to know I’m not a Doctor, so I hire one, I’m, not a lawyer, so I hire one, and I’m not a financial expert so I hire one. That’s his job. Take my money and turn it into as much more as he can. Then we talked about guns for long time.

Investing isn’t about knowing how to invest; anyone can learn that. But you have to know the markets and the companies you are investing in; I don’t know that and have no desire to learn and keep up with it.

But you have to feel comfortable with your investment advisor. If you don’t you should change. It’s not like there aren’t plenty of proven performers out there.

I’m temped now to cash out my investments. Biden is going to destroy this economy. I hope I’m wrong and if I am I’ll be the first to admit it.

[ReeferMac]

Divvy stocks and bonds for me at the moment (and dry powder....).

Rough seas ahead. A lot of that will be going to cash if the dollar suffers. Trade short term options at times to ride down swings.

[jpx2rk]

Just out of curiosity, how much time do you DIY day traders devote to this on a daily basis??  

What system /company/platform do you guys use or prefer??

I'm too conservative, possibly lazy , and not willing to keep up with the market.  It changes or reacts to the slightest news (good or bad) too much for me.  I'm in the "buy & hold" quality stocks for the long term camp, so I"m curious.

[analog_kidd]

9 hours ago, Erik88 said:

I really need to fire my Edward Jones girl and invest on my own. She's been nearly useless.

Yeah, several years ago we had a pretty good economy for stocks. Everything was up for the year. I admit, I didn't pay a lot of attention to my portfolio balance, but one day I got a wild hair and went and looked at my EJ account. In a booming year, I pretty much broke even. I called my EJ guy up and said WTH? He said, "yeah we probably should have moved some things around". My point was, I'm paying him to manage my money, why didn't he at least look ONCE all year.

I immediately pulled my money and went elsewhere. I pay a LOT more attention these days, and my new guy calls me at least twice a year to see if we need to tune anything up.

Couple years ago, I told my new guy "I buy a lot of crap on Amazon, and I know a lot of other people do too. Buy me some of that." He said that he didn't think Amazon was going to go anywhere, and it was $1000 per share. I said, I didn't care and buy me a few shares anyway. Today that stock is over $3000 per share. He called when it hit $2000 to eat crow. THAT time I just got lucky, I'm no stock guru. I had him buy me a few other things that did not turn out so well. Like Nvidea stock, a company that has video cards in EVERYTHING, and the next week a self-driving car powered by Nvidea chips ran over a pedestrian, and their stock tanked. Its a crap-shoot.

[DaveTN]

40 minutes ago, analog_kidd said:

I'm no stock guru. I had him buy me a few other things that did not turn out so well. Like Nvidea stock, a company that has video cards in EVERYTHING, and the next week a self-driving car powered by Nvidea chips ran over a pedestrian, and their stock tanked. Its a crap-shoot.

Nvidia stock was around $250 when you bought it in March 2018. It's $535 now. You didn't make a bad choice buying it. You just didn't stick around for the ride. 

[btq96r]

So, for anyone who does the day trading thing for fun or for keeps, are you doing it after maxing out tax advantaged & retirement accounts, or doing it within a brokerage account for your 401k/IRA/Roth IRA?  How about from your financial advisors for those who use one; are you knowing what they're doing with different types of accounts you have, and are you comfortable with that risk?