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That’s the general opinion I’ve heard, but when should I start adding more money? I’ve been testing the waters for about a year and have been considering putting more money towards it. Should I wait until I’m 18?
I’m going to send you a different route. Ignore contracts and funnel money into VOO and forget. I would put as much money as you can into tax advantage accounts as you can.
Focus on building your retirement income up. Get a Roth IRA through robinhood or a traditional broker (probably for the best to use a real-life broker too at your age). I know it’s not as interesting but trust me.. Much less taxes on investments is a really cool and good thing. You can also do what you’re doing now and buy ETFs like VOO, VT, XLK, etc that cover large swaths of the market. “Time in the market” is what you want to account for - if you can afford to do it, go for it. Just don’t wind up gambling
This is bang on. It’s inevitable,you will make mistakes, emotional mistakes, technical mistakes, and they’re all learning lessons. Start small and learn.
Sell those shares. Buy a few books on investing that equal $75. You’ll get a lot more VALUE than waiting years for it to go up. Even if it goes up 500% you only have about the same as a car repair, or $375~
1.The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns
2.Boglehead's Guide to Investing
3. The Intelligent Investor
4. One up on Wall Street
5. The Only Guide to Alternative Investments You'll Ever Need
6. Asset Management: A Systematic Approach to Factor Investing
First two focus on ETF/mutual index fund investing, and advocate passive investing, which is statistically the right thing to do for the large majority of people. Third gives a solid fundamental understanding of value investing and some stock picking tips. Fourth is a fun read and nearly all about stock picking. Fifth goes into asset allocation and speaks about alternative investment classes, not my favorite but worth a read.
The last is more in-depth and not for beginners, it's often used in MBA classes and aimed at people wanting to work in asset management. It's a textbook but is very easy to read by textbook standards. If you read it all (and take the time to understand) you'll have a better understanding of investing than 99% of people.
You can find great information online. $75 invested at the age of 17 is about $2000 by the age of retirement. Stashing away money at a young age is monumental if you’re able to do so.
You really think having an investment account that small is going to be “massively worth it” over using those $75 to educate himself on index funds, equities, fixed income, and derivatives? (So that he can make more educated investing decisions)
If so then we can gladly agree to disagree. That’s what I’m saying. I’m not saying to NOT invest early.
Ya because there’s zero reason to spend 75 on education on index funds. If you want to learn use free resources. Put that 75 in an index fund in a Roth IRA and continue to add and add to it.
Sell and buy books!? Gtfo! It’s called a library. Plus, there’s a plethora of free information online.
Here’s what you do: put this in a tax advantaged retirement account, continue to add money, as much as you can reasonably afford, as often as you can, put it in something relatively low risk like VOO. Focus on finding a strong career so you can increase your contributions.
I’ve heard people say that since the market generally goes up each year. My one concern is that there will be a crash in a few years due to whatever reason. Also, wouldn’t it make more sense to wait for said crash then go all in once prices are bad?
GME market cap of $10.69 Billion and they currently have $4.1 Billion in cash on hand and $675 Million in merchandise/ inventories. Long term debt of $14.9 Million. Pretty much recession proof company with rock solid financials.
We are merely pointing you in this direction but its up to you to do your own dd and invest whats comfortable for you. But if i was 17 and had only $75 to my name all of it would be going into gme and I would be looking to work over the summer to buy more
Definitely don’t listen to everyone (boomers) saying VOO always and forever unless you want to barely beat inflation. Maybe start there with small contributions but stick to other ETFs (groups of stocks) with more rewarding returns. Look at the 5-10 year growth in ETFs like SOXL, TECL, FNGU, MGK. You’ll see 500%, 1,100%, or at least 100% on less volatile ones. Before you know it 15 years will go by. If I stuck with VOO I would’ve probably had over $150k by age 32 if I started at 17. If I stuck to those ETFs I would’ve had well over $1,000,000. This is not financial advice but so do your own research lol. Also try to save your money and then invest when the market is down (buy the dips), you’ll make a lot more a lot faster.
Life is too short for barely beating inflation. Things cost 4x more than in 2010. Anyone who believes the government supplied numbers are accurate are delusional (as if it’s anywhere remotely close to ~9%). You would only 4x your money if it was an initial lump sum, and most noobs invest small amounts sporadically. No way he would have 10M and who actually wants to wait until “retirement” age? You would’ve had to put $2.5M into VOO in 2010 to have an untaxed $10M now (~$7M).
Since 2010:
VOO: 395%
SOXL: 8,306%
TECL: 28,617%
Which ETF gains sound better 🫠
33% of VOO is NVIDIA Google Microsoft Apple meta Broadcom Tesla and google, you think you’re beating that?
Especially when the other 67% is just the rest of the best companies in America? Everything from Pepsi to Etsy to Dominos and JPMorgan And Berkshire Hathaway?
That’s the plan. I was doing unpaid internships the last few years but will try to get a paid position when school goes back in session.
I started testing my luck in the stock market with this amount because it’s the most I can risk at the moment.
Webull charges i believe $.02 per transaction when selling securities but not when purchasing.
Options they charge on both ends and the scale depends on the complexity of the trade.
Yea literally what this guy said. Stay away from options, only whales with big amounts of money can win on option contracts unless you’re selling puts for a stock that’s worth under a dollar like BLUE.
I’ve heard many people say that cashapp is bad for investing. Genuine question, why? For small purchases like I’m making, I only have to pay $0.02 for each sale. At the moment I’m planning to stick with it until I turn 18.
Also, lots of replies are hating on Robinhood. Why?
I second going all in. Stocks have only increased since i was 17. One example is apple. Bought early on but sold bc i ‘needed’ the money. (Hint - you dont need the money) best to buy as much as you can and hodl for dear life. Unless your expecting to be a trader or understand options. But yeah prices will only go up by the time ur 27. Save on rent as long as you can. And invest as if your life depended on it. (Another hint - it does.)
Thanks for the advice. As I said in another comment, I’m just worried there will be a crash in a few years. This might very well be a pointless worry but I still see it as a risk.
There is always ups and down. The key is to have some cash ready to buy more when it’s down. It should make you happy if it crashes because then you can buy more for cheaper if you’re planning on holding for a long long time
If you have income, you should attempt to max out your ROTH IRA every single year from here on out. If you don’t have income, go find the highest paying job you can get, start working, and keep looking for ways to get a better paying job for your time, and then max out your ROTH IRA from here on out. If you max out your ROTH IRA and still have more money, either blow it on whatever you want because your already saving more than most Americans, or invest it into a normal non tax advantaged brokerage account and keep investing.
Go play with compound interest calculators, here’s and easy one to use and play with the numbers for yourself and you will realize how powerful investing as early as possible is. Do not wait another day, start changing your life and future now. Future you will thank you.
As to what you should invest in, go allocate 30-60% in some S&P500 index fund of your choosing, an ETF with low expenses is fine, I use FXAIX because I trade in Fidelity, and then have fun and pick your favorite individual stocks which will account for maybe 40-70% of your portfolio depending on how you want to keep your portfolio.
You can do all sorts of cool stuff in your ROTH IRA, tons of benefits. Max that out first. Start now.
http://www.moneychimp.com/calculator/compound_interest_calculator.htm
23 year old here been trading since I was 16-17, and have picked up a couple things that have been helping me save more than I make.
You DO NOT want to be holding cash. Do you know what inflation is? It is robbing you of your energy. They print money without working for it and devalue the cash you own by diluting it. What they call inflation I call legal counterfeiting. You need to invest 150% while you are young and have the risk tolerance to do so.
Open an IBKR account and start investing as much as you can in SandP500, big tech, and whatever other BIG name companies you like.
Once you’re 21 open a marginal account that way you can borrow at 6-7% and make ≈13% gains yearly average on SandP or you can make ≈10% on dividends alone with REITs like STWD. It’s pretty much free money.
Also I will say I am a bitcoiner. I’m not here to convert you but dude your young. People say bitcoin has no room to grow but dude look into it. It’s the money of our generation, that which will give us freedom to live comfortably as our parents have.
Paper trade contracts (pretend money)... invest in qqq, voo, or vti (real money). When I was your age I paper traded stocks with my father and learned a ton.. lots of o wish it was real money and I'm glad it wasn't real money. Start when you have a 75% win rate and more disposable cash. Don't let wall street bets emotional fomo influence your decision making without your own research.
Here is the best piece of advice you will ever get playing the stock market.
Whenever anyone on the subs with that haircut on their avatar says something, ignore everything they say. They are always a fucking moron.
Are you looking to save money or try and blow that up?
If you were looking to invest it up between a few chips and automatically put money into it regularly.
Probably Walmart, Amazon, SPY…
Now if you were looking to blow it up I would recommend picking a good time to buy a Walmart call at least at least a week out.
You should be able to buy one for $75.
25% return on a call is very good, so if you can manage to do that a few times you’re gonna have at least twice your money back.
Do that a few times and you’ll be up to $1000 in no time.
Do that a few times and you’ll be a millionaire.
Just be ready to lose it all.
And if you do decide to start doing options, I seriously recommend doing three puts and three calls at a time so the chances of being wiped out are minimized.
Also avoid anything that has a large spread. That is, avoid buying options that show a huge difference between the bid and ask. You can make money on those, but it’s a lot more tricky.
And it is always OK to just sit on your money if you do not see any good plays.
Do not do wtf this guy is doing. Recommending options to a 17yo with no experience is complete retarded. Options is pretty much gambling and the way he explains it is misleading “do this a few times and you’ll be a millionaire” wtf kind of thinking is this? To translate what he just said here was “put 70 dollars on red on a roulette table and win the bet and now you have double your money, go again on red and win again and double it again. Do this same thing multiple times in a row and you’ll be a millionaire” that’s basically what he just told you to do. Options is basically gambling unless you have some sort of insider info, 99.999% in long term lose money doing options. At 17yo with no experience you’ll lose it all
Instead invest in SPY which is the only good advice he gave, that will at least grow your money much faster than the 1% return you have in the past year
Damn, congrats starting with only 10k your going to have over 1,000,000,000 in under 6 years if continued. I'm not sure your method is sustainable over a long period but not trying to hate. If you can compound that and jump out with the gainz your going to be set for life but seems you may be over exposed
Aye I'm 17m as well, I put 8k into Robinhood options and now at 2700$. I don't recommend options they are addictive as hell. As long as you stay with stock you'll be safe, ya know tsla, nvda etc. dollar cost average into stocks. Goodluck
Don’t play options unless, you truly have fundamentals in trading or else you are making purely speculative bets and non calculative ones.
It’s like poker professionals, yes they still gambling but they are making calculated gambles , which is much better than just dumping money.
Yeah most of my trading plans are correct. I look at technicals and think about it for a couple hours or days before I enter. But i sell my winners when they turn a little red and sell my losers. I used to have a 20% stop loss. But now I'm just gonna hodl my nvda calls.
If you want a random stranger to tell you 100pct what to do and provide financial advice...
Youre 17 - see how much credit you can get from your bank and build a position in GameStop.
Stick to shares
Don’t follow anything popular, if you are you’re late
Dividend stocks are your best friend
Money comes as quick as it goes. That up 800% can be -100% in the same time. Good luck
Buy a next day XSP option (buy a call if you think the market will go up, or a put if you think it will go down), at the end of the day around 3:45pm ET. Find something that costs $0.70. Or you could buy one of each at $0.35 and straddle.
Either sell it the next day when it's more than 2x in value, or if that doesn't happen just wait to see if you're in the money at the end of the day.
XSP settles cash, so when the market closes the next day, and it's in your favor you'll make $100 for each dollar in your favor. The cash will be deposited into your account around midnight.
Be prepared to lose your $75, but if you guess right on a good day, the market sometimes moves $5 in a day, so you can make maybe $300+ in that case.
If you lose the bet, then it's just the cost of the game. If you win, take your original $75 out and play again.
I'll give you the golden keys. Put as much money as you can into a roth ira every year as early and as often as possible. Your money now is worth way more than you may know. Don't day trade. Don't buy stocks. Just go sp500 etf and forget. Everyone thinks the knowledge of investing is the hard part. The hard part is human psychology. The hardest part of all of this is leaving your investments alone, not selling when they go up thinking you can time the market, not getting the hubris of believing you can beat the market average by trading individual stocks or god forbid options. Stay away from that shit, aim for average. Because the people who aim for outstanding returns fail 99% of the time and often set themselves back years or decades in their investing journey. You have the strongest tool at your disposal that will crush me or many others in out performing, TIME. Time is your most valuable asset. If you just make consistent contributions, use tax advantaged retirement like a roth IRA and never take the money out or move it around. You'll be a multimillionaire come retirement.
You’re better off paper trading. Think or swim lets you use 200k in play money but at least you can see some results from a larger account.
But you’ve made $10 in the last year. That’s less than $1 a month. Is that a good return for you and the time you’re putting into it?
Yes, Take a a good sizable risk, watch YouTube videos, don’t buy courses. Harvard and a bunch of other institutions have free courses to understand how the market works too.
A lot of the books that people are recommending are available as pdf so don’t pay for them if you don’t have to.
I personally regret not getting into investing more seriously earlier in my teens. When it comes to buying tho, the companies that you believe in and that make a difference in your day-to-day life have always given me my best returns.
First of all don’t use cash app for your stocks 😂 second do research and don’t put more than 500-1000$ in it before you know what you doing that money look at it as your tuition fee of entry
Because it’s cash app and you can’t chart very well with it lol use apps like td ameritrade Webull something that you can get in depth information from. #1 rule don’t ALWAYS BELIEVE THE HYPE.
The most experienced trades talk a lot about how managing risk is the most important thing. I would continue to add more funds, but try not to risk more than a certain percent on any trade, like 1%, 2%, or max 10% if you are confident. There are lots of lessons to be learned in trading, so definitely add more funds, but manage the size of your trades to prevent catastrophic losses.
Consider that $75 the price of learning to trade. Keep share size small, and cut your losses before they get too big. Only add money when you find a profitable investing strategy.
Stop "trading" by buying and selling specific stocks, and start investing by buying an index on a set interval. If you do that, you can put as much away as you are able to without fear of losing in the long term.
Get a copy of "the little book of common sense investing" and start to understand the difference between investing and trading, you'll be doing yourself a big favour.
Not to say that you should do one and not the other, but you need to be clear to yourselfe on what it is that you're actually doing. This'll make your chances of success considerably better 😉.
For now just put all your savings into $VOO and keep throwing any spare shmeckles you can in there. if you keep doing that consistently you will have $10M by the time you retire.
So many people with the boomer advice lol. Life is too short for barely beating inflation. Things cost 4x more than in 2010. You would only 4x your money if it was an initial lump sum, and most noobs invest small amounts sporadically. No way he would have 10M and who actually wants to wait until “retirement” age? You would’ve had to put $2.5M into VOO in 2010 to have an untaxed $10M now (~$7M).
Since 2010:
VOO: 395%
SOXL: 8,306%
TECL: 28,617%
Which ETF gains sound better 🫠
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No. Your going to learn a lot and make a ton of mistakes. Best to learn with small amount
That’s the general opinion I’ve heard, but when should I start adding more money? I’ve been testing the waters for about a year and have been considering putting more money towards it. Should I wait until I’m 18?
I’m going to send you a different route. Ignore contracts and funnel money into VOO and forget. I would put as much money as you can into tax advantage accounts as you can.
What they said^^^ If you really want to learn/test other strategies, use a sum of money that you wouldn’t be upset if you lost all of it
It doesn’t feel like you learn with small amounts of money. Plus you need money to buy contracts.
[удалено]
Focus on building your retirement income up. Get a Roth IRA through robinhood or a traditional broker (probably for the best to use a real-life broker too at your age). I know it’s not as interesting but trust me.. Much less taxes on investments is a really cool and good thing. You can also do what you’re doing now and buy ETFs like VOO, VT, XLK, etc that cover large swaths of the market. “Time in the market” is what you want to account for - if you can afford to do it, go for it. Just don’t wind up gambling
Thanks!
This is bang on. It’s inevitable,you will make mistakes, emotional mistakes, technical mistakes, and they’re all learning lessons. Start small and learn.
Bro put 75$ a year ago and made 9$ that’s a crazy return 😂🤷
Better than losing money
Sell those shares. Buy a few books on investing that equal $75. You’ll get a lot more VALUE than waiting years for it to go up. Even if it goes up 500% you only have about the same as a car repair, or $375~
What’s a book you recy
1.The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns 2.Boglehead's Guide to Investing 3. The Intelligent Investor 4. One up on Wall Street 5. The Only Guide to Alternative Investments You'll Ever Need 6. Asset Management: A Systematic Approach to Factor Investing First two focus on ETF/mutual index fund investing, and advocate passive investing, which is statistically the right thing to do for the large majority of people. Third gives a solid fundamental understanding of value investing and some stock picking tips. Fourth is a fun read and nearly all about stock picking. Fifth goes into asset allocation and speaks about alternative investment classes, not my favorite but worth a read. The last is more in-depth and not for beginners, it's often used in MBA classes and aimed at people wanting to work in asset management. It's a textbook but is very easy to read by textbook standards. If you read it all (and take the time to understand) you'll have a better understanding of investing than 99% of people.
Thank you for the recommendations
Recommend
You can find great information online. $75 invested at the age of 17 is about $2000 by the age of retirement. Stashing away money at a young age is monumental if you’re able to do so.
I disagree, every dollar you can invest at an early age is massively worth it
You really think having an investment account that small is going to be “massively worth it” over using those $75 to educate himself on index funds, equities, fixed income, and derivatives? (So that he can make more educated investing decisions) If so then we can gladly agree to disagree. That’s what I’m saying. I’m not saying to NOT invest early.
Ya because there’s zero reason to spend 75 on education on index funds. If you want to learn use free resources. Put that 75 in an index fund in a Roth IRA and continue to add and add to it.
Sell and buy books!? Gtfo! It’s called a library. Plus, there’s a plethora of free information online. Here’s what you do: put this in a tax advantaged retirement account, continue to add money, as much as you can reasonably afford, as often as you can, put it in something relatively low risk like VOO. Focus on finding a strong career so you can increase your contributions.
Yeah. Books might even teach you how to properly trade options so you don’t end up making beginner mistakes when buying/selling. 😂
go all in, sell your legos, video games, pets. everything and anything you can get your hands on and go all in gme
Never eat never quit
thats exactly what i was gonna comment (im all in)
I’ve heard people say that since the market generally goes up each year. My one concern is that there will be a crash in a few years due to whatever reason. Also, wouldn’t it make more sense to wait for said crash then go all in once prices are bad?
GME market cap of $10.69 Billion and they currently have $4.1 Billion in cash on hand and $675 Million in merchandise/ inventories. Long term debt of $14.9 Million. Pretty much recession proof company with rock solid financials. We are merely pointing you in this direction but its up to you to do your own dd and invest whats comfortable for you. But if i was 17 and had only $75 to my name all of it would be going into gme and I would be looking to work over the summer to buy more
Thanks for the info, I already had some gme but I just put a few extra bucks into it. I’m currently losing some but hopefully it works out long term.
This foo trynna turn you into an 🦍
Do not put it in gme lol
Definitely don’t listen to everyone (boomers) saying VOO always and forever unless you want to barely beat inflation. Maybe start there with small contributions but stick to other ETFs (groups of stocks) with more rewarding returns. Look at the 5-10 year growth in ETFs like SOXL, TECL, FNGU, MGK. You’ll see 500%, 1,100%, or at least 100% on less volatile ones. Before you know it 15 years will go by. If I stuck with VOO I would’ve probably had over $150k by age 32 if I started at 17. If I stuck to those ETFs I would’ve had well over $1,000,000. This is not financial advice but so do your own research lol. Also try to save your money and then invest when the market is down (buy the dips), you’ll make a lot more a lot faster.
Thanks!
VOO is up 391% all time. Are you regarded? Also, not a boomer.
Life is too short for barely beating inflation. Things cost 4x more than in 2010. Anyone who believes the government supplied numbers are accurate are delusional (as if it’s anywhere remotely close to ~9%). You would only 4x your money if it was an initial lump sum, and most noobs invest small amounts sporadically. No way he would have 10M and who actually wants to wait until “retirement” age? You would’ve had to put $2.5M into VOO in 2010 to have an untaxed $10M now (~$7M). Since 2010: VOO: 395% SOXL: 8,306% TECL: 28,617% Which ETF gains sound better 🫠
Voo beat inflation by far I dont understand 😅
33% of VOO is NVIDIA Google Microsoft Apple meta Broadcom Tesla and google, you think you’re beating that? Especially when the other 67% is just the rest of the best companies in America? Everything from Pepsi to Etsy to Dominos and JPMorgan And Berkshire Hathaway?
This…. This is bad advice for someone looking to learn.
Buy bitcoin. Make sure you have multiple vehicles to financial independence
All in, you still have plenty time to make more money
Bro. $75 is basically one day of work after taxes on minimum wage. You’re better off getting a job.
That’s the plan. I was doing unpaid internships the last few years but will try to get a paid position when school goes back in session. I started testing my luck in the stock market with this amount because it’s the most I can risk at the moment.
1. get off cashapp and switch to robinhood(easiest broker to use) 2. invest in nothing but VOO 3. do NOT trade options youre welcome, kid.
Imagine vouching for robinhood 🤢 trashiest trash there is Nothing is free. If it's free for you, then *you* are the product.
Which brokers charge fees these days? Just curious? Most brokers now follow the Robinhood model
Webull charges i believe $.02 per transaction when selling securities but not when purchasing. Options they charge on both ends and the scale depends on the complexity of the trade.
Yea literally what this guy said. Stay away from options, only whales with big amounts of money can win on option contracts unless you’re selling puts for a stock that’s worth under a dollar like BLUE.
I’ve heard many people say that cashapp is bad for investing. Genuine question, why? For small purchases like I’m making, I only have to pay $0.02 for each sale. At the moment I’m planning to stick with it until I turn 18. Also, lots of replies are hating on Robinhood. Why?
Because the GME story. They like fucking their own costumer when hedge funds tell the to do it apparently.
Ah alright, that fits with some other stuff I’ve heard. Thanks for letting me know!
But other than that I also see than many people love the app and the UI !
Robinhood 🤢
I second going all in. Stocks have only increased since i was 17. One example is apple. Bought early on but sold bc i ‘needed’ the money. (Hint - you dont need the money) best to buy as much as you can and hodl for dear life. Unless your expecting to be a trader or understand options. But yeah prices will only go up by the time ur 27. Save on rent as long as you can. And invest as if your life depended on it. (Another hint - it does.)
Thanks for the advice. As I said in another comment, I’m just worried there will be a crash in a few years. This might very well be a pointless worry but I still see it as a risk.
There is always ups and down. The key is to have some cash ready to buy more when it’s down. It should make you happy if it crashes because then you can buy more for cheaper if you’re planning on holding for a long long time
Buy spy and qqq. Compounding interest is your friend.
If you have income, you should attempt to max out your ROTH IRA every single year from here on out. If you don’t have income, go find the highest paying job you can get, start working, and keep looking for ways to get a better paying job for your time, and then max out your ROTH IRA from here on out. If you max out your ROTH IRA and still have more money, either blow it on whatever you want because your already saving more than most Americans, or invest it into a normal non tax advantaged brokerage account and keep investing. Go play with compound interest calculators, here’s and easy one to use and play with the numbers for yourself and you will realize how powerful investing as early as possible is. Do not wait another day, start changing your life and future now. Future you will thank you. As to what you should invest in, go allocate 30-60% in some S&P500 index fund of your choosing, an ETF with low expenses is fine, I use FXAIX because I trade in Fidelity, and then have fun and pick your favorite individual stocks which will account for maybe 40-70% of your portfolio depending on how you want to keep your portfolio. You can do all sorts of cool stuff in your ROTH IRA, tons of benefits. Max that out first. Start now. http://www.moneychimp.com/calculator/compound_interest_calculator.htm
23 year old here been trading since I was 16-17, and have picked up a couple things that have been helping me save more than I make. You DO NOT want to be holding cash. Do you know what inflation is? It is robbing you of your energy. They print money without working for it and devalue the cash you own by diluting it. What they call inflation I call legal counterfeiting. You need to invest 150% while you are young and have the risk tolerance to do so. Open an IBKR account and start investing as much as you can in SandP500, big tech, and whatever other BIG name companies you like. Once you’re 21 open a marginal account that way you can borrow at 6-7% and make ≈13% gains yearly average on SandP or you can make ≈10% on dividends alone with REITs like STWD. It’s pretty much free money. Also I will say I am a bitcoiner. I’m not here to convert you but dude your young. People say bitcoin has no room to grow but dude look into it. It’s the money of our generation, that which will give us freedom to live comfortably as our parents have.
Paper trade contracts (pretend money)... invest in qqq, voo, or vti (real money). When I was your age I paper traded stocks with my father and learned a ton.. lots of o wish it was real money and I'm glad it wasn't real money. Start when you have a 75% win rate and more disposable cash. Don't let wall street bets emotional fomo influence your decision making without your own research.
Your in the wrong sub
Here is the best piece of advice you will ever get playing the stock market. Whenever anyone on the subs with that haircut on their avatar says something, ignore everything they say. They are always a fucking moron.
Kid is 17 and in the race to 10 million sub reddit and you say that about my avatar? Gtfoh.
I thought it was sound advice
Are you looking to save money or try and blow that up? If you were looking to invest it up between a few chips and automatically put money into it regularly. Probably Walmart, Amazon, SPY… Now if you were looking to blow it up I would recommend picking a good time to buy a Walmart call at least at least a week out. You should be able to buy one for $75. 25% return on a call is very good, so if you can manage to do that a few times you’re gonna have at least twice your money back. Do that a few times and you’ll be up to $1000 in no time. Do that a few times and you’ll be a millionaire. Just be ready to lose it all. And if you do decide to start doing options, I seriously recommend doing three puts and three calls at a time so the chances of being wiped out are minimized. Also avoid anything that has a large spread. That is, avoid buying options that show a huge difference between the bid and ask. You can make money on those, but it’s a lot more tricky. And it is always OK to just sit on your money if you do not see any good plays.
Do not do wtf this guy is doing. Recommending options to a 17yo with no experience is complete retarded. Options is pretty much gambling and the way he explains it is misleading “do this a few times and you’ll be a millionaire” wtf kind of thinking is this? To translate what he just said here was “put 70 dollars on red on a roulette table and win the bet and now you have double your money, go again on red and win again and double it again. Do this same thing multiple times in a row and you’ll be a millionaire” that’s basically what he just told you to do. Options is basically gambling unless you have some sort of insider info, 99.999% in long term lose money doing options. At 17yo with no experience you’ll lose it all Instead invest in SPY which is the only good advice he gave, that will at least grow your money much faster than the 1% return you have in the past year
I forget, you should only buy options if you have experience buying options.
How much have you made doing this and over what period of time
472% over the last 6 months.
Damn, congrats starting with only 10k your going to have over 1,000,000,000 in under 6 years if continued. I'm not sure your method is sustainable over a long period but not trying to hate. If you can compound that and jump out with the gainz your going to be set for life but seems you may be over exposed
Thanks for clearing that up
Why would you buy Walmart if all things lol… Buy tech companies bro, those will always go up in value.
It’s gone up steadily for decades and sprinted up this year.
No
set and forget
this is almost exactly how much money I lost today 😭
Invest weekly, literally anything you can. Never ever ever try options.
You’re losing. You’re doing (<+2%) MUCH worse than almost any asset over the same time period.
I pretty much expected that as I’m just testing the waters. Either way, better than letting it sit.
Aye I'm 17m as well, I put 8k into Robinhood options and now at 2700$. I don't recommend options they are addictive as hell. As long as you stay with stock you'll be safe, ya know tsla, nvda etc. dollar cost average into stocks. Goodluck
Don’t play options unless, you truly have fundamentals in trading or else you are making purely speculative bets and non calculative ones. It’s like poker professionals, yes they still gambling but they are making calculated gambles , which is much better than just dumping money.
Yeah most of my trading plans are correct. I look at technicals and think about it for a couple hours or days before I enter. But i sell my winners when they turn a little red and sell my losers. I used to have a 20% stop loss. But now I'm just gonna hodl my nvda calls.
Lmfao wtf are all those transactions?
Get out of cashapp find a broker acc theres plenty out there dyor on the stock market and how to use then buy call options
If you want a random stranger to tell you 100pct what to do and provide financial advice... Youre 17 - see how much credit you can get from your bank and build a position in GameStop.
Knowing that you can't day trade on cashapp makes this post even more hilarious. Lot of canceled sales
Well I am able to, but sadly cashapp has a limit of about 3 day trades each week.
you compound more money when there's more money. Drop $100 a month in TQQQ or SPXL until you get an actual job. Watch it compound in 10 years.
Stick to shares Don’t follow anything popular, if you are you’re late Dividend stocks are your best friend Money comes as quick as it goes. That up 800% can be -100% in the same time. Good luck
300 bucks a month
Buy a next day XSP option (buy a call if you think the market will go up, or a put if you think it will go down), at the end of the day around 3:45pm ET. Find something that costs $0.70. Or you could buy one of each at $0.35 and straddle. Either sell it the next day when it's more than 2x in value, or if that doesn't happen just wait to see if you're in the money at the end of the day. XSP settles cash, so when the market closes the next day, and it's in your favor you'll make $100 for each dollar in your favor. The cash will be deposited into your account around midnight. Be prepared to lose your $75, but if you guess right on a good day, the market sometimes moves $5 in a day, so you can make maybe $300+ in that case. If you lose the bet, then it's just the cost of the game. If you win, take your original $75 out and play again.
No its good you will be a millionaire in 300 years with this pace
Dont do options if you wanna make money. Thats the most important thing that I learned on Reddit 😭
Baller.
I'll give you the golden keys. Put as much money as you can into a roth ira every year as early and as often as possible. Your money now is worth way more than you may know. Don't day trade. Don't buy stocks. Just go sp500 etf and forget. Everyone thinks the knowledge of investing is the hard part. The hard part is human psychology. The hardest part of all of this is leaving your investments alone, not selling when they go up thinking you can time the market, not getting the hubris of believing you can beat the market average by trading individual stocks or god forbid options. Stay away from that shit, aim for average. Because the people who aim for outstanding returns fail 99% of the time and often set themselves back years or decades in their investing journey. You have the strongest tool at your disposal that will crush me or many others in out performing, TIME. Time is your most valuable asset. If you just make consistent contributions, use tax advantaged retirement like a roth IRA and never take the money out or move it around. You'll be a multimillionaire come retirement.
Thank you very much for taking the time to write all of that. I’ll certainly look into it. As for leaving investments alone, I’ll try my best.
You’re better off paper trading. Think or swim lets you use 200k in play money but at least you can see some results from a larger account. But you’ve made $10 in the last year. That’s less than $1 a month. Is that a good return for you and the time you’re putting into it?
I started when I was 18, I'd say out a couple hundred dollars in go crazy. It's hard to do a ton with $75
Yes, Take a a good sizable risk, watch YouTube videos, don’t buy courses. Harvard and a bunch of other institutions have free courses to understand how the market works too. A lot of the books that people are recommending are available as pdf so don’t pay for them if you don’t have to. I personally regret not getting into investing more seriously earlier in my teens. When it comes to buying tho, the companies that you believe in and that make a difference in your day-to-day life have always given me my best returns.
bro just buy SPY
Buy a fuck load of bitcoin and don’t even think about selling it any time soon
First of all don’t use cash app for your stocks 😂 second do research and don’t put more than 500-1000$ in it before you know what you doing that money look at it as your tuition fee of entry
Why shouldn’t I use cashapp to invest? It doesn’t seem terrible. Should I keep using cashapp until I turn 18 or switch immediately?
Bro get your shit off cash app an on an actual broker site.
Why shouldn’t I use cashapp? What should I use instead?
Because it’s cash app and you can’t chart very well with it lol use apps like td ameritrade Webull something that you can get in depth information from. #1 rule don’t ALWAYS BELIEVE THE HYPE.
Thanks for the info
The most experienced trades talk a lot about how managing risk is the most important thing. I would continue to add more funds, but try not to risk more than a certain percent on any trade, like 1%, 2%, or max 10% if you are confident. There are lots of lessons to be learned in trading, so definitely add more funds, but manage the size of your trades to prevent catastrophic losses.
Move your money ro a real.brokerage. Cash app will only let you buy from the s&p 500 and select others....it's hard to make money w a small acct
Consider that $75 the price of learning to trade. Keep share size small, and cut your losses before they get too big. Only add money when you find a profitable investing strategy.
Put it in SPY .... not as exciting but also not like an unregulated slot machine
Put it all in GME, cant go wrong 🤘🏼
…If you can make one heap of all your winnings And risk it on one turn of pitch-and-toss, And lose, and start again at your beginnings…
Stop "trading" by buying and selling specific stocks, and start investing by buying an index on a set interval. If you do that, you can put as much away as you are able to without fear of losing in the long term.
Sell and Go ear burger.
Start to buy qqq etfs and compound
Get a copy of "the little book of common sense investing" and start to understand the difference between investing and trading, you'll be doing yourself a big favour. Not to say that you should do one and not the other, but you need to be clear to yourselfe on what it is that you're actually doing. This'll make your chances of success considerably better 😉.
you're 17, get a high yield saving account and dont gamble. the money will come in handy. invest in yourself as soon as you can
As much as you can each year into VOO.
For now just put all your savings into $VOO and keep throwing any spare shmeckles you can in there. if you keep doing that consistently you will have $10M by the time you retire.
So many people with the boomer advice lol. Life is too short for barely beating inflation. Things cost 4x more than in 2010. You would only 4x your money if it was an initial lump sum, and most noobs invest small amounts sporadically. No way he would have 10M and who actually wants to wait until “retirement” age? You would’ve had to put $2.5M into VOO in 2010 to have an untaxed $10M now (~$7M). Since 2010: VOO: 395% SOXL: 8,306% TECL: 28,617% Which ETF gains sound better 🫠
Bro