Back
The War Room
Advice
Post

Getting into investing, stocks, etc

I have a portfolio with a portfolio manager, but any advice out there on how to get started on your own? I feel like I want to get involved but just dont really know where to start or what to do..

๐Ÿฑ Off-Topic
7
salesnerd
WR Officer
+16
Head of Growth
Decide what you want to do:ย 

1) Fuck around with stocks, learn stuff: downloadย Robinhood (or a Robinhood alternative, fuck those guys) and drop a thousand bucks or whatever you're comfortable losing in the account. Do some research on some stocks, buy, sell, etc.

2) Actually make money in the stock market: go to a real broker (I use Merrill Edge) and put in as much money as you want. Put 70% of your money in ETFs (SPY, VTI, VOO), 20% into big company stocks (GOOG, NFLX, PG, AAPL, etc.), and 10% into wonky moonshot stocks (COIN, CLNE, ASRT, GNRS, THCB, etc.)
1nbatopshotfan
Politicker
+5
Senior Director, Enterprise Technology
Read โ€œThe Little Book of Common Sense Investingโ€ by John Bogle, and then invest in mutual funds, without an advisor, that have the lowest fees possible.ย 
Telehealth_2the_Moon
Notable Contributor
+12
Director of Business Development
A ton of research first. I don't think you need to understand all the math and numbers behind it, but there is plenty to learn about general portfolio recommendations for how much of what you have.ย 

It also depends on your personal finances (ex. Do you have a good safety net fund already? Where do you stand with different types of debt?) and your goals (long-term growth/retirement type things or try and make money). Both of those impact the other.

What type of goals do you have for investing?ย 
DwightsEgo
Politicker
+3
BDR Manager
Yeah the research side of it is what has really kept me away. I guess my goals would be to "make some money" but ultimately pass the time. Maybe investing aint it haha
SADNESSLieutenant
Arsonist
+8
SDR
fk a portfolio manager no cap, get control of your investment, invest in companies you believe in, ie. apple, slack, zoom, salesforce, and companies you believe will grow ie. ai space, big data space, electric space, cloud space, crypto space.ย 

Identify your goals, short term, long term, exit strategy etc.

I personally like to dip after 4x and throw into something with more momentum but if you have enough cash and longterm goals let it sit otherwise identify what price you want to enter and what price you want to leave and why, get into graph analysis, averages, learn about head and shoulders, bull flag, etc. get familiar with trends and trend averages.

Analyze company earnings as well to determine if they are financially fit

if you want big returns you need either a big risk, alot of money playing, or alot of time in the market, most of the time its a combination of the three.

Im no genius but I did double my parents life savings account by age 18
DwightsEgo
Politicker
+3
BDR Manager
hm this is interesting and compelling...Definitely need to do more research, but I dig your mentalityย 

rekled
Opinionated
+2
Strategic Account Executive
I tried my hand at full-time retail trading for a few years.ย 

1. Research is definitely key, but with specific emphasis on the market you want to trade.ย 

2. Get to know yourself inside / out. Know what motivates you to trade - layout your specific goals. Are you the type of person that can remain committed, or do you bailout at the first sign of risk.


3. Be comfortable with knowing the money that you're trading can be lost.ย  ย 

4. While there are pros/cons to this approach, use a trading simulator for a period of time to test your trading methodology and timeframe that you're intending to trade. If you cannot make money in a simulated environment, you will likely not make money in a real trading environment.ย 

5. Plan your trades (to include entry, stops and exists). Otherwise, randomness will only lead to random results.ย 
JDialz
Politicker
+5
COO
If you think professional advice is expensive, wait until you see how much free advice costs.ย 
E_Money
Arsonist
+8
Outbound Sales Manager- US
DOGE COIN BABY. I made like $2000 in the last 48 hours

lol but yeah.. I don't know shit about actual investing
3
Dividend Investing
Discussion
11
5
Best brokerage for trading stocks
Discussion
18
21
Investing Money
Question
39