Hello, as promised this post is an update (more like DOWN-DATE…WAY WAY DOWN) on my foray into the realm of trading equities. It is said that 90% of first time investors lose money. I am definitely among that majority. However, I have learned a lot and will dedicate this to describe some good platforms and places to go to learn.
INVEST ONLY WHAT YOU ARE PREPARED TO LOSE!
There are several investing platforms out there that are mobile friendly. I am not sure about the availability in your state/country. These are the ones I’ve tried.
- Robinhood Investing- This was the one I tried first and have used the most (as I have deposited the most money into this one), and I will use the term DOUBLE-EDGED SWORD to describe it. This app is super easy to use!! It offers straight-up buying and selling for stocks, options, spreads, and a few crypto currencies. Link a bank account if your choice, once the deposit and application go through BOOM, your ready. The charts are not fancy and the ease of it is what makes it so scary. If you go into this just doing token research and not actually knowing what your doing. YOU WILL LOSE MONEY. They offer instant availability of funds after your first deposit and it’s set up so that you cannot lose more than your investment or secured deposit amount. I like this app and it drove me to become more knowledgeable. All trades are FREE. Where they get you is by submitting market orders above or below your strike a little here and there. Limit orders sometimes to not fill in a timely manner and be careful about being labeled a PATTERN DAY TRADER. This is when you buy/sell the same stock or option for the same equity on the same day. If you get that label you will have to hold a particular position for 7 days. THIS CAN/WILL COST YOU MONEY.
- However if you are wanting to buy and hold a stock or make 1-2 trades a week. I recommend this app big time. They have an offer that when you join if referred m, you and the person who referred you get a free stock (1-100 chance of getting one of the Big boys). I have received Groupon and SIRI. I’m go into post my referral link. Please use it, even if you don’t please invest for the fun and the excitement and the potential for long term wealth building. Diversify and RESEARCH l, learn terminology and bet on companies you use and have faith in.
Here are some screen shots and good luck!!
YES! That last one represents my current balance and thanks to my overconfidence regarding my knowledge base I am down $325 total. I call it my educational expense as I am vastly more informed and realize that
When your swinging for the fences the probability of striking out grows exponentially!!
Hmmmm, this is much longer than I anticipated, so I’m going to break this up into 5 or 6 parts.. still to come WeBull, Jellifin, Coinbase, Abra, Blockchain, STOCKTWITS and decent free sources for research and terminology (INVESTOPEDIA!)
I AM AN AMATUER INVESTOR, please do
Your Own Research!! This is not financial advice for PETE’s SAKE!!
I do however encourage everyone to dabble their spare change in our dynamic economic system! It’s fun and a hell of a lot more exciting than any LOTTERY!
Thanks for reading and please leave me a like or a comment. I have gotten many many more views than anticipated and would really love to hear from some of y’all.. Remember
DO WHAT YOU LOVE, EVERYDAY!!
Talk to ya soon