Dow Jones drops 2,100 Points, Trade halted

[Luc 4,776]

2 hours ago, Morphine Prince said:

I'm listening. Elborate PLEASE on behalf of us peasants!

I'm going to give the lame response, but 80%+ of money in the stock market is controlled by parties that make this their job, they have years of experience, studied for this, and they have mega computers that use algorithms to sell and buy at a really high speed. Because of this, the likelihood that someone who doesn't make this their life makes long-term gains from investing in a risky way or with short-term things is below 50%. 

 

Go to reddit.com/r/financialindependence for a safe strategy that doesn't cost much money, only takes about a few minutes a year, but will get you an average 7% gain per year.

[blankpaper 21]

22 minutes ago, JusKeepBreathin said:

It's not a good time. 

This is the best time. It’s on sale 

actually the best time would be to wait for it to drop even further 

[Economy 53,162]

4 hours ago, shoful said:

@Kimblue @FATCAT @Economy Tell us when and what to buy 

If I had money right now I'd buy oil stocks soon from companies that are well established to survive the downturn when oil goes back up

 

$30 a barrel is completely unsustainable and world production will collapse if it stayed at these prices for long

 

But healthy companies is key. Companies struggling may not survive and go bankrupt before things get better in energy market

 

I'd go with one without too much debt for example and decent cash flow

 

But do ur research u also gotta look at trade multiples, how dynamic and diversified a business is etc

 

Here in Canada Suncor (our argest energy company) is one of the most resilient there are. They haven't had large debt load for a long time, they have one of the most efficient and lowest cost operations and diversified business such as defining not just oil extraction

 

They also tend to be consistent with dividend which is a bonus. If it takes a while for stock to recover at least u get income from dividends while u wait

 

I've bought them in downturns before and sold it when market recovered

 

I'm just giving an example tho I haven't checked what their stock is trading at for a while. I'm not specifically telling u to buy that company

[PartySick 174,748]

4 hours ago, blankpaper said:

Invest in Purell haha 

I was going to say face masks and germ-x

[blankpaper 21]

4 minutes ago, PartySick said:

I was going to say face masks and germ-x

Really just P&G as a whole...that should cover plenty of cleaning products, soap, and toilet paper 😂

[PartySick 174,748]

1 minute ago, blankpaper said:

Really just P&G as a whole...that should cover plenty of cleaning products, soap, and toilet paper 😂

My high school world history teacher said he'd invest in paper products, batteries, and the like in the winter before hurricane season and sell in mid-Summer during the peak to make a "little chunk of change" 

I'm sure he's banking from this

[FATCAT 60,982]

11 minutes ago, PartySick said:

My high school world history teacher

You could have just said your crush 

[PartySick 174,748]

1 minute ago, FATCAT said:

You could have just said your crush 

Say sike right now 

The guy was/is evil

[Lord Temptation 11,209]

1 hour ago, LetsGetHigh said:

Invest in marijuana.

And art 

[Eighteen 5,430]

5 hours ago, FATCAT said:

Don't buy any stock in airliners/travel stock lmao

wouldn't it be a good time to buy stock? sooner or later they're gonna come back cause people won't stop traveling, i think 

[FATCAT 60,982]

1 minute ago, Eighteen said:

wouldn't it be a good time to buy stock? sooner or later they're gonna come back cause people won't stop traveling, i think 

Well they haven't really hit their minimums yet, not to mention how the eventual stimulus may factor into the prices.

[FentyGa 14,340]

6 hours ago, Mister G said:

Nope. Great Depression 2.0 but remember the president thinks it’s not a big deal.

wasn’t that the recession tho

[Mister G 10,531]

7 minutes ago, FentyGa said:

wasn’t that the recession tho

Back in 2008 yes. Just copying what someone else wrote on here about Great Depression 2.0 instead of the Roaring 20’s. Don’t judge me 

[Chromatic Lover 868]

4 hours ago, shoful said:

TELL ME WHAT TO DO KING

 

4 hours ago, Thomas said:

holy **** that is a sum of money alright... 

 

i’ve never ever invested, bought stocks or things like that. idk what any of this means. i just wanna know how y’all do it so i can become a little richer lmao

 

4 hours ago, Morphine Prince said:

I'm listening. Elborate PLEASE on behalf of us peasants!

I shorted Tesla. My broker is interactive brokers. So I borrowed roughly $28K in shares and when the price plummeted the difference was roughly $6.8K. So I made a profit of roughly 23% on the 28K. 

I have been stock trading for almost 5 years now so my brokage account have significant capital. Also, I don't pay capital gain taxes because I'm originally from Barbados and its really easy to avoid taxes here, so my account grew faster than usual because I don't have to declare any assets or stuff like that. Even though I live in the US, I stock trade as a Barbadian, cause I'm not about that paying almost 50% in taxes life. If I get caught then my ass is grass. Good thing Barbados is really insignificant to the globe so the US won't be knocking on their doors anytime soon. So that's a little backstory of how I was able to grow my account fairly quicker than normal. 

Also, this is hard work. And you have to be willing to study and study long hours. It's not easy but that's just for a while. Eventually you'll start to recognize patterns on your own and trade using your own analysis. Everyone is different and EMOTIONS will determine if you win or loose. The moment you start to feel happy that you're making money or sad that the markets is not going the way you want, you're setting yourself up to loose a lot of money.

Believe when I tell you that you have to be emotionless and plan your trades before going into the markets and trade that plan when you are actually in the markets itself. It sounds easy, but being emotionless is not easy. It's inhumane. That's why you have to control it. Yes I made 6.8K today but in December 2019 I lost almost 17K because I started becoming a bit cocky after always winning 12 days in a row. 

I recommend the Encyclopedia of chart patterns, I have a soft copy of this I can send it to you if you guys want. Back then I was poor so spending money on books was not gonna cut it when I could save that money and put it in the stock market. Also, you can check "how to day trade for a living by andrew aziz". I don't have this in soft copy but it's only about 6 or 7 dollars on Amazon. I have some other soft copy books that I've read. I'll try to find them for you guys if you want. But I have the encyclopedia of chart patterns definitely. 

[Chromatic Lover 868]

5 hours ago, Timmers said:

Somewhat on topic, somewhat off. Does anyone have recommendations for the best free way to learn day trading?

Watch YouTube videos about stock trading. The ones to stay away from are the ones that makes it seems easy. Stock trading is not easy by any stretch of the imagination in the beginning. Use academia.com to find free trading books. I have some in a flash drive that I'll have to look for but I have one really good book on me atm that I can send you you and some other users who may want it.