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/biz/ - Business & Finance

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954123 No.954123 [Reply] [Original]

Hello /biz/inessmen

First post on this particular board, /g/ oldfag reporting.

Looking to get into the stock market game. I have a bit of disposable income to begin trading with, though not much, yet. (about $500 USD I'm willing to risk)

Since the sticky didn't have any info, I'm asking you. Just the basics, and beginner advice. Such as...

>what's the best stock exchange site
>best place to keep track of the market
>how do I begin making a top notch portfolio
>how many different investments are too many/ too few
>current /biz/ memes, meme companies, and ironic jokes
>general basic tips and advice
>how much of a faggot am I?

Thanks for the help, gents.

>> No.954128

>>954123

>$500 USD

Get more capital then come back

>> No.954135

>>954128
I have more capital, but this is what I'm willing to risk trading for now. Essentially "throw away money, I'm now afraid to lose atm. I have another $1800 I'm planning to put into an IRA separate from my work 401k

>> No.954139

>>954123
>First post on this particular board, /g/ oldfag reporting.

Should't you be posting in Desktop threads, thinkpad shilling and fizzbuzzes in Haskell?

>> No.954144

buy index funds

>> No.954145

>>954139
I already did all those, today, /g/ent.
Haven't sucked off OSW Jim Keller, yet, though

>> No.954146

>>954144
Dubs checked

Also, resource links plz?

>> No.954150

Assuming 8 buy/sells

16 fees

so 3.2% just in fees....

come back with more capital.

>> No.954151

>>954145
I actually fell for the chinkpad, Debian and C++ memes tbqh.

But yeah you need more money senpai. Get $10k+ before investing in any memes.

>> No.954161

>>954150
Yeesh... Trade fees really that expensive?
Well, I'm here, anyway. Assuming I can cut out mountain dew and Doritos, and scrape up about 5k within the next year, what's the best COA?

Also, is Options house really as good as Google makes it out to be?

>> No.954164

>>954161
>Assuming I can cut out mountain dew and Doritos, and scrape up about 5k within the next year

You can scrape up $5k in a month senpai.

>> No.954165

>>954135
If thats what you're willing to risk then you might as well take it to a casino.

>> No.954172

>>954164
Not likely, I am married, after all lol. But I did just get a big raise with my latest promotion. This year, I will have made right around 58k gross, next year, with some luck, I'll clear 65k.

Doesn't sound like much, I'm sure, but I live in suburban GA. It's really good, especially considering I'm 24, no college debt, and my wife brings in another 35-40k.

>> No.954178

>>954172
You all ready made a terrible investment getting married, there is no reason to fuck up again.

>> No.954190

>>954178
Considering she's got a free ride scholarship ride to finish up her doctorate in pharmacology, and doing very well, I'd wager I was the bad investment, in this union lol.

>> No.954194

>>954190
Oh, I assumed you had/wanted children, she is going to (and rightly should) rely on you to be the bread winner when she is minding the children at home. Make sure you've gotten your feet wet by then if you plan to play business man.

For now I would recommend you use your free time to study business before you throw around cash and always make sure to fact check things you see here before throwing money on it.

>> No.954196

>>954190
>Under $100k double income
>doing well

Literally why even get married?

>> No.954211

>>954194
I plan to, I was just hoping for a resource list similar to what we have over on /g/

>>954196
To give you an idea of the area buying power, I bought a very nice 1800sqft 4 bedroom home, built in '99 on 5 acres in an all white, very good neighborhood for $105k. It's not even haunted. Plus, my wife hasn't even finished college yet.

Where I live, I'm doing great.

>> No.954216
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954216

>>>/reddit/

No, seriously check out /r/personalfinance and /r/investing. This is a meme board.

Also, this is why we need a sticky but mods are gay and won't let us.

Pic related is something I made in attempt for a sticky image, but like with all things financial no one can agree on anything, so that didn't work out either. It does have some very good resources and recommendations, though.

>> No.954219

>>954216
Thank you, based anon.

Yeah, I was pretty surprised at the lack of an informative sticky; of all boards, I figured /biz/ would have a big info dump.

>> No.954221

>>954216
That's not a bad start. Did you even have a mod look at it? We really need a sticky. This board is going to shit, there's only like a dozen people around anymore who aren't financially illiterate.
It was a little better about a year ago.

>> No.954232

>>954221
I still have the .pdn file from like a year back when I made this, in case of edits.

I just looked over it briefly now and I noticed a couple of mistakes (e.g. calling the S&P500 an index fund, rather than just an index.).

But as I said, for every one person that thinks it's a good idea to sticky something, another two disagree and want different information. But honestly we probably need a whole wiki. Then again a lot of the information is already out there, and rewriting it is unnecessary, and in that case doing a /sci/ approach would be better.

If anyone has the time to set up a wiki I'll gladly contribute with links and information. But there's been a lot of these types of discussions already and I doubt anything will happen.

>> No.954234
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954234

>>954211
I'm just....so sad reading this.

I'm happy for you anon, I am, I'm simply seeking alternative income means outside of my salary and real estate sounded like such a good one. Then I remembered I live in MA, that house would be $850,000 here.

>> No.954244

>>954219
KEEP COSTS LOW AND DIVERSIFY

Index funds are the easiest way to achieve this.

I recommend either MSCI World or S&P 500.

>> No.954246

>>954232
turn it into investing for dummies/newbies

and add the investment advice:
keep costs low

>> No.954249

>>954232
Start a sticky creation/ wiki thread. It's a slower board, so it'll stay up awhile, and people love contributing to actual board culture, for better or worse. That's how /hpg/ threads got so big with /g/

>>954234
Holy balls, really? Granted, somewhere like Atlanta, or even in town here would cost significantly more, but we're not a very big city, and I did get a petty good deal, since it was a buyers market, and I had a kickass realtor helping me with negotiations

>> No.954272

>>954249
My price range is $260k and I'm not seeing anything built earlier than 1980, and no yard bigger than 10,000 square feet. Even then they usually need repairs.

>> No.954294
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954294

>>954150
It's good to be an American.

>> No.954308

>>954123

Anything less than $10,000 and there is no reason to put it into any stock or fund.

At best, you'll get about 10% back in one year.

You are better off putting that money into a business or real estate investment.

>> No.954313

>>954308
>sure you could invest and maybe see 10% profit in a year, but that's dumb
>you should start up a risky business/low as fuck down payment on real estate investments
Makes no sense.

>> No.954323
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954323

>>954308
>real estate
>10k

Come on man.

>> No.954335

>>954272
Damn, bro... We needed a new A/C unit, and air handler, but that was pretty much it, aside from the improvements we did just because we wanted

>> No.954376

Question: Why not Nasdaq?

The tech market is kind of down overall, right now, but late 2016 will see AMD's new Zen processors, and lots of holdouts, private and corporate, will decide then whether to go AMD or Intel.

Plus, with the new die change and manufacturing process, we're going to be seeing virtually every desktop and many laptops and lower end mobile devices become obsolete in a much shorter time than usual.

>> No.954479

>>954219
You'd fucking think so, wouldn't you.

>> No.955331

>>954294
Lol.
It's good to know which brokerages are crap.

>> No.955344

>>954308
>$10,000
Try five or six times that.
If there's one thing I've learned, it's that you need a sizable pile of cash in order to pull salary level pay out of the market.
When I make the right call, I do it with hundreds or thousands of shares, not 20 or 30. That's the only way to maximize your skill.
It's not like you can't make good calls with less, but losing trades, SEC fees, and slippage will eat your account alive, and the percentages work against you.

>> No.956799

>>954135
2300 is not enough man. I tried with 5k and it wasn't enough. I had to throw in 1k to get out of a bad position.

Using Derivatives is by far and a way more cash light than trading stocks and I still needed that much. My risk tolerance is very low I only have max about 75% of the money in play at a time, typically earnings season. and of that only about half is risked b/c most of my strategies are neutral.

Tastytrade has huge archives and they trade using their own money, which is vitally important to your learning process because you get to learn how a professional deals with gains and losses. and they're free.