Anyone trade stocks? Questtrade/robinhood/iq

Gryllz

Gryllz

Member
Anyone have some beginner tips, or recommendations for a trading platform?

Looking to open an online account for trading stocks. I have a couple friends who trade with quest trade and a day trading platform and they make pretty good money as a part time gig.
 
I use thinkorswim and it's super nice. Theres a beginner and advanced mode, but even the beginner mode gives you a lot of leeway and advanced options, so it's not like you're clueless. For beginner tips, study candlesticks a fuck ton and trade stuff like the S&P 500 and futures market. super lucrative but can be risky. High risk = high reward.
 
I've invested my entire student loan into Tesla because Elon Musk is a genius and he makes cool cars. Noo way Tesla could fail
 
Stock trading as a non professional / institutional investor can't be used as a way to reliably make "pretty good money as a part time gig". Any gains your friends made can be chalked up to chance, luck, or a rising market which aligned with their time frame. This has been proven many times over in the industry.

It's a bummer to hear, but it's almost impossible to achieve any sort of Alpha when you consider the market is made up of high powered quant firms, hedge funds employing thousands of analysts smarter than you or I, and algorithms & bots eating up any arbitrage left over.

The small, individual investors who reliably capture Alpha ( making money attributed to skill) are either brilliant beyond belief, or manage assets of at least $5mm which allows them to access the necessary research to succeed. I work at such a research firm and the annual costs to access are huge.

In short, your time is probably better invested elsewhere.
 
Dub post, but I should add that actively trading the stock market is a fun hobby if you don't approach it with the intention of making money. But it sounds like you're looking to actively trade as a side gig, which is what my reply was about. My advice is usually: passively invest in the market, and take any time you would have devoted to Due Diligence and learn a skill / start a different side hustle.
 


 So the problem is that I don't have the luxury of a track record. Sir, let me reintroduce myself to you. My name is Donnie Azoff from Stratton Oakmont in New York City and I plan on being the top broker in my firm this year. So what about this? We start small with 500 shares, a cash outlay of $20,000. If the stock goes up 10%, will that make you a rich man? Of course not. If if goes down 10%, will it make you a poor man? No..

 What this trade will do is serve as a benchmark for future relationships. The downside is minimal and the upside is a long-term relationship with a broker on Wall Street who will consistently make you money. Your only regret will be that I didn't call you six months ago.
 
Don't listen to these guys. Yeah, you can't technically day trade on Robinhood, but you can still make short term trades.

The best advice I can give is make sure to place limit orders when trading lower volume stocks. If you place market orders on low volume stocks you could get a really bad price. Try to stick to more stable stocks. Yeah, you can make quick money on risky, small stocks..but you're more likely to make money (and have fun) short term trading more solid stocks.

As for platform, use Robinhood for sure. You can't pattern day trade until you have $25k, but you shouldn't be doing that until you get more experience anyway. Just get your feet in the water and test it out.

If you're also looking to start a retirement account just set up a Roth IRA on another site and put some money into low fee total market ETFs or something similar. Hmu if you have any questions about that also, very very good to start young. Have fun!

While you're at it, use my referral for Robinhood when you sign up and we'll both get a free stock:
http://share.robinhood.com/johnh595
 
13990836:CLQ said:
I've invested my entire student loan into Tesla because Elon Musk is a genius and he makes cool cars. Noo way Tesla could fail
Click to expand...

Sounds sarcastic but...He has said himself many times that all he needs Tesla to do is make $1 more than it cost to run and he'll be happy. It's not a money making venture. Very cool stuff, nice cars, but their goals as an energy company are to solve problems, not make money.
 
Fidelity or E-Trade

I'm not gonna sit around here and give you the crypto bro sales pitch (even though my name is Bitcoin) as it's a horrible investment if you aren't willing to learn about the technology, travel overseas to meet founders of extremely early stage companies & understand math-based currency beyond the ticker.

If you want good solid ROI I'd try a 5 year CD with a bank like citigroup or wells fargo, put 5K in and you'll get a guaranteed return at the end of the 5 years. 401k isn't a bad idea either. You are FDIC insured here, and there's literally no way you lose money.
 
13990836:CLQ said:
I've invested my entire student loan into Tesla because Elon Musk is a genius and he makes cool cars. Noo way Tesla could fail
Click to expand...

"considering taking Tesla private at $420 - funding secured"

Yeah I really trust this guy to make me money... No thanks.
 
13992000:Bitcoin said:
Fidelity or E-Trade

I'm not gonna sit around here and give you the crypto bro sales pitch (even though my name is Bitcoin) as it's a horrible investment if you aren't willing to learn about the technology, travel overseas to meet founders of extremely early stage companies & understand math-based currency beyond the ticker.

If you want good solid ROI I'd try a 5 year CD with a bank like citigroup or wells fargo, put 5K in and you'll get a guaranteed return at the end of the 5 years. 401k isn't a bad idea either. You are FDIC insured here, and there's literally no way you lose money.
Click to expand...

A CD? Why? If OP wants a super solid investment why not buy an investment grade bond fund? A CD loses money because you aren't even earning inflation
 
13992543:milk_man said:
A CD? Why? If OP wants a super solid investment why not buy an investment grade bond fund? A CD loses money because you aren't even earning inflation
Click to expand...

At that point I'd just suggest investing in a P & D
 
got to r/wallstreet bets

they are very friendly and love robinhood

all you need to know to become rich is "infinite leverage" and "guh"

you are welcome enjoy your millions
 
A lot of the major platforms such as TD removed their trading fees or at least made them tiny. No longer recommended robinhood.
 
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