/biz/ - Business & Finance

>futures

Power hour confirmed

well shit

>>26881727
>Do any of you use those apps to play stock options with pretend money? Do you think it would help someone new or should I just put some real money in?
Paper trading is only useful if you're confused on the actual mechanics of the trading platform. There is very little to be learned as far as trading skills go. Especially when accounting for slippage, spreads, partial fills, etc. what you see when paper trading can be very different from how real trading goes.
>GME
You aren't ready for meme stocks yet, anon so don't feel like you missed anything.
>Is there any advantage to using a local broker and eating their fees?
Not really. Any useful information you're likely to find to aid your trading will be found online so there's very little a local broker is going to do for you. That "personal touch" shit is from another time and you don't need to pay for it. As far as taxes go, there's no difference between what you're talking about and e.g. Robinhood or TDA.
>make a steady $500 a week. Is that doable with $6k of cash to start off?
You're gonna lose your money thinking like that. You don't tell the market what to do. You take what it gives. Some days that might be nothing, some days just a little, and some days you have to pay the piper. The best you can do is come up with a trading plan that has an edge, i.e., it makes more than it loses, execute that plan and see how things turn out. There are many trading methods that more or less work. Value investing where you buy big dips on good names like AAPL, TSM, etc. works. This is called mean reversion. You can also try trading with the trend, that is see what's moving up and buy in then get out when the trend heads back down. Momentum trading is what that's usually called.
At any rate, do some reading and pick something. In a few years when you figure out what you're doing you'll do okay.
Or just get lucky like me and go all in on something like SOXL on a big dip and ride it to the moon. That works too :)

>>26203184
>I’m excited in a way I haven’t been for a few years
Just try to have fun and don't put too much in until you get your feet wet. I'm rooting for you

>>24739005
I already sold 2 put credit spreads on SPY today though. Did I fuck up? I'm new

>SOXL down in premarket