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Investing

A-machine-insp
I have some extra cash laying around so instead of spending it on dumb stuff (I'm prone to that) I decided to start investing. I signed up for Fidelity last night, since that is where my IRA is, and made some trades this morning. So far I'm up $12 Sunglasses.

Anybody else do this for fun? What do you invest in? Any tips for a noob?
  • in reply to louisd
    I put $2500 into crypto (via coinbase) this year, Ethereum and Compound. The gains i made in Ether have so far offset the losses i have in compound, It's at $2534 right now.
    If i jumped ship, back in the beginning of September i would have had $3900.
    Also, I've been investing in my company for a while now with a 15% employee stock discount. West Pharma (WST), it's only going to continue to grow as a result of this never-ending pandemic. we supply the caps for the vials, as well as other components to contain the vaccine and test samples.
  • I'll give you 2 stocks that I watch TQQQ and SQQQ, These are called ETFs. These 2 react opposite each other, they follow Tech stocks, basically Nasdaq, Anyways, TQQQ follows Nasdaq up when it goes up, and down when it goes down. SQQQ is opposite. If Nasdaq goes up, it goes down, if Nasdaq goes down it goes up. Be very careful with ETF's. They move 3 times faster, So you can make 3 times more or you can lose 3 times fast. Like today and yesterday, stocks started to sink. Would have made good money on SQQQ. Last week you would have done good with TQQQ
  • Be very careful with ETF's. They move 3 times faster, So you can make 3 times more or you can move 3 times fast. Like today and yesterday, stocks started to sink. Would have made good money on SQQQ. Last week you would have done good with TQQQ

    I didn't know what you meant by these ETF's moving 3X faster, but I see that those are leveraged ETFs - they borrowed money to increase shareholding (I just mentioned that to clarify for others). Not all ETF's are leveraged like that. For example QQQ is the non-leveraged ETF of TQQQ.

    I could see how you can quickly make/loose a lot of money with those particular ETFs. Thanks for sharing those. Tempting stuff.
  • Rolling eyesRolling eyes


    I didn't know what you meant by these ETF's moving 3X faster, but I see that those are leveraged ETFs - they borrowed money to increase shareholding (I just mentioned that to clarify for others). Not all ETF's are leveraged like that. For example QQQ is the non-leveraged ETF of TQQQ.

    I could see how you can quickly make/loose a lot of money with those particular ETFs. Thanks for sharing those. Tempting stuff.


    yeah they play off of QQQ actually, just didn’t want to throw to much into that fireRolling eyes
  • Back in June I jumped on board with all that AMC who hah, I bought $7,000 dollars worth I think it was like 418 shares? Anyways 4 days later it exploded up from $14 a share to $72, cashed out at $21,900 profit. P/L open was how much I was up and P/L day was how much I was up that day. That was nice

    {"data-align":"none","data-size":"medium","data-attachmentid":505709}

    What app are you using?


  • What app are you using?

    Think or Swim, with TD Ameritrade
  • Ha-ha! A month ago, I also decided to slowly invest, instead of spending money on all sorts of unnecessary things.
    To begin with, I decided to buy currency, since our ruble has a habit of falling sharply. I bought a N-amount dollars and after the new year the ruble weakened a little and I got a profit. I think to buy some more bucks Sunglasses
    In the future, I may start buying shares of enterprises.

    By the way, do you also need to pay profit tax on the winnings on the stock exchange? In our country, they did it quite recently.
  • Ha-ha! A month ago, I also decided to slowly invest, instead of spending money on all sorts of unnecessary things.
    To begin with, I decided to buy currency, since our ruble has a habit of falling sharply. I bought a N-amount dollars and after the new year the ruble weakened a little and I got a profit. I think to buy some more bucks Sunglasses
    In the future, I may start buying shares of enterprises.

    By the way, do you also need to pay profit tax on the winnings on the stock exchange? In our country, they did it quite recently.

    Yes, in the USA we normally do need to pay taxes on the winnings. They call it 'capital gains taxes' here. It can be very complicated. Basically we pay a high tax rate if we sell a stock less than a year after we bought it. There is a lower tax rate if you hold a stock longer than a year. Either way the tax rate is based on your annual income, the more money you make the higher the rate gets. If you don't make much money the rate can actually be zero, which is nice for people who are retired and living a modest life.

    To make it more complicated, there are retirement investment accounts that defer the taxes. These accounts allow us to buy stocks while we are working without paying taxes, but we can't sell them until we are retired. Then we will have to pay taxes on them. It seems silly but it can actually allow someone to get more money from their investments in the long term.

    That is just the basics. Our tax system is super complicated. There are lots of different rules - too many for most people to know on their own, so there are professionals that can be hired to help people with taxes. There are even ways for people to pay very little taxes if they know the rules well enough - even very rich people. It is a very controversial matter here that is discussed frequently in the news.
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