Bitcoins & Stocks

[BO7H B4RRELS 2,453]

Do any of you guys trade bitcoins or stocks?  I'm just getting into it recently.  I've got 3 or 4 friends who just started to so we are all learning together.  I'm not doing anything crazy, just putting a little money into bitcoins and stocks, nothing that will hurt me if I lose it all.  Right now I'm using Coinbase for my bitcoin trading and tomorrow I'm planning on using Webull for stocks.  I'm not 100% sold on Webull because they don't do fractional shares.   Should I go with Robinhood or something else?  I'll be starting the stock trade portion tomorrow.  

 

Thoughts? 

 

Anyone else?  

[GazzaGarratt 11,056]

If i'm honest Tommy @BO7H B4RRELS , I have no idea where to start with this stuff. I've usually played a blind eye to all of it. How did you all find out where to start?

[phil bottle 9,769]

Ask me which horse for the 2.30 at Haymarket and I'd be just as confused.

 

Let us know how you get on, we might all learn something 🙂

[BO7H B4RRELS 2,453]

I'm still learning, I'm by no means an expert.  I've been having fun learning.  I just noticed more and more of my friends getting into it, so I started picking their brains.  I asked questions for about a month before I took the plunge. 

 

I remember @Diddums talking about bitcoins and mining quite a while ago, not sure if he's still involved or not.  

 

 

[J4MES OX4D 10,039]

I see so many of these adverts now - mostly trading apps but I haven't tried them myself. Like Lee, I wouldn't really know where to start with it all. The circus surrounding Gametop and the accessibility of being able to do this just leaves me thinking it could turn very unstable and saturated although could be fun and profitable in the short term. I may take a deeper look sometime but the only thing I understand is cold hard cash!

[McNasty 260]

Sup fellas.  Tommy I've been day trading for about 5 years now.  Not full time or anything but I spend about 2 hours or so a day on it from around 9-11 and again at close.  I mostly swing trade different stocks for a few weeks or so in a variety of sectors.  I've used a few platforms and Fidelity is the only one I use now, and I recommend it to everyone.  Do not use Robinhood.  All the brokers have free trades now so go with a solid company (i.e. NOT robinhood lol).  Download Active Trader Pro on your computer and use that.  Don't trade from your phone.

 

Anyhow if you have any questions I've been a student of trading for quite a long time and can give plenty of advice/recommendations.  I had a bunch of friends that recently got into trading in the last few months with the GME/AMC stuff and helped them avoid some major fuckup ideas they had in their heads lol.  

 

Also if you want to drink from a firehose, Stocktwits is a fantastic app.  It's like twitter for stocks.  Just take everyone's posts with a grain of salt.  You'll eventually find traders to follow who know what they're doing.  Easily 90% of the people on there are morons typing out rocket ships and diamond hands and all that crap, but you can learn a ton from the other 10% because you're seeing active opinions on whats happening and what their game plan is (not youtube videos where people monday morning quarterback).  It's a great place to find opportunity, but then it's your job to do your DD and understand why you are investing and when to enter/exit.

 

My best general rule is to always enter a stock with 1/3 of the position you want.  If you want to gamble $1k on a particular stock, enter with $333.  Add another 1/3 on 5% dips until you get your full position.  If it doesn't dip, maybe average up along the way but never look back and say I wish I had put more in.  Thats what rookie traders do because they have no discipline.  They also go full in out of the gate and if it drops 10-20 percent they're left holding big bags instead of the traders who give themselves opportunities to average down with the same amount of invested capital.  Always ease into a position.

 

I learned the hard way like every new trader does, and it took a long time before I found my style and actually started making money.  I could go on for days but if you have any specific questions shoot em over. 

 

 

[Middle Class Caveman 980]

I have quite a bit of Bitcoin now, I usually buy when it dips. It’s going to continue to grow so it’s not a bad mid-long term bet. Still not as reliable as a decent trust fund etc.

 

I can share my codes here if you’d like to hope in? We both get some free Bitcoin if you buy using my app link

[BO7H B4RRELS 2,453]

On 3/4/2021 at 6:24 PM, McNasty said:

Sup fellas.  Tommy I've been day trading for about 5 years now.  Not full time or anything but I spend about 2 hours or so a day on it from around 9-11 and again at close.  I mostly swing trade different stocks for a few weeks or so in a variety of sectors.  I've used a few platforms and Fidelity is the only one I use now, and I recommend it to everyone.  Do not use Robinhood.  All the brokers have free trades now so go with a solid company (i.e. NOT robinhood lol).  Download Active Trader Pro on your computer and use that.  Don't trade from your phone.

 

Anyhow if you have any questions I've been a student of trading for quite a long time and can give plenty of advice/recommendations.  I had a bunch of friends that recently got into trading in the last few months with the GME/AMC stuff and helped them avoid some major fuckup ideas they had in their heads lol.  

 

Also if you want to drink from a firehose, Stocktwits is a fantastic app.  It's like twitter for stocks.  Just take everyone's posts with a grain of salt.  You'll eventually find traders to follow who know what they're doing.  Easily 90% of the people on there are morons typing out rocket ships and diamond hands and all that crap, but you can learn a ton from the other 10% because you're seeing active opinions on whats happening and what their game plan is (not youtube videos where people monday morning quarterback).  It's a great place to find opportunity, but then it's your job to do your DD and understand why you are investing and when to enter/exit.

 

My best general rule is to always enter a stock with 1/3 of the position you want.  If you want to gamble $1k on a particular stock, enter with $333.  Add another 1/3 on 5% dips until you get your full position.  If it doesn't dip, maybe average up along the way but never look back and say I wish I had put more in.  Thats what rookie traders do because they have no discipline.  They also go full in out of the gate and if it drops 10-20 percent they're left holding big bags instead of the traders who give themselves opportunities to average down with the same amount of invested capital.  Always ease into a position.

 

I learned the hard way like every new trader does, and it took a long time before I found my style and actually started making money.  I could go on for days but if you have any specific questions shoot em over. 

 

 

 

Thank you.  This is what I was hoping to find!  I'll be picking your brain for sure.  Right now, I don't know what I don't know.  

 

[cyberninja2601 1,106]

We've been investing in stocks for close to 25 years now.

 

Most of our retirement portfolio is stocked based. We aren't day traders. We have a longer term strategy which means less risk and steadier stocks

 

The first question you need to answer is what is your risk tolerance. 

 

The easiest is to invest in an index fund. Madoff for example. They will pick all of the stocks for you and you buy a collection of the stocks. You can also look at the holdings a pick the ones that do well or just buy what you like.

 

My key ones are apple, disney, berkshire, google, amazon, shopify, docusign

 

I don't do bit coin. 

[BO7H B4RRELS 2,453]

2 minutes ago, cyberninja2601 said:

We've been investing in stocks for close to 25 years now.

 

Most of our retirement portfolio is stocked based. We aren't day traders. We have a longer term strategy which means less risk and steadier stocks

 

The first question you need to answer is what is your risk tolerance. 

 

The easiest is to invest in an index fund. Madoff for example. They will pick all of the stocks for you and you buy a collection of the stocks. You can also look at the holdings a pick the ones that do well or just buy what you like.

 

My key ones are apple, disney, berkshire, google, amazon, shopify, docusign

 

I don't do bit coin. 

 

I've been doing the index fund stuff for about 15 years now.  I've been taking care of my long-term retirement type of things... but I'm just looking to have a little fun and be a little riskier for shits and giggles.  

 

Why do you not do crypto?  

 

[cyberninja2601 1,106]

On 3/4/2021 at 3:24 PM, McNasty said:

Sup fellas.  Tommy I've been day trading for about 5 years now.  Not full time or anything but I spend about 2 hours or so a day on it from around 9-11 and again at close.  I mostly swing trade different stocks for a few weeks or so in a variety of sectors.  I've used a few platforms and Fidelity is the only one I use now, and I recommend it to everyone.  Do not use Robinhood.  All the brokers have free trades now so go with a solid company (i.e. NOT robinhood lol).  Download Active Trader Pro on your computer and use that.  Don't trade from your phone.

 

Anyhow if you have any questions I've been a student of trading for quite a long time and can give plenty of advice/recommendations.  I had a bunch of friends that recently got into trading in the last few months with the GME/AMC stuff and helped them avoid some major fuckup ideas they had in their heads lol.  

 

Also if you want to drink from a firehose, Stocktwits is a fantastic app.  It's like twitter for stocks.  Just take everyone's posts with a grain of salt.  You'll eventually find traders to follow who know what they're doing.  Easily 90% of the people on there are morons typing out rocket ships and diamond hands and all that crap, but you can learn a ton from the other 10% because you're seeing active opinions on whats happening and what their game plan is (not youtube videos where people monday morning quarterback).  It's a great place to find opportunity, but then it's your job to do your DD and understand why you are investing and when to enter/exit.

 

My best general rule is to always enter a stock with 1/3 of the position you want.  If you want to gamble $1k on a particular stock, enter with $333.  Add another 1/3 on 5% dips until you get your full position.  If it doesn't dip, maybe average up along the way but never look back and say I wish I had put more in.  Thats what rookie traders do because they have no discipline.  They also go full in out of the gate and if it drops 10-20 percent they're left holding big bags instead of the traders who give themselves opportunities to average down with the same amount of invested capital.  Always ease into a position.

 

I learned the hard way like every new trader does, and it took a long time before I found my style and actually started making money.  I could go on for days but if you have any specific questions shoot em over. 

 

 

 

that's one strategy. I have not used it so I cannot comment on it's effectiveness

 

Ours is 

 80-20.   Invest 80% of what you are willing to invest in the stocks and keep 20% on hand for buyig opportunities

When a stock grows to more than 50%, take your gains and put it in the cash pool for the other buys opportunities

 

We had a broker before and that was his strategy. Now we just do it ourselves because it worked and my wife likes picking the stocks and she's pretty good at it

 

 

 

[cyberninja2601 1,106]

2 minutes ago, BO7H B4RRELS said:

 

I've been doing the index fund stuff for about 15 years now.  I've been taking care of my long-term retirement type of things... but I'm just looking to have a little fun and be a little riskier for shits and giggles.  

 

Why do you not do crypto?  

 

 

 

Crypto is too speculative for me. I am not that far from retirement so I try to pick safer bets.

 

I do see however most financial and banking funds are starting to include crypto. Some of my tech ETF have it, so I do not need to increase my position in them

 

Same reason I don't own tesla although its done incredibly well. I picked VW in stead. I see them having a better long run and perhaps even being acquired for the electric road map. the smartest thing tesla could do it to acquire them

 

My son who is working on getting his license as an investment adviser (and is a CPA) does invest in crypto. It's just not for me

 

 

 

 

 

[BO7H B4RRELS 2,453]

18 hours ago, cyberninja2601 said:

 

 

Crypto is too speculative for me. I am not that far from retirement so I try to pick safer bets.

 

That makes sense.  Thanks for your feedback.  

 

Side question:  How are you and your family doing?  Are you feeling more 'Merican now since you've been living here for a while?  lol.  I hope all is well.  

[cyberninja2601 1,106]

2 hours ago, BO7H B4RRELS said:

 

That makes sense.  Thanks for your feedback.  

 

Side question:  How are you and your family doing?  Are you feeling more 'Merican now since you've been living here for a while?  lol.  I hope all is well.  

 

We are doing alright thanks. Last year was shit for everyone.

 

We decided to move back to Canada. We actually leave next week which should be fun mid-pandemic.  

 

My wife can't handle the violence, crime, racism, protest and idiotic politicians.  The violence against Asians in the Bay Area has really gotten to her where she feels unsafe walking alone. The brings the dog everywhere. 

 

I see a lot of the facebook post from you and your family. Seems like all is good on side. Hope it is

 

 

 

[RenFengge 1,042]

34 minutes ago, cyberninja2601 said:

 

We are doing alright thanks. Last year was shit for everyone.

 

We decided to move back to Canada. We actually leave next week which should be fun mid-pandemic.  

 

My wife can't handle the violence, crime, racism, protest and idiotic politicians.  The violence against Asians in the Bay Area has really gotten to her where she feels unsafe walking alone. The brings the dog everywhere. 

 

I see a lot of the facebook post from you and your family. Seems like all is good on side. Hope it is

 

A bit jealous that you can move back to Canada. I really hope things get better here in the US, but I have been wanting to leave the US for a while. The past 4 years have made it a nightmare. I'm in the NYC area, and I've taken the same precautions here as I do when I'm outside NYC, which is bringing my US passport everywhere to make sure that people don't think I'm an "illegal"... or when some random ass "Karen" screams at me to show "my papers".

 

Sorry to hear that your wife feels unsafe, especially in the Bay Area. But, completely understandable. I have no clue how my cousins are dealing with it, but I don't think they go out by themselves anymore.

 

Hope you have a smooth transition back to Canada!

[BO7H B4RRELS 2,453]

Sorry to hear that, Pat.  

[Plumbers Crack 4,062]

Yeah, that sucks Pat...hope the move goes well 👍

[BO7H B4RRELS 2,453]

We need an FG Coin.  

[Hinaries 0]

On 3/5/2021 at 1:24 AM, McNasty said:

Sup fellas.  Tommy I've been day trading for about 5 years now.  Not full time or anything but I spend about 2 hours or so a day on it from around 9-11 and again at close.  I mostly swing trade different stocks for a few weeks or so in a variety of sectors.  I've used a few platforms and Fidelity is the only one I use now, and I recommend it to everyone.  Do not use Robinhood.  All the brokers have free trades now so go with a solid company (i.e. NOT robinhood lol).  Download Active Trader Pro on your computer and use that.  Don't trade from your phone.

 

Anyhow if you have any questions I've been a student of trading for quite a long time and can give plenty of advice/recommendations.  I had a bunch of friends that recently got into trading in the last few months with the GME/AMC stuff and helped them avoid some major fuckup ideas they had in their heads lol.  

 

Also if you want to drink from a firehose, Stocktwits is a fantastic app.  It's like twitter for stocks.  Just take everyone's posts with a grain of salt.  You'll eventually find traders to follow who know what they're doing.  Easily 90% of the people on there are morons typing out rocket ships and diamond hands and all that crap, but you can learn a ton from the other 10% because you're seeing active opinions on whats happening and what their game plan is (not youtube videos where people monday morning quarterback).  It's a great place to find opportunity, but then it's your job to do your DD and understand why you are investing and when to enter/exit.

 

My best general rule is to always enter a stock with 1/3 of the position you want.  If you want to gamble $1k on a particular stock, enter with $333.  Add another 1/3 on 5% dips until you get your full position.  If it doesn't dip, maybe average up along the way but never look back and say I wish I had put more in.  Thats what rookie traders do because they have no discipline.  They also go full in out of the gate and if it drops 10-20 percent they're left holding big bags instead of the traders who give themselves opportunities to average down with the same amount of invested capital.  Always ease into a position.

 

I learned the hard way like every new trader does, and it took a long time before I found my style and actually started making money.  I could go on for days but if you have any specific questions shoot em over. 

 

I also periodically trade crypto outside of the exchange. EO is a profitable solution since you bypass interest and exchange commissions and trade directly, more about this here - en.cryptoprocessing.com/otc-exchange.

Hello!

 

Yes, I trade Bitcoin and stocks. I've been doing this for several years now and I really enjoy it. I started with a small amount of money and gradually increased my deposit. I'm making a profit now, but that wasn't always the case. There were times when I lost money, but I always learned from my mistakes.

 

As for Coinbase and Webull, both brokers are reliable and secure. Coinbase offers a wider selection of cryptocurrencies than Webull. However, Webull offers lower fees for stock trading.

 

If you want to trade fractional shares, then Robinhood is a good option. However, I would not recommend using Robinhood to trade cryptocurrencies. Robinhood has a reputation for not always protecting its clients.