/biz/ - Business & Finance

[First 1000 No.801381]

Sup /biz/ i just funded my tradeking account with my first 1000 dollars i made in my summer job. I have grown over the last 6 months on my stock simulator and i am ready to invest real money. I was thinking if i should split the total in the middle and and spend 500 on the risker stocks and 500 on the long term. ( i will be investing 1000 monthly now) . I was looking into vanguard ETFs and couldnt find exactly something i wanted to. I know i probably sound very young and novice with this post but i am honestly trying to learn as much as i can. Any input is appreciated

[Anonymous No.801395]

>>801381

Sweet, congrats on your first $1000 in savings ^^

How much have you grown in your stock simulator over the six months, how much did you start with and what is your current worth?

[Anonymous No.801398]

what did you invest in on your sim account?

[Anonymous No.801401]

>>801395
This is what I have done since last February actually. I stopped trading a lot last month because of school and work and have kinda been using it to watch the market rather than learn to trade

[First 1000 No.801403]

>>801398
swinging dwti to uwti on the daily... i ended losing some money because i couldnt transfer over in the right times

[First 1000 No.801408]

>>801395
>>801398
my first 11 trades were negative, then i started getting the hang of things and had 20 positive transaction in a row

[Anonymous No.801411]

>>801401

Not bad, very good returns, and you averaged $125 per trade

And only averaging about 8 trades a month, even better, shows you thought about what you did lol

Well, since you're only starting off with $1000 I would recommend just investing it the same way you've been doing

Then with the extra $1000 you get every month into the account, I advise to put half of it into a high interest savings account and just let that keep growing, till you get like $10,000

You'll still have $6000 a year to play with, plus your returns, which if you continue at 33%, is not bad at all

Don't go investing everything, doesn't matter if it's risky or not, always a good idea to have a large chunk of cash on hand if you ever need to buy big

I currently have about 8k in my portfolio, and I make around 27% per month, only had it for the last year now

I started with like $5000, and I'm just saving up the money I get per month in a savings account, which nets me about 2.6% monthly

I have like $46,000 just sitting in the savings account, waiting until I need to buy big, when something like NFLX or Snapchat comes along at a good price.

That's my advice, basically just have a large chunk "waiting" to be used, but growing as well

[Anonymous No.801418]

>>801411
If he is trading 8 times a month with 1000 dollars he is losing 8% (average fee $6 per buy/sell) to commissions alone. He needs to buy and hold. I would advise only buying in 2500 dollar increments unless there has been a significant downturn (like right now) to cost average effectively.

[Anonymous No.801426]

>>801418

He wouldn't even be able to afford 8 trades, I thought he would know that since he has 1/20th of the money IRL vs the sim lol

But yeah, OP make sure you trade much less, but larger amounts like this anon said, the fees will kill you

(another reason to have more $ before you trade)

[First 1000 No.801427]

>>801411
wow man that sounds nice! which bank do you have that high interest savings account with? 2.6 per month sounds amazing..

[First 1000 No.801431]

>>801426
my first 3000 dollars of commish for trades is off. i got a promo or something

[Anonymous No.801432]

>>801427

I have BMO bank of montreal here in Canada, I have to deposit a minimum of $200 a month though, or else I don't get the interest for that month

I think you can still do it, look into it haha

[First 1000 No.801433]

>>801432
oh fuck do you know any comparable here in the us?

[Anonymous No.801440]

>>801433

jesus US rates are so low wtf!!!

[Anonymous No.801482]

Go long on AGEN
And short term on UGAZ