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Lasraik

What games are you currently playing?

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Don't you have a 401K?  Or some other kind of retirement fund? You are basically paying someone to do something you could do better yourself, because you actually care what happens to it.  If ANYONE loses it all then they are doing it wrong, and taking risks that should not be taken.  I do some high risk things from time to time, but only with 1-5% of my portfolio and a deep understanding of the risks involved.  All I do is look for stocks that I think are undervalued, or may have some kind of catalyst coming.  I belong to secret forum on Reddit with a couple very smart people and sometimes I follow those plays.

2 things you can do with little or no risk.  1. paper trade.  Download TOS, set up an account and I'll get you started with some stocks or strategies.  2.  Once you feel comfortable mechanically or have had some moderate success on the paper trade (fake money real stock market), start with as little of 500 of your own money and play it slow.

One of my favorite market related quotes is “The stock market is a device to transfer money from the impatient to the patient.”

 

I got into it because I thought...why am I letting someone else plan my retirement?  Why am I paying someone else for 3-5% gains when I can double it just by paying a little bit of attention?

It opened up a whole new world of raid bosses that had patterns to discover and defeat.

The guy who got me started taught me to play options and I lost.  Don't start with options, they are the most advanced and high risk tool there is.  Just pick one or two companies you know and buy some of their stock.  That's how you start.

I would recommend starting with the goal of taking 500$ and turning it into a safety net.  Once you have built your own safety net then think about other things.

If you can't afford to lose because you have no safety net...what are you going to do about it?

 

Edited by Jag

People are stupid; given proper motivation, almost anyone will believe almost anything. Because people are stupid, they will believe a lie because they want to believe it's true, or because they are afraid it might be true.

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I have a state pension, which is just enough to survive on, and a career pension, which will leave me reasonably comfortable. 

Surely there must be some element of risk in what you're doing Jag? Could your investments weather a serious economic crash?

 


May the Force Live Long and Prosper.

Cynical Optimist

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On 9/6/2021 at 6:20 AM, Pasanda said:

I have a state pension, which is just enough to survive on, and a career pension, which will leave me reasonably comfortable. 

Surely there must be some element of risk in what you're doing Jag? Could your investments weather a serious economic crash?

 

There are no pensions anymore in the US.  So if the market crashes so does everyone's 401k.  There is always risk in investment.  It just needs to be managed as best as possible.  From what I have seen, barring a great depression, you can afford the losses, but you can't miss the gains.  Because even when things drop they don't seem to drop below the gains.

I mostly look for and buy already devalued or undervalued stock then sell options on them from time to time.  When you lose that way, you don't really lose money, you lose time, because the time value of stocks is always going up.  Every crash ends in a new record high.  I also put away a % into volatility stock as a hedge so when the inevitable crashes come there is profit there as well.

Risk management is the foundation of the game.


People are stupid; given proper motivation, almost anyone will believe almost anything. Because people are stupid, they will believe a lie because they want to believe it's true, or because they are afraid it might be true.

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Thanks. If i did it at all, it would need to be surplus money that wasn't needed for anything else. I'm not sure i'd have the courage to invest money that was essential for liquidity, survival, or necessary elements of our future. 

 

I did try to start up an investment club with neighbours and acquaintances a few years back, but there wasn't sufficient interest. I was interested in investing in more than stocks and share too - Things such as antiques, art and wine were also on my list. But i think i was alone in that.


May the Force Live Long and Prosper.

Cynical Optimist

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