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/biz/ - Business & Finance


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29212971 No.29212971 [Reply] [Original]

I've always been under the impression that stock trading is just some advanced form of gambling for rich people and you needed to have at least several grand just to get started to earn a profit of half a dollar each month.
Only now with the Gamestock Fiasco have I learned that some people can just buy at like 30 dollars and earn 300, and apparently some of you make thousands over weeks.
I roughly have 2K dollars in total to my name. I don't want to keep waking up at 5:30 AM to go to work and come back home at 6 PM.
What the fuck do I do to escape wageslaving? Do I really just need to open some account on a website like Firstrade and put money into random things hoping that the lines go up?
Please, I want to escape this hell

>> No.29213031

>>29212971
Just find a trading platform you would like to use then lurk in trading discords and in biz or reddit and buy something you would like. Idk else I'm kinda new too I started last year

>> No.29213096

I think it's best to get find a trading platform, put some money there and trade with small amounts just to see what is happening and how everything works.
Other that probably a lot of lurking and learning the terms that are commonly used.

Any thoughts on that?

>> No.29213192

>>29212971
you will most likely lose it all trying to trade.
tip: go all in one of these

utu
link
qnt
albt
all blockchain agnostic and have partnerships that matter.

>> No.29213273

>>29212971
Stonks are manipulated to hell. Trade crypto.

>> No.29213331

>>29212971
Put 2k into Crypto. Buy $DOT, $KSM, $INJ. You will be happy by the end of the year. How does $50k sound?

>> No.29213380

>>29212971
kek I made like 500k since November 2020. You literally just throw all your money in and do your best to time it right.

>> No.29213384

>>29213273
>>29212971
dont trade crypto, just get good picks a hodl
i want you to make it anon.

>>29213331
out of these dot and inj are good but albt and utu are better anon. more use cases

>> No.29213430

>>29212971
Wait for a correction in March and buy crypto.

>> No.29213474

>>29213430
>>29212971
don't listen to this bs

>> No.29213477

Also don't buy shitcoins until you know what you're doing. Buy BTC/ETH.

Sign up on an exchange and pass the verification beforehand so that you can get in early when the crash happens.

>> No.29213535

>>29213192
>qnt
just skimmed over it on mc, if I understood the pitch well its akin to link but blockchain-to-blockchain and not irl-to-blockchain. Is that it basicaly?

>> No.29213539

>>29213474
Fuck of pajeet, have some decency and don't shill your garbage to poorfags.

>> No.29213546

>>29213031
>>29213096
Is it really that simple? I don't need to go through weird bank regulations and permissions? My biggest worry is that I'll just open an account on a trading platform and get hit with fines due to regulations I knew nothing about.
>>29213192
I know at least not to put more money than I can lose into these things, though I don't know what's the minimum I need to put into this to truly get a feel for trading.
>>29213273
>>29213384
>>29213430
My rough understanding is that ETFs or index funds or whatever they are should be where most of my cash goes if I want a safe investment, though I do wanna try my hand at crypto later down the line once I feel safe enough to do so

>> No.29213611

>>29213546
>>29213096
I'm a newfag so that's just something I threw in here. I have no idea.

>> No.29213620

If you want to make money day trading you will still need to wake up early and it is work. But honestly do not start with day trading. Start with paper trading or a small number of stocks on one platform. Do only limit buys and limit sells and study.

>> No.29213676

>>29213535
*cmc

>> No.29213737

>>29212971
Stock trading is a meme. Crypto is where the real money is made.

>> No.29213808

Starting point? https://www.bogleheads.org/wiki/Getting_Started

Gotta walk before you can run.

>> No.29213821

>>29212971
not sure if trolling but you'll lose everything with that mindset especially coming to biz for advice. lurk moar

>> No.29213834

>>29213539
garbage...

>>29213535
DLT interoperability so yeah, connecting all blockchains. shit like that

>>29213546
yes, what you can afford to lose, maybe start with 100 in utu or albt. always DYOR

>> No.29213857

You can’t make it Anon, and you never will, come to terms and cope that you’re just not intelligent enough for that kind of lifestyle. The ones who do make it never ask these kinds of questions. There’s nothing wrong with working, just get yourself into a good retirement plan, and enjoy your 2 days off and 2 weeks paid vacation a year. It’s not that bad anon. Cheer up buddy. Long term investments over 30-40 years are more your speed. Trust me on this one

>> No.29213854

>>29213546
>Is it really that simple? I don't need to go through weird bank regulations and permissions? My biggest worry is that I'll just open an account on a trading platform and get hit with fines due to regulations I knew nothing about.

It is really that simple. The hard thing is not knowing what the fuck will happen. I started during the first spike. 2020 March times. If you're UK you could use trading212, low fees but not all stocks are available. You can open a Binance account RIGHT FUCKING NOW IN TWO SECONDS AND START TRADING YOU DICK. Yeah, pretty easy. I think theres something called Kraken and atm I'm using Coinbase pro. Don't use normal coinbase it's a WALLET not for investing. It will drain you with fees. Coinbase Pro don't forget.

>> No.29214459

>>29213546
>My rough understanding is that ETFs or index funds or whatever they are should be where most of my cash goes if I want a safe investment
This is dumb boomer logic. You only have $2k, so putting most of it in an index fund is just a huge waste of time. You need to find something with potential, get in early, and invest big. What >>29213192 and >>29213331 said is tried and tested strategy. If tou want to find other coins with potential, follow top crypto related YouTube channels. Remember:
>get in early
>buy when the price is low
>when there's an opportunity, buy big
It might also be worth looking into some ta but you'll probably mess it up so just trust in the plan.

>> No.29214704
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29214704

>>29212971
Are you me?
t. also wageslave with almost nothing to his name trying to make it

>> No.29214840

>>29213430
lol what? we only go up from here. cry bear

>> No.29215098

>>29213546
If you're in US just open a robinhood account. There's no account minimums, no commissions (you don't need to pay to make a trade) - the only thing you need to worry about is tax if you make anything. The barrier to entry is as low as its ever been. The hard part is finding strat that works and sticking to it if you want to do anything beyond shoving stuff in ETF and leaving it for years

>> No.29215334
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29215334

>>29212971
In order to win at individual stonk trading, you need to predict what future goldberg will value these stonks at better than current goldberg.

The vast majority of people are unable to do this even when it comes to sectors that interest them. Goldberg has teams of advisors trying to understand and predict future valuations.

Your goal of making it soon is unrealistic. What will likely happen is that you will shrink your wealth considerably. That is what happens to over 75% of retail.

You're unlikely to be able to beat the market. Put your savings primarily in index funds and more specialized ETFs (exchange traded funds) that invest in long term nobrainer growth sectors that aren't sexy to normies, such as the semiconductor industry.

Growth sectors you might want to avoid because they are too sexy to normies and already in superbubble mode is for example the electric vehicle industry. There are manufacturers that are really good value and will go great in the EV market of the future like Tata Motors and Ford (both around 10 PE with great future prospects), but none of the pure EV plays aren't massive bubblefests. It's like the dotcom bubble. Sure it's a growth sector, but almost everything is inflated way beyond reasonable future earnings expectations mean they should be.

Don't fomo into stuff after normies have fomo'd, such as the recent weed ETF/stocks fomo. Be prudent.

If you really want "rather safe but still pretty good potential" advice for crypto, then invest in:
LINK
ETH

I hold a lot more stuff, but most of it is much more risky. Don't listen to anons telling you to buy stuff like QNT. It's much safer than most cryptos, but they're nowhere near not easily being disrupted by more efficient solutions.

Also, never play with margin. If you want to go balls to the walls, buy long term Call or Put options instead. Your downside is then limited to what you spent.

t. physically disabled neet who became millionaire through options and crypto

>> No.29216467

Park 1k into Fantom and another 1k into GRT and come back in a few months to like 20 grand